Snap shareholders have felt the pain of its March IPO, as shares have tumbled more than 27 percent over the past 6 months, dipping below the public offering price. That could have been avoided if the IPO wasn’t mispriced, Chamath Palihapitiya told CNBC’s “Fast Money: Halftime Report” on Thursday. “You have a bank, in that […]
Read moreConsumers finding that their personal data may have been exposed in the massive Equifax cyberattack might be surprised to learn how many companies have access to different bits of their personal information. The credit-reporting company announced last week that the personal information of over 140 million Americans could have been accessed by hackers between May […]
Read moreContinental Resources CEO and Chairman Harold Hamm on Thursday fired back at renowned short-seller Jim Chanos after he revealed he is betting that shares of Hamm’s Oklahoma-based drilling company will fall. “Well, first of all, I can say almost, who is this guy?” Hamm told CNBC’s “Squawk on the Street.” Hamm speculated that Chanos — […]
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WHEN it comes to liquefied natural gas (LNG), the supermajors have supersized appetites. The likes of Royal Dutch Shell, ExxonMobil and BP make discoveries described as “elephants”; their cost overruns alone can run into the tens of billions of dollars; and projects take the best part of a decade to complete. For years, the industry […]
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ASTANA in Kazakhstan is one of the world’s most remote capitals, surrounded by thousands of kilometres of empty steppe. This summer Astana attempted to launch itself onto the global stage by hosting the World Expo, which closed on September 10th and underwhelmed many attendees. But there are other ways to have an impact. On the city’s […]
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COMPANIES’ legal structures are usually mind-numbing fare. But occasionally it is worth pinching yourself and paying attention. Take “variable interest entities” (VIEs), a kind of corporate architecture used mainly by China’s tech firms, including two superstars, Alibaba and Tencent. They go largely unremarked, but VIEs have become incredibly important. Investors outside China have about $1trn […]
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BROWSING websites that list sperm donors is weirdly similar to online dating. “Sanford is the total package,” begins one online ad, describing his strong jawline and piercing blue eyes. With a degree in finance and a “charming demeanour”, he is more than a pretty face. You can listen to a voice recording from Sanford himself. […]
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“A DEFINING moment for the auto industry.” That is how usually restrained analysts at Sanford C. Bernstein, a research firm, described the news that China’s government wants to move towards a ban on gas guzzlers. On September 9th, Xin Guobin, vice minister of industry and information technology, told an automotive conference in Tianjin, a grimy […]
Read moreThe next-generation 5G network will “usher in what I think is the fourth industrial revolution in this country,” Verizon CEO and chairman Lowell McAdam said on CNBC’s “Squawk on the Street” on Thursday. McAdam was a speaker at the Goldman Sachs 26th Annual Communacopia Conference in New York on Thursday. He said the company the […]
Read moreThe Federal Trade Commission said Thursday it is investigating the data breach at Equifax that exposed the personal information of 143 million people. News of the investigation sent Equifax’s stock sinking. “The FTC typically does not comment on open investigations,” agency spokesman Peter Kaplan said. “However in light of the intense public interest and the […]
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