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Good Morning,
The US just had one of its most eventful weekends in a while, dominated by Donald Trump’s inauguration, presidential memecoins, executive orders, the TikTok ban, and much more. Buckle up, everyone, it’s going to be a crazy next four years. We will be here to keep everyone informed on the most important news as it relates to global financial markets and the business landscape!
In 2025, Plaid's making sure we're staying ahead of the curve on all trends fintech. Check out Plaid's Fintech Predictions for what's in store for finance, lending and more.
Let's dive in.
Before The Bell

As of 1/17/2025 market close.
Markets
US markets were closed yesterday in observance of MLK Day
US stocks rose on Friday ahead of Trump's inauguration and sights of a policy shift
All the three major indexes posted their first weekly gain of 2025
UK's FTSE 100 hit a new ATH
Canada's TSX index climbed to a five-week high
UK 10Y gilt yields fell 18 bps to 4.66% in its best week since July
Dollar posted it worst day since late-2023 amid Trump tariff speculation
Bitcoin hit a new ATH of $109k before retreating
BOJ is expected to raise rates at their meeting on Friday
Earnings
What we're watching this week:
Today: Netflix, United Airlines, Charles Schwab, 3M
Wednesday: P&G, Johnson & Johnson, GE Vernova, Discover
Thursday: GE Aerospace, American Airlines
Friday: Verizon, American Express
Full calendar here
Prediction Markets
Kalshi's event markets went crazy over the weekend after some controversial Biden pardons, a short-lived and politically charged TikTok ban, memecoin mania, a new Bitcoin high, and an eventful presidential inauguration with numerous Trump executive orders. Check out how the most active markets fared.
Trade your predictions on a range of events legally, only on Kalshi. Get a $20 bonus when you deposit $100 with code LIT on signup!
Headline Roundup
Donald Trump was inaugurated as US president (BBG)
The Department of Government Efficiency (DOGE) was formally established via executive order to modernize federal technology and software (WH)
PE 'secondary' sales hit a record high last year (RT)
Hedge funds have pocketed almost half of profits as fees since 2000s (WSJ)
Wall Street's hedging craze gets second wind after 2024 misfire (BBG)
BofA will award stock to most employees for the eighth time since 2017 (RT)
Goldman Sachs raised CEO pay, including an $80M retention bonus (BBG)
BoE delayed new capital rules ahead of Trump presidency (FT)
UK firms are outpacing US in share buybacks (FT)
US mid-sized banks ride industry upswing on robust fee income (RT)
Foreigners sold Asian bonds for a second-straight month in December (RT)
Asia private credit funding hit an eight-year low on China slump (BBG)
Asset managers gear up for active ETF boom in Europe (FT)
China's record capital-account outflows pile pressure on yuan (BBG)
Chinese investors pile into Bridgewater-style funds, eyeing Trump return (RT)
Citadel Securities applied for a securities licence in China (RT)
Trump 'saved' TikTok from last-minute ban (NYT)
China is open to a deal to keep TikTok in US (WSJ)
Trump wants the US International Development Finance Corp to function like a sovereign wealth fund (BBG)
BlackRock agreed to new ESG disclosures in Tennessee settlement (RT)
Bumble founder Whitney Wolfe Herd will return as CEO (CNBC)
Glencore is open to deals as investors brace for more mining M&A (RT)
US energy firms cut O&G rigs to the lowest since December 2021 (RT)
Starbucks will cut jobs as part of turnaround effort (RT)
Costco union workers authorized a strike (WSJ)
Older Americans now own 80% of the stock market (MN)
Even top MBAs are struggling to land jobs (WSJ)
Big Four accounting firms are set to miss female partner targets for 2025 (FT)
A Message from Plaid
What’s Fintech Got In Store for 2025?
Our New Year's resolution wasn't to start hitting the gym again – it was to stay ahead of the game on every industry trend, tip, and trick to make the most of 2025.
Well, that resolution starts right here, right now, with the latest and greatest from Plaid:
This gold mine of information from one of the leading players in the game gives you the inside scoop on all the changes and challenges facing fintech in the coming year. And, unlike your Planet Fitness membership, it's completely free. Hear from a panel of experts including Plaid's Co-founder and CEO, Zach Perret, President, Jen Taylor, and Head of Policy, John Pitts, on what's on deck for 2025. You won't regret it.
