Capital Economy, Business and Finance
Hats off to Prada for striking a deal during a trade war.
The fashion group has acquired Versace from Capri Holdings for $1.38 billion, despite fears the deal would be scuppered last minute due to market turbulence.
As for the wider M&A boom expected at the beginning of the year? Most plans are on ice.
Klarna and Stubhub have paused their initial public offerings.
First quarter banking results kick off today and are expected to show a boost in trading revenues driven by volatility, but revenue from dealmaking among the big five is expected to grow by only 3 per cent.
Much of that is from fees relating to mergers already announced; the number of new deals unveiled since the start of January is the lowest in more than a decade.
