The troubles surrounding Chinese insurer Anbang are part of a “house-cleaning” that was “well overdue,” an industry expert said Thursday. Last week, Anbang — best known for its 2015 purchase of New York’s landmark Waldorf Astoria hotel — said its chairman, Wu Xiaohu, was no longer able to fulfill his duties. The brief statement cited […]
Read moreGlobal markets started 2017 fearing, among others, a disruptive United States and growing political risks in Europe. But neither of those has turned out to be damaging thus far, Citi Private Bank said in its mid-year review. That said, generating double digit returns will not be “quite as easy” in the coming months compared to […]
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Commerce secretary and billionaire investor Wilbur Ross recently referred to China as “the most highly protectionist of the big countries” in an interview with the Wall Street Journal, repeating a claim he made back in January. But data seems to suggest otherwise. Average tariff rates are actually higher in Brazil and India, two of the […]
Read moreTravis Kalanick‘s final hours as Uber’s chief executive played out in a private room in a downtown Chicago hotel on Tuesday. There, Mr. Kalanick, who was on a trip to interview executive candidates for Uber, was paid a surprise visit. Two venture capitalists — Matt Cohler and Peter Fenton of the Silicon Valley firm Benchmark, […]
Read moreOmada Health, one of the most highly funded digital health companies in Silicon Valley, has laid off about 20 people in departments across the organization. Omada has developed a diabetes prevention program that is geared to roughly 1 in 3 Americans at high risk for the disease. What makes it a tech company is that […]
Read moreBill Gurley, an outspoken venture capitalist at Benchmark, is in talks to leave Uber’s board, a source told CNBC. Benchmark partner Matt Cohler will replace Gurley effective immediately, a source said. Bloomberg and The New York Times previously reported the news. Gurley was reportedly instrumental in the resignation of CEO Travis Kalanick this week, although […]
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