Banks that lent $13bn to Elon Musk to buy X/Twitter will hear from the new CEO next week, where she'll lay out her business plan. It's a critical meeting - the banks hope it will lay a path so they can one day sell that debt. w/ @OrtencaAl @MsHannahMurphy
Eric Platt
14.6K posts
US investment editor at the Financial Times. Sometimes fashion critic. Views my own. [email protected]
- Breaking: David Hockney sets a new record for a painting sold by a living artist. His work “Painting of an Artist (Pool with Two Figures)” sells for $90.3m, including fees paid to Christie’s, on Thursday night
- Some personal news: I've taken over as US markets editor at the @FinancialTimes, working alongside the great @JARennison, @colbyLsmith and @richhend in New York. Have thoughts on what's driving financial markets? Email me at [email protected]
- Disney now going a step further, closing Disney World in Florida, Disneyland Paris, and halting new Disney cruises ft.com/content/a08636…
- This is one important line: If the company is unable to raise new financing before the end of November, the people said it could face something that executives within WeWork never thought was an option just weeks ago: bankruptcy.
- Investors turned to equity put options to hedge against a further slide in US stocks, with a record number of put contracts purchased on Friday (more than 32 million) ft.com/content/03555a…
- Berkshire in 2019 suffered its worst year in a decade compared to the benchmark S&P 500. Part of the problem: the drag of its record $128bn cash pile ft.com/content/9da478…
- Asset managers have dumped 10-year Treasury futures and are now the most short they've been in more than 5 years ft.com/content/7ed47d…
- The suicide of Alex Kearns — who thought he had lost heavily on Robinhood — has triggered calls for reform of online brokerages. “The more I dug into it, the angrier I got,” Bill Brewster, Kearns's cousin, told the FT. @RobinWigg, @richhend and I report:
- Breaking: SoftBank, the biggest outside shareholder in WeWork, is urging the lossmaking property group to shelve its hotly anticipated IPO after it received a cool reception from investors. Exclusive w/ @JFK_America
- And then there's this - nearly 400 million Facebook users only access the network on mobile
- Kodak shares have surged 1,481% this week in heavy trading. Just how much trading? This chart captures it well. The other interesting note, the first uptick in shares happened before the $765m loan from the Trump administration was officially announced ft.com/content/4f36c6…
- The most important line in the Peloton IPO (PRAYING GOLDMAN KNEW THEY WERE SLIPPING IN A LEGALLY BLONDE QUOTE IN THE S-1): “It is no secret that exercise makes us feel good. It’s simple science: exercising creates endorphins and endorphins make us happy." ft.com/content/562f4b…
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