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...Englander has built Millennium into a hedge fund that increasingly resembles the markets division of a global bank....
...“More broadly, there is an unpersuasive talking point that fewer competitors is better for competition and I think we always need to assess that claim very sceptically,” said Chopra....
...UK house prices unexpectedly fell in March, according to fresh data that suggests a pause in the housing market recovery as mortgage rates fluctuated in early 2024....
...It “provides a significantly better data point around management’s commitment to deliver cost savings over the next few years”, Erickson added....
...Power Points Tianqi Lithium’s $4bn bet on Chile is at risk of backfiring as the government works to take back control of the South American country’s vast salt flats....
...The policy-sensitive two-year Treasury yield was up 0.06 percentage points to just under 5 per cent by the mid-afternoon in New York, while the 10-year yield was up 0.05 percentage points to 4.71 per cent...
...In commodity markets, gold hit a fresh record high on the first day of the second quarter, extending a multi-month rally....
...If the Mag 7 are expensive, the market is expensive....
...The yield on rate-sensitive two-year Treasuries fell 0.14 percentage points to 4.33 per cent while two-year German Bund yields, a benchmark for the eurozone, fell 0.18 percentage points to 2.49 per cent....
...But I hear the point that if you look at the whole market, losses create a reasonable amount of value leakage from the advertised yields....
...However, according to Bain’s Tsang, the scale of the commercial trials means China is tracking towards a “tipping point” of around 2027 for the key technologies to be commercially viable at a large scale...
...three-quarters of a percentage point this year....
...With debt expensive and public market valuations high, some private equity players say acquisitions of partnerships could have more upside than other deals, and they point to lucrative exits on older buyouts...
...Neumann oversaw WeWork as its valuation peaked at $47bn in private markets but subsequently crashed after scrapping an initial public offering....
...Pichai, meanwhile, holds that people who worry about disruption from AI are falling for “one of the common myths” about Google and missing an important point about its history....
...In equity markets, France’s Cac 40 and Germany’s Dax were both 0.4 per cent higher. The region-wide Stoxx Europe 600 was close to flat....
...Wall Street stocks rose to fresh record highs in early trading on Thursday amid a global equity rally powered by rising hopes that major central banks will deliver multiple interest rate cuts in 2024....
...By her calculations, direct lenders were charging roughly 2.5 percentage points more than banks. A year ago, that figure was a full percentage point lower....
...I’m not sure of the market relevance of either point, but there you go. Email us: robert.armstrong@ft.com and ethan.wu@ft.com....
...The question is whether it levels off at a certain point. A natural monopoly would be one where bigger is continuously better all the way up to the point that the entire market is saturated....
...At various points over the past 20 years, certain industry groups or companies, whether it be energy or health insurers or something else, have been universally hated and really cheap....
...The proposed pay changes “excessively” diluted shareholders and contained an “evergreen” provision that automatically issued more shares without fresh investor approval, according to Institutional Shareholder...
...Andrew Brenner, head of international fixed income at NatAlliance Securities, said “there is no relative pressure on rates” in the absence of fresh announcements from the Fed....
...US stocks notched a weekly loss as fresh economic data indicated that a robust US labour market and persistent inflation would lower the need for interest rate cuts....
...EV rival Xpeng has announced plans to launch a cheaper brand, with its models set to be priced at a starting point of $13,890....
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