Silicon Valley’s cool kids are turning into squares: Gadfly

The numbers now coming out of Silicon Valley show the cool kids are nervous. Venture capitalists and the start-up founders they back are the cool kids of the global economy. They dream big, move fast and break things, and disrupt old-school companies in their path. Yet the numbers now coming out of Silicon Valley show the cool kids are nervous. Although funds such as Andreessen Horowitz and Greylock Partners are raising money at a clip not seen since the dotcom era, they’re deploying less of it. Capital going into start-ups globally has fallen for the last four quarters to reach $24.1 billion in the third quarter, a level not seen since two years ago, according to a KPMG and CB Insights report released Thursday…

These fund managers target the real driver of real estate success If interest rates are going up because there is a credit crisis, that’s bad news for real estate. If rates are rising because of inflation, that’s generally a good thing for real estate because it’s a hard asset. And if interest rates climb because the economy is strengthening, and that results in job growth, once again, real estate should benefit. “We have an improving outlook for the U.S. economy and president-elect Trump is completely focused on jobs, so people are speculating employment growth is going to continue to be strong in the U.S.,” said Jeff Olin, chief executive at Vision Capital Corp. “It may be that his policies are going to be inflationary, but ironically, these are very positive things for real estate...

Tata group fields former honchos FC Kohli, Muthuraman to counter Mistry’s allegations There seems to be no let up in the ongoing corporate tussle between Ratan Tata and Cyrus Mistry. A day after Mistry, who was sacked as Tata Sons chairman, sent a missive saying Tata had in 1990s planned to sell TCS, the Tata camp has rebuked the charges. TCS is the group's most profitable company. In order to prove Mistry's charges wrong, the Tatas have roped in retired bosses, including the 92-year-old former chief executive and deputy chairman of Tata Consultancy Services F C Kohli. Kohli refuted Mistry's charges that Tata was seeking to sell TCS to IBM, its joint venture partner in 1991-92. Cyrus Mistry (L) and Ratan Tata “Cyrus Mistry’s comments regarding the sale of TCS to IBM at some ‘unspecified point in time’ are ...

Tourists struggling to find cash in India Image copyright Reuters Tourists in India have been telling the BBC about problems they are facing after India made a big change to its currency system. On Tuesday night, 500 (£6) and 1,000 rupee (£12) notes were removed from public circulation as part of a crackdown on corruption and illegal cash holdings.This has led to millions queuing up outside banks across India to exchange their old notes for new 500 and 2,000 rupee (£24) ones and machines running out of cash.Here are some of the stories from holidaymakers caught up in the situation.Varsha "This is India's Brexit and Trump rolled into one" Image copyright Varsha "I have been in Goa since Diwali and took out 30,000 rupees (£356) - in three sets of 10,000 rupees (£118)...

Asia shares at one-month peak, bonds bet on ECB support Asian shares hopped higher on Thursday after Wall Street strode to new records and bonds rallied on wagers the European Central Bank would extend its asset buying campaign at a policy meeting later in the session.MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.8 percent to a one-month top, while Australia jumped 1.3 percent helped by rising resource prices.Japan's Nikkei put on 1 percent, brushing off a disappointing downward revision to economic growth for the third quarter.Sentiment also seemed little troubled after Moody's changed its outlook on Italy to negative, warning it may downgrade the credit rating if the country's deteriorating economic and debt outlook was not reversed.The euro took the news relatively well, easing just a touch to $1.0756, from a top...

Nirmala Sitharaman to discuss impact of demonetisation with exporters Expressing concerns on the development, Council of Leather Exports (CLE) Chairman Rafeeq Ahmed said the move to put limitations on cash withdrawal is impacting the working capital of exporters. (PTI) Commerce and Industry Minister Nirmala Sitharaman has called a meeting of export promotion councils and other sector representatives tomorrow to discuss the impact of demonetisation. “All the issues pertaining to exports and impact of demonetisation are likely to be discussed,” an official said. The government on November 8 announced demonetisation of Rs 500 and Rs 1,000 notes from mid-night and replace them with new Rs 500 and Rs 2,000 notes. The move created shortage of currency which led to hardship for people. Expressing concerns on the development, Council of Leather Exports (CLE) Chairman Rafeeq Ahmed said the move to put...

Carrier gets $7M in tax breaks to stay in the US Indiana will give United Technologies $7 million in tax breaks to keep 1,000 jobs at its Carrier plant there — but the company actually agreed to the deal because “we had an election” and the corporate giant was wary of losing federal contracts, according to a state official. John Mutz, a Republican and ex-lieutenant governor who sits on Indiana’s Economic Development Corp., said Carrier had turned down similar offers from the state before Election Day. “This deal is no different than other deals that we put together at the IEDC to retain jobs, but the fact is that the difference is that United Technologies depends on the federal government for lots of business,” Mutz told Politico. “The major factor that’s changed is we had an election,...

‘All good things for the banks’: Trump bets fuel Dow to an all-time high, U.S. ... U.S. banking sector shares on Thursday surged to levels not seen since the midst of the 2008 financial crisis, pushing the Dow to an all-time high, while technology shares sank as Wall Street rearranged its bets to benefit from Donald Trump’s presidency. The SP 500 financial sector surged 3.70 per cent to its highest since the 2008 financial crisis, bringing its gain since Trump’s surprise victory in Tuesday’s election to 7.9 per cent, its biggest two-day gain since 2011. Shares of Wells Fargo Co jumped 7.58 per cent to their highest since January, and have now erased all of the losses incurred in the wake of a scandal over fake accounts opened by its employees. Bank of America surged 4.40 per cent and JPMorgan Chase rallied 4.64 per cent to a record high...