IN MOST four-decade-old firms run by greying co-founders, investors would have long since demanded clarity on succession. But private equity works differently: the industry has been dominated by its pioneers ever since its origins in the 1970s. So an announcement on July 17th about its future leadership by KKR, one of the world’s largest private-equity […]
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GOOD generals know that the next war will be fought with different weapons and tactics from the last. Similarly, financial regulators are right to worry that the next crisis may not resemble the credit crunch of 2007-08. The last crisis arose from the interaction between the market for mortgage-backed securities and the banking system. As […]
Read moreOne terrible day in November 2000, Julie Wainwright’s husband asked her for a divorce. That same day, Wainwright, then the CEO of Pets.com, determined she would have to shut down the company. She had led the e-commerce business through its meteoric rise and IPO, and now it was crashing. “It failed and I became sort […]
Read moreThe United States has ended a four month ban on passengers carrying laptops onboard U.S. bound flights from certain airports in the Middle East and North Africa, bringing to an end one of the controversial travel restrictions imposed by President Donald Trump’s administration. Riyadh’s King Khalid International Airport was the last of 10 airports to […]
Read moreCurrency, United States Finance
The European Union and the U.K. are far from reaching an agreement on key issues in Brexit talks, as the second round of negotiations comes to an end. Both negotiating teams have recognized some progress has been made but there are still “fundamental” differences, including issues on citizens’ rights and the Irish border. The EU […]
Read moreSomewhere along the way, someone told you to force quit apps on your iPhone and iPad to improve performance and save battery life. Stop doing that. We’ve all done this at one point or another because we learned it’s a good idea to close applications that are hogging system resources on slow-running computers. When too […]
Read moreCNBC’s Jim Cramer wasn’t too infatuated with the idea that Sears would sell smart appliances synced with Amazon‘s voice assistant, Alexa. Shares of Sears soared Thursday after the department store chain announced plans to sell Kenmore-branded appliances on Amazon.com. The products will also be compatible with Amazon’s Alexa platform. The Alexa-enabled appliances will allow customers […]
Read moreWhile some investors may be optimistic on Tesla’s Model 3 car release, a Citi Research analyst says the electric car maker still needs to address one major thing before he can get bullish: the balance sheet. Tesla needs to raise billions of new capital by next year to overcome its losses, the bank’s analyst Itay […]
Read moreAdd Sears to the growing list of retailers signing deals with Amazon. The department store chain announced plans on Thursday to sell Kenmore-branded appliances on Amazon.com. The products will also be compatible with Amazon’s Alexa platform, Sears said. Shares of Sears’ stock were climbing more than 25 percent at one point in trading before the […]
Read moreSarepta Therapeutics stock surged by 20 percent after the company brought in much higher-than-expected revenues in its second-quarter earnings report Wednesday. Wall Street believes the biopharmaceutical company’s focus on developing treatments for rare neuro-muscular diseases is paying off, putting Sarepta in position to dominate its sector of the commercial drug market. “We believe Sarepta is […]
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