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...US hedge fund Elliott Management has instead been on a buying spree, betting that the market has grown too pessimistic over potential losses....
...Sotheby’s can pay its agents more, Azar said, in part because he has torn up the traditional system of neighbourhood offices, giving his agents geographic freedom and cutting layers of management....
...But a few more solid companies coming to market at reset prices may help destigmatise the long-held psychological opposition to down-round financing that has become baked into Silicon Valley’s culture....
...Peter Keith, an analyst at Piper Sandler, told me that he has confidence in the new management team, but the risk is that the timing of turnarounds is inherently uncertain....
...Sotheby’s provided the top-billing celebrity sale of the year, with its £40mn auction of 1,406 items that belonged to the late Queen frontman Freddie Mercury....
...The FTC alleges that its “pay-to-play” adverts force sellers to spend more for top billing....
...Typo watch A hawk-eyed reader caught a typo in our Friday interview with JPMorgan Asset Management’s Bob Michele....
...A version of this article was first published by Nikkei Asia on February 27. ©2024 Nikkei Inc. All rights reserved....
...But can it still be a solid investment? Financially, big tobacco has adopted a cash cow strategy....
...Companies with double B or B plus debt ratings have received solid demand, while lower-rated single B and triple C rated companies have been forced to go to private credit lenders for financing....
...Just this year, a change to medical billing laws wiped out KKR’s $3.5bn equity investment in bankrupt Envision Healthcare. Senior creditors will probably take losses....
...McKinsey told the Financial Times it had a “solid client and recruiting pipeline” in China. BCG did not respond to requests for comment....
...The gain is solid, especially after it borrowed $280mn against its shares to juice its equity returns. But investors aren’t the only ones reaping big gains....
...For example: if Generic Greek God Capital is buying Widgetmaker Inc, 70 per cent of the equity it ponies up might come from one of its LBO funds....
...On Tuesday, TCS Capital Management called for Yelp to explore a sale or combine with online services company Angi....
...I think the homebuilder stocks can generate very solid long-term returns for three reasons: The stocks remain relatively cheap, even though the companies have reduced their leverage and as such the cyclicality...
..., e-billing, and compliance....
...The solid financial performance has buoyed confidence on Wall Street at an important moment....
...At its Sam’s Club subsidiary, management said positive sales trends during the fourth quarter for discretionary items such as apparel and merchandise were still holding in place as recently as the Super...
...BlackRock supplements its money management business with a chunky technology services business centred on its Aladdin risk management platform....
...Oh, and its asset management arm controls $755bn....
...This improved company performance and lowered the likelihood of management turnover. And the reverse was also true....
...About 40 per cent of packaging in the EU is made of plastic, and all types make up about 36 per cent of municipal solid waste across the bloc, according to its own figures....
...Brightflag Most customers of Brightflag’s legal matter management and e-billing platform are first-time legal tech buyers....
...Net inflows were a solid $919mn, the second-highest on record although a fraction of 2021’s $3.2bn, while a 22.4 per cent rise in the dollar-denominated MSCI Chile index will have helped those investing...
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