Latest news with #EY
Yahoo
10 hours ago
- Business
- Yahoo
IPOs surge 35% in H1 despite policy shifts, market volatility: EY
This story was originally published on CFO Dive. To receive daily news and insights, subscribe to our free daily CFO Dive newsletter. Dive Brief: The number of U.S. initial public offerings surged to 109 during the first half of 2025, increasing 35% compared with the same period last year despite stock market volatility and shifts in tariff and other policies, EY said. Although the number of IPOs is the biggest first-half tally since 2021, proceeds from offerings fell to $17.1 billion, or 9% less than the same period last year, EY said in a report. The IPO outlook worldwide 'remains cautiously optimistic,' with a solid pipeline for large offerings and a steady stream of smaller deals, EY said. Still, 'a broad-based resurgence in global IPO activity depends critically on cooperative trade frameworks, accommodative monetary policy, controlled inflation and geopolitical de-escalation.' Dive Insight: Unusually high policy uncertainty roiled the stock market during the first six months of the year, EY said, noting that the CBOE Volatility Index careened between 14.8 and 52.3, a gap five times wider than during the same period in 2024. The so-called VIX measures expected volatility in the Standard & Poor's 500 stock index. 'Fueled by uncertain U.S. trade policy and ongoing geopolitical tensions in Eastern Europe and the Middle East, this heightened volatility is compelling companies to reimagine their exit strategies, stay private longer or pursue listings with smaller float sizes,' EY said. Shifts to trade, regulation, immigration and fiscal policies by the Trump administration have prompted Federal Reserve policymakers to hold off on trimming borrowing costs until they can determine the impact of such changes to inflation, employment and financial markets. 'Market volatility serves as a critical barometer for IPO activity,' signalling investor expectations for future price movements and influencing 'sentiment, valuation multiples and public market receptivity to new offerings,' EY said. Higher volatility usually indicates risk aversion and poses a challenge for IPO candidates. Yet global capital markets this year are apparently adapting to political and geopolitical shocks, improving the outlook for IPOs, EY said. 'Trade tariffs, regional conflicts and macro-policy uncertainty — once primary triggers for volatility — are increasingly being priced into asset valuations, with investors and companies adjusting to what many now regard as a 'new normal,'' according to EY. After turbulence during the first six months of 2025, equity markets have regained ground, the VIX and other 'fear indexes' have stabilized and companies launching IPOs are diversifying to markets with deep pools of capital such as Hong Kong, EY said. IPO activity in the U.S., Canada and Latin America quickened late in the second quarter as concerns about tariffs and economic vulnerabilities eased, EY said. U.S. IPOs in the period rose 20% on average during the first day of trading, and offerings that raised $50 million or more in gross proceeds returned 40% through the end of Q2, EY said. Five of the 10 largest IPOs occurred during June, Rachel Gerring, EY Americas IPO leader, said. 'This suggests that IPO aspirants are proactively preparing and becoming increasingly agile, seizing market opportunities as they arise,' she said in a statement. 'With this renewed momentum, we remain optimistic about the remainder of 2025, assuming broader economic indicators remain stable,' Gerring said. 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
Time of India
a day ago
- Business
- Time of India
CA Vishnu Gupta & CA Prakhar Gupta launches book titled ‘How the Wealthy Borrow to Win'
CA Vishnu Gupta and CA Prakhar Gupta launched their debut book, How the Wealthy Borrow to Win , amidst an audience of 400+ business owners, CAs, and dignitaries. The evening opened with the ceremonial unveiling, followed by a keynote where the authors decoded the strategies wealthy entrepreneurs use to raise capital confidently — turning debt into a growth lever, not a distress move. The event drew guests not only from Indore, but also from Mumbai, Delhi, Chandigarh, Assam, Bangalore, Puducherry, Chennai, Hyderabad, Pune, Jabalpur, Bhopal, Raipur, Surat, Gurugram, Jaipur, and even from abroad. CA Vishnu Gupta, a veteran of 30+ years in funding, has guided some of Central India's most iconic business journeys with his strategic clarity, ethical foundations, and mastery of banking systems. From conducting high-impact audits to enabling multi-crore corporate funding, his voice carries rare credibility. At the launch event, he shared, 'Funding is not about documents. It's about clarity, timing, and trust. ' CA Prakhar Gupta, at a mere age of 25, brings fresh energy and insight. An All India Ranker in CA, IIM Indore Executive alumnus and former EY associate, he represents a new lens of financial strategy. