IPO week seen as market lift with GM and Caesars
The week ahead features General Motors and Caesars Entertainment among 10 IPOs expected to raise about $12.5 billion, the most in a week since March 2008. Demand from institutions could push pricing high while retail access remains limited, and the broader IPO market shows renewed strength amid lower rates.
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EU seeks to calm Irish creditors amid bailout fears
European leaders reassured Ireland's creditors promising new bailout terms will not hit investors. Germany France Italy Spain and Britain said outstanding debt not covered by the mechanism will be unaffected. Ireland's borrowing costs spiked earlier this week before yields eased on the statement.
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Daily Beast and Newsweek announce merger to form joint venture
The Daily Beast merges with Newsweek forming Newsweek Daily Beast Co. Sidney Harman acquires Newsweek for 1 and Tina Brown becomes editor in chief. Barry Diller and Harman will chair the board while revenue and losses sharing terms remain undisclosed. Brown says the deal blends print and web storytelling, boosting Newsweek’s revival.
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