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Bolivia’s three-term president, Evo Morales, resigned amidst protests about possible vote-rigging following October’s election. He helped foster a Bolivian middle class, then outstayed his welcome with them, as Anna Szymanski explains. The immediate question is what happens next.
Posted: November 11, 2019, 5:30 pm
Nov 8 - The Japanese company led by Masayoshi Son unveiled a $5 bln writedown on WeWork, Uber and other soured bets. Robyn Mak and Alec Macfarlane discuss what this means for SoftBank’s financial health, and whether its visionary founder can restore investor confidence.
Posted: November 8, 2019, 2:40 pm
Bad guests and dishonest hosts are not welcome at the home-share service, says boss Brian Chesky. He is therefore launching verification for all Airbnb’s 7 million listings. That’s sensible. What’s remarkable is that it’s taken Silicon Valley so long, Jennifer Saba argues.
Posted: November 7, 2019, 5:29 pm
A suggestion of taking the pharmacy chain private, reported by Reuters, could produce a record $87 billion deal – a major stretch even for today’s capital-rich buyout firms. Still, boss Stefano Pessina has pulled off audacious financial feats before. Robert Cyran explains.
Posted: November 6, 2019, 5:36 pm
The ride-hailing firm’s $3.5 bln quarterly revenue is growing briskly – yet so are its accounting quirks and food-delivery losses. Meanwhile a slab of insider shares are about to be released from their lockup. It’s not a good moment to be an Uber investor, John Foley argues.
Posted: November 5, 2019, 5:45 pm
The ousting of McDonald’s chief Steve Easterbrook for a consensual relationship with an employee dented the shares. But investors gain too when companies lay down rules to protect workers and apply them evenly. Other companies haven’t been so responsive. Jennifer Saba explains.
Posted: November 4, 2019, 5:31 pm
Nov 1 - Pharma giant Amgen is buying a fifth of China biotech star BeiGene for $2.7 bln. A 36% premium seems steep when the target has just shaken off a short-seller attack. But it’s a chance to crack a growing market for cancer drugs, Katrina Hamlin tells Pete Sweeney.
Posted: November 1, 2019, 1:40 pm
Oct 31 - Altria is writing down $4.5 billion of its investment in vape-pen maker Juul. The e-cigarette maker is facing tougher regulations in the United States that could slow sales and bite into profits. Robert Cyran explains why Altria may still be too optimistic.
Posted: October 31, 2019, 4:55 pm
The U.S. group’s shares had their best day in a decade thanks to boss Larry Culp’s nips, tucks and trims. The company is cutting debt, and its jet and healthcare units are growing. Culp looks pedestrian compared with his predecessors, and John Foley argues that’s a good thing.
Posted: October 30, 2019, 5:15 pm
Though it’s one of the few profitable food-delivery outfits, Grubhub is feeling the pain from cash-rich, profit-poor rivals like Uber Eats and DoorDash. As Jennifer Saba explains, the competition means Grubhub is going to have to do things it doesn’t want to – just to keep up.
Posted: October 29, 2019, 4:54 pm