Bridgewater Associates’ founder Ray Dalio has overtaken George Soros as the “world’s most successful hedge fund manager” of all-time, claimed a report by the Financial Times on Tuesday, after Dalio’s Bridgewater Pure Alpha fund made over $13.8 billion for his investors last year.
Corporations, today, are holding the largest amounts of cash, relative to assets and net worth, ever recorded. The velocity of money (the frequency at which money is spent, or GDP relative to base money) also continues to plunge to historic lows. But why are companies deciding to hoard cash, when more capital investment is needed to stir economic growth?
Technology giant Apple Inc currently has more money than it would need to run the company, said its CEO Tim Cook during an annual shareholders’ meeting in Cupertino, California on Thursday.
The company has long had a history of stockpiling its cash profits, claimed the Associated Press on Thursday, as former CEO and co-founder Steve Jobs had believed in saving as much as money as possible due to the deep financial problems that Apple had faced during the mid-1990s.
Bank of America Corp, the second largest bank in the US by assets, is planning to quicken the pace of its expansion in China, claimed Bloomberg BusinessWeek on Thursday, after the company doubled its profits last year.
Financial regulators in the US could finally be ready to switch the financial reporting measures for US companies to the globally accepted standards for accounting, said the chief accountant at the US Securities and Exchange Commission on Monday during an interview with Reuters.
A group of natural resources companies, including Royal Dutch Shell and BHP Billiton, are set to oppose new anti-corruption and transparency rules put forward by the US and the EU, claimed a report by the Financial Times on Sunday, after a Shell spokesman lambasted the proposals to have“limited impact and unclear benefits”.
Over the past few years, the development of RMB (Chinese Yuan) denominated bonds issued offshore (generally referred to as “Dim Sum bonds” in the capital markets) has seen exponential growth. We examine the drivers of this growth and how the market has developed and benefitted from regulatory influences and market participation.
Citigroup Inc, the third largest bank in the US, has agreed to pay the US government over $158.3 million to settle an investigation into its mortgage practices, after admitting that it had fraudulently misled the government into insuring risky mortgage loans.
The lawsuit had come after a CitiMortgage employee from Missouri had blown the whistle on 30,000 mortgages certified for insurance by CitiMortgage, which were “knowingly or reckless false.”
Google Inc has removed all content deemed objectionable by a New Delhi court from its Indian domains after being slapped with legal charges in December last year for carrying “offensive and objectionable” material.
McDonald’s are no longer using ammonia hydroxide, labelled “pink slime” by British celebrity chef Jamie Oliver, in its hamburger patties, confirmed a press release by the fast-food chain this week, with mounting consumer pressure forcing the company to revise its recipes.
