Antony Currie has more than a decade of experience as a financial journalist, having worked with Euromoney since 1996, most recently as a U.S. editor. He has worked on assignments in the major financial centres of Europe and the US and written stories on capital markets, global economies and the investment banking industry. He holds a bachelor's degree in German language and literature and a master's degree in politics and international relations from the University of Bristol.
The U.S. retailing giant is suing Elon Musk’s $40 bln electric-car maker for negligence after its solar panels allegedly sparked fires at stores, further denting Tesla’s quality-control image. Walmart’s move also puts Musk’s odd 2016 acquisition of SolarCity back in the spotlight.
That’s the market value lost by the top five U.S. investment banks in just three weeks, leaving only JPMorgan trading above book value. History suggests it’s an early investor bet on a downturn. But as with the yield curve, the fallout from the last crisis distorts the message.
Leslie Wexner, CEO of Victoria’s Secret owner L Brands, is in the spotlight for letting the financier charged with sex trafficking manage his money. His firm needs scrutiny, too. For investors, Wexner’s slow response to online threats and falling margins are another worry.