Uber Earnings Pop on Increased Ridership

Uber just posted a five-star quarter. As other tech titans take a beating this earnings season, the perpetually stalled-out rideshare leader on Tuesday reported one of its strongest earnings results ever — due to a massive increase in ridership. It…

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Goldman Sachs Buys Dutch Asset Manager for $1.9 Billion

Goldman Sachs said Thursday that it is buying Dutch firm NN Investment Partners for $1.9 billion. It’s a two-birds-with-one-stone kind of deal — in addition to staking a claim in Europe’s massive asset management business, Goldman gains control of hundreds…


Share Buybacks and Rampant Corporate Spending are the Stock Market’s Saving Grace

There’s a lot of Delta anxiety weighing on markets these days, but investors are pointing to one reason it’s okay to relax: U.S. companies have hoards of cash. They’re also spending it, making large capital outlays to build factories and…


SpaceX, Cargill, DraftKings, and WeWork Complete Major Mergers And Acquisitions

It’s the Summer of Love, and big business is along for the ride. Across numerous industries this week, flings among various major players are turning into full-fledged unions in a series of high-profile mergers, acquisitions, and partnerships. SpaceX, DraftKings, and…


Aon And Willis Towers Watson Call Off $30 Billion Merger

The U.S. Department of Justice is objecting to corporate marriages like a scorned ex-lover in a sappy rom-com taking the “speak now or forever hold your peace” prompt at a wedding as a personal directive. Case in point — insurance…


Blackstone Billionaire Funds Olympic Track Stars as Sponsorships Evaporate

One of the world’s richest men has quietly become a top backer of U.S. Olympic track and field athletes, just as leading shoe companies have drastically slashed their sponsorship budgets. Blackstone founder and $29 billion man Stephen Schwarzman has donated…

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IRS Leak Discloses What We Already Knew

This may not qualify as news. Yesterday non-profit ProPublica published details of what it called a “vast trove of Internal Revenue Service data.” The report revealed that many billionaires go to great lengths to shield themselves from the tax man…


Katerra Was Supposed to Revolutionize Construction… Instead It’s Declaring Bankruptcy

Startup Katerra promised to shake up the world’s $12 trillion construction industry, and on a massive scale. Valued at $4 billion, it was one of the splashiest investments in SoftBank $100 billion Vision Fund. But on Monday, the roof collapsed….


U.S. Banks Could Slash 10% of Jobs in Next 10 Years

The pendulum can swing quickly in the world of finance. Last year, amid the frenzy of mortgages and government-backed small-business loans, American banks increased their headcounts by roughly 2%. Now, as the new Roaring Twenties kick off with an economic…


Kroger Cash Out

It’s no secret that CEOs can make a lot of money. Yesterday Rodney McMullen, longtime CEO of Kroger, did it the wrong way. The Problem In early 2020, as the coronavirus swept across the U.S., McMullen announced a $2 hourly…


Americans Paid Down Their Credit Cards, Lenders Are Starting to Freak

A year ago, when the world was on a financial cliff, credit card issuers were licking their chops. Analysts predicted that U.S. consumers were in for a rough ride, which would have required them to dip into credit lines to…

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Extra Credit: The Shifting World of Private Credit Markets

Tale of the Tape: Warren Buffett and Cathie Wood

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