From Breakingviews - Airbnb swerves tech rout with constant change: podcast
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Breakingviews - DBS' safe profit haven nears its peakTop Singapore-based bank DBS on Tuesday released first-quarter numbers that will make rivals envious. The top line jumped 8% from the three months to the end of December. Expenses fell, meaning the bank used just 38% of its revenue to cover costs compared to 59% at JPMorgan . As a result, the firm run by Piyush Gupta earned almost $2 billion, with an annualised return on equity of 18.6%: both are record highs.
Read more »
Breakingviews - Hot money is cold comfort for China sharesMoney flowing into the People's Republic is getting uncomfortably hot. Chinese equities enjoyed renewed foreign interest since the start of 2023. Yet recent reversals in New York, Hong Kong and Shanghai suggest that is driven by fickle short-term funds – exactly what Beijing doesn’t want.
Read more »
Breakingviews - China’s Midea regains outbound deal appetiteMidea , a $58 billion Chinese white goods champion, made waves in Europe in 2016 when it bought German robot maker Kuka for nearly $5 billion. Seven years later, the company is eyeing Sweden’s home appliance brand Electrolux , a complementary asset currently worth around $7 billion including debt. A successful tilt could mark the beginning of a revival in outbound M&A by Chinese firms after offshore deals touched a historic low of $29 billion in 2022, per EY estimates.
Read more »
Breakingviews - Jamie Dimon bails out First Republic – and FDICJamie Dimon is back at the bailout rodeo. After buying Bear Stearns 15 years ago left a bad taste in his mouth, JPMorgan’s CEO said he’d never ride to the rescue again. In the wee hours of Monday morning, however, he agreed to take mid-sized First Republic Bank out of receivership from the Federal Deposit Insurance Corp. It relieves pressure on taxpayers for now and should benefit his mega-bank’s shareholders, but suggests U.S. authorities don’t have a handle on how to rescue collapsing lenders without further entrenching a risky too-big-to-fail mentality.
Read more »
Breakingviews - Tech groupthink could hinder AI competitionEveryone wants a piece of OpenAI, the startup behind artificial intelligence-powered chatbot ChatGPT. After raising $10 billion from technology giant Microsoft , the company has raked in another $300 million from venture capital’s leading lights, including Andreessen Horowitz and Sequoia Capital, TechCrunch reported. Its competitors may struggle to find backers with deep enough pockets to help them unseat the reigning leader.
Read more »
Breakingviews - Ending the retailers’ crisis has a high price tagHigh-street retailers are facing a heavy bill to weather the cost-of-living crisis. Executives and investors attending the World Retail Congress in Barcelona last week laid out a relatively grim outlook for the sector, where cost-conscious customers are buying sparingly and favouring engaging shopping experiences. Turning the tide requires a big spend that only the strong can afford.
Read more »