Greetings,

All eyes are on pair of upcoming(ish) mega IPOs from SpaceX and OpenAI to get a clearer picture on market demand for new listings. This test comes as the global M&A market boasts record activity -- despite a recent slowdown driven by war in the Middle East -- largely driven by mega mergers.

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Mega IPOs from SpaceX and OpenAI are poised to raise tens of billions of dollars in the coming months, with SpaceX alone expected to seek over $75 billion at a possible $1.75 trillion valuation. These high-profile tech and AI listings are being closely watched as key tests of global investor demand and U.S. market capacity, following a quarter marked by blockbuster deals and persistent volatility.

Global M&A activity reached about $1.3 trillion in the first quarter, up nearly 20% year over year and driven by megadeals including Unilever's $44.8 billion food unit sale. Despite a recent slowdown linked to the Iran war and market volatility, dealmakers say strong financing conditions and long-term strategic priorities continue to support activity.

US consumer confidence rose unexpectedly in March, according to The Conference Board, despite concerns about the labor market and rising inflation expectations amid a 50% surge in oil prices. The Labor Department reports job openings fell by 358,000 in February, hiring dropped to a six-year low and layoffs increased to 1.721 million.

The Ontario Securities Commission has accused KPMG of failing to properly value loans in audits of funds managed by Bridging Finance, which collapsed in 2021. The OSC alleges KPMG falsely represented the quality of its audits for the fiscal years of 2019 and 2020, potentially harming investors. KPMG says it disagrees with the OSC and stands by its work.

Democratic members of the House Financial Services Committee are raising concerns about the private credit industry, sending inquiries to major firms such as Blackstone, Ares Management, Apollo Global Management, BlackRock, Blue Owl Capital, Carlyle Group and KKR. The questions focus on topics such as sales practices, leverage and risk management.

Princess Awesome, a small clothing company based in Maryland, describes the significant challenges that resulted from tariffs imposed by President Donald Trump. The company's owners say the tariffs nearly devastated their business, forcing them to find creative solutions to stay afloat.

Datarails' research shows increasing demand for artificial intelligence skills in finance job listings, with 31% mentioning AI or machine learning this year, up from 25% last year. CFO salaries are the only ones rising, with average "lower-range" salaries up 9% and "higher-range" salaries up 3%, while salaries for controllers, FP&A leaders and accountants have decreased. The study also notes a decline in the importance of problem-solving skills and a rise in the demand for organizational skills.

A Gartner survey of CFOs highlights the challenges of acquiring and developing artificial intelligence and digital talent amid a volatile environment. By 2030, leading finance functions are expected to transform into more technically skilled, product-oriented teams that can manage AI-driven workflows and deliver scalable insights.