Private Jets Aren’t So Private Anymore: It’s no secret that executives around the world by private plane in order to manage their corporate affairs, but certain financial firms are paying close attention to their comings and goings. According to Bloomberg, hedge funds are actually tracking private jets to find out what the possible next deal or merger might arise before it is announced.
This new level of transparency has caused some to believe flying there’s no such thing as flying “privately” anymore and raised concerns for business executives responsible for closing M&A deals.
WeWork May Be Offering Debt: There are plenty of startups that have been buzzworthy over the past several years, and many of them aren’t even profitable. The two ridesharing giants, Uber and Lyft, have both gone public this year, even if they haven’t met many investor expectations with respect to share price. WeWork apparently is looking to inspire investor confidence through a debt offering as it examines whether it should go public, and when, writes Reuters.
Utah Wants Fintech Innovation: Utah lawmakers have now passed legislation that allows fintech companies to test out financial services or products that might otherwise require a license, according to Desert News. Utah certainly isn’t alone with respect to allowing for a regulatory “sandbox”. Arizona was the first state to pass a fintech regulatory sandbox, and similar initiatives have been undertaken in countries such as Australia, the United Arab Emirates, and the UK.
BMW’s Boss Loss: There are few car companies as well-respected as BMW, but just because a company is well-respected doesn’t mean that it will always thrive. Case in point: BMW CEO Harold Kreuger is stepping down, according to the Economist. The luxury automaker has had a troubled quarter, partially due to the fact that it was fined 1.4 billion euros in an anti-trust case. Some have speculated Kreuger’s departure is due to the rise of Tesla, which has been aggressive in cornering the electric vehicle market.