Good morning! Here’s what you need to know in markets on Thursday.
Bank of Japan Governor Haruhiko Kuroda said low profitability at financial institutions could sow the seeds of a new financial crisis. This was his strongest warning to date of the demerits of aggressive monetary easing pursued by major central banks.
Atomico has raised a $US765 million (£613 million) fund to invest in European technology startups, shrugging off any concerns that Brexit has made it harder for venture capitalists to raise large sums. The London-based investment firm has now raised a total of $US1.5 billion (£1.2 billion) to back companies across Europe that have the potential to scale into billion dollar businesses.
Shares of Goldman Sachs ticked to an all-time high on Wednesday, gaining 0.5% to $US250.67 per share. The session not only marked Goldman’s second straight close in record territory but saw shares eclipse the October 2007 all-time high of $US250.70 per share. Intraday Goldman shares hit a high of $US251.95.
Asian stocks edged up to fresh 19-month highs on Thursday, helped by an extended rally on Wall Street and strong U.S. data though the dollar stepped back after a recent bounce. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.2%, rising to its highest since July 2015.
Yahoo is telling some of its users that hackers may have logged into their accounts, using a forged “cookie” which gives access even without a password. According to CNET, the attack was originally announced in September, but has largely been overlooked until now as the revelation was included within a larger announcement about a Yahoo security breach considered the largest in history.
Ireland’s minority government on Wednesday survived a parliamentary vote of no-confidence over its handling of a policing scandal, but Prime Minister Enda Kenny faced growing calls from members of his own party to step aside. Parliament voted 57-52 in favour of the government, with the 44 members of the country’s second largest party, Fianna Fail, abstaining.
Employment in the UK rose for another month, hitting a fresh high in January, according to the latest data released by the Office for National Statistics on Wednesday. Headline employment jumped from 74.5% at the last reading, to 74.6%, according to the ONS, with 37,000 more people in work. UK employment is now higher than at any point since the current system of record keeping began in 1971.
The Canadian luxury clothing company Canada Goose has filed for an initial public offering, or IPO. The company will list on the New York Stock Exchange and the Toronto Stock Exchange under the ticker “GOOS.” It filed for a $US100 million IPO, but that number is a placeholder and likely to change. Canada Goose said it had revenue of $US290.8 million and net income of $US26.5 million.
Advertising and communications firm MDC Partners Inc said on Wednesday Goldman Sachs Group Inc will invest $US95 million in the company and get a seat on its board. The group owns a number of creative agencies, including 72&Sunny, Doner and CP+B.
Morgan Stanley’s chief U.S. equity strategist, Adam Parker, is leaving the firm, according to an internal memo from the company on Tuesday seen by Reuters. Parker is joining hedge fund Eminence Capital as its director of quantitative strategy, according to a person familiar with the matter who declined to be identified because the matter was private.
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