Tesla exacerbates valuation range anxiety 2 Apr 2024 The Model 3 maker overtook China’s BYD again, but deliveries tumbled for the first time since 2020 despite being flattered by a temporary lack of cheaper options and US rivals selling dead tech. A sluggish EV market and boss Elon Musk’s bombast justify an even bigger discount.
Soho House’s private party may prove disappointing 2 Apr 2024 Executive Chair Ron Burkle could bless a de-listing of the loss-making $1.1 bln chain of members’ clubs, which he reckons will one day generate handsome earnings. He’s only right if the new sites, like São Paulo and Bangkok, prove as popular as the older ones. It’s a gamble.
Profitability is next sacrifice at inflation altar 2 Apr 2024 Central bankers want LVMH, Pepsi and others to pay higher wages without raising prices. Bottom lines in the euro zone already have dipped to 40% of output, the lowest rate since 2020, and Big Tech accounts for most US margin growth. CEOs and investors can expect leaner times.
Wanda’s mall deal bags petrodollar safety net 2 Apr 2024 Wang Jianlin has found the hottest new shoppers in town. ADIA and Mubadala are taking control of his mall unit for $8.3 bln, alongside existing owners led by buyout firm PAG. Gulf money is emerging as an important lifeline for buyers and sellers in China.
Xiaomi enters China’s EV race in fine form 2 Apr 2024 The smartphone maker run by Lei Jun logged 90,000 orders in 24 hours for its debut vehicle and buyers face a seven-month wait. Investors cheered, adding 16% to the group's $48 bln market value. Competition is cutthroat but there's always room for strong upstarts.
AI’s power surge short-circuits longer-term plans 1 Apr 2024 Data centers account for 2.5% of the US grid, and machine learning is supercharging growth. Where and how to build megaplexes consuming as much electricity as a small nuclear plant are the immediate problems, but they’re solvable. Calculating future demand is the real conundrum.
Capital Calls: Motorcycle M&A 1 Apr 2024 Concise views on global finance: John Malone’s Liberty Media is buying Dorna, the parent of motorcycling racing championship MotoGP, for 4.3 billion euros. It’s hard to see how the media mogul can make the deal work.
Remington deal fight is all about guns’ taboo 1 Apr 2024 Political backlash made gunmakers the orphans of capital markets, leaving the 208-year-old ammo brand to be fought over by unusual suspects: a Czech firm drawing national security scrutiny and a former insider. Investors’ retreat ensured a scrappy end for the military supplier.