Education

Beijing finally gives China shorts a helping hand

15 June 2021

Central government crackdowns and the collapse of U.S.-based fund Archegos have delivered selective relief to investors betting against Chinese companies listed in New York. Caution is warranted as outbound investment quotas ease. Patriotic reinforcements are on the way.

Review: Meritocracy is a myth

4 June 2021

The business leaders who flock to the World Economic Forum use wealth and power to get their offspring into the best schools. This approach increasingly undercuts a society based on merit. Today’s capitalist elite, argues Adrian Wooldridge, is a new aristocracy in disguise.

Capital Calls: AT&T’s bankers, Blackstone in Italy

17 May 2021

Concise views on global finance: The U.S. telecom giant’s unwinding of its purchase of Time Warner is a gift for advisers on Wall Street; a court rules that the U.S. private equity firm’s 2013 purchase of Corriere della Sera’s HQ was valid.

Capital Calls: Disney misses the mark

13 May 2021

Concise views on global finance: Walt Disney reported nearly 104 million subscribers for its streaming flagship service.

David Swensen’s Yale model is tough to follow

6 May 2021

The architect since 1985 of the Ivy League university’s $31 bln endowment has died. His early belief in alternative, uncorrelated assets and top-ranked returns changed the industry. Swensen’s long-term outlook and relative lack of greed make him particularly hard to replace.

EQT pays an electrifying price for U.S. bus ride

23 April 2021

The Swedish buyout group is acquiring two of travel operator FirstGroup’s North American units for $4.6 bln. It’s a punchy valuation. To earn a decent return, EQT will have to boost growth by converting the iconic yellow school bus network into a fleet of clean electric vehicles.

The Exchange: Fewer bankers, more engineers needed

20 April 2021

That’s one of Jacques Attali’s many prescriptions to enhance the economy of life. The former EBRD boss and French presidential adviser also discusses Big Tech breakups, Europe’s lagging vaccination efforts, Macron’s political prospects and his plan to close the elite ENA.

Capital Calls: Cellebrite good times

8 April 2021

Concise views on global finance in the Covid-19 era: The Israeli cracker of mobile-phone encryption is going public via a SPAC at a $2.4 billion valuation.

UK’s Pearson listens to its own online lessons

8 March 2021

The 6 bln pound firm is doubling down on a year of virtual learning by selling education directly to individuals. Winning mass-market adherents will take time and is not a given. Yet anything that reduces its reliance on declining textbook sales is a step in the right direction.

BC Partners finds awkward fix for low-tech buyouts

7 December 2020

After three failed IPOs, the private-equity firm may sell publisher Springer Nature to a new fund it controls for 6 bln euros, the FT says. It’s messy, but probably better than a botched listing. With public investors wary of sluggish assets, other deals may face a similar fate.

Corona Capital: Record Dow, Basketball, GoCompare

25 November 2020

Concise views on the pandemic’s corporate and financial fallout: Vaccine optimism shunts the blue-chip Dow Jones index through 30,000; U.S. college basketball gets back on the court; and UK publisher Future snaps up the bargain-hunting website.

Teaching apps confront elephant in the classroom

15 October 2020

SoftBank’s call to buy a 9.7% stake in Kahoot! reflects a surge in demand for educational tech. But given users of the $2.7 bln Norwegian group’s app access it using Google, the U.S. tech giant may decide to develop its own version. That could at least limit stateside growth.

Corona Capital: Bankers, Virus vices, Student digs

8 October 2020

Concise views on the pandemic’s corporate and financial fallout: Japan’s Mizuho tries to get its employees to take it easy; smokers and gamblers struggle to kick the habit during lockdown; UK landlord Unite Group finds even student property is not immune to Covid-19.

Corona Capital: Dividends, Zoom, Big-screen blues

24 August 2020

Concise views on the pandemic’s corporate and financial fallout: As company bosses try to conserve cash, investors are feeling the pinch; Zoom has a back-to-school problem; and a mediocre debut for Russell Crowe’s new road-rage movie shows Hollywood is stuck in the slow lane.

UK exam U-turn exposes algorithms’ deep flaws

19 August 2020

Popular fury forced the abandonment of hypothetical calculations of likely grades for Covid-canceled national exams. From credit scoring to criminal sentencing, even well-intentioned models of this kind make many harmful mistakes. Most victims lack the clout to force a reversal.

Corona Capital: Champagne, Canada, College chaos

18 August 2020

Concise views on the pandemic’s corporate and financial fallout: Champagne growers cut production; Canada’s finance minister quits over stimulus costs; and some American universities are collecting tuition fees before telling students that in-person classes can’t happen.

Guest view: U.S. universities need some self-study

17 August 2020

Even before the pandemic, America's higher education system was in crisis. It’s an opportunity to question orthodoxies about how it works and how it’s paid for, McKinsey’s André Dua says, and to develop new ways of equipping students with the skills for today’s economy and world.

American college football needs to play long game

10 August 2020

Collegiate athletes recently penned a letter arguing for better safety, healthcare and cash compensation. Players have increasingly been using their star power to pressure coaches and administrators. But the time for tweaks is over – a total NCAA revamp is long overdue.

Corona Capital: College mergers, UK property funds

3 August 2020

Concise views on the pandemic’s corporate and financial fallout: M&A goes to the University of Arizona; Britain’s financial watchdog considers stopping property fund withdrawals.

Corona Capital: Movies, Sports

24 July 2020

Concise views on the pandemic’s corporate and financial fallout: Walt Disney is pushing back the highly anticipated movie “Mulan,” with a domino effect for “Avatar” and “Star Wars” sequels; and sport stars are still making it rain when it comes to pay.