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Campbell Soup Co and Third Point Locked in for a Messy Proxy Contest
With the filing of definitive proxy statements this week, it is clearer than ever the Dan Loeb’s Third Point Partners and Campbell Soup Co are digging in for a messy proxy contest. At more than $11 billion, Campbell Soup Co is likely to be the biggest U.S. company to be subjected to solicitations for two rival slates this year, after
How Low Can Emerging Markets Go?
Emerging-market (EM) stocks fell in the third quarter and continued to diverge sharply from developed-market equities. While it may be too soon to buy into the weakness, investors should watch for signs that could herald a quick rebound. US, European and Japanese stocks have all advanced this year. But the MSCI Emerging Markets Index has tumbled in local-currency terms—and even
Summer Capital Acquires Stake in Pending ‘Cryptocurrency Investment Bank’
Hong Kong-based investment firm Summer Capital is betting that regulators will allow SEBA Crypto AG to become the world’s first crypto investment bank, according to the SCMP: Summer Capital spokesman Jack Chung said he expects SEBA, which is headquartered in the affluent Swiss municipality of Zug, to receive approval as a banking and securities dealer by the Swiss Financial Market
Report: Google Hid Massive Data Exposure Because it Worried About Regulatory, Reputational Damage
A software glitch exposed the private data of hundreds of thousands of users on Google+ for about three years, but parent company Alphabet chose not to disclose the problem because it feared regulatory blowback and damage to its reputation, the Wall Street Journal reports. In response to the glitch, Alphabet is effectively shuttering Google+, which tried - but failed -
Yale's David Swensen Makes First Investments in Cryptocurrency
David Swensen, the legendary chief investment officer of Yale University's $29.4-billion endowment, has apparently bucked the trend of some other high-profile investors and begun betting on the cryptocurrency market. CNBC is reporting that Swensen has invested in two crypto-focused venture funds: Andreessen Horowitz's recently launched $300 million fund and Paradigm, which is a new fund focused on blockchain and cryptocurrency
Three Hints on the Direction of Chinese Assets
The Chinese stock market is closed this week for the Golden Week holiday. On this side of the Pacific the markets have been busy this week with US Treasury bond yields breaking out and stocks selling off—especially technology—based on the revelation that China implanted devices in technology products shipped to the US. After being closed for five days, there is
Events That Changed Cybersecurity Forever
FinTech
Did you know that the word “virus” is derived from the Latin word for “poison”? How Viruses Work A virus is not the same thing as bacteria. It is much smaller and not technically an organism. Composed of only genetic material and protein, viruses need living hosts to survive. They can easily spread from person to person by touch or
Report: Coinbase is About to Become One of the Richest Startups in the U.S.
Coinbase is finalizing a deal with Tiger Global that will value the company at $8 billion and make the San Francisco-based company one of the richest startups in the world, Recode reports. Tiger Global appears ready to make a $500-million investment in Coinbase, one of the most popular cryptocurrency exchanges in the U.S., and the company "is expected to add
Is Mark Zuckerberg Still the Right Man to Lead Facebook?
When Tesla's shares rallied on Monday after the company settled the lawsuit filed by the Securities and Exchange Commission over Elon Musk's really dumb tweet, there was one big reason for the rally: As part of the settlement Musk was forced to step down as chairman for at least three years, but - more importantly - the S.E.C. is allowing
AMD Vs. Intel: Where Do the Stocks Go From Here?
Intel Corporation (NASDAQ: INTC) has outperformed Advanced Micro Devices, Inc. (NASDAQ: AMD) by nearly 30 percent since Sept. 12 on reports that Intel’s 10nm chip delays might not be as bad as feared, but one Wall Street analyst says AMD is still the stock to buy at this point. The Analyst Bank of America analyst Vivek Arya reiterated his Buy