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Boom in ‘lucky dip’ deals as investors back shells

Read M&A insights you won’t find elsewhere Exclusive scoops Smart data to help spot risk and opportunity Analysis of broader trends in M&A Lex, our agenda-setting business commentary (Premium only) Due Diligence, an exclusive M&A newsletter (Premium only) Choose your subscription Not sure which package to choose?Try full access for …

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Private equity and the mark-to-market myth

News overnight from the Wall Street Journal: Southland Royalty, a private equity owned oil-and-gas company with assets in Wyoming, has filed for bankruptcy. Formed in 2015, Southland had received around $1.1bn in equity commitments from its private-equity owner, Encap, and other investors including Southland’s management. A further $540m in debt …

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The ‘Fool’s Yield’ of private credit

Dan Rasmussen of US-based Verdad Advisors is a smart cookie. In late October, FT Alphaville saw him speak at Grant’s Conference, a soirée for those who fear the world is going to end, and found his jocular, barbed disassembling of the private equity machine pretty convincing. But Rasmussen is also a …

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Sainsbury’s joins race to cut carbon with £1bn pledge

FT subscribers can click here to receive Opening quote by email. There is a race on among the UK’s big companies over who can cut their carbon quickest (just don’t call it greenwashing). See, for example, airline easyJet last year, which is offsetting its carbon emissions. Sainsbury’s is the latest …

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Investors embrace millennial co-living in Asia’s megacities

Shared spaces are beginning to look crowded. Even after last year’s meltdown of WeWork, investors are piling into co-living and co-working companies. Sequoia last year selected Rukita, a co-living company based in Jakarta, as one of the first recipients of money from its Surge programme, which provides funding for start-ups …

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WhatsApp reported sharp rise in security flaws in 2019

WhatsApp reported a sharp escalation in the number of vulnerabilities it found on its platform in 2019, raising fresh questions about the security of an app that has often been hailed for safe private messaging. Data from the US National Vulnerabilities Database, a US government repository of flaws, shows that …

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Deutsche Bank: a royal mess

FT premium subscribers can click here to receive Due Diligence every day by email. Here is some news you can use for DD readers contemplating a run at business school. The FT has just this week published its latest MBA rankings. Read up here.  Now back to the show . . . When …

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Barrick Gold chief on lookout for next big deal

A tough-talking South African on a mission to shake up the mining industry. For years the name that would have sprung to mind was Glencore boss Ivan Glasenberg, but not any more. The sector has another swashbuckling executive to watch: Mark Bristow, head of Barrick Gold. Since the Natal-born geologist …

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Brexit ad blitz had little impact, says watchdog

A Brexit advertising campaign billed as the biggest by the government since the second world war may have failed to encourage any more people to seek information about leaving the EU, according to the UK’s public spending watchdog. More than £46m was spent on the “Get Ready for Brexit” campaign …

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