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If you have a mouse, play this game for 1 minute Navy Quest Undo 'Borrowing isn't risky. Borrowing without structure is,' he said. With sharp articulation and grounded empathy, he now leads VSP Consultants' mission to help 10,000 businesses unlock capital — with confidence. The book launch also featured keynote addresses from the Chief Guests: Suresh Prabhu, India's former Union Minister across railways, power, commerce and civil aviation — a statesman respected globally for his clarity and vision — and Vinod Agrawal, managing director, Agrawal Coal Corporation, and a stalwart industrialist. How the Wealthy Borrow to Win is a practical guide for entrepreneurs who want to design debt with foresight. It simplifies lender logic, breaks common myths, and introduces structured thinking around capital. With case studies, checklists, and mental models, it equips ambitious founders to raise funds smartly, ethically, and effectively. The book has already been endorsed by business and financial luminaries including Dilip Suryavanshi, Dilip Buildcon, Manoharlalji Agrawal, Haldiram's, Padma Shri CA T.N. Manoharan, and Brij Mohan Sharma, ex-Executive Director, Canara Bank. The evening concluded with a heartfelt vote of thanks, where the authors acknowledged their mentors, clients, team, and families — and invited India's entrepreneurs to see finance not just as numbers, but as a mindset shift.
News18
a day ago
- Business
- News18
India's IPO Market Among World's Most-Active: Report
India's IPO valuations remain elevated, with a price-to-earnings ratio of around 27x—on par with US markets India remains one of the most active IPO markets globally by number of listings. However, continues to trail the US and China in total capital raised, according to EY's latest Global IPO Trends report. In the first half of 2025, Indian markets saw 108 IPOs raise $4.6 billion—accounting for just 8% of global IPO proceeds, compared to 28% for the US and 34% for China. While fundraising dipped marginally by 2% year-on-year, the number of IPOs declined 30%, indicating a strategic shift toward fewer but higher-quality listings. The EY report notes that issuers are becoming more selective about timing and structure, while investors are prioritising companies with strong fundamentals and clear growth visibility. The subdued activity comes against a backdrop of global uncertainty, with many firms delaying IPO plans or revising valuations amid geopolitical and macroeconomic volatility. Despite the cautious tone, the second half of the year could witness a pickup, supported by a strong pipeline from sectors like technology, fintech, and healthcare. Several companies have already secured regulatory approvals and are on standby, awaiting more favourable market conditions. Globally, the IPO landscape has been mixed. The US recorded 109 IPOs—the highest first-half tally since the 2021 boom—but raised comparatively lower funds. China saw a 30% jump in deal activity, with proceeds tripling due to larger offerings and robust investor interest. EY outlines two divergent scenarios for the rest of 2025. In one, easing global headwinds could boost IPO momentum. In the other, persistent macroeconomic stress could keep both issuers and investors in wait-and-watch mode, slowing down activity and tempering valuations. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Politico
2 days ago
- Business
- Politico
Republican tax law leaves experts searching for words
