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...With just 1.2bn people having an income above $12K a year, Apple is valued on an EV per pop of c$2,300, which requires c$800pp of annual spend, on the global equity strategy team’s calculations. 4....
...Nunes, a former Republican congressman, named four equities market makers in his letter: Citadel Securities, Virtu, Jane Street and G1 Execution Services....
...(c) 1 LOB (“Services”) = almost all of Citi’s market cap....
Best-performing managers’ punchy bets on stock markets paid off in 2023
...But a statement amounting to “we will work harder on quality now” is not reassuring, though I am sure Boeing will work harder at it; everyone in the C-suite must now know they are one incident away from...
...Google has agreed to pay C$100mn a year into a fund to support news organisations in Canada as part of a deal with the government, ending a dispute that led it to threaten to cut links to news from its services...
...Hedge funds and asset managers can buy those instruments, and trade them in Macau — a place better known for casinos than financial services....
...They send it to us because we provide a service, we provide better prices, right? The marketplace has created this unbelievable ecosystem, and it will continue to do it in asset classes around....
...However, it would be preferable for policymakers to find practical ways to support better price transparency, rather than terrorising the C-suite....
...For a while, many pundits — including Unhedged — talked about Apple as a “defensive growth” stock, with high barriers to entry and a big services business to carry it through the economic cycle....
...To put this in pounds and pence, such a move could maybe take employer contributions from c.£7bn to c.£10bn next fiscal year. Where do all these contributions go?...
...The regulator says the e-commerce giant has become such a big monopoly that its practices are hurting consumers and the third-party sellers that rely on its services....
...In its early days Citigroup styled itself as a “financial supermarket”, a one-stop shop for all kinds of banking services around the world. But that plan has backfired in recent years....
...The state-run National Pension Service, which held an 11 per cent stake in Samsung C&T, voted in favour of the merger despite strong opposition from US activist hedge fund Elliott Management, which was a...
...Together, the platforms provide the country’s largest online shopping services, but they have been steadily losing market share to Temu and Pinduoduo owner PDD Holdings, and ByteDance’s Douyin, the Chinese...
...And so it came to pass for me when Apple announced at its product launch that the new iPhone 15 would use a USB-C charger instead of its proprietary lightning cable....
...Earlier this year, residents in Paris voted to ban rental e-scooters, shutting down what had once been the industry’s largest market....
...In A&E, they rushed me to an endoscopy, where a bolt of glorious general anaesthetic shut everything down: the flock of beautiful blue birds I’d been hallucinating during delirium tremens, the bleeding stomach...
...Its forward P/E is just 15. We’re still searching for good stock picks. If you’ve got a candidate, email us: robert.armstrong@ft.com and ethan.wu@ft.com....
.../ From E R Yescombe, YCL Consulting, London N10, UK...
...Buffett highlighted as examples of wildfire liabilities both PG&E and Hawaiian Electric, which has been sued in connection with last year’s devastating Maui inferno....
...We have a 70 per cent service-sector economy. Historically, there’s only been 13 quarters of negative growth in 100 years of the service sector....
...This matter was reviewed by executive management and in discussion with the Board it was decided to appoint an external professional services firm (Big Four Accounting Firm) to assist in performing a number...
...In the fourth quarter of 2023, Google Services made $76.3bn, with revenues primarily driven by advertising....
...A version of this article was first published by Nikkei Asia on December 18. ©2023 Nikkei Inc. All rights reserved....
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