Saudi Aramco’s biggest asset could also be a liability.
The state energy giant’s vast oil reserves – it can sustain current production levels for the next 50 years – make it more exposed than any other company to a rising tide of environmental activism and shift away from fossil fuels.
In an attempt to draw a line under years of scandals and heavy losses, Sewing is pulling back from investment banking and rebuilding Deutsche Bank’s (DBKGn.DE) corporate division by deepening existing relationships and attracting clients beyond its traditional blue-chip customers.
But when Deutsche has tried to expand its business with Zalando by offering to hold more of its cash for free, rather than charging a fee, Zalando (ZALG.DE) has declined.
The company, whose revenue has grown to 5 billion euros ($5.6 billion) in the 11 years since it was founded, wants to continue to spread its risk by leaving its cash with a wide range of institutions, sometimes for a fee.
For more than a week, the young men of Soura, a densely populated enclave in Kashmir’s main city of Srinagar, have been taking turns to maintain an around-the-clock vigil at the entry points to their neighborhood.
Soura, home to about 15,000 people, is becoming the epicenter of resistance to Indian government plans to remove the partial autonomy that was enjoyed by Jammu and Kashmir, the country’s only Muslim-majority state.
The enclave, which has effectively become a no-go zone for the Indian security forces, is now a barometer of the ability of Prime Minister Narendra Modi’s Hindu-nationalist government to impose its will in Kashmir after its dramatic move on Aug. 5 to tighten its control over the region.
The German economy could slip into a technical recession in the third quarter after failing to recover over the summer, the Bundesbank said on Monday.
In a monthly report, the Bundesbank said falling industrial production and orders would likely lead to a continued shrinkage in the period from July to September, after Germany saw a drop of 0.1% from April to June.
This would mean the economy would fulfill the definition of a technical recession, which is two consecutive quarters of negative growth.
Boris Johnson is facing calls to ensure there is no return to a hard border in Ireland after the prime minister wrote to European Council president Donald Tusk urging him to drop the backstop.
Mr Tusk responded by suggesting the PM was “not proposing realistic alternatives” to the backstop, while one French diplomat called his plan “a joke”. Labour said Mr Johnson’s letter was a “fantasyland wish list”.
So is crypto the next big thing in institutional investment, or is this fighting over scraps? For now, crypto custody still involves a relatively small pool of money. Coinbase got a boost earlier this month when Grayscale Investments moved its $2.7 billion worth of crypto funds from Xapo to Coinbase, more than doubling the company’s assets under custody. That’s tiny compared with the trillions under management for a company like Fidelity. Custody competitors like Palo Alto, California-based BitGo have reportedly been circling for Xapo’s other clients.
Still, companies like Coinbase and Fidelity think there’s room for growth. In May, Fidelity released a survey of more than 400 institutional investors that found 22 percent already held cryptocurrency, and another quarter saw potential to do so.
On Wednesday, the Dow Jones plunged as 800 points after the U.S. bond market flashed a signal that a recession may be on the horizon. Rational people understand that this is largely happening because of persistent fears about Donald Trump’s never-ending trade war with China, in addition to concerns about a global economic slowdown.
And then you have the president, who has never once been accused of being rational, smart, or even sane, and who believes that this is all the Federal Reserve’s fault.
.. common sense and the hard truth of history suggest that VCs risking other people’s money look heroic in upturns and turn tail faster than any in downturns. Read Sequoia Capital’s famous “R.I.P.” presentation from 2008 to understand the mentality.
Today’s leading investors and entrepreneurs either have never lived through a recession or were at much smaller operations during the last one, nearly a decade ago.
Ideas that seem really good when there’s money to burn suddenly seem foolish when there isn’t.