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KKR Agrees to Cash Buyout of ContourGlobal
Private equity firm KKR has agreed to purchase power generation company ContourGlobal in a $2.16 billion deal aimed at enhancing its presence in renewable energy. The deal is likely to be completed, given the backing of ContourGlobal’s largest shareholder, Reservoir Capital, which holds just over 70% of the company...
How Government Policies Have Contributed to the Baby Formula Shortage
Blame for this year’s baby formula shortage has been flying in all directions. The first culprit many point to is the supply chain, which has been under enormous strain due to the COVID-19 pandemic that shut down ports and disrupted the transportation of goods around the world...
IMF Warns of Global Economic Risk
A series of crises has put the global economy in danger. It faces “perhaps its biggest test since the Second World War,” International Monetary Fund Managing Director Kristalina Georgieva said in a statement at the World Economic Forum in Davos, Switzerland...
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Geopolitical Events Could Hamper Economic Rebound, Powell Says
The ability of the U.S. Federal Reserve to manage inflation and grow the economy depends on global conditions, Chairman Jerome Powell told Marketplace. “Geopolitical events going on around the world . . . are going to play a very important role in the economy in the next year or so. So the question whether we can execute a soft landing or not, it may actually depend on factors that we don’t control,” Powell said...
Are NFTs Just Digital Trading Cards?
On February 22, 2021, an NFT (non-fungible token) sold for $6.6 million. The NFT in question? A looped piece of digital artwork featuring a larger-than-life, despondent, nude President Trump lying face down in some park grass, face hidden, surrounded by garbage like an empty pizza box and a bottle of bleach...
A Wells Fargo Whistleblower Divulges Fake Interviews With Minorities
A former Wells Fargo wealth management executive has accused the bank of holding fake interviews with black and female candidates, having already filled the positions with other applicants, The New York Times reported earlier this month. Joe Bruno, 58, says that he was instructed to interview minority candidates for lower-paying (under $100,000 per year)...
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Gay Dating App Grindr Going Public
Hugely popular gay dating app Grindr announced in early May that it will soon be going public. Tiga Acquisition Corp. will acquire the 13-year-old company, which will be called Grindr Inc. and is valued at about $2.1 billion...
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Carlyle Group to Acquire NSM Insurance
The private equity firm Carlyle Group will acquire NSM Insurance Group from White Mountains Insurance Group. NSM, a specialty insurance programs administrator, is valued at about $1.78 billion...
Why Are Men Disappearing From Colleges?
Around the turn of the century (1900, that is, not 2000), the percentages of men and women attending college was roughly equal. Granted, the educations they received were anything but equal: most of the men were getting bachelor’s degrees at four year colleges, many of which were all male...
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White House Considering Adjustments to Chinese Tariffs
The U.S. may drop some of the tariffs imposed against Chinese imports to help control rising consumer prices, President Joe Biden said earlier in May. The administration has been reluctant to lift tariffs and jeopardize political goals, while weighing the impact of increasing costs on Americans...
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Hertz Appoints Scott M. Haralson as Chief Financial Officer
Hertz Global Holdings, a prominent global rental car company, has announced the appointment of Scott M. Haralson as Chief Financial Officer. "His deep expertise in financial management and leveraging the capital markets to drive business transformation will be invaluable to Hertz as we rotate our fleet, deliver operational excellence, build greater cost discipline and undertake other key initiatives to improve our financial performance", stated Hertz CEO Gil West...
Navan Appoints Amy Butte as Chief Financial Officer
Navan, the comprehensive super app simplifying travel and expense management, announced the appointment of Amy Butte as Chief Financial Officer effective June, 2024. Butte, who joined Navan's Board of Directors in April 2024, has resigned from her role as Audit Committee Chair to assume this executive position...