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Thursday, March 23, 2017
By Andrew Ross Sorkin When it comes to policing Wall Street, there are two distinct narratives about Preet Bharara’s tenure as the US attorney for the Southern District of New York. If you think back to the immediate years following the financial crisis of 2008, Bharara, who took office in 2009,...
In the stormy and ever-changing world of global finance, insurance has remained a relatively placid backwater. With the notable exception of AIG, an American insurer bailed out by the taxpayer in 2008, the industry rode out the financial crisis largely unscathed. Now, however, insurers face unprecedented competitive pressure owing to...
By Mark Scott When SoftBank, the Japanese telecommunications giant, bought the British semiconductor designer ARM Holdings last year for $32 billion, Masayoshi Son, SoftBank’s founder, said the deal would bring benefits like jobs and investment to Britain. Now, just six months later, SoftBank is in final-stage talks to sell a 25-percent...

Subatomic Opportunities

A bathing cap that can watch individual neurons, allowing others to monitor the wearer’s mind. A sensor that can spot hidden nuclear submarines. A computer that can discover new drugs, revolutionize securities trading and design new materials. A global network of communication links whose security is underwritten by unbreakable...
By Chad Bray The French waste and water company Suez Environnement said recently that it had partnered with a Canadian pension fund manager to acquire General Electric’s water treatment technology business in an all-cash deal that valued the business at about $3.4 billion. The industrial conglomerate put GE Water and Process...

The Bolthole Economy

Many Americans were taken aback when, in January, news broke that Peter Thiel, an internet billionaire and adviser to President Donald Trump, had New Zealand citizenship. For five years this backer of an “America first” president had kept his Kiwi passport quiet. Then the government released details of his...
By Andrew Ross Sorkin As camera lights flashed, President-elect Donald Trump strode across the lobby of Trump Tower with Masayoshi Son, the colorful Japanese entrepreneur, in December. “This is Masa of SoftBank from Japan,” Trump said before boasting that Son’s SoftBank—which is in the process of amassing a giant $100-billion fund—had...
It has been many years since France last had a revolution, or even a serious attempt at reform. Stagnation, both political and economic, has been the hallmark of a country where little has changed for decades, even as power has rotated between the established parties of left and right. Until...
On the campaign trail, Donald Trump’s trade policy was an alarming mixture of coruscating complaints and fierce threats of protectionist retaliation. But the world has been in the dark about how much of this rhetoric his administration might turn into reality. A flicker of light came on March 1...
By Chad Bray The London Stock Exchange Group said recently that European regulators were unlikely to approve its merger with Deutsche Borse, which would have created a European heavyweight in a rapidly consolidating industry. The London exchange said regulators at the European Commission had made the sale of its majority stake...
By Michael J. de la Merced The chief executive of SoftBank, Masayoshi Son, is an inveterate deal-maker. And recently, the Japanese mogul unveiled his latest: a complex merger to expand his elecommunications empire. By orchestrating the merger of OneWeb, a satellite operator where Son has already invested $1 billion, with a...
Almost 150 years after photovoltaic cells and wind turbines were invented, they still generate only 7% of the world’s electricity. Yet something remarkable is happening. From being peripheral to the energy system just over a decade ago, they are now growing faster than any other energy source and their...
By Nathaniel Popper In 2011, Brett King was promoting his book, Breaking Banks, and creating a startup that he hoped would do to the banks what Amazon did to the retail industry and Facebook did to media. “We had grand ideas of being the Facebook of banking, and being a new...
By Andrew Ross Sorkin Poof: $100 billion disappeared. That’s the figure that Warren E. Buffett recently calculated that pension funds, endowments and wealthy individuals have lost over the last decade to hedge funds and other money managers that charge sky-high fees. “I believe my calculation of the aggregate shortfall is conservative,”...
Might Donald Trump’s promise to shake up America’s trade policy extend to its statistics? According to a report in The Wall Street Journal, discussions are afoot on changing the way trade figures are tallied. The Bureau of Economic Analysis, the country’s main statistical body, calls this “completely inaccurate.” But...

Intel on the Outside

"We almost went out of business several times.” Usually founders don’t talk about their company’s near-death experiences. But Jen-Hsun Huang, the boss of Nvidia, has no reason to be coy. His firm, which develops microprocessors and related software, is on a winning streak. In the past quarter its revenues...
By Landon Thomas Jr. Markets hate uncertainty. It is one of the oldest saws in finance. Yet even as a series of political scandals flare up in President Donald Trump’s nascent administration, raising questions about his ability to pursue an investor-friendly agenda of tax cuts, deregulation and fiscal spending, the...
By Mike Isaac & Daisuke Wakabayashi SAN FRANCISCO—Late last year, Uber, in defiance of California state regulators, went ahead with a self-driving car experiment on the streets of San Francisco under the leadership of Anthony Levandowski, a new company executive. The experiment quickly ran into problems. In one case, an autonomous...
"We are proud of our Muslim community in Michigan,” says Rick Snyder, the state’s Republican governor, sitting in his office in the grandiose Cadillac Place, the former headquarters of General Motors. Ever since his first state-of-the-state address in 2011, Snyder has emphasized the importance of welcoming people from across the...
"When the vote took place,” says Valérie Pécresse, “it was an opportunity for us to promote Île de France,” the region around Paris of which she is the elected head. Two advertising campaigns were prepared, depending on the result of Britain’s referendum last June on leaving the European Union....