The Scoop AstraZeneca’s planned $400 billion deal with Bristol Myers Squibb triggered worries at the UK government’s highest levels, prompting outreach that helped contribute to the collapse of the deal, according to people briefed on the deal. Varun Chandra, the UK’s top business envoy and an adviser to Prime Minister ...
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Reed Hastings on life after Netflix and the next wave of AIReed Hastings on life after Netflix and the next wave of AI
Netflix co-founder and former CEO Reed Hastings says AI could unleash a new wave of “creative destruction” as companies use rapidly improving technology not just to cut costs, but to challenge competitors and build new businesses. In this episode of , Hastings notes that AI has been getting “roughly twice ...
Saudi regulator probes investment banks as stock market listings flopSaudi regulator probes investment banks as stock market listings flop
The Scoop Saudi Arabia’s stock market regulator is investigating the poor performance of recent initial public offerings, according to people familiar with the matter, and questioning the advice given by investment banks to companies selling stock. The investigation has been underway for several months and covers IPOs going back to ...
Republican students trust their colleges despite Trump scrutiny, poll findsRepublican students trust their colleges despite Trump scrutiny, poll finds
College students who identify as Republicans are more likely than their Democratic counterparts to trust their school to act in their best interests — even as confidence in higher education among conservatives sinks. Sixty-two percent of Republican students said their college’s leadership mostly acts in students’ best interests, compared with ...
Balkans’ Trump lobbying heats upBalkans’ Trump lobbying heats up
The News Bosnian Croat leader Dragan Čović has tapped Trump-linked firm Mercury Public Affairs to lobby for his party, according to Justice Department filings, in a first step toward competing with the country’s Serbian politicians who’ve continued to ply K Street with money. Bosnia’s Republika Srpska has signed lobbying contracts ...
Hormuz closure dents DP World earningsHormuz closure dents DP World earnings
The News DP World weathered a near-collapse in traffic at its flagship Jebel Ali port in the first half of the year, as the closure of the Strait of Hormuz forced it to reroute cargo overland through other ports in the UAE and neighboring countries. Container throughput at Jebel Ali ...
There’s a new status quo in HormuzThere’s a new status quo in Hormuz
US President Donald Trump said this week the US effectively “owns” the Strait of Hormuz, but it might be more accurate to say that in practice, it belongs to the loose cohort of oil tankers that have established what could be a new status quo. While hourly headlines send the ...
US inflation rises 0.1% in July, easing pressure on FedUS inflation rises 0.1% in July, easing pressure on Fed
US consumer inflation rose mildly, increasing 0.1% in July, in line with economists’ expectations. The results, which put the annual rate at 3.4%, ease pressures on the Federal Reserve as it weighs an interest rate hike in September. The inflation data, along with a weak July jobs report, bolster the ...
China’s economic reformer Zhu Rongji dies at 97China’s economic reformer Zhu Rongji dies at 97
Former Chinese Premier Zhu Rongji, a leading architect of the country’s economic rise, has died aged 97. Zhu’s signal accomplishment was steering China into the World Trade Organization in 2001, after laying the groundwork with a host of reforms: overhauling the tax system, commercializing state banks, and smashing the “iron ...
Los Angeles Lakers sold for record $12.5 billionLos Angeles Lakers sold for record $12.5 billion
Former Disney chief Bob Iger and investor Josh Kushner are buying the NBA’s Los Angeles Lakers for a record-setting $12.5 billion, just 14 months after the team sold for $10 billion. Valuations for professional sports franchises have soared to eye-popping levels, as billionaires search for a dwindling number of trophy ...