Deal Flow
M&A / Investments
Intel is a potential acquisition target of an undisclosed company
Startup Perplexity AI submitted a bid to merge with TikTok's US unit
Canada's CDPQ and PSP Investments, and Bahrain-based Investcorp are exploring a sale of US consulting firm AlixPartners for $5B-$8B
Kimberly-Clark's potential $4B sale of its international tissue business attracted interest from firms including Royal Golden Eagle, Brazil's Suzano, and Asia Pulp & Paper
IK Partners is exploring a potential $2.1B sale of French disinfection and hygiene solutions provider Kersia
KKR is seeking to sell a significant minority stake in Philippine fintech Maya at a $2B valuation
PE firm Advent is nearing a deal to acquire EQT-backed contact lenses maker Ginko International's Chinese operations for $1.1B
H.I.G. Capital will acquire market-research firm Kantar's media measurement and analytics unit Kantar Media for $1B
Space infrastructure company Redwire agreed to buy US defense contractor Edge Autonomy for $925M in cash and stock from backers including AE Industrial Partners
Italian insurance giant Generali agreed to buy acquire a 77% stake in credit investor MGG Investment for $320M
$250M-listed Italian highway maintenance company Reway Group is exploring strategic options including a sale
HSBC is studying options for its Australian consumer bank, including a sale
Lone Star Funds is exploring a sale or IPO of Portuguese lender Novo Banco
KKR will acquire a stake in Gulf Data Hub, one of the Middle East's largest data center firms
VC
German robotics startup Sereact raised a $25M Series A led by Creandum
Energy management software provider ecoplanet raised an $18.1M Series A led by EQT Ventures
Men in Blazers Media Network, a US soccer media network, raised a $15M Series A led by Avenue Sports Fund
IntusCare, a provider of predictive analytics solutions for geriatric care, raised an $11.5M round led by Deerfield Management
Skor Technologies, an Indonesian fintech, raised a $6.2M pre-Series A led by Argor Capital
IPO / Direct Listings / Issuances / Block Trades
Billionbrains Garage Ventures, the parent of fintech Groww, is preparing a $750M India IPO at a potential $7B-$8B valuation
Chinese soda maker Dayao is considering a $500M Hong Kong IPO
Chinese autonomous-driving firm Inceptio Technology is exploring a $100M-$200M US IPO
Thoma Bravo-owned cybersecurity company SailPoint filed for a US IPO
Cloud security startup Wiz is weighing an IPO
Debt
The founders of India's Greenko Energy are seeking an $800M loan to acquire a stake in the firm from Japanese financial group Orix
Swedish real estate company Heimstaden raised $510M via a euro and krona-denominated bond offering
Bankruptcy / Restructuring / Distressed
EV startup Canoo filed for Chapter 7 bankruptcy and will cease operations
An Indian tribunal ordered the liquidation of budget airline Go First Airways
Crypto Sum Snapshot
Donald Trump launched his own memecoin ($TRUMP), which soared to a $10B+ market cap ahead of his inauguration
Melania Trump also launched a memecoin
World Liberty Financial, a separate Trump-linked crypto project, announced it had completed a $300M initial token sale
Trump named Mark Uyeda as acting SEC chair, Caroline Pham as acting CFTC chair, and Travis Hill as acting FDIC chair
Bitcoin briefly reached a new all-time high of $109k on Monday
Check out our Crypto Sum newsletter for the full stories on everything crypto!
Exec’s Picks
Two seasoned investment bankers. 30 years of joint industry experience. 45 minutes of exclusive insights.
Join UpSlide's webinar on January 30th and learn how to transform your teams' pitching process and beat the competition this year. Register today.Newsweek is running a live tracker of all of Trump's executive orders signed on inauguration day.
Check out these incredibly insightful charts on Germany's economic decline under Chancellor Olaf Scholz.
Callum Borchers authored a great piece for the WSJ on the dangers of blaming DEI for your career failings.
Check out what some are calling the coolest photo taken from space – captured by veteran astronaut Don Pettit.
Financial Services Recruiting 💼
If you're a junior banker looking for your next career move, check out Litney Partners, a recruiting firm established by Litquidity and Whitney Partners (the oldest purely financial services executive search and consulting firm).
We aim to place strong candidates across private equity, hedge funds, venture capital, growth equity, credit, and investment banking.
We're currently seeking talent for some incredible roles. Head over to Litney Partners to drop your resume / create your profile and we'd love to get in touch!
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