It has been a decade since Stephen Schwarzman listed Blackstone, his private equity firm, on the New York Stock Exchange. By most measures, the past 10 years have been good to both Mr Schwarzman and Blackstone. Its asset base quadrupled to nearly $400bn. His name adorns the New York Public Library’s landmark Fifth Avenue building
Month: June 2017
For consumers, more convenience could eventually come at a higher cost. “Retailers have always used door-buster prices to get people in the stores so they can buy more,” Sakraida said. While grocery stores may juice the discounts on some items, they will keep prices steady on others in an attempt to maintain their razor-thin margins.
In the middle of all the excitement that comes with landing that new job, make sure you don’t forget about the retirement money you already socked away in your former employer’s 401(k) plan. That’s the advice offered by Rianka Dorsainvil, a millennial certified financial planner and owner of Your Greatest Contribution. Dorsainvil says it’s important
John Slattery, president & CEO of commercial aviation for Embraer, said Sunday that it’s the biggest plane Embraer has ever built and he expects airlines will recognize its value. “It is very cheap to operate, it is very light and we believe airlines will be able to generate extra revenue and that’s why we’ve called
It was 20 years ago, during the Asian Financial Crisis that was one of the biggest tests of Sukanto’s entrepreneurial journey. He recalled having to divest a 50-50 venture with a European partner in China. As a result, Sukanto brought in almost $1 billion back to Indonesia and felt it was the right strategic decision
The head of Hong Kong-listed China Minsheng Banking said it had lent Anbang Insurance Group only US$100 million, brushing aside speculation about a loan of up to 100 billion yuan (US$15 billion) to the insurance and financial giant, mainland media reported. The remarks by the bank board chairman, Hong Qi, came after reports that Anbang
Fathers shape their children’s financial life. To that point, 56 percent of people said their fathers influenced their retirement savings and 62 percent said their retirement plans are similar to their dads’ strategy, according to a John Hancock Retirement Services survey of 1,007 Americans adults conducted in late April. Paternal influence cuts both ways. A
A flood of Chinese bankers is changing the social fabric of Hong Kong, as they rapidly expand their footprint in one of the world’s premier financial centres, even as Beijing struggles to tame the former British colony politically. Twenty years after Hong Kong’s handover to Chinese rule, scores of mainland professionals are filling the elite
Bitcoin quickly bounced back from the lows of June, amid improved sentiment about the future of the digital currency. Bitcoin traded higher Saturday near $2,680, up more than 20 percent from a June low of $2,185.96 hit Thursday that had erased gains for the month, according to CoinDesk. Worries about overexuberance in digital currencies overall
Careers switchers often make the mistake of not adjusting their market value accordingly and not appropriately anchoring their new numbers in compensation conversations with their potential employers, said Rachel Kim, a senior manager of the career advisory board at online lender SoFi. “Your professional market value is not a fixed number – it is one
Since John Mackey co-founded a precursor to Whole Foods in 1978, he has taken a hands-on management approach to the organic grocery chain. He personally oversaw each step of its national expansion. During a takeover battle 10 years ago, Mr. Mackey used a pseudonym to write anonymous blog posts attacking a competitor. So over the
The world’s millionaires, who represent the top 1 percent of the population, now own a record 45 percent of the global wealth and their share is growing, according to a new report. There are now 17.9 million households in the world, up 8 percent from 16.6 million last year, according to a report from The
While multilateral development banks (MDBs) can support the infrastructure buildout in Asia, national governments need to be the institutions driving the process, a panel of experts said on Saturday. The panel held during an Asian Infrastructure Investment Bank (AIIB) meeting in Jeju, South Korea, focused on the work of governments, commercial banks and multilateral institutions
Finally, Cramer delved into a merger on the horizon that he believes could be one of next year’s best combinations: between American industrial gas giant Praxair and German chemicals company Linde. “First of all, it’s a huge transaction,” Cramer said. “The combination of the American Praxair and the German Linde, which is going to keep
Luis took the helm at a difficult time for the company, which was having trouble re-defining its luxury brand after issuing cheaper products that drove away wealthier customers. “If you want to sell expensive handbags, you need people to believe that they’re going to be exclusive, but Coach had lost what we call ‘the aspirational
