Credit & Capital

M&A

PNC to Buy BBVA’s U.S. Unit for $11.6B

The cash deal would be the second largest in the banking sector since the 2008 financial crisis.
M&A

Home Depot Eyes Pro Market With HD Supply Buy

The $8 billion deal will extend Home Depot's reach into the $55 billion market for maintenance, repair, and operations products.
M&A

Walmart Offloads 85% Stake in Seiyu to KKR, Rakuten

KKR will acquire 65% of the Japanese retailer and Rakuten will take a 20% share through a newly-created subsidiary.
IPOs

DoorDash Heads to IPO With Pandemic Sales Surge

The No. 1 food-delivery service's revenue more than tripled in the first nine months of 2019 though it warned the pandemic-fueled spurt may not last.
Credit

Main Street Program Gets First Nonprofit Borrower

The Sun Belt Conference's commissioner believes its $4.4 million loan from the Fed program is "really going to help us do what we need to do."
M&A

Spotify to Buy Podcast Ad Platform Megaphone

The companies said the deal would make streaming ad insertion available to third-party publishers.
Credit

Rocket Companies Revenue Up 163% in Record Q3

The parent company of Rocket Mortgage and Quicken Loans reported adjusted revenue of $4.74 billion.
M&A

VF Corp. to Buy Supreme for $2.1B

The parent company of Vans and The North Face said that the deal would accelerate its digital business model transformation.
The Cloud

Adobe to Strengthen Its Cloud Segment With $1.5B Workfront Acquisition

The deal enables Adobe to upgrade its marketing software with collaboration tools for remote work management.
Credit

Banks Report Tightening Loan Standards in Q3

A Fed survey shows banks are continuing to raise the bar for lending in response to worsening economic conditions.
Credit

Court Orders Release of PPP Borrower Details

The decision was a victory for media organizations that sued the SBA for access to data about roughly $600 billion in COVID-19 loans to small businesses.
Payments

Bitcoin Spikes Above $15,000

"The market is thin and manipulated, and every price change is fully explained by internal market issues."
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