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...Buffett also used his letter to memorialise Munger as the architect of the modern-day Berkshire Hathaway, describing the 99-year-old’s relationship to him as “part older brother, part loving father”....
...Management of Greenhill & Co liked to boast that its stock price hit an all-time high of nearly $100 per share in 2009 after the failures of Wall Street brutes such as Lehman Brothers and Bear Stearns....
...One of them was a young and ambitious investment banker called Stephen Schwarzman, who had been made a partner at Lehman Brothers that same month....
...Barclays insiders joke that executives within its New York operation never noticed they were no longer working for Lehman Brothers after the UK bank bought the operation in 2008....
...Since Ireland’s Collison brothers founded Stripe in 2009, it has rewarded employees with restricted stock units....
...Reach out to me (imani.moise@ft.com) or Sid (sid.v@ft.com) to let us know. Happy reading!...
...It focuses on the shorter end of the duration spectrum compared with its bigger brother, the $38.6bn iShares Tips ETF, which charges 19 bps....
...We charge banks a transactional fee. Every loan that we analyse is a transactional charge....
...Write to the FintechFT team at imani.moise@ft.com and sid.v@ft.com. You can build it, but will they come?...
...The terms of Fortress’s bid do not require Morrisons to pay a break fee if it recommends a rival bid. The grocer’s directors have already recommended Fortress’s offer....
...It’s mainly based on interchange, which means, whenever you swipe your card we will get a transaction fee....
...(Bloomberg) Open to suggestion Activists swarming corporate Japan have found an ally in Tokyo Stock Exchange boss Hiromi Yamaji, who says more vocal investors could be exactly what Japan Inc needs....
...Epic’s attempt to skirt Apple’s 30 per cent in-app payments fee by letting players use its own payment system resulted in Fortnite being removed from the App Store....
...Uber is just a platform — a broker arranging deals between buyers and sellers for a fee. But the gig economy has proved more expensive than envisaged....
...“So a 30 per cent fee that we don’t have to pay upfront, and allows us to expand our marketing budgets in other ways, is actually pretty large and substantial.”...
...More than 35 per cent of those aged 65-75 felt they needed to make changes to their retirement plans as a result of the pandemic, according to analysis by Close Brothers....
...The Issa brothers and TDR struck a deal to acquire Asda from US retail juggernaut Walmart in October....
...It remains to be seen whether they will reach their ambition, but the two brothers have unlocked a different achievement: becoming the most valuable private start-up in Silicon Valley....
...It’s very competitive,” said John Collison, who launched Stripe in 2010 with his brother Patrick, in an interview with the Financial Times last week....
...The remains of Mr Weill’s empire are: a global investment bank, the former Salomon Brothers; a cut-down US consumer bank; and solid retail operations in Mexico and Asia....
...Redundancies are the corollary of lower fee revenue and slim cash margins — common among law firms....
...Anyway, there’s much to enjoy in the paper for policy wonks, technologists or historians, so do have a read if you want a break from wondering whether we’ll have a V-shaped recovery or not....
...Some hope a bigger fillip to Britain Inc will come from lower oil prices, but that is a vain hope....
...The Bank of Mexico’s lowering of interest rates last week was the 800th rate cut around the world since the collapse of Lehman Brothers, according to Bank of America....
...Business groups and think-tanks are making a mistake to cast Uber v London as a totemic fight to preserve capitalism....
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