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Warburg Said to Co-Lead Pursuit of Global Switch With SC Capital
Private equity firm Warburg Pincus has joined SC Capital Partners in pursuing a potential acquisition of data center operator Global Switch Holdings Ltd., people with knowledge of the matter said. The SC Capital-Warburg Pincus consortium has been in talks with other potential investors to join them, said the people, who asked not to be identified as the information is private. Singapore-based SC Capital is working with Goldman Sachs Group Inc. on the possible Global Switch offer, and has lined up about $3 billion in a loan facility, the people said.
Yahoo
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JPMorgan nears deal to take over Apple's credit card program, WSJ reports
(Reuters) -JPMorgan Chase is in advanced talks to take over Apple's credit card program from Goldman Sachs, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. Talks between the largest U.S. bank and the tech giant began last year, as Goldman sought to unwind a partnership that had once been a cornerstone of its consumer banking strategy. JPMorgan and Goldman declined to comment on the WSJ report, while Apple did not immediately respond to a Reuters request for comment. The deal would further entrench JPMorgan in the credit card business and add to a string of victories for CEO Jamie Dimon, who has built the bank into a dominant force across retail banking and Wall Street businesses. The bank is among the top credit card issuers in the United States, and competes closely with rivals such as American Express and Capital One. Launched in 2019 with Goldman, the Apple card offered perks such as no fees and cashback, but the bank's struggles in consumer banking prompted a rethink of the partnership. Since then, Goldman has pivoted to its traditional mainstays of investment banking and trading. Barclays and Synchrony Financial have also discussed partnering with Apple for the credit card, Reuters reported in January. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
2 hours ago
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Hedge Funds Are Hurting From a Garbage Rally. Who's to Blame?
Quant equity hedge funds have enjoyed a strong run for nearly two years, with the first half of 2025 being particularly good. But many of the most prominent funds saw losses in June and especially July, due to what quants are calling a 'garbage rally' and blaming on retail day traders. This appears to be unprecedented in several respects. Previous meme stock rallies were driven by medium-term retail investors, and previous quant hedge fund losses were steeper but lasted only a few days. Now we seem to be seeing meme day traders inflicting many weeks of small losses. Previous quant equity losses hit long and short positions equally, this time it's only the short positions. Goldman Sachs Group Inc.'s most shorted-stocks basket has surged at a near record pace and its Speculative Trading Indicator is at over three-year highs, according to a Bloomberg News report last Thursday.
