Governments worldwide have a long and storied history of directing capital flows to and within private markets to meet public policy objectives. But encouraging private capital is preferable. When generous tax breaks are awarded to wealthy investors and capital commitments are made to subpar fund managers, public accountability requirements and performance targets are rarely met. At the extreme, state capitalism rests control of capital flows with the state. The state chooses the winners, full stop. This is antithetical to the principles of free markets and private enterprise. Yet, Western democracies have adopted a hybrid version of state capitalism since the…
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Image source: Getty Images I’m on the lookout for the best FTSE 250 bargain shares to buy this month, focusing on companies that appear undervalued, according to some — or all — of the following criteria: Based on the above, here are two of my favourite mid-cap stocks in October. Babcock International Group Global defence spending has risen sharply since Russia’s invasion of Ukraine in 2022. As the prospect of Cold War 2.0 grows, fears over Chinese expansion persist, and the Middle East plunges deeper into conflict, arms budgets look set to continue climbing. I don’t think this is reflected…
By Ankur BanerjeeSINGAPORE (Reuters) – Asian stocks got a lift on Thursday from Chinese stocks as China’s central bank kicked off its 500 billion yuan facility to spur capital markets, while the dollar lingered near a two-month high ahead of U.S. inflation data later in the day.The People’s Bank of China (PBOC) said it would start accepting applications from financial institutions to join a newly created funding scheme, a plan it announced on Sept. 24 as part of a series of stimulus measures that drove Chinese stocks higher.China’s blue-chip CSI300 index rose 1.7% in early trading, a day after dropping…
(Reuters) -Amazon said on Wednesday that Apple (NASDAQ:) TV+ will become available on Prime Video later this month in the U.S. for $9.99 per month, in a boost for the iPhone maker which has lagged behind streaming rivals Netflix (NASDAQ:), Disney+ and Prime Video itself. The Apple TV+ streaming service, known for its original series like Ted Lasso, The Morning Show and Severance, has so far differentiated itself in the streaming landscape with a focus on in-house content, a strategy that has helped it garner 72 Emmy Award nominations. Apple TV+, however, is among the streaming platforms with the highest…
BEIJING (Reuters) -Sales of U.S. automaker Tesla (NASDAQ:)’s China-made electric vehicles rose 19.2% in September from a year earlier, data from the China Passenger Car Association (CPCA) showed on Wednesday. Deliveries of China-made Model 3 and Model Y vehicles, which are also exported to various markets including Europe, were up 1.9% from the previous month. Tesla sold more than 72,000 EVs in China’s domestic market, up 66% year-on-year, its best month this year, according to a company statement on Thursday. Chinese rival BYD (SZ:), with its Dynasty and Ocean lineups of EVs and plug-in hybrids, recorded its best month with…
Ratan Tata speaks during an interview.Pradeep Gaur | Mint | Getty Images Tributes from industry leaders, politicians and the public at large poured in for Ratan Tata, the former chairman of India’s Tata Sons, who passed away on Wednesday, aged 86.India’s Prime Minister Narendra Modi in a post on X called Tata “a visionary business leader, a compassionate soul and an extraordinary human being … his contribution went far beyond the boardroom.”Google and Alphabet CEO Sundar Pichai recalled his meeting with Tata where they discussed Google’s self-driving car project.”He leaves an extraordinary business and philanthropic legacy and was instrumental in…
MEXICO CITY (Reuters) – Mexico’s Senate unanimously passed a constitutional reform guaranteeing the country’s minimum wage will be revised annually to at least match inflation. WHY IT’S IMPORTANT Around four in 10 Mexicans earn the minimum wage or less. The reform is meant to cement a floor for annual wage increases, although the previous administration of President Andres Manuel Lopez Obrador backed some of the highest wage increases in decades. His successor, President Claudia Sheinbaum, has promised annual minimum wage increases of about 12%. CONTEXT The reform, which already passed in the lower house, had been proposed by Lopez Obrador…
Palantir’s Shyam Sankar Says AI Is Experiential And If You Pay Consultants To Help You Think About Deployment ‘You’re Just Lighting Money On Fire’Palantir Technologies, Inc. (NYSE:PLTR) shares have been on a tear ever since the company was added to the S&P 500 Index. The stock inflection has followed an inflection in the company’s fundamentals, and on Tuesday the data analytics company’s CTO Shyam Sankar acknowledged that the company is facing a surge in demand.Offering Business Value: “This is a unique moment for Palantir,” said Sankar in an interview with CNBC. The commercial business is seeing tailwinds, the rate of…
By Ankur Banerjee SINGAPORE (Reuters) – Asian stocks got a lift on Thursday from Chinese stocks as China’s central bank kicked off its 500 billion yuan facility to spur capital markets, while the dollar lingered near a two-month high ahead of U.S. inflation data later in the day. The People’s Bank of China (PBOC) said it would start accepting applications from financial institutions to join a newly created funding scheme, a plan it announced on Sept. 24 as part of a series of stimulus measures that drove Chinese stocks higher. China’s blue-chip CSI300 index rose 1.7% in early trading, a…
By Scott Murdoch (Reuters) -Warren Buffett’s Berkshire Hathaway (NYSE:) has raised 281.8 billion yen ($1.9 billion) in a seven-tranche yen-denominated bond deal, according to a term sheet reviewed by Reuters on Thursday. The U.S. investment giant issued bonds with tenors of 3, 5, 7, 10, 20, 28 and 30 years, the term sheet showed. The 3-year tranche was the largest with 155.4 billion yen raised, ahead of the 5-year bond raising 58 billion yen. Longer-dated bonds were added during the transaction and a proposed 15-year tranche was dropped, messages sent from the deal’s bookrunners showed. Final prices for each of…