August, 2018

• 14 August

  Musk working with Silver Lake, Goldman to take Tesla private

  

  Bloomberg Elon Musk continued to drip feed details of his controversial plan to take Tesla Inc. private, saying that he’s getting advice from Goldman Sachs Group Inc. and private-equity firm Silver Lake. In a tweet, the electric-car maker’s chief executive officer said he’s also lined up legal advisers for the possible transaction. A Tesla spokesman said Musk’s tweet refers to ...

  Read More »
• 14 August

  Ford fighting with Wall Street over its cherished dividend

  

  Bloomberg Wall Street says Ford Motor Co. must cut its dividend. The automaker says that’s nonsense. The debate erupting over Ford’s quarterly payout to shareholders — including the founding family that derives millions from the disbursements — is exposing a growing and contentious divide over what needs to be done to fix the ailing automaker. Analysts at Morgan Stanley and ...

  Read More »
• 14 August

  Europe may have stable weather until October

  

  Bloomberg The high pressure system that brought record temperatures to parts of Europe this summer and blocked wind from blowing through the region looks set to last until October, potentially limiting returns for wind-farm operators from SSE Plc to Orsted AS. Wind generation was 20 percent below average last month, according to weather data company Vaisala OYJ. In parts of ...

  Read More »
• 14 August

  Brexit sees number of EU workers in UK fall

  Bloomberg Further evidence that Brexit is deterring EU workers emerged in figures published on Tuesday. The number of EU nationals working in the UK in the three months through June plunged by 86,000 from a year earlier to 2.28 million, the biggest decline since records began in 1997, the Office for National Statistics said. The 3.6 percent drop was driven ...

  Read More »
• 14 August

  Vienna takes Melbourne’s crown as world’s most liveable city

  

  Bloomberg Vienna has ended Melbourne’s seven-year reign as the world’s most liveable city, according to the Economist Intelligence Unit. The Austrian capital scored a near perfect score of 99.1 out of 100 in the index, whose criteria include stability, healthcare and the environment. Cities in Australia and Canada took six of the top 10 spots, with the US again missing ...

  Read More »
• 14 August

  What China actually needs to understand about Trump

  

  It was late November 2016, and my Chinese counterpart, Vice Premier Wang Yang, was visiting Washington, DC. Over the course of my tenure as US Secretary of Commerce, the vice premier and I had developed a warm and candid relationship. Since this was to be our last official meeting, I decided to do something a bit different: take him to ...

  Read More »
• 14 August

  Unwinding $7bn of investments

  

  GAM Holding AG should be applauded for moving swiftly to resolve the crisis engulfing its 7.3 billion Swiss francs ($7.3 billion) of unconstrained absolute return bond funds. But investors are about to learn how easy – or hard – it is to find buyers for such a large group of investments at acceptable prices. It could deliver a costly lesson ...

  Read More »
• 14 August

  John Studzinski’s exit says something about Blackstone

  John Studzinski’s departure from Blackstone Group LP says something about the buyout firm and the value of rainmakers in the second half of their career. He’s among the finance industry’s most successful, best-connected dealmakers, with a global network and wide-ranging interests. Yet that didn’t make him invaluable to Blackstone, and suggests that advisers add most value when they work for ...

  Read More »
• 14 August

  Is the US rapidly turning into an oil economy

  The oil market has changed a lot over the past decade. Here, for example, is the latest data on US imports and exports of crude oil and petroleum products, released by the Energy Information Administration at the end of last month: The US has gone from a big-time net importer of oil to a small-time one. The latest base-case forecast ...

  Read More »
• 14 August

  Tesla proves most lucrative, least volatile auto stock

  

  Nikola Tesla electrified the world in the 19th century when he created the alternating-current motor and anticipated 21st century mass communication with his work on wireless transmission of voices, images and moving pictures. Unlike the Serbian-American inventor who died destitute at 86 in 1943, his namesake Tesla Inc. is so esteemed eight years after becoming a public company that its ...

  Read More »