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...Powell said investors worried that Pfizer had paid a lot for what it had bought....
...That might reflect their lack of expertise but I suspect the real problem is cultural....
...We did get calls from folks saying, why don’t you own more triple-C’s? And then there would be periods of time where volatility would spike and these triple-C-only managers would blow up....
...That’s what we missed: how the policy response to the regional banking crisis stabilised the banking system, which allowed a pretty sharp V-shaped recovery....
...But then you notice the discreet pedestals at each end of the installation, created by Los Angeles based PlayLab, Inc. Each showcases four “historiated sculptures” encased in glass....
...Rieder: I’d say it’s a B-. But it’s not a C. Why are you getting these sorts of yields in credit today? You’re getting them because the risk-free rate is so darn [high]....
...The Soviet cosmonauts initially used pencils — before purchasing Paul C Fisher’s pens themselves in 1969....
...“They’re clinging to that idea, even if [Chair Jay Powell] didn’t give a clear message that they’re done”....
...My first thought as I picked up the iPhone 15 Pro Max was that it felt light, certainly lighter than its predecessor. As it turns out, I was right: 19g lighter than the 14 Pro Max....
...Jean-Noël Barrot, French junior minister for digital affairs, gave Apple a deadline of 15 days to update the phone’s software system to conform with the rules....
...We have clearly had stresses in the banking system....
...William Powell Frith’s 1862 panorama “The Railway Station” depicted a nation going somewhere....
...And now, we’re hitting the point where we’ve been able to train women to work through the system better. But now we actually have to change the system if we want to get the rest of the way....
...I think a lot of people were anticipating a V-shaped recovery . . . People are now waking up the realisation that volatility is going to be normal going forward.”...
...Its system comprises 70 stations and 43.6 miles of routes, considerably smaller than London’s. The TTC estimates it can complete its upgrade programme for less than C$8mn (£5mn)....
...“Everyone is wondering, ‘What if I have assets at Bank A or B or C?’”...
...In another interview, he added: “We have to invest in today’s energy system, and the reality is that today’s energy system is predominantly an oil and gas system. And that needs investment.”...
...I’d be interested to hear readers’ shopping experiences: what’s your main way of stocking up on gifts ahead of the festive season? Email me your thoughts at sid.v@ft.com....
...We should also consider how cell phones are changing C-suite behaviour by creating once-unimaginable levels of transparency, as with the #metoo scandals....
...Personally, I think this theme could be made even more engaging if Powell donned a uniform and aviator sunglasses for his press conferences — but so far, no joy....
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...Weekly highlights If you read last week’s newsletter, you’ll know I asked whether the streak of C-suite crypto resignations would continue after Jesse Powell stepped down as Kraken’s chief executive....
...“I’m very concerned about the exodus of companies,” said one longtime Chicago business and civic leader....
...In 2006, the maison bought Villa Empain in Brussels, restoring the house and turning it into a Centre of Art and Dialogue between eastern and western cultures. boghossianjewels.com C is for Brunello CucinelliThe...
...Lake Nona Fund / LN Sports & Health Tech Fund I, LP . . . Exponent Founders Capital I, LP . . . SH Fund, LP . . . Curated [chef recommends] . . . Race Capital II, LP . . ....
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