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DATA-HUNGRY AI MODELS COULD HELP REDDIT VALUATION

21 Apr 2023

The rise of artificial intelligence models like GPT-4 has turned social media
posts into valuable commodities. Twitter paywalled that data last month, and
Reddit plans to follow suit – which could help boost its valuation ahead of a
public market debut.

Chile’s lithium grab puts foreign miners on notice

21 Apr 2023





President Gabriel Boric will force producers of the EV battery metal to be
junior joint-venture partners to the state. Foreign miners expected a tax hike,
and global lithium supplies are diversifying. But Boric’s gambit means copper
players like BHP will wonder if they’re next.



Icahn may fall short in quest of the holy Grail

21 Apr 2023





New rules in proxy contests haven’t helped activists in Disney or Salesforce.
But with a concentrated shareholder base, they may embolden Carl Icahn as he
agitates at Illumina, in the process of buying cancer detector Grail. The
trouble is Icahn is pushing beyond the attainable.



Teck breakup vote is just a battle in Glencore war

21 Apr 2023





The Canadian miner’s carve-up plan will fail if even a minority of investors
vote against it next week. That’s quite possible, and would constitute an
initial win for Glencore’s rival $23.5 bln offer. But the Swiss group would
still face a struggle to get its own deal accepted.



Apollo’s Italy gambling IPO plays it suitably safe

21 Apr 2023





The US buyout fund is finalising a $3 bln listing of Italian betting firm
Lottomatica. That will help slash the company’s debt and fund growth in Europe’s
second-biggest gaming market. But the price discount suggests the IPO market
remains a domain for the cautious and the needy.



Editor's Picks

Rome foot-dragging can help EU kick bad aid habits

Features | 18 Apr 2023

The Italian government is clashing with Brussels over 19 bln euros in pandemic
loans. Missing milestones is bad policy for the biggest recipient of European
aid. But the country’s pushback may have a silver lining if it prompts the bloc
to be more flexible with money.

UK growth hinges on more than a new pension giant

Features | 19 Apr 2023

Low investment holds back Britain’s economy. To help, politicians and bankers
want to consolidate the 2.2 trln pound retirement system into large,
Canadian-style pools buying UK assets. Yet better taxes and planning, and more
foreign money, would yield a happier ending.

Cyberattack risks rise up company agendas

Podcasts | 18 Apr 2023

Digital breaches and data theft were up 40% in 2022. As firms expand their
digital network, the weaknesses criminals exploit will also grow, DXC
Technology’s security expert Mark Hughes told The Exchange podcast. Defending
against attacks will inevitably cost more.

Guest view: Why bank investors have it the hardest

Features | 21 Apr 2023





Lenders were supposed to be boring after 2008. Recent collapses exposed that
vision as a fantasy. Shareholders grapple with high leverage, opacity, erratic
regulators and intangibles like trust. Seemingly low valuations may not be low
enough, argues former analyst Rupak Ghose.



Jho Low could rip scabs off 1MDB wounds

21 Apr 2023





The man at the centre of the sovereign fund scandal could be returned to
Malaysia via a deal with China, a respected journalist says. It’s the final
piece of the puzzle but given what Low knows, it would be a moment of public
cheer and private fear for politicians and bankers.



Japanese online lender is curious beast

21 Apr 2023





Rakuten Bank shares jumped 33% in Tokyo’s largest IPO since 2018. Loans only
account for a third of its balance sheet, the government is its biggest borrower
and it buys lots of assets from its parent. The pop reflects a thin supply of
tech-savvy finance listings.



Investors can discount IMF’s emerging-market gloom

Columns | 21 Apr 2023





The multilateral lender has sounded a now-traditional warning about the
financial distress facing emerging economies. Yet these markets have navigated
rising US interest rates surprisingly well. Deep reforms mean there may be more
good news to come, argues Felix Martin.



Wall Street aces its real-life stress test

Features | 20 Apr 2023





Disaster simulations the Fed imposed on JPMorgan, Morgan Stanley and others
hadn’t gamed out a sharp rise in interest rates. Nonetheless, the mega-banks
have emerged intact, and in many cases better off, from a near-existential
shock. It bodes well for the crises yet to come.



DR Horton plays ‘heads I win, tails I also win’

20 Apr 2023





Rising cost of funding should be bad for homebuilders, but America’s largest
posted stronger than expected earnings. Listings are down 25% from last year as
homeowners want to hold on to their cheap mortgages. With scarce inventory,
builders benefit from both low and high rates.



Capital Calls: P&G, ‘South Park’

21 Apr 2023

Most Popular

Tesla can no longer succeed just on its own terms Capital Calls: AT&T’s magic
number falls short Teck breakup vote is just a battle in Glencore war Wall
Street aces its real-life stress test Jho Low could rip scabs off 1MDB wounds
Failed merger drifts have message in scrap heap

20 Apr 2023

Politicians and policy wonks diverge on economy

Podcasts | 20 Apr 2023

“Super Mario” augurs more media-gaming tie-ups

20 Apr 2023

Aussie central bank prepares to join 21st century

20 Apr 2023

Tesla can no longer succeed just on its own terms

19 Apr 2023

Chinese financiers’ pay cut could cut too deep

20 Apr 2023

Bank chiefs move fluttering interest-rate needle

19 Apr 2023

Big Pharma risks overdosing on M&A

19 Apr 2023

Bolloré sale brings Vivendi endgame a step closer

19 Apr 2023

Man U sale rejig will perturb other soccer sellers

19 Apr 2023

US-China chip spat hangs over TSMC’s recovery

19 Apr 2023

Netflix clears streaming hurdle, by a hair

18 Apr 2023

Goldman has its fingers in the wrong pies

18 Apr 2023

Fox lawsuit costs extend into dealmaking

18 Apr 2023

EU bank crisis plan makes best of bad landscape

18 Apr 2023

Cyberattack risks rise up company agendas

Podcasts | 18 Apr 2023




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