In this edition of Weekly News Spotlight, we look at how banks are responding to increased competition from fintech startups and big tech’s incursions into finance. Investors may be pouring money into CBD production in the U.S. and Canada only to be undercut by overseas competition. Often compared with U.S. President Donald Trump due to his populist streak, newly elected U.K. Prime Minister Boris Johnson may be less predictable than his friend across the pond.

Fintech in Focus

Banks ramping up digital offerings to fend off fintech, big tech

In the latest Street Talk podcast, bankers and advisers discuss the growth of digital-only platforms, the pressure they have put on deposit costs, and the investments traditional banks are making to combat the threat and improve their products.

Big tech in finance could threaten traditional bank business model, FSB says

Competition from big tech firms might "reduce the resilience of financial institutions" by affecting their profitability or reducing the stability of their funding, the Financial Stability Board said in a Dec. 9 report.

PNC CEO: Bank partnerships with big tech like selling 'yourself to the devil'

When asked if PNC would consider a partnership similar to Alphabet Inc. subsidiary Google LLC's recently announced partnership with Citigroup Inc. and Stanford FCU, CEO William Demchak was opposed.

Deep Dives

In-depth features looking at the impact of major news developments in key industries.

Politics

No one knows what kind of prime minister Boris Johnson will be

The U.K. prime minister has mobilized populist support to become the figurehead of Brexit, but his mercurial politics set him apart from Donald Trump to whom he has been compared.

Financials

Banks consider pushing pace on M&A ahead of potential Warren presidency

Banks on the fence about merging have begun to consider if they should speed up talks, as an Elizabeth Warren presidency would likely scrutinize and perhaps halt bank M&A.

US leveraged loan default rate hits 9-month high as market distress rises

While the loan default rate remains below the historical average, there are trouble signs in the market. Overall distress levels are climbing, and the share of lower-rated debt outstanding has never been higher.

E*TRADE again at a crossroads as potential acquirers ink merger

The smallest of the publicly traded brokers has long been viewed as the industry's most likely acquisition target. If management is looking to sell, the firm could draw interest from investment banks, traditional banks and rival brokerages.

Major shareholders want Deutsche Bank chairman out early — here's why

In the nearly eight years Paul Achleitner has been chairman, Germany's largest bank has lost roughly 75% of its market value, changed three CEOs and undertaken several restructurings to little avail.

Energy and Utilities

Private equity leaves midstream assets on the table as exit becomes difficult

Declining stock prices and dimmer volume growth in the midstream sector have created a disconnect between buyers and sellers over the value of the assets, according to experts who spoke with S&P Global Market Intelligence.

Renewables giant Enel sees profits improving for green power

In an exclusive interview, Antonio Cammisecra, CEO of Enel Green Power, said that better margins for wind and solar projects will be driven by the growth of corporate power deals and the company's industry-leading development pipeline.

Consumer

Alibaba, Amazon battle over US B2B market with rival platforms

Both Amazon Business and Alibaba.com are competing for American business customers at a time of high tensions between the U.S. and China.

Healthcare

World's best-selling medicine sees Q3 revenue dip as cancer drug sales surge

Third-quarter sales of AbbVie's blockbuster rheumatoid arthritis medicine Humira fell 3.7% year over year as biosimilar competition increased. Revenues of cancer therapies rose 18.0% over the same period in an analysis of select companies' sales.

Digital health M&A in pharma reaches new high in 2019 in bid for faster tech

Digital health deals are heating up as pharmaceutical and biotechnology companies look to speed up drug development processes, a notoriously lengthy and costly expedition.

Technology, Media & Telecoms

Digital companies stoking worldwide ad spending growth

Media agency executives pointed to outlays by Facebook, Netflix, Google and Amazon as driving ad expenditures, including schedules on TV.

M&A Deals of the Week

Texas Capital, Independent Bank Group combining in $3.1B all-stock MOE

Wells Fargo continues to pare down insurance operations, makes another sale

3M to sell drug delivery business for $650M to Altaris Capital affiliate

Delivery Hero eyes Asia expansion with €3.6B deal to buy Woowa Brothers

Bank M&A 2019 Deal Tracker: December starts with $3.1B merger

The Big Number

Fed keeps rates flat, suggests it may be on extended pause

The Federal Reserve kept its benchmark interest rate steady at its last meeting of the year, pausing its run of rate cuts at three consecutive meetings and signaling little hurry to change rates again.

Trending

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Weekly News Spotlight is a newsletter published every Monday that highlights exclusive industry-focused reporting, market news, and economic insights from the global newsroom here at S&P Global Market Intelligence.

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