'Medical check-ups': Japan firms tap banks for advice as activists circle

'Medical check-ups': Japan firms tap banks for advice as activists circle

TOKYO (Reuters) – Japanese companies are increasingly turning to investment banks and public relations firms for advice on dealing with potential approaches by activist investors who are targeting low valuations and cross-shareholdings in the nation. A man is seen at a a commercial building at closing hour at a financial district in Tokyo, Japan, November […]

Wall Street slips as trade worries dampen upbeat earnings

Wall Street slips as trade worries dampen upbeat earnings

NEW YORK (Reuters) – U.S. stocks ended slightly lower on Friday as escalating trade anxieties driven by U.S. President Donald Trump’s latest tariff threats against China offset a string of robust earnings led by Microsoft. The Dow Jones Industrial Average posted its third consecutive weekly gain, while the S&P 500 also rose for a third […]

U.S. municipal bond funds post $1.3 billion in inflows: Lipper

July 19 (Reuters) – U.S. municipal bond funds reported $ 1.3 billion of net inflows in the week ended July 18, compared with $ 651 million in inflows in the previous week, according to data released by Lipper on Thursday. The four-week moving average remained positive at $ 535.4 million, said Lipper, a unit of […]

Ex-Point72 portfolio manager to launch macro hedge fund Entheos: sources

NEW YORK (Reuters) – Erik Cetrulo, a former portfolio manager at Steven Cohen’s Point72 Asset Management, is raising funds for a global macro discretionary hedge fund and is targeting a launch in the first quarter of 2019, two sources familiar with the situation said. Entheos Capital Advisors formed its limited partnership in recent weeks, and […]

What really happened to EgyptAir Flight 804?

What really happened to EgyptAir Flight 804?

GULLIVER is not the type of person to kick up a fuss on his travels, least of all when lucky enough to be at the front of the plane. But his patience was pushed to the limit a couple of years ago, when his EgyptAir flight from Cairo to London was blighted by the near-constant […]

Bank of America profit beats on consumer loan growth, lower expenses

Bank of America profit beats on consumer loan growth, lower expenses

(Reuters) – Bank of America Corp reported quarterly profit above analyst expectations on Monday as the second-largest U.S. lender cut expenses and benefited from growth in loans and deposits on the back of a strengthening economy. Noninterest expense dropped 5 percent in the quarter from a year earlier as the bank trimmed headcount and worked […]

Law firms climb aboard the AI wagon

Law firms climb aboard the AI wagon

LONG hours have been the bane of the legal profession for ages; few of them involve thrilling courtroom antics. As a junior corporate lawyer at Davis Polk & Wardwell, a law firm in New York, John Bick remembers spending most of his waking hours poring over contracts looking for clauses that could complicate or kill […]

A Chinese music-video app is making WeChat sweat

A Chinese music-video app is making WeChat sweat

A PUBLIC spat between two warring and wildly popular Chinese apps has had the feel of a teenage dance-off. “Sorry, Douyin Fans”, ran an article from the short-video app on its WeChat account, in which it accused the mobile-messaging service of disabling links to Douyin’s most popular videos. “All hail Douyin the drama queen,” retorted […]

Is North Korea the next Vietnam? Don’t count on it

Is North Korea the next Vietnam? Don’t count on it

AS AMERICA presses North Korea to abandon nuclear weapons, it has pointed to Vietnam as an example of the prosperity that awaits the isolated state. “It can be your miracle in North Korea as well,” Mike Pompeo (pictured), the secretary of state, said on July 8th, on a visit to Hanoi. It is not the […]

Investors are gorging on American assets

Investors are gorging on American assets

ECONOMISTS think prices, like spilt ketchup, are sticky. They move only slowly as firms digest economic conditions. Financial markets are an exception. Computerised trading by thousands of participants means prices, especially of currencies, can move in a McFlurry. Since The Economist last updated the Big Mac index (BMI), our lighthearted guide to currency valuation, burger […]