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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

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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