Europe's IPO Bankers Pin Hopes on Fall Window as Revival Falters
IPOs in the region have raised roughly $5.52 billion so far in 2025, a 60% decline from a year ago, according to data compiled by Bloomberg. Turmoil unleashed by President Donald Trump's tariffs froze the market for weeks, and while some firms have since launched offerings, others deferred or canceled debuts.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
32 minutes ago
- CNBC
Asia-Pacific markets set to open mostly higher as investors parse Fed's latest comments
Sunset scene of light trails traffic speeds through an intersection in Gangnam center business district of Seoul at Seoul city, South Korea Mongkol Chuewong | Moment | Getty Images Asia-Pacific markets are set to open mostly higher on Wednesday as investors digest the latest comments from U.S. Federal Reserve Chair Jerome Powell. Powell said Tuesday that the central bank would have already cut interest rates if it weren't for U.S. President Donald Trump's tariff initiatives. Japan's benchmark Nikkei 225 was set to open lower, with the futures contract in Chicago at 39,665 while its counterpart in Osaka last traded at 39,570, against the index's last close of 39,986.33. Australia's S&P/ASX 200 is set to open higher with futures tied to the benchmark at 8,558 compared to its last close of 8,541.1. Futures for Hong Kong's Hang Seng index stood at 24,170, higher than its last close of 24,072.28. U.S. stock futures were little changed early Asian hours after investors began the second half of the year with a reduced appetite for technology stocks. Overnight stateside, the three major averages closed mixed. The S&P 500 inched down 0.11% and closed at 6,198.01, while the Nasdaq Composite lost 0.82% to settle at 20,202.89. The blue-chip Dow was the outlier, gaining 400.17 points, or 0.91%, to end at 44,494.94. — CNBC's Sean Conlon and Tanaya Macheel contributed to this report. U.S. Federal Reserve Chair Jerome Powell walks to attend a press conference following the issuance of the Federal Open Market Committee's statement on interest rate policy in Washington, D.C., U.S., June 18, 2025. Kevin Mohatt | Reuters Although Federal Reserve Chair Jerome Powell said last week that he expects policymakers to remain on hold until there's more clarity on the impact of President Donald Trump's tariffs on prices, the central bank may look to cut interest rates if there's a downturn in the labor market. "Occam's razor suggests that inflation is already stuck above target, with risks to the upside from tariffs over the next several months," wrote economist Aditya Bhave in a Tuesday note. "The Fed might still cut rates this year if there is compelling evidence of labor market deterioration. But the lack of progress on inflation raises the bar for cuts." Additionally, Bhave anticipates there could be much more impact to the U.S. economy from tariffs ahead. "An optimistic take on the data would be that the pickup in goods inflation reflects some preemptive price hikes ahead of the tariffs," he continued. "Still, there is most likely a lot more tariff-driven inflation in the pipeline." — Sean Conlon
Yahoo
39 minutes ago
- Yahoo
What made the cut in Senate's nearly 1,000-page policy megabill?
Senate Republicans on Tuesday jammed through a major package advancing President Trump's tax priorities, paid for by a host of cuts to the social safety net, including Medicaid and food assistance. The bill also slashes green energy and includes changes to student loan programs. The nearly 1,000-page package, released Friday, has undergone notable changes since initial pieces of the plan first came into view weeks ago. Republicans have also sought to make several tweaks to the bill in the past several days. The expansive bill now awaits consideration in the House, where leaders hope to push it across the finish line before a self-imposed July 4 deadline. Live updates: Senate sends tax bill to House; Trump visits 'Alligator Alcatraz' Here are some of the most significant changes that made the cut through a frenzied 27-hour debate — and what didn't. A centerpiece of the legislation is making permanent the expiring provisions in Trump's signature tax law — which nonpartisan scorers and think tanks estimate would cost trillions of dollars over the next decade. One of the most costly proposals is extending the individual rate reductions in the 2017 law. The bill would also seek to cement existing federal tax brackets, boost the standard deduction and maintain the termination of personal exemptions. It also seeks to deliver on several key promises the president made on the campaign trail last year. That includes deductions for taxes on tips, overtime pay and car loan interest. However, the measures are not fully deductible. Republicans setting up tax cliff at end of Donald Trump's term The final version of the legislation includes restrictions on Medicaid, the joint state-federal program that provides health care for more than 70 million low-income and disabled Americans. Like the House-passed version, the Senate bill will require beneficiaries to prove they are working or in school at least 80 hours a month to keep their health insurance starting Dec. 31, 2026. The Senate version extends the work requirement to low-income parents of children older than 14, in addition to childless adults without disabilities. It also requires more frequent eligibility checks. But the Senate parliamentarian said a measure cutting federal funds to states that use their own money to provide health care coverage to immigrants lacking permanent legal status, along with a provision banning Medicaid from covering gender transition services, weren't in compliance with Senate rules. The steep cuts to taxes levied by Medicaid expansion states on hospitals and other providers remained in the bill despite objections by some Republicans in the Senate and House, though they will now be delayed by a year, to start in 2028. The bill also requires people above the poverty line to pay out-of-pocket copays for most Medicaid services, like lab tests or doctor visits. States will be allowed to charge up to 5 percent of a person's income per year, though some Democratic-led states may opt for a smaller amount. The Senate made sweeping cuts to climate-friendly energy tax credits — especially for wind and solar — that were passed as part of the 2022 Inflation Reduction Act. The final legislation does not allow a project to get the tax credit if it does not begin producing electricity by 2028. This is stricter than an earlier Senate version, which would have allowed projects that begin construction in the next few years to qualify for the credits. The bill would require some states for the first time to cover a share of the cost of Supplemental Nutrition Assistance Program (SNAP) benefits — which are currently completely funded by the federal government — if they have a payment error rate above 6 percent. If the error rate is 6 percent or higher, states would be subject to a sliding scale that could see their share of allotments rise to a range of between 5 percent and 15 percent. The proposal in the megabill would also allow states with rates below that level to continue paying zero percent. Republicans say the proposal is aimed at incentivizing states to get their payment error rates down, while Democrats have argued the measure could lead to states having to cut benefits. However, last-minute changes have been made to the plan that would allow for delayed implementation for states with the highest payment error rates after concerns from Republican senators in Alaska, which had the highest rate in fiscal 2024. The final bill would introduce numerous changes to student loans, including limits on borrowing and consolidation into only two repayment plans. Republicans want to cap graduate-level federal student loans at $20,500 a year, at $50,000 for law or medical school government loans, and at$20,000 for Parent PLUS loans for undergraduate students. If passed, student loan borrowers will have two repayment options: a new standard plan and a new income-driven repayment plan. Under the latter, starting in 2028, borrowers will have access to the Repayment Assistance Plan and the income-based repayment option. It would also eliminate economic hardship and unemployment deferments. The bill does allow loans to be rehabilitated twice, up from once before. Pell Grants would get additional funding in 2026 and exclude students who received full-ride scholarships to a school. It also establishes workforce Pell Grants offering help to students who enroll in short-term work programs that don't end with a college degree. The bill would add $5 trillion the nation's debt limit, which caps how much money the Treasury Department can owe to pay the country's bills. Congress last acted on the debt limit in 2023 as part of a deal that suspended the ceiling through 2024. Since January, the Treasury Department has been implementing 'extraordinary measures' to buy time for lawmakers to raise or suspend the debt limit and stave off the threat of a national default. The national debt stands at more than $36 trillion. Republicans passed a tax credit refund that would go to individuals or companies that donate to organizations that provide K-12 school choice scholarships. The provision is a major win for the school choice movement, as it will create a national program to bypass Democratic states that have been resistant to school choice initiatives. Sen. Mike Lee (R-Utah) had been pushing for a provision that would have required the sale of hundreds of thousands of acres of public land, but he abandoned that effort over the weekend. In a post on social platform X, he said, 'Because of the strict constraints of the budget reconciliation process, I was unable to secure clear, enforceable safeguards to guarantee that these lands would be sold only to American families — not to China, not to Blackrock and not to any foreign interests.' 'For that reason, I've decided to withdraw the federal land sales provision from the bill,' he added. Lee had originally proposed to sell up to 3.3 million acres of land owned by the Bureau of Land Management (BLM) and Forest Service, but he later revised his proposal to pertain to up to 1.2 million acres of the BLM land. He said he was pushing the measure to build more affordable housing. He received opposition from not only Democrats but also members of his own party, some of whom said they would vote against the bill if it contained public land sales. The legislation omits a contentious change that floated over the weekend — an excise tax on new solar and wind projects if they contain Chinese components. This surprise provision met pushback from moderate lawmakers who did not want to add an additional tax on these industries. The Senate stripped a provision barring states from regulating artificial intelligence (AI). The most recent version of the provision would have barred states from regulating AI for five years if they wanted access to $500 million in AI infrastructure and deployment funding. It cut in half the timeline of the original provision, which sought to bar state AI regulation for 10 years. Tobias Burns and Julia Shapero contributed. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
39 minutes ago
- Yahoo
Tuesday's Mini-Report, 7.1.25
Today's edition of quick hits. * The White House won't care for these comments, but Powell had a point: 'The Federal Reserve would have cut interest rates by now if President Donald Trump's tariffs weren't so substantial, central bank chief Jerome Powell said Tuesday.' * The administration's latest court defeat: 'A federal judge has ruled that recent mass layoffs at the U.S. Department of Health and Human Services were likely unlawful and ordered the Trump administration to halt plans to downsize and reorganize the nation's health workforce.' * A case worth watching: 'Sixteen states are suing the Trump administration for 'unconstitutionally' ending more than $1 billion in mental-health-related grants created to help after mass school shootings, the states' attorneys general said Tuesday.' * The deteriorating dollar: 'The dollar is off to its worst start to a year in more than half a century. The United States' currency has weakened more than 10 percent over the past six months when compared with a basket of currencies from the country's major trading partners. The last time the dollar weakened so much at the start of the year was 1973, after the United States had made a seismic shift that had ended the linking of the dollar to the price of gold.' * A gut-wrenching figure: 'More than 14 million people could die over the next five years because of the Trump administration's dismantling of the U.S. Agency for International Development, according to an analysis published Monday in the medical journal The Lancet.' * Acting suspiciously tends to heighten suspicions: 'The Department of Homeland Security has formally instituted a new requirement that members of Congress and their staff provide a week of notice before they visit immigration detention facilities, a policy that is at odds with a federal law that allows lawmakers to make unannounced oversight trips.' * I guess they're fighting again? 'President Donald Trump threatened to have the Department of Government Efficiency re-examine government support for Elon Musk's businesses, saying in a Truth Social post shortly after midnight that there was 'big money to be saved.'' See you tomorrow. This article was originally published on