As Wall Street digests Amazon’s $13.7 billion offer to buy Whole Foods Market, Jim Cramer flagged some key events and reports on the horizon that could further sway the market. “It’s tough to come back to earth after trying to explore the implications of the most disruptive, most game-changing takeover I can recall, … Amazon’s
While those plans got sidetracked when activist firm Jana Partners took a stake in the company and started pushing for a sale, Cramer said Amazon’s takeover could bring them new life. “I know anyone in grocery was crushed by this today and that makes sense, at least initially. Yes, it’s that much of a disruption
The S&P 500 closed the week essentially unchanged, the Dow Jones industrial average rose slightly and the Nasdaq Composite was just a hair negative. As crude oil turned in its fourth straight week of losses, Miller Tabak equity strategist Matt Maley discusses three key themes he is watching for next week, focusing in on one
Miller said, “The market’s got this right” in terms of how it viewed the Amazon-Whole Foods deal. “The market thinks that is a good deal. It’s going to be value-accretive,” he said. “It indicates that Amazon is serious about the grocery business. This means they’re in it for the long haul.” MIller earned his reputation
Shares of CenturyLink fell close to 7 percent on Friday afternoon after Bloomberg published a story on a former employee, who claims she was fired after bringing attention to allegedly fraudulent billings. According to the report, plaintiff Heidi Heiser filed a lawsuit in Arizona state Superior Court claiming that she was fired after alerting CenturyLink
Lyft shares are changing hands in some private deals in a range between $25 a share and $30 a share, according to another source who has arranged sales of Lyft shares this year and asked to remain anonymous to protect relationships with clients. While that’s less than the $32 a share value in Lyft’s latest
It has been a difficult year for Nike shareholders. And now Wall Street is saying the company’s financial results will get “worse before better.” JPMorgan analyst Matthew Boss told investors Nike sales will weaken and the company will miss earnings expectations next year in a note to clients Friday. As a result, he lowered his
More broadly, Amazon’s popularity has shifted more retail sales online, battering the sector, with no end in sight. The pain is most acute at the mall where foot traffic has slowed. Fewer shoppers mean softer sales, and this was very evident in the latest batch of department store earnings reports. Sears has shuttered stores and
There will be an explosion of volume at the close today as it is both a quadruple witching expiration (the quarterly expiration of stock index futures and options and individual stock and index futures and options) and the quarterly rebalancing of the S&P 500. The S&P rebalances every quarter to account for additions and reductions
“Number two, we don’t recommend Regency because it has grocery-anchored exposure,” he went on. This is now going to be a problem for many REITs that considered grocery anchors to be safe havens of sorts. “How safe is Kroger now?,” Dijkum asked. Shares of Kroger were falling around 12 percent by late Friday. Other grocery
Susana Gonzalez | Bloomberg | Getty Images Robert Kaplan, president and chief executive officer of the Federal Reserve Bank of Dallas, speaks during a Bloomberg Television interview at the Bankers Club Mexico in Mexico City, Mexico, on Friday, Nov. 4, 2016. The Federal Reserve should be cautious about any further interest-rate hikes, Dallas Federal Reserve
Perhaps it was preordained that David Frankel would become a mortgage banker. His memories of his first home as a child in Toronto are hazy, but he knew enough back then to recall it now as “semidetached,” as if “semiattached” might compromise the appraisal or affect the perception of a buyer. When he was 5
Shares of major packaged food companies are trading lower on investor worries the Amazon deal to buy Whole Foods Markets marks a seismic shift for retailers. “This news today is just a recognition that Amazon is making a larger play for the grocery space,” said Morningstar analyst Erin Lash in Chicago. “There’s uncertainty as to
Amazon’s $13.7 billion deal for Whole Foods Markets came together swiftly after the upscale grocer battled activist shareholders over its future earlier this year. The online shopping giant began talking to Whole Foods only about a month ago, sources said, and hired Goldman Sachs to help negotiate a deal. Goldman is also leading banks, including
Hit the brakes before you contact a debt settlement company to grapple with your student loans — some may be in hotter water than you are. NerdWallet, a personal finance website, compiled a watch list of 130 entities, representing approximately 100 companies, that provide debt management and consolidation services for student loan borrowers. In all,