Wall Street Says ‘Timeout Called’ as Rally Wanes: Markets Wrap
Wall Street’s torrid surge from April’s meltdown is showing signs of exhaustion as stock traders await fresh catalysts amid risks stemming from a labor-market slowdown to sticky inflation. While the S&P 500 has defied September’s gloomy reputation as the worst...
China Buys More Argentine Soybeans as Tax Relief Spurs Trade
China bought at least 10 more cargoes of Argentine soybeans, taking advantage of a temporary break in the South American country’s export levies to stock up amid a trade war with the US, its second-largest supplier. Importers snapped up the shipments on Tuesday,...
Brazil’s 7.5% Tax Bill Plan Rattles LCA, LCI Markets
Brazil President Luiz Inacio Lula da Silva’s administration is racing to balance public accounts ahead of next year’s elections, with the economic team now focused on offsetting the IOF tax. One option under debate is raising the proposed income tax on Agribusiness...
Apollo Targets Wealthy Europeans With New Private Capital Funds
Apollo Global Management Inc. is rolling out three new private capital funds for wealthy individual investors in Europe, intensifying the competition for a group seen as key to the growth of private markets. The three new funds will broaden access to Apollo’s European...
Nvidia’s OpenAI Deal Fuels ‘Circular’ Financing Concerns
Three years after OpenAI and Nvidia Corp. helped kick off the global artificial intelligence frenzy, the two firms are joining forces to pave the way for a more costly phase of development with a deal that’s quickly revived fears of an AI bubble. Nvidia on Monday said...
Guterres Warns World Has Entered Age of ‘Reckless Disruption’
UN Secretary-General Antonio Guterres warned the world had entered an age of “reckless disruption and relentless human suffering” as he offered a pessimistic global outlook to world leaders gathered in New York. Guterres lamented “sovereign nations invaded, hunger...
An $800 Billion Revenue Shortfall Threatens AI Future, Bain Says
Artificial intelligence companies like OpenAI have been quick to unveil plans for spending hundreds of billions of dollars on data centers, but they have been slower to show how they will pull in revenue to cover all those expenses. Now, the consulting firm Bain &...
The new Private Magnificent 7 represent staggering growth and $1.2 trillion in value
The private market is experiencing a period of significant growth, defined by record level valuations1 and a recent surge of investor enthusiasm.2 Since the end of 2022, the value of the top seven private companies — The Private Magnificent 7 (“Private Mag 7”) —...
US IPO Rebound Does Little to Dent Private Markets’ Rapid Growth
Investment bankers are cheering the recovery in US first-time stock sales. But the revival comes too late to halt a decades-long slump in the number of public companies amid the unchecked growth of private markets. The number of American public companies stood at...
How Government Caused the Great Depression
The precise causes of the Great Depression remain a subject of debate, although, as economist Richard Timberlake observed in 2005, “Virtually all present-day economists . . . deny that a capitalist free-market economy in any way caused” it. At the time, however, the...
Dollar Nears a Three-Year Low Ahead of FOMC’s Rate Decision
Bloomberg’s gauge of the dollar approached its lowest level since March 2022 ahead of the Federal Reserve decision, where policymakers are expected to resume cutting interest rates to prop up a weakening labor market. The Bloomberg Dollar Spot Index was little...
Private Markets’ Exposure Rises at Top Pension Funds
Regulation and compliance have driven an unprecedented wall of US retirement money into private assets, a new report by Bloomberg Intelligence shows, casting new light on the real-world risks from finance’s continued push into areas beyond the traditional oversight of...
Ralph Lauren Slips as Three-Year Sales Guidance Disappoints
Ralph Lauren Corp. sees revenue growth remaining similar to recent rates over the next three years, according to the preppy fashion company’s latest strategic outlook. The New York-based retailer is projecting sales to grow at a mid-single-digit percentage annually...
Mutual Fund Titans Plowed Into Private Markets. It Isn’t Working
Asset managers expanded into alternative investments for higher fees. Some ended up facing culture clashes and sluggish pickup from salespeople. If there ever was a perfect moment for a mutual fund giant to leap into the hotter arena of alternative investments, T....