Global mergers and acquisitions (M&A) activity is at a 10-year low due to high interest rates and a more hostile antitrust environment. The value of M&A deals announced in the first nine months of the year was the lowest since 2013, down 28% compared to the same period last year. Major deals worth $10bn or more have also declined by 42% this year. However, there are hopes of a revival in the market despite a slow start to the year. In other news, the Federal Reserve’s indication that interest rates will remain high has caused a downturn in US stocks and government bonds, while UBS is seeking a last-minute deal with Mozambique to avoid a trial over the “tuna bonds” scandal. Nord Security has raised $100mn in a funding round led by Warburg Pincus, and the European Central Bank is using artificial intelligence to speed up its operations.
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