Baron’s investment firm, with $39.9 billion in assets under management, holds more than 7.3 million Tesla shares.
Tesla will become a $2 trillion company, says billionaire Tesla shareholder Ron Baron
‘Hi, Speed:’ Apple walks the tightrope of embracing 5G
A few hours after this newsletter hits your in-box, Apple will host an online product event at which it is widely expected to unveil the 20th iteration of its iconic smartphone.
The tech giant announced the event last week on its website. Apple executives, ever the masters of savvy marketing, won’t reveal what they plan to unveil. But a steady drip of leaks and supplier reports have stoked anticipation among Apple fans and industry analysts.
If the rumor mill is right, Apple will introduce a new generation of iPhones that includes four new versions, with faster processing chips, a boxier design, larger and smaller size options than those offered for the iPhone 11, and jazzy new colors options.
But what’s grabbing the biggest headlines is speculation that the new iPhone will come equipped with 5G—fifth generation wireless technology that, at least in theory, will operate at speeds of ten or … Read the rest
AMC could run out of cash by the end of 2020, company warns
AMC, the largest cinema chain in the U.S., is in danger of running out of cash by the end of the year or by early 2021.
Is BP really going “beyond petroleum” this time around?
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Reinvention is the holy grail of business, both for tech companies trying to bend the arc of the universe and old-line companies desperately attempting to stave off oblivion. Two long years ago, Fortune hosted a conference in Chicago that spotlighted stories of reinvention, realized and aspirational. Some of the companies featured were unambiguous successes and have become more so since: New York Times Co., Microsoft, Slack. More, in retrospect, were putting on a brave face and have slid further: IBM, Wells Fargo, Ford, AT&T, WW International.
Obstacles aside, reinvention is an imperative, for companies and individuals. The world doesn’t stand still. The pandemic has cruelly made this clearer than ever.
Fortune senior editor Beth Kowitt and I have … Read the rest
Dow rises more than 100 points to start the week as stimulus talks continue, Apple leads
U.S. stocks rose on Monday as investors monitored stimulus negotiations in Washington and prepared for a busy week of corporate earnings.
How the finance industry can combat racism
“I’m going to tell them there’s an African American man threatening my life.” – Amy Cooper
“I’m a tenant of the building; are you?” – Tom Austin
Amid the unrest, anger, and outrage at the sheer injustice of systemic racism, Amy Cooper and Tom Austin are just two examples of white people using their privilege in an attempt to control Black people who dared to exert personal agency in shared spaces. After being called out publicly, Cooper lost her job, and Austin lost his office lease.
Why point out these incidents instead of the thousands of other examples? Because while both apologized and stated “I’m not a racist,” they had tremendous influence in the finance industry through their leadership positions.
There are real questions as to how these implicit biases influenced hiring, advancement, and access to capital at their firms. Their actions in these moments provide a spotlight on how … Read the rest
Big-box retailers like Walmart, Target try to beat Amazon on speed by focusing on curbside pickup
The big-box retailers like Walmart and Target will try to win on Amazon Prime Day by fulfilling online orders quickly through curbside and in-store pickup.
Women executives say the pandemic is exacerbating gender bias
This year is hard on working women. They’re losing their jobs and leaving the workforce at higher rates than men. Not to mention school closures are disproportionately creating more work for mothers.
So how are women at the top doing? How do they see the pandemic changing their work?
To find out, Fortune surveyed a group of more than 600 women leaders in our Most Powerful Women (MPW) community. In all, we received 112 responses in September. Among those, 88% work on at least one corporate or nonprofit board and 30% are CEOs.
Among the women executives surveyed by Fortune, 66% say the pandemic is exacerbating gender bias.
The pandemic is resulting in more childcare work for employed parents—and much of that is falling to mothers. But 57% of women leaders told Fortune that their company is not offering additional child-care resources or paid leave. On the flip … Read the rest
Cramer's week ahead: Too much complacency about a stimulus deal
CNBC’s Jim Cramer on Friday continued to recommend that investors put money into stocks of companies that can grow without additional fiscal help.
Sheryl Sandberg: Companies can’t risk losing their best women leaders
Good morning, Broadsheet readers! Two women are the finalists to head the World Trade Organization, we get ready to welcome special guests to Fortune’s MPW Next Gen Summit, and Sheryl Sandberg sounds the alarm on the importance of retaining corporate America’s best leaders. Have a restful weekend.
– Senior-level crisis. Earlier this week, the Broadsheet covered the astounding number of women leaving the workforce: 865,000 in September alone.
That crisis is just the tip of the iceberg for corporate America, write Lean In cofounders Sheryl Sandberg and Rachel Thomas in a new op-ed for Fortune. Businesses risk losing their top female leaders—the senior most women at their companies—as a result of the coronavirus pandemic.
“Senior-level women—tough, tested, ambitious leaders—are being pushed to their limits and beyond,” write Sandberg and Thomas. “This is a real problem for companies because these leaders are too important to lose.”
Like many working … Read the rest