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Very good, very bad night for Bloomberg
Mike Bloomberg has spent more than $ 1 million climbing the poll for the Democratic nomination. However, during last night’s presidential debate, money was not spared the expense of broadly panned performances. As The Blue Patel of The Verge, it was “like the gap between a dominant marketing campaign and a real product in front of reviewers” Keep it. (As a professional technology reviewer, he knows what he’s talking about)
Mr Bloomberg didn’t seem ready. “His humble rejection ignited a greater count of motivations among his peers, who slashed and hesitated with enthusiasm that the race had not seen before,” writes Matt Felzenheimer of the NYT. He took on Senator Bernie Sanders, though: “What a beautiful country we have. The country’s most well-known socialists can be billionaires with three houses. What did I miss here? “
How other candidates hit Mr. Bloomberg:
• Senator Elizabeth Warren: “I want to talk about who we are fighting against: a billionaire who calls lesbians in the face of women’s fat broads and horses, and no, I’m not talking about Donald Trump.”
Oe Joe Biden: “The truth of the matter is, he didn’t manage his city very well – very well when he was. He didn’t do much.
Te Pete Buttigieg: “Most Americans don’t see where they fit in. If they can choose from a socialist who thinks that capitalism is the root of all misery and a wealthy who think money has to be the root of all power.”
Senator Amy Klobuchar: “You don’t think you look at Donald Trump and say, ‘We need to get rich in the White House.'”
Heating was the subject of a nondisclosure agreement Some former Bloomberg LP female employee has signed on to accuse Mr Bloomberg of harassment and discrimination. Mr Bloomberg refused to release all these women from the N.D.A.s, calling them “consenting” – then The light appeared Continued further attacks by Mrs. Warren and others.
Predicted markets are emerging fast About Mr. Bloomberg’s acting. His response to the protection of the Democratic nomination was reduced by 10 percentage points in 24 hours, according to 19 percent ElectionBettingOdds.com.
Our favorite snark from Twitter Comes from @IvanTheKOne for Bloomberg Terminal users: “Team Bloomberg Now:
Occupation: “There was not much debate in favor of suggesting that the national front-runner and Nevadara caucus be thrown off the balance for Saturday’s victory,” said Mr Sanders. NYT authors Alex Burns and Jonathan Martin.
Today’s dealbook briefing was written by Andrew Ross Sarkin of New York and Michael J. De La Merced and Jason Carrion of London.
The End of an Era for Les Wexner and Victoria’s Secret
Long-serving CEO The S&P 500 will step down after selling a majority stake in Victoria’s Secret, Reports WSJ. The agreement between Mr Wexner’s El Brands and the private equity group Sycamore Partners will cost the lingerie company $ 1.8 billion, the NYT wrote.
Mr Wexner bought Victoria’s Secret in 1982 for $ 1 million. It now accounts for more than half of L Brands ’revenue, which Billionaire has run for the past 57 years. Mr Wexner will remain on the El Brands board and hold his position in both Victoria’s Secret and Bath & Body Works, which will remain in the El Brands Empire. (After Mr. Wexner’s resignation, Warren Buffett of Berkshire Hathaway became the longest serving Blue-Chip CEO in 50 years))
The long period of retail tycoons ends under the cloud, NYT Victoria’s Secret has exposed a culture of misery, nonsense and harassment, and has extended an inquiry into Mr Wexner’s deep ties to disgraced financier Jeffrey Epstein. From the top 20, El Brand’s market value has dropped by about 75 percent as Victoria’s Secret has struggled to adjust to changing fashion trends, particularly in the representation of female beauty ideas and advertising.
An unexpected choice for UBS’s new boss
Ralph Hammers of the Dutch bank ING has been named the next CEO. Swiss banking giant replaces Sergio Ermo. Although it was an open secret that UBS looked for in Mr Ermotti’s successor, Mr Hammers was not at the top of the market watchers shortlist.
What is the plan now? Mr. Hammers has spent nearly 30 years at ING and was credited as a digital major with a major retail-centric bank. UBS is a different animal, relying heavily on its high-end asset management tasks. It is not hard to imagine that a casting on Mr. Hammers’ ing could come to UBS. Recently it has struggled to keep its spending down.
Mixed signals from markets: Share prices for both UBS and ING were up in the news.
The White House saw no problem with the monopoly situation
According to the NYT’s Jim Tankersi report, dominating the market for some big companies is not a bad thing, according to the Trump administration
In their annual economic report to the President, released on Thursday, Mr. Trump and his advisers effectively rejected an emerging line of economic research that showed that large American companies were increasingly dominating industries such as telecommunications and technology, suppressing competition and damaging customers.
Yes but: But technology companies are scrutinizing whether they are too big, though they may be driven by settling political scores rather than purely economic concerns.
EU See many issues with monopoly
Brussels officials yesterday “unveiled proposals for the acquisition.”Technological sovereignty, “Europe’s policy makers fear that their economies are becoming too dependent on” door-to-door “technology companies (mainly the United States).
An original passage in the report Incredible views suggest a broader view of policy that can make the lives of many US technicians difficult:
Competition policy alone cannot solve all the systemic issues that arise in the platform economy. On the basis of a single market logic, additional rules may be needed to ensure competition, fairness and innovation and the potential for entry into the market, as well as competition or public interest that goes beyond economic considerations.
• Alstom and Bombardier are seeking to consolidate their train from the political turmoil that sank previous deal with Siemens of Alstom. (Bloomberg)
• China’s consolidated HNA is in talks to favor a state bailout, which can sell its airlines assets. (Bloomberg)
Two is an official contract to sell itself to its 21 largest landlords for 21 of all time. (Reuters)
Peter Founder Fund, the venture capital firm co-founded by Peter Thiel, has raised over £ 3 billion for its latest fund (Axios)
লি Political political firm SKD Konikbarrocar plans to announce this morning that it has acquired Sloan Communications, a financial PR shop. “This is our first (not the last) acquisition,” SKD chief Josh Isse tells us.
Politics and policy
। The White House acknowledged yesterday that the trade war has hit US economic growth. (Bloomberg)
• Boeing urges Washington state lawyers to stop tax breaks for aircraft manufacturers to avoid international trade sanctions. (NYT)
Last Fed at its meeting last month identified the coronavirus outbreak as an economic risk. (NYT)
How the pharmaceutical industry lost some of Washington’s tension. (WSJ)
• Some Oracle employees are planning a walkout today over founder Larry Ellison, hosting a fund-raiser for President Trump. (Business Insider)
• Google is reported to have planned to end the EU. Brexit is the next data protection practice for British users. (Reuters)
The first wave of next-generation 5G wireless networks will probably cover a quarter of the world’s population, McKinsey said. (Luck)
• MGM Resorts said it suffered a data breach last year, but did not disclose financial information to customers. (NYT)
The rest is the best
• Some companies have stopped renting smokers. (Fulltime)
Want to buy a Gulf Jet in WeWork? It’s in the market. (Business Insider)
The abducted financier Zhao Lo has been identified as the epicenter of coronavirus outbreaks in Wuhan, China, at the center of the 1 1 MDB fraud scandal. (Bloomberg)
করবেন Hate corporate buzzwords? “Take a deep dive” in this article and then “touch base”. (The atlantic)
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