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...“Buy what you know” was a keystone of his investing philosophy — one that earned the Fidelity Magellan fund a benchmark-beating 29 per cent annualised return under his 13-year stewardship....
...The combined group not only controls an estimated 70 per cent of the market for ticketing and live events but it also manages artists and either owns or has exclusive contracts with major concert venues....
...A disagreement last year over intellectual property control resulted in them suing each other, Microsoft ending their partnership and the game being taken offline....
...Nobel Prize-winning economist Ronald Coase contemplated this question in his groundbreaking work....
...What they will not be given, however, is control. Unequal shareholder voting rights mean voting control will be concentrated among directors, executives and others who already hold Reddit stock....
...Now, his caustic online presence is considered a liability. But he cannot shoulder all the blame for the carmaker’s problems....
...Within days he was filmed playing Mario Kart with his mind. For now, trials are limited to patients. But Neuralink’s $5bn valuation envisions a future in which everyone can use a BCI....
...His Berkshire Hathaway B class shares, at $420, offer a relatively cheaper entry....
...The father of mortgage-backed securities, unsurprisingly, puts his faith in the power of markets. Larry Fink last week released his perennially anticipated shareholder letter....
...Apple, which says the lawsuit is wrong on facts and law, has always maintained that control is integral to quality and essential to maintaining user privacy and security....
...Eventually, that could extend to autonomous driving controls too. elaine.moore@ft.com...
...Enjoy your weekend, Elaine MooreDeputy head of Lex...
...He has previously used his private wealth to fund Telegram and wants to maintain control....
...Administrative controls aside, Lyft may still be turning a corner....
...Arkhouse Management has launched a proxy fight to take control of the board after Macy’s rejected its unsolicited $5.8bn take-private offer....
...Activist investors, who want to take the company private, have launched a proxy fight to take control of the board....
...Meanwhile, the cost to remediate consent orders imposed by regulators in 2020, requiring the bank to improve its risk management and internal controls, will keep expenses high....
...The co-founders were able to grant themselves voting control. Yet the messaging company, which has also yet to announce a full year of profit, still trades below its IPO price....
...As for JetBlue, it has been searching for a way to keep up with the big four US carriers — American, United, Delta and Southwest — who through their own dealmaking now control 80 per cent of the domestic...
...Shah criticised Novavax in his letter for only generating around $25mn in net commercial US sales from its Covid-19 jab during the winter season, despite spending $300mn on a sales and marketing push....
...Have a great weekend, Helen ThomasHead of Lex...
...Tighter export controls on advanced chips used for AI development and the equipment used to manufacture them are proving difficult to bypass....
...The Redstone investment vehicle owns 77 per cent voting control of Paramount and about a tenth of the economic interests....
Company would have been better off following Roche’s route to market for anti-obesity treatment
...His new problem is that, if his appeals fail, his $55bn share pile will return to the company....
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