Anna is a New York-based columnist covering fixed income and emerging markets. She was previously a research consultant with Fintech Advisory, a family office specializing in special and distressed opportunities in emerging markets. From 2014 to 2017, she worked on the Emerging Markets Opportunities Fund and Emerging Markets Debt Total Return Fund at Oaktree Capital Management. She began her career in finance at Fintech Advisory in 2008. Anna has also been the co-host of the Slate Money podcast since 2017. She holds a master’s and a bachelor’s in English from New York University, and she is a CFA charterholder.
That’s how much the casino company’s market value jumped after it said it was buying a $163 mln stake in online sports and media firm Barstool Sports. Young gamblers are a hot commodity, but they are difficult for traditional casino operators to reach. Fliers are worth a try.
Franklin Templeton is acquiring Legg Mason for $4.5 bln. The deal beats the status quo with heavy pressure on industry margins, and both groups’ stocks got a boost. But it’s a defensive move that neither prioritizes aggressive cost cuts nor offers a clear path to growth.
Sales at the $34 bln food and drinks peddler continue to decline as its $29 bln debt load looms. The company needs more cash, but with asset values declining, divesting businesses like peers will be tough. It keeps on shelling out its coveted dividend. That may be next to go.