Noticias

Los fondos soberanos de Qatar y Abu Dhabi y un inversor chino podrían estar dispuestos a comprar una participación del 25% en el primer banco alemán, según la publicación Manager Magazin. La filial de Deutsche Bank en España ha vendido una cartera de créditos de 430 millones. Leer

El tipo de interés pagado es del 2,699%, por debajo del 3,493% de una emisión sindicada anterior

La compañía ofrece a las autoridades exigir un registro a quienes alquilen sus casas para que puedan ser controlados

Es la mayor comisión que se embolsa un banco de inversión por asesorar una operación empresarial de estas características, según Financial Times. Leer

La entidad no revela el nombre del comprador, que ha pagado 430 millones

El déficit comercial alcanzó los 10.996,3 millones de euros en los ocho primeros meses del año, el segundo mejor saldo para este periodo desde 1997

PUNDITS, journalists, campaign hands and others spend an awesome amount of time during election season trying to work out what factors will swing the vote one way or another. Could it be a candidate’s likeability? Differences in policy? Her ad strategy? His habit of insulting large swathes of the electorate?

Campaign choices matter, but political science research suggests that the lay of the electoral land is largely shaped by factors beyond candidates’ control. People vote retrospectively, based on their perception of how things are going for them and those around them. But their perceptions are shaped by all sorts of things. As Christopher Achen, of Princeton University, and Larry Bartels, of Vanderbilt University, describe in Democracy for Realists, a book published earlier this year, voters sometimes punish politicians for bad weather, random misfortunes—an outbreak of shark attacks appears to have cost Woodrow Wilson votes in the 1916 election—and the performance of the local American football team.

Perhaps more importantly, voters are extremely myopic. They care about their economic welfare, and especially about whether or not their…Continue reading

Dancausa, consejera delegada, critica la decisión de Economía porque va contra la igualdad de reglas en el mercado

THE most striking battle in modern business pits the techno-optimists against the techno-pessimists. The first group argues that the world is in the middle of a technology-driven renaissance. Tech CEOs compete with each other for superlatives. Business professors say that our only problem will be what to do with the people when the machines become super-intelligent. The pessimists retort that this is froth: a few firms may be doing wonderfully but the economy is stuck. Larry Summers of Harvard University talks about secular stagnation. Tyler Cowen, of George Mason University, says that the American economy has eaten all the low-hanging fruits of modern history and got sick.

Until recently the prize for the most gloom-laden book on the modern economy has gone to Robert Gordon of Northwestern University. In “The Rise and Fall of American Growth”, published in January, Mr Gordon argues that the IT revolution is a minor diversion compared with the inventions that accompanied the second industrial one—electricity, motor cars and aeroplanes—which changed lives profoundly. The current information upheaval, by contrast, is merely altering a narrow range of…Continue reading

IN THE pharma business, Juno Therapeutics, a small firm based in Seattle, is just a stripling. It is three years old, has not a single drug approval to its name but is nonetheless valued at $2.8 billion. That value is derived from the fact that it is on the forefront of the most promising area of cancer treatments in decades: immuno-oncology.

Juno’s edge comes from its attempts to master one of the most important parts of the immune system: the T-cell. It is developing a so-called CAR-T therapy, in which its scientists extract T-cells from a cancer patient, modify them with gene therapy so that they can recognise cancer cells, and then put them back in the patient’s body ready to attack. The process has a reputation for inducing rapid remissions in cancers of the blood for patients who have exhausted all other options.

Small, innovative biotech firms such as Juno are intriguing because nowadays they are the main engine of global drug innovation. Alexis Borisy, a partner in Third Rock Ventures, a venture-capital firm in Boston, notes that pharma companies now buy in three-quarters of their pipelines, and develop only…Continue reading