For more than a decade, an abandoned piece of a Japanese rocket has been speeding uncontrolled around Earth, at risk of colliding with active satellites and causing havoc in orbit. Now a Tokyo-based startup run by a veteran of McKinsey & Co. and Japan’s Ministry of Finance is sending a spacecraft to inspect the debris, … Read more
Abilio Diniz, the acclaimed Brazilian business leader who grew his family retail business into a giant, lost control of it, then became a major shareholder in a rival company, has died. He was 87. Diniz died at a hospital in Sao Paulo, where he was being treated for respiratory failure caused by pneumonia, a spokesperson … Read more
Three finance professors have ruffled the feathers of one of Wall Street’s most vocal hedge fund managers with a new paper. “Beyond the Status Quo: A Critical Assessment of Lifecycle Investment Advice” estimates that “Americans could realize trillions of dollars in welfare gains” by adopting an “all-equity strategy” for their retirement savings. It’s a serious … Read more
The phenomenon of the “snowbird” is well known: someone with the means to move between two properties, New York City and Miami being the classic example, just in time to miss the cold weather as Gotham gets gross and stormy. But Jeff Bezos and other ultrawealthy millionaires and billionaires are creating a new breed of … Read more
Pershing Square’s Bill Ackman folded on his short bet against Herbalife Ltd nearly six years ago but he’s calling Thursday’s record tumble a win. The stock of the weight-loss shakes and vitamins seller plunged 32% to a 14-year low, after a quarterly earnings report that fell short of analyst expectations. In the last six months, … Read more