Richard Beales joined Breakingviews in 2007 from the Financial Times, where he was U.S. markets editor and a Lex columnist. Prior to the FT, he spent more than 10 years as an investment banker at Schroders and Citigroup, based largely in Hong Kong and working on project finance, mergers and acquisitions. He has also lived in Sydney, Australia, and began his working life in London at Mars & Co, a management consultancy. Richard holds a masters in business journalism from New York University and a degree in biochemistry from St John’s College, Cambridge. Follow Richard on Twitter @richardbeales1
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The micro-blogging service lost $521 mln in 2015 yet “earned” a profit of $277 mln after various adjustments. Regulators occasionally squawk about unofficial metrics, but departures from accounting convention that lead to more flattering figures are worth watching like a hawk.
Founder Ray Dalio and a top lieutenant at the $154 bln hedge fund firm have been at odds. The “radical transparency” behind 25 years of 13 pct returns usually doesn’t include internal clashes spilling into the open. It may heighten “key man” worries at such an idiosyncratic shop.
The toll the virus may take on unborn babies is tragic, but it isn’t as infectious as Ebola or SARS. A bigger worry for tourists and Olympic athletes is dengue fever. Direct Zika costs also should be negligible. The danger is that headlines fracture already fragile confidence.
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