Bling is in the air. On September 9th Apple released its latest iPhone 16 series at an event called “It’s Glowtime”. The name referred to the sheen around Siri, its souped-up voice assistant. But it was just as appropriate for the new colour of its snazziest iPhone 16 Pro model: “desert titanium”—in other words, gold. More
REACTING to a takeover offer is a delicate moment for any company board. For the leadership of Seven & i, the Japanese owner of 7-Eleven, a convenience-store chain, the burden of responsibility is even greater. Its response to what could become the largest ever foreign acquisition of a Japanese firm represents a pivotal moment in the country’s corporate-governance revolution. More
The most important takeover battle in years has reached a crescendo. While campaigning in Pittsburgh at the start of the month Kamala Harris, the Democratic presidential nominee, said that US Steel should be owned and run by Americans, echoing a sentiment expressed earlier in the year by both President Joe Biden and Donald Trump, her Republican rival. The speech provoked the steelmaker—