Bloomberg The activist fund ValueAct Capital Management has amassed a $1.2 billion stake in Citigroup Inc., arguing that the bank long seen as trailing its sector is positioned for success by providing the “plumbing” multinational corporations need to operate. The San Francisco-based hedge fund run by Jeff Ubben, which disclosed a $75 million stake in the bank in February, has ...

Bloomberg Swedish fintech company iZettle AB announced its intention to file for an initial public offering on the Nasdaq Stockholm stock exchange. The company, which competes with Square Inc. and Canada’s Shopify Inc, is seeking to raise 2 billion kronor ($226.6 million) and in a statement on Tuesday said it expected its IPO to be completed this year. Carnegie Investment ...

Bloomberg Social Finance Inc (SoFi), a startup looking to offer a range of banking services to millennials, is working on a credit card and is bringing in a former Citigroup Inc. executive to help oversee the initiative, said people familiar with the matter. The San Francisco-based company hopes to offer credit cards within the next year, said the people, who ...

Bloomberg Athenahealth Inc. surged after activist investor Elliott Management Corp bid to acquire the medical company for $160 a share, saying executives had “failed to correct a host of operational issues.” Elliott, the New York hedge fund led by billionaire Paul Singer, said that it made an all-cash takeover offer, which would value Athenahealth at $6.46 billion. Athenahealth, which makes ...

President Donald J Trump recently wrapped up a three-week whirlwind of summitry, meeting with the leaders of Japan, France and Germany. If his visitors found the experience bewildering, who can blame them? In the past few months the president has repudiated much of what the US once believed about international relations. He’s advocated trade war as an instrument of policy. And ...

I spent the last couple of days at F8, Facebook’s annual tent revival for developers. I’ve consistently found F8 to be the place where Facebook gives the clearest elucidation of how the company sees itself and what it wants to be. This year, Facebook set its renewed mission of connecting people, but this goal comes with a conundrum. CEO Mark ...

Nissan Motor Co.’s jaw-dropping plunge in US car sales shouldn’t be a surprise. The Japanese automaker had it coming all along. Led by industry rainmaker Carlos Ghosn, Nissan’s deliveries in North America declined 28 percent in April. And it wasn’t just one particular make. Sales of almost every model of car and truck slipped, including the high-end Infiniti brand. Japan’s ...

It is generally accepted in economics that financial variables tend to adjust more rapidly than real and policy variables. This seems to be the case this year with the three major transitions that are critical to the longer-term well-being of the global economy and markets. While this process is ongoing, policy makers would be well advised to put these changes ...

Sen. Bernie Sanders, I-Vt., wants the federal government to guarantee a job for every American willing and able to work. The proposal sounds compassionate and enlightened, but in practice, it would almost certainly be a disaster. The fact that it’s taken seriously is evidence that many Democrats, like Republicans before them, embrace loony economic agendas that are more public-relations gestures ...

It was only a decade ago that Nokia OYJ’s smartphone factory near Chennai was seen as the prototype solution for India’s chronic problem of too few women in the workforce. That unit, which at peak production boasted 8,000 permanent employees — 72 percent of whom were women – got left out of a global sale of the Finnish company’s mobile ...