Premium
Economic Alliances Are Better Than Defense Alliances, Analyst Says
Instead of forging security and defense alliances, nations should develop economic ones, the President of the Center for China and Globalization said at the SALT iConnections conference in Singapore in mid-November. Relationships based on defense would make the world “more dangerous,” said Henry Wang, and also increase the chance for a slide toward deglobalization, which would restrict global economic development...
Berkshire Hathaway Reveals $4.1B Stake in Chipmaker TSMC
In an unusual move into the technology sector, Warren Buffett’s Berkshire Hathaway Inc. purchased more than $4.1 billion of stock in Taiwan Semiconductor Manufacturing Company Limited (TSMC), the conglomerate said. TSMC is the world’s largest contract chipmaker. Its stock fell to a two-year low in October as global demand for chips slowed, but with the announcement in mid-November, shares jumped 7.9%...
Premium
Partners Group to Acquire Data Center Leader EdgeCore
Riding the wave of M&A activity in the data center industry, Switzerland-based Partners Group will acquire EdgeCore Digital Infrastructure in a $1.2 billion deal to invest in and expand the company, EdgeCore announced. Four-year-old EdgeCore was one of the first platforms in the data center building boom...
Premium
Avoid Cryptocurrencies, Treasury Secretary Yellen Warns
After one of the world’s largest cryptocurrency exchanges recently collapsed and filed for bankruptcy, Treasury Secretary Janet Yellen warned Americans to avoid investing in “extremely risky” financial products that are traded without proper supervision. FTX fell apart within just one week in November and is now under investigation for securities fraud, along with its former Chief Executive Officer Sam Bankman-Fried...
Premium
Goldman Promotes Record Number to Partner
Goldman Sachs Group Inc. promoted 80 bankers to partner roles in November, the largest (and most diverse) new class in four years. Goldman promoted 60 new partners in 2020 and 69 in 2018, when Chief Executive David Solomon took over. In 2022’s group, 29% are women, 24% are Asian, and 9% are African American, all showing increases since 2020...
Marathon Oil Buys Ensign Assets for $3B, Growing South Texas Position
Exploration and production company Marathon Oil has announced it will buy natural gas-focused assets from Ensign Natural Resources in a $3 billion cash deal. The transaction will double Marathon’s position in the Eagle Ford shale basin of South Texas...
Premium
Walgreens’ VillageMD to Acquire Summit Health for $8.9B
VillageMD, a value-based primary care company owned by Walgreens Boots Alliance, has announced it will buy Summit Health, the parent company of urgent care chain CityMD, according to Fierce Healthcare. The deal is valued at $8.9 billion and will expand Walgreens’ footprint into primary, specialty, and urgent care...
Global Inflation Shows Signs of Peaking, IMF Director Says
Global inflation may be approaching its peak, though supply chain disruption may continue to affect living costs, International Monetary Fund Managing Director Kristalina Georgieva said at the Cop27 summit in Egypt. “We now see central banks very united on fighting inflation as a top priority, and rightly so. If we don’t succeed, it would de-anchor and then the foundation for growth which is price stability is dented,” Georgieva said in an interview with Bloomberg TV...
HSBC: Chinese Economic Prosperity Appears Strong
Chinese wealth will continue to grow, spurred by the strong presence of high-net-worth individuals (HNWI) and the country’s mass affluent, according to Trista Sun, HSBC’s Head of Wealth and Personal Banking for China. Household wealth has driven the nation’s economy in recent years, inspiring strong consumer spending, business confidence, and capital investment, Sun writes in Nikkei Asia...
Premium
Morgan Stanley: India to Experience Economic Boom
Driven by key investments and global trends, India is set to become the world’s third-largest economy by 2027, a Morgan Stanley Research Bluepaper predicts. Already the fastest-growing world economy, with 5.5% average gross domestic product growth over the past ten years, the country is on track to pass Japan and Germany...
Popular Articles
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...