At the same time, it remains to be seen whether Republicans' decision to dub their new savings accounts for children 'Trump accounts' will prove a marketing misstep that will blunt its appeal to the 75 million Americans who voted for Kamala Harris. The overall legislation was christened by Trump, but the 'One Big Beautiful Bill Act' was scrubbed from the legislation once it got to the Senate, after Democratic leader Chuck Schumer had it struck as a violation of the chamber's internal rules — the latest shot in a long-running feud in which the two parties take turns deleting the names of each other's reconciliation bills. 'I just forced Republicans to delete their ridiculous bill name,' Schumer wrote shortly thereafter on X. 'Nothing about this bill is beautiful.' Technically the legislation is now called 'An act to provide for reconciliation pursuant to title II of H. Con. Res. 14.' Of course, that isn't stopping many from still using the now-unofficial name. 'One Big Beautiful Bill Act' was the winner in a recent EY survey of 10,000 tax pros asking how they referred to the tax law. 'OB3" came in a close second. A similar survey by Grant Thornton also had those names going one-two. Over at the Tax Policy Center, senior fellow Howard Gleckman prefers the colloquial '2025 budget act' or, simply, 'the big budget bill.' The studiously nonpartisan Congressional Budget Office, meanwhile, uses the extremely neutral 'H.R. 1.' Some of the individual provisions have been renamed to reflect substantive changes made by the legislation. 'GILTI' was made obsolete by Senate Republicans' revisions to how multinationals will be taxed. The original tax was intended to target profits from things like patents that businesses squirreled away in tax havens. Republicans had trouble coming up with a way of legally defining those earnings, so in the 2017 law they essentially said GILTI was everything except profits resulting from tangible assets like factories. The idea was to distinguish between the money companies made from their actual operations abroad from things that were just accounting maneuvers. Naturally, the tangible stuff got its own acronym — QBAI, or Qualified Business Asset Investment. But the new law dumps QBAI, and so the distinction made by GILTI no longer matters, leaving the tax world with 'Net CFC Tested Income.' Something similar is happening with FDII, or Foreign Derived Intangible Income, another provision that originated in 2017. It's a deduction for companies with overseas profits from intellectual property held in the U.S. — although it's probably best known for inspiring a years-long dispute about whether it should be called 'Fiddy' or 'F-D-I-I.' QBAI was part of the calculations that went into FDII, so, with QBAI now going away, FDII is also renamed in the new law, as the Foreign Derived Deduction Eligible Income, or FDDEI. But if anything, it's even less clear how to shorthand that. Warren Payne, a former Republican tax aide now at the firm Mayer Brown, says he's heard it called 'Fa-Day' — though he's not going there. 'I haven't figured out how to pronounce it,' he said. 'I just spell it out.'
Fashion Network
2 days ago
- Business
- Fashion Network
UK-listed retailers issued more profit warnings in Q2
More concern for UK retail with listed FTSE retailers issuing seven profit warnings during Q2 2025, more than double the amount recorded in the previous quarter, according to EY Parthenon's latest Profit Warnings report. FTSE retail companies issued four profit warnings during the period, but combined with the FTSE Personal Care, Drug and Grocery sector, which includes supermarkets, there were seven warnings from listed retailers. Despite this increase, in the first half of 2025, FTSE Retailers issued a total of six profit warnings, a significant fall from the 12 warnings issued during the same period last year. Silvia Rindone, EY Partner and UK&I Retail Lead, said: 'This [Q2] spike highlights both softening consumer demand and the deeper structural headwinds facing the sector. Retailers we speak to tell us that falling sales are currently indicative of a longer-term shift, with consumers becoming more value-focused and less brand-loyal, which leaves cost-pressured retailers in a bind." She added: 'Despite ongoing pressures, including the rise in National Insurance Contributions and the National Living Wage, alongside tariffs, investment in technology including AI remains essential. The winners will be those who get the basics right, such as range, service, and pricing, whilst continuing to build for the future with leaner models, sharper propositions and digital resilience.' In Q2, the number of profit warnings issued by UK-listed companies overall rose by 20% to 59 compared to 49 in the same period last year. Over the last 12 months, nearly a fifth (19%) of UK-listed businesses have issued at least one profit warning. The leading factor behind profit warnings during the second quarter was policy change and geopolitical uncertainty, cited in nearly half (46%) of warnings. This marked a significant increase from just 4% in Q2 2024, and the highest percentage recorded for this cause in more than 25 years of EY's analysis.
