Activist hedge fund manager Dan Loeb, who’s more than doubled the S&P 500’s return over the last two decades, is beating the market again this year while most of his big-name peers are struggling. But the Wall Street titan admitted Thursday his strong performance was partly due to good fortune. Earlier this year the manager […]
Read morePresident Donald Trump has backed a new immigration proposal to make immigration more “merit-based,” but one technology executive said the policy could actually make it harder for American companies to compete for talent. “We go through ridiculous interview processes to try to find precisely the right people,” former Twitter CEO Dick Costolo told CNBC’s “Squawk […]
Read moreWhile some people love to chatter about a looming “retail apocalypse,” Goldman Sachs says not so fast. On Thursday, the firm offered up a number of reasons why physical retail can and will live on. Store-based retailers must approach the current situation — a rapidly evolving environment — with a fresher approach and a strategy […]
Read moreThe Tesla Model 3 means many things to many people: an affordable electric car; an overpriced and overhyped tech product; a somewhat ergonomically awkward people mover; the beginning of the self-driving future; a key link in a sustainable-energy model that extends far beyond cars. There’s another thing that Elon Musk’s electric-car company represents to experts […]
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Thanks to a recent decline in companies’ capital investments, the record high stock market may still be one to buy, Goldman Sachs said. The “S&P 500 is expensive according to most valuation metrics, but appears attractively valued on free cash flow yield due to reduced capex investment,” David Kostin, chief U.S. equity strategist at Goldman […]
Read moreElectronic Arts announced on Thursday that “NBA LIVE 18,” the latest from EA Sports’ long-running basketball video game series, will include teams and players from the Women’s National Basketball Association (WNBA) when it debuts this fall. The release from EA Sports’ Orlando, Florida-area studio, EA Tiburon, will be the first video game to feature the […]
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THE private-equity business presents a paradox. Its barons like to boast of revamping the companies they buy. But they themselves have been steadfast to their own business model, centred on funds with a ten-year life. Within this time span, fund managers, known as “general partners” (GPs), commit to buy, manage and sell a clutch of […]
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THE modern pharmaceutical firm lives or dies on the strength of its drug portfolio. As patents expire on lucrative medicines, they must replace the income that has been lost by inventing new drugs, or buying them in from outside. Both paths are expensive. But the costs of failure are greater, and this is how it […]
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EVERY working day, shortly before noon, British time, the London Interbank Offered Rate, or LIBOR, is published. For five currencies and seven maturities, from overnight to 12 months, it is the average, trimmed of outliers, of up to 20 banks’ estimates of the interest rate at which they can borrow from other banks. It is […]
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“DON’T you know about our summer?” asks a spokesperson of a Swedish multinational, himself presumably on holiday as kids chirp in the background. Almost everyone is gone until September, he says. At a German multinational, “the whole board is away for August,” admits a spokesperson. Faced with a slew of out-of-office messages across corporate Europe, […]
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