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Goldman Sachs is the global leader in M&A deals with $1.48 trillion.
Goldman Sachs dominated again the league tables of global dealmaking for 2025. It took the?marketshare and top spot in an year marked by high stakes political dramas and ever larger mergers. Goldman's No. 1 ranking was boosted by the rise of $10 billion deals, of which there were 68 in the last year totaling $1.5 trillion - more than twice as much as the previous year. According to LSEG data, Goldman has the No. 1 ranking. The firm was involved in 38 of these 'deals', more than any other investment banking firm, and the total value of the deals it advised on was $1.48 trillion. This was the most successful period in terms of mega deals since LSEG began keeping records in 1980. Goldman's global co-head of M&A Stephan Feldgoise called 2025 "an exceptional M&A year" and told clients that the "ubiquity in capital" was driving activity, according to 2026 M&A forecasts from the investment bank. Goldman was ranked No. Goldman ranked No.1 in two areas of importance: M&A revenue and the overall value of deals it worked on. It gained market share in both. According to LSEG, it was paid $4.6billion in M&A fee revenue, followed by JPMorgan with $3.1billion, Morgan Stanley with $3billion, Citi at 2billion and Evercore $1.7billion. Goldman, JPMorgan, and Morgan Stanley ranked first, second, and third in terms of the volume of transactions, respectively. Bank of America, Citi, and Citigroup rounded out the top five. Goldman's share of the announced M&A in Europe, Middle East, and Africa was 44.7% by 2025. This level has only been exceeded once, in 1999. Dealmakers claim that looser regulations allowed them to make deals in all sectors, even though technology was the main driver. The more permissive antitrust enforcement of U.S. president Donald Trump gave industry titans confidence to team up and partner on the biggest deals in railways, consumer goods, media, and technology. Goldman dominated the M&A market last year with $1.48 trillion worth of deals, or 32%, according to LSEG. However, Goldman was not involved in the two largest M&A transactions: Union Pacific's $88.2 Billion purchase of Norfolk Southern by the railway, nor the heated bidding battle for Warner Bros Discovery. Bank of America and Wells Fargo, as well as a few boutique investment banks, also got a piece of these two mega deals. CEOs are looking to scale their operations. The desire to grow is strong, and this has prompted boardrooms and the C-suites to be more proactive. People aren't waiting for a business to be sold to start M&A activities, according to Anu Ayiengar of JPMorgan, global head for advisory and M&A. JPMorgan was a major advisor to Warner Bros for its sale, and also helped Kimberly-Clark in its $50.6 Billion purchase of Tylenol manufacturer Kenvue. These were the two biggest deals the bank had done this year. JPMorgan beat Goldman in the race to be the most-paid global investment firm after factoring in fees for equity and debt capital markets. The bank earned $10.1 billion, compared to $8.9 million from Goldman. The dueling bids by Paramount Skydance and Netflix for Warner Bros, at $108 billion and $9 billion, respectively, and including debt, catapulted some banks, boutiques and firms such as Wells Fargo and Moelis and Allen & Co as well as the law firm Latham and Watkins to the top of M&A's list. Wells, the firm that advised on 10 $10 billion deals or more, including Netflix’s bid for WBD and Wells Fargo's advice, jumped eight spots from 2024 to number one. 9. Moelis Boutique Bank, which advised Netflix as well, has jumped three rungs ahead in 2025 to be ranked No. 16. The deal was one of five worth over $5 billion each, including the sale of Essential Utilities for $20 billion. It could be determined by the winner of Warner Bros' bid if they remain at their current rankings. LSEG, a data provider, says that advisors from both bidders currently get credit for the rankings. However, this will change when Warner Bros decides on a winner. RedBird Capital Partners & M. Klein & Co. are now contenders for the top 25 thanks to the work they did for Paramount. LSEG stated that the Warner Bros board was leaning 'toward rejecting Paramounts latest offer', according to people familiar with its thinking. Wells would gain two spots in the rankings if Paramount withdraws their offer. Paramount's M&A team, however, would lose one, according to the data. Charles Ruck is the global chair of LSEG No. Latham & Watkins ranked No. 1 in M&A legal advice, attributed the increasing number of large transactions to "size creep." Deals are more expensive because the Nasdaq and S&P 500 both finished higher last year. Latham was involved in the Paramount deal, the $55 billion leveraged purchase of Electronic Arts video game maker and the $40 billion sale Aligned Data Centers. He said that the market was even more ready for consolidation. In an interview, he stated that "the pipeline is full." "All the macro indicators are there, correct? The interest rates are falling, making it easier for private equity firms to make deals and achieve their targets. The IPO market has not been as strong as anyone would have hoped, so M&A is the way to go for exits. You've got an environment that is largely friendly to the regulatory system, which helps determine who wins and loses."
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Turkey eliminates the 30-euro limit on goods sent via mail
According to an official gazette published on Wednesday, the Turkish government has abolished a duty-free allowance of 30 euros ($35) for non-commercial items purchased abroad via mail or express cargo. The decision in the Gazette stated that the new rule would take effect within 30 days. Small personal orders from popular shopping sites abroad are likely to be affected by the new regulation. In 2024, the threshold was lowered from 30 euros to 27 euros, with an additional 3 euro shipping charge. Taxes are levied on goods shipped to Turkey which are not commercial. These taxes are 30% for EU origin products, 60% for other items and 20% for certain items.
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German emissions declined only modestly by 2025, due to building and transport
Agora Energiewende, a think tank for energy, said that Germany's greenhouse gases emissions will only fall marginally by 2025 due to a lack of progress in reducing pollution from transport and buildings. Agora's annual report stated that Germany will emit 640 million tonnes of carbon dioxide by 2025. This is a decrease of 9 million tons or 1.5% from the previous year. Agora's calculations showed that while Germany met its national annual emission target for 2025 the?reduction in emissions was less than half of the savings recorded in the year 2024. Agora stated that the decline in emissions in 2025 was partly driven by a?lower production in energy-intensive industries amid prolonged weak market conditions and stretched global market conditions and partly by record solar electricity generation. Julia Blaesius is the director of Agora Energywende Germany. She said that wind and solar power will continue to be a?backbone for Germany's energy transformation in 2025. Blaesius stated that "However, power sector – so far the driving force behind emission reductions – cannot compensate permanently for the shortcomings of?switching climate technologies in 'transport and buildings" Agora estimates that emissions from buildings increased by 3.2% in comparison to 2024, while those in the transportation sector rose 1.4%. (1 euro = 0.92 dollars) (Reporting and editing by Maria Martinez, Holger Hansen)
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US House panel will consider legislation to speed up self-driving vehicle deployment
On January 13, a U.S. House of Representatives 'committee' will hold a hearing to discuss legislation that aims to make it easier for autonomous vehicles without the need for human control. Congress has been split for years on whether or not to pass legislation to overcome deployment obstacles. The National Highway Traffic Safety Administration is not granting exemption requests by major automakers, but has maintained safety regulations. The current law allows NHTSA?to exempt up to 2,500 vehicles per automaker annually if the company can prove that it would be safe. The Teamsters union and consumer groups have expressed concern about self-driving cars. In June, major automakers called on Trump to act?faster. Hearings are planned by the House Energy and Commerce Subcommittee to examine several draft proposals, including one that would allow vehicles to be operated without human control up to 90,000. Other proposals will address automaker complaints about obstacles to robotaxi deployment. Automakers, for example, say that safety standards like those requiring steering wheels or rear-view mirrors in vehicles are not necessary for robotaxis. A bill currently under consideration would prohibit states from establishing rules for autonomous driving systems, while another would mandate that NHTSA establish guidelines for calibrating advanced drivers assistance systems. Tesla launched a robotaxi service in Austin, Texas last year, with safety monitors, and Alphabet's robotaxi division Waymo is aggressively expanding to new markets. Mercedes-Benz announced on Monday that it would launch an advanced driver-assistance program in the U.S. this year. The system will allow its vehicles to operate autonomously within city streets while under driver supervision. U.S. Transportation secretary Sean Duffy stated in?April, that a new framework for the department to promote autonomous vehicles will help U.S. automobile manufacturers compete with Chinese competitors. After a pedestrian was injured by a General Motors vehicle in October 2023, the NHTSA opened several investigations into self-driving cars operated by Amazon.com Zoox and Waymo. Last year, the NHTSA said that it would expedite reviews of automaker requests to deploy self driving vehicles without human controls. The House of Representatives passed legislation in 2017 to speed up the adoption of self driving cars and prohibit states from setting performance standards. However, the bill failed to pass the U.S. Senate. Reporting by David Shepardson, Washington; Editing and review by Chris Reese & David Gregorio
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Analysts say that the impact of Venezuela on CANADA-CRUDE - Western Canada Select is likely to be limited for now.
The difference between the West Texas Intermediate benchmark futures and Western Canada Select futures has widened since Tuesday, but analysts say that Canadian heavy crude will not be impacted by Venezuela's situation in the short-term. WCS for Hardisty, Alberta delivery in February settled at $13.80 per barrel below WTI benchmark, according to brokerage CalRock. This compares with $13.55 a barge on Monday. Analysts and traders assess the 'potential for further weakness,' but the capture by the U.S. of Venezuelan President Nicolas Maduro so far has had a minimal impact on the Canadian differential. A TD Cowen Report said that a 'rapid ramp up of Venezuelan oil output could significantly pressure Canadian heavy crude oil prices in the mid-term. This is unlikely. The report stated that Canada's size, rule of law and infrastructure work in its favor. If Venezuela significantly increased its production, it would give its heavy oil barrels an advantage in terms of location over Canadian heavy crude oil barrels on the U.S. Gulf Coast. ATB Capital reported that the majority of Canada's oil exports go to the U.S. Midwest. This region is less vulnerable due to its proximity to Canada and existing pipeline system. ATB Capital stated that Canadian oil prices will be more affected by OPEC+ policy in the future, Canadian egress from the west coast, Russian exports and global demand than the situation in Caracas. The global oil price fell on Tuesday, as the market weighed the expectations of an ample supply of crude this year with the uncertainty surrounding Venezuelan crude production after the U.S. captured Nicolas Maduro.
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Sources: Telecom Italia and Fastweb are looking to save money on 5G with Italy's network agreement
Three sources said that Telecom Italia and Swisscom's Italian division Fastweb were close to a deal for a network sharing agreement. This would help them cut the costs of upgrading and operating 5G infrastructure in Italy. According to Asstel, Italian telecom firms want to revamp their "business model" after losing almost a quarter of their revenue in 2010 and having their post-investment funds drop to zero. In 2010, they had 10.5 billion euro ($12 billion), but that year it was down to zero. The deal will help TIM, and its rival Fastweb, upgrade their'mobile networks' to 5G, a technology that was built from scratch, rather than based on 4G. Meanwhile, the sector is still being squeezed by fierce competition. According to a source with knowledge about the deal, TIM could save up to 300 million Euros over ten years. The project is code-named Prism internally and has not been reported previously. It covers active network components, such as antennas and base stations. The people declined to name themselves as the plans were not made public. Two sources stated that the parties aim to complete a final agreement by early march after reaching a preliminary agreement in recent weeks. Fastweb and Telecom Italia representatives declined to comment. Upgrade your network! Fastweb became Italy's leading mobile operator in 2013 after buying out Vodafone's local operations for 8 billion euros. The agreement with TIM will revive a network sharing plan that TIM,?Vodafone and INWIT agreed on but never implemented after their merger in 2019. People said that the?deal' would require each operator to upgrade the technology in specific areas, to avoid duplication of investment and manage costs. Spectrum sharing is also expected.
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Teen dies after bus strikes ultra-Orthodox demonstrators in Jerusalem
On Tuesday in Jerusalem, a mass ultra-Orthodox Jewish protest against military conscription ended tragically when a teenager was crushed to death after a driver of a bus struck the crowd. Israeli police confirmed that they have detained the driver, and are currently investigating. A video of the incident shows the bus crashing into the crowd of ultra-Orthodox protesters. ? The police were unable to contact the driver immediately while he was in custody. Magen David Adom emergency service in Israel?said that the 18-year old, who was trapped under the bus and pronounced dead at the scene. Benjamin Netanyahu has been under increased political pressure in the last year because of the 'debate about mandatory military service and those who are exempt from that. Since long, ultra-Orthodox students in seminaries have been exempted from military service. Many Israelis criticize what they perceive as an unfair burden that is carried by those who serve. Religious leaders fear that army service will weaken their ultra-Orthodox community's sense of religious identity. In the midst of increased military activity, the?issue of service in the military has become a major source of tension. Israel's military has suffered its highest death toll for decades in the past two years due to conflicts involving the Gaza Strip and other countries such as Lebanon, Syria, Yemen, and Iran. Reporting by Emily Rose, Tamar Uriel Beeri and Lisa Shumaker.
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Goldman Sachs is the global leader in M&A deals with $1.48 trillion.
Goldman Sachs dominated again the league tables of global dealmaking for 2025. It took the market share and top spot in an year that was marked by high stakes political dramas and ever-larger mergers. Goldman's No. 1 ranking was boosted by the rise of $10 billion deals, which totaled $1.5 trillion last year, or more than double the previous year. According to LSEG data, Goldman ranked No. 1 in the world. The firm was involved in 38 of these deals, more than any other investment bank. Total volume of advised deals was $1.48 trillion. This was the most active period in terms of mega deals since LSEG began keeping records in 1980. Goldman's global co-head of M&A Stephan Feldgoise called 2025 "an exceptional M&A year" and told clients that the "ubiquity in capital" was driving activity, according to 2026 M&A forecasts from the investment bank. Goldman was ranked No. Goldman ranked No.1 in two areas of importance: M&A revenue and the overall value of deals it worked on. It gained market share in both. According to LSEG, it was paid $4.6billion in M&A fee revenue, followed by JPMorgan with $3.1billion, Morgan Stanley with $3billion, Citi at 2billion and Evercore $1.7billion. Goldman Sachs, JPMorgan, and Morgan Stanley occupied the first, second, and third positions, respectively, in terms of volume of transactions, followed by Bank of America, and Citi. According to LSEG, Goldman held a 44.7% market share in 2025 for announced M&As that involved Europe, Middle East, and Africa. This level was only surpassed once, in 1999. Dealmakers claim that a looser regulatory environment made previously prohibitive deals across all sectors possible. The more permissive antitrust enforcement of U.S. president Donald Trump gave industry titans confidence to team up and make the biggest deals in the rails, consumer products, media, and technology sectors. Goldman dominated the M&A market last year with $1.48 trillion worth of deals, or 32%, according to LSEG. However, Goldman was not involved in the two largest M&A transactions: Union Pacific's $88.2 Billion purchase of Norfolk Southern by the railway, nor the heated bidding battle for Warner Bros Discovery. Bank of America, Barclays and Wells Fargo and several boutique investment banks all got a piece of these two mega deals. CEOs are looking to scale operations. The desire to scale up and grow strategically is high. This has led boardrooms to become more proactive. People aren't waiting for a business to be sold to start M&A activities," Anu Ayiengar said in an interview. JPMorgan was a major advisor to Warner Bros for its sale, and also helped Kimberly-Clark in its $50.6 Billion purchase of Tylenol manufacturer Kenvue. These were the two biggest deals the bank had done this year. JPMorgan beat Goldman in the race to be the most-paid global investment firm after taking into account fees from equity and debt capital markets. The bank earned $10.1 billion, compared to $8.9 for Goldman. The dueling bids by Netflix and Paramount Skydance for Warner Bros, at $108 billion and $9 billion, respectively, plus debt, helped propel some law firms and banks to the top of the list. These included Wells Fargo and Moelis & Allen & Co as well as Latham and Watkins. Wells, the firm that advised on 10 $10 billion or more deals, such as Netflix's bid to acquire WBD, jumped eight spots from 2024 up to number one. 9. Moelis Boutique Bank, which advised Netflix as well, has jumped three rungs ahead in 2025 to be ranked No. 16. The deal was one of five worth over $5 billion each, including the sale of Essential Utilities for $20 billion. It could depend on the winner of Warner Bros' bid if they remain at their current ranking. LSEG, a data provider, says that advisors from both bidders currently get credit for the rankings. However, this will change when Warner Bros selects a winner. RedBird Capital Partners,?M. Klein & Co. is a contender in the top 25, despite not making the top 120 list last year. This is thanks to the work they did for Paramount. LSEG stated that the Warner Bros board was leaning towards rejecting Paramount’s latest offer. People familiar with board thinking previously told us. Wells would gain two spots in the rankings if Paramount rescinds their offer. Paramount's M&A team, however, would lose one, according to the data. Charles Ruck is the global chair of LSEG No. 1's corporate department. Latham & Watkins ranked No. 1 in M&A legal advice, attributed the increasing number of large transactions to "size creep." Deals are more expensive because the Nasdaq and S&P 500 both finished higher last year. Latham was involved in the Paramount deal, the $55 billion leveraged purchase of Electronic Arts video game maker and the $40 billion sale Aligned Data Centers. He said that the market was even more ready for consolidation. In an interview, he stated that "the pipeline is full." "All the macro indicators are there, correct? The interest rates are falling, making it easier for private equity firms to make deals and achieve their targets. The IPO market has not been as strong as anyone would have hoped, so M&A is the best way to exit. You've got an environment that is largely friendly to the regulatory system, which helps determine who wins and loses."
Boeing agrees deal to purchase Spirit Aero for $4.7 billion - sources
Boeing agreed on Sunday to get Spirit AeroSystems for more than $4. billion, two individuals familiar with the matter said, ending months. of talks over a deal the U.S. planemaker hopes will assist relieve a. spiralling security crisis.
Boeing will pay $37.25 per share for Spirit Aero, in an. all-stock deal, the two people stated. The boards of Boeing and. Spirit fulfilled on Sunday and consented to terms, and an official. announcement is most likely early on Monday, they stated.
The acquisition values Spirit at around $4.7 billion,. according to among the sources.
The offer, which undergoes regulative approvals,. would result in the break up of Spirit, with some of the. Kansas-based provider's assets
going to French planemaker Airbus
.
Plane, Spirit and Boeing declined to comment.
Boeing is attempting to move past a year of problems. stimulated by a Jan. 5 mid-air blowout of a door plug on a new 737. MAX 9 jet that exposed myriad safety and quality problems. Those. issues have led to a substantial slowdown in output at Boeing -. rippling across the worldwide industrial aviation market.
Spirit, the manufacturer of the door plug, was spun off. from Boeing in 2005 in among a series of moves that critics state. were emblematic of a focus on cost-cutting over quality.
Boeing made the decision to buy back Spirit in the. after-effects of the Jan. 5 occurrence, which took place on an Alaska. Airlines-operated flight, as part of an effort to reform. its security problems and shore up its assembly line.
Boeing had actually previously discussed paying $35.50 per share in. cash for Spirit, however this was raised to $37.25 when the. contract moved to stock, one of the sources stated.
The terms of a parallel offer for Spirit to offer its. Europe-focused operations to Jet were not immediately clear.
People familiar said both offers were set to be revealed. in tandem early on Monday. The twin relocations total up to a. transatlantic break up of the world's largest independent. aerostructures maker, which has branched off to make parts for. Airplane and others because being spun off by Boeing nearly 2. years earlier.
PRODUCTION CAP
Buying Spirit Aero will not instantly deal with Boeing's. issues.
Following the January door plug event, the Federal. Air travel Administration enforced a cap on production of Boeing's. very popular MAX jets.
On Sunday, reported that the U.S. Justice Department. will criminally charge Boeing with scams over two deadly crashes. and ask the planemaker to plead guilty or face a trial.
The iconic U.S. business has been losing market share to. Plane for years, and it is still dealing with the consequences of. twin crashes that killed almost 350 individuals and required a. grounding of the 737 MAX.
Those crashes resulted in the consultation of present CEO Dave. Calhoun, who was generated to solve the problems at the. producer, however who will leave later on this year with the. business under higher regulative scrutiny and with a reputation. that has actually taken a whipping.
U.S. senators on June 18
sharply criticized Calhoun
for the planemaker's safety problems and consistently. questioned him about his income. Some airlines have vented their. aggravation with Boeing openly and privately due to shipment. delays and the business's continuous issues.
Boeing just recently sent an extensive plan to the FAA. dealing with systemic quality-control concerns at the business.
(source: Reuters)