Big Business Moves Across the Globe

Law Firms Join Forces: Ashurst & Perkins Coie Merge

As reported by Reuters, in a move that shakes up the legal world, UK‑based firm Ashurst and U.S.-based Perkins Coie have agreed to merge. Together, they will form a new law firm called Ashurst Perkins Coie, creating a powerhouse with 3,000 lawyers across 52 offices in 23 countries. 

• The combined firm projects $2.7 billion in annual revenue, putting it solidly among the world’s top‑20 law firms.

• Leadership will be shared: Paul Jenkins (Ashurst) and Bill Malley (Perkins Coie) will act as co-CEOs.

• According to the two firms, the merger aims to deliver stronger cross-border legal services in technology, financial services, infrastructure, and energy. 
  

Merging enables both firms to achieve greater scale, particularly in high-growth sectors such as technology and infrastructure. It sends a signal in global business that having a broad, international footprint is becoming more valuable than ever.

China’s Rare Earth Export Surge to the U.S.

Also in InvestingLive, China has dramatically boosted its exports of rare earth magnets to the United States, materials that are vital for high-tech manufacturing (think electric vehicles, wind turbines, and more).

• In June, shipments jumped roughly 660% compared to May, according to Chinese customs data.

• These minerals are especially important for tech industries, making this trade flow a key lever in global supply chains. 

• The surge follows eased trade tensions and warnings from some governments about relying too heavily on one country for these critical components. 

Rare earth elements are not “rare” in the traditional sense, but they’re very difficult and expensive to extract and process. China already dominates much of its production. A spike in exports could help U.S. and global tech companies, but it also highlights how dependent the world is on China for these crucial materials.

Kraken Is Now a $20 Billion Crypto Powerhouse

Blockhead reported that crypto exchange Kraken just raised $800 million in a major funding round, bringing its valuation up to $20 billion. 

• The investment came in two parts: a large tranche from top-tier investors like Jane Street, Tribe Capital, and others, plus a $200 million strategic investment from Citadel Securities.

• Kraken’s expansion plan includes building more services for trading, derivatives, and what’s called “on-chain” financial products, essentially blending traditional finance with crypto. 

• In 2024, Kraken made $1.5 billion in revenue, and by some reports, it has already exceeded that number in 2025. 

This isn’t just a crypto company raising money; it’s a sign that large, regulated digital finance firms are gaining serious traction. Institutional investors are backing Kraken not just for trading but for building the future of finance.

What These Moves Mean for Business

• Consolidation in Professional Services
  The law firm merger shows that even legal services are scaling up globally. Clients from multiple markets, whether in tech, infrastructure, or finance, will now have more unified access to legal counsel.

• Strategic Realignment in Supply Chains
  With China increasing rare-earth exports, high-tech industries may breathe a temporary sigh of relief. But nations and companies watching this know: the long-term supply risk hasn’t disappeared.

• Crypto Goes Institutional
  Kraken’s fresh capital demonstrates how digital finance is not just surviving; it’s maturing. As funding pours in and product lines expand, crypto companies are positioning themselves to serve not just retail users but entire financial institutions.