Amidst a steady increase in subprime auto loans, lenders are utilizing new surveillance technologies to mitigate their risk. Finance companies, credit unions, and auto dealers use GPS tracking to monitor borrower’s locations and “kill switches” to remotely disable vehicles. Lenders say these devices allow them to extend loans to more Americans with poor credit as […]
Companies’ Values vs. Trump’s Immigration Ban: Where Is the Line?
In early February, about 130 tech companies including Apple, Facebook, Google and Microsoft, filed an amicus brief in opposition to President Trump’s immigration ban. The ban represents “a significant departure from the principles of fairness and predictability that have governed the immigration system of the United States for more than fifty years” states the amicus […]
Toshiba Chairman Quits Over $3.4 Billion Loss
Toshiba, the Japanese technology conglomerate, has spent the better part of a decade and billions of dollars situating itself as one of the most prominent players in the global nuclear power industry by buying up rivals. Although Toshiba’s growth has been impressive, it has resulted in a financial disaster that appears to be growing worse. […]
U.S. Banks Plan to Use Cellphones as a Substitute for ATM Cards
Major banks like J.P. Morgan Chase, Bank of America, and Wells Fargo all have plans to roll out thousands of ATM machines this year that will be accessible using cellphone technology alone. These new machines give customers the ability to obtain cash or make deposits without the use of a traditional ATM card. Customers who […]
Snap Aims for Valuation of More Than $20 Billion in IPO
Snap Inc., the parent company of Snapchat, is positioned to be one of the biggest initial public offerings in the technology industry in years. The company will have the ticker symbol SNAP and is expected to begin trading early March. Snap has an expected potential value of about $22.2 billion, with its midpoint being close […]
Chinese Conglomerates Diversify by Buying U.S. Investment Firms
As the number of consumers in China continues to grow, some Chinese conglomerates are raking in cash and looking for ways to diversify their businesses. What are they doing with this money? Recently, they have been looking to buy U.S. investment firms. Specifically, Chinese businesses are attracted to firms that practice more passive investment strategies, […]
Founders v. Investors: Snap Inc.’s IPO is the Latest Battle in a Longtime War
Snapchat’s parent company, Snap Inc., will soon have its initial public offering (IPO). Although Snap Inc.’s IPO may seem like a typical startup success story, it differs in important ways that could have a massive market impact.
Pearson Considers Selling its Stake in Penguin Random House
On January 18, 2017, the British multinational Pearson PLC informed its intention to drop its 47% share in Penguin Random House – PRH. This announcement occurs only three years after the biggest merger of publishing companies, which currently is responsible for 25% of the worldwide sale of books.
Rolls-Royce to Pay $817 Million to Resolve Bribery Investigation
Rolls-Royce, the United Kingdom-based manufacturer and distributor of power systems for the aerospace, defense, marine and energy sectors, agreed to pay the United States nearly $170 million as part of an $800 million global resolution of investigations by the United Kingdom Serious Fraud Office (SFO), United States Department of Justice (DOJ) and Brazilian Federal Prosecution Service […]
In a Sale Gone Awry, A Lesson for Other Deal Makers
According to Reuters, GFI Group supported brokerage, trading, and clearing services, and traded technologies to global markets. In 2016, the GFI board sold GFI to CME—a global derivative market focused on trading, clearing, and regulation—even though at the end of the bidding war, CME offered a lower bid of $5.85 per share. Meanwhile, the competing […]