[unable to retrieve full-text content] National pride and joy THE headlong plunge of shares in Teva, a pharmaceutical giant—down by over 40% since August 2nd—is causing consternation beyond the firm’s shareholders and employees. The company was founded in Jerusalem in 1901, is the largest in Israel and is the country’s only multinational with its headquarters […]
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WHEN the Commonwealth Bank of Australia on August 9th reported its profit for the year to June—above forecasts and just shy of A$10bn ($7.9bn)—it faced questions about cashflows of another sort. Six days earlier the Australian Transaction Reports and Analysis Centre (AUSTRAC), a regulator charged with gathering financial intelligence to combat money-laundering and terrorism, had […]
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WHEN Heathrow airport opened, in 1946, the only retail facilities were a bar with chintz armchairs and a small newsagent’s. The first terminal was a tent, a far cry from the four halls, resembling vast shopping malls, at the London airport today. Retail spending per passenger is the highest of any airport. This summer’s consumer […]
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WHERE can you find a 7% interest rate on a sovereign dollar-bond? You would have to take a time-machine to the mid-1990s to find such a yield on a ten-year American Treasury. Alternatively, you could slip back a few days to August 2nd and bid for the $1bn of five-year bonds sold by the government […]
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IT IS not a number to tweet about. President Donald Trump plans to plough $1trn of spending into America’s crumbling infrastructure. And a dearth of capital is not a problem: investors are keen on such assets. But investment seems to be falling. Government infrastructure spending in the second quarter fell to 1.4% of GDP, the […]
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FOR football clubs, August is often the costliest month, when they make vast bids for each other’s players. This year has been particularly lavish. On August 3rd Paris Saint-Germain (PSG), a French team, signed Neymar da Silva Santos Júnior, a Brazilian forward, from Barcelona for €222m ($264m), more than double the previous record price for […]
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FINANCIAL markets are supposed to be the font of all wisdom, weighing up the information available and condensing it into a set of prices. Investors are presumed to have an insight into the future—falling bond yields are seen as a sign that the economy is slowing, for example. But are investors that clever when it […]
Read moreBarclays on Thursday initiated coverage of Delta Air Lines at overweight, calling it a leader in the sector and highlighting its strong relationships with staff and customers. “A culture driven for respect for customers and employees blended with shrewd capital management has transformed Delta into one of the largest, safest and most profitable airlines in […]
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Stocks are often shocked into a quick decline when a major geopolitical event occurs, but the ability to recover has been very different. With the backdrop of rising tensions between North Korea and the U.S., Strategas Research studied the immediate and longer-term impact on the S&P 500 from a series of key events going back […]
Read moreThe Google employee who was fired by the tech giant earlier this week over a viral memo has said that the company’s products have been hurt by a “lack of ideological diversity”. James Damore, the 28-year-old former Google engineer who claimed to have been fired by the corporation for “perpetuating gender stereotypes” made the claim […]
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