With his energy-focused startup, ex-Barclays bigwig Skip McGee can exploit a trend of smaller advisers winning business from banking supermarkets. There’s new competition by size in the indie world, too, though. Bigger players like Lazard and Rothschild are reclaiming dominance.
Rate-setters around the world are in a bind. The zeitgeist demands they share every twist and turn of their deliberations. But too bright a light can be blinding. Hard talk is often best done in private. While some transparency is good, more is not always better.
France objects to Britain adopting its own extra-tough bank structural reform, reports say. But there’s little to gain from ring-fencing retail lenders, and a flexible UK can negotiate a better deal with Brussels. A British retreat could kill two birds with one stone.
Selling 51 pct of its Chinese networking unit for $2.3 bln to a state-owned company looks like a partial retreat from an unfriendly market. But the U.S. tech giant now has a powerful ally with deep ties to Beijing. Rivals from Cisco to Microsoft should consider similar matches.
Najib Razak has vowed to make the country rich by 2020. Investors are wary. The opposition chief is in jail, race relations are tense, and a scandal-plagued state investment fund has hurt the prime minister’s authority. A slumping ringgit shows there could be trouble ahead.
The value of Danny Meyer’s upscale burger chain shot up 8.5 pct, seemingly on news that it may start outlets serving up chicken-based fare. Investors seeking signs of exuberance in wearables might do better looking at edibles. Shake Shack is now worth 550 times earnings.
The genealogy website went public in 2009, only to sell itself to a Permira-led private equity consortium three years later. Now it’s on the block again, according to Reuters. The company has been struggling to turn nostalgia into profit. A new owner may not fare any better.
Europe could split off payments owed to Greece from its second bailout, according to reports. The move could break an impasse over reform talks and avoid a messy default. Yet Europe would have less leverage over the Syriza-led government and the Greek economy would suffer.
Financiers unhappy with tougher regulation can cite new analysis from the BIS. The central banks’ own central bank says new standards will probably change how economies and markets work. But the BIS is firmly focussed on coping with the new paradigm, not returning to the old one.
The mystery collapse of Hanergy, Goldin Financial and Goldin Properties wiped $44 bln off their market values in two days. But actual losses for those who bought during the rally in recent months are far smaller. Big numbers aren’t always what they seem – especially in China.
CEO Meg Whitman originally thought separating the company’s PC arm would incur $1 bln a year in extra costs. The figure is now down to about $425 mln. That should help the split narrow the $61 bln HP’s stubborn conglomerate discount, even if it won’t create a glowing new future.
Dour days lie ahead for Americans, thanks in large part to Baby Boomers. The biggest generation, just beginning to leave the workforce, has saved even less than past groups and isn’t likely to reap more government benefits. Their relative penury will slow down GDP growth.
The original cable cowboy’s home turf has been invaded by Patrick Drahi, a protégé who rode in guns blazing to buy Suddenlink. Malone typically leads the industry herd, but might be challenged anew for Time Warner Cable. Then again, maybe the deal is big enough for both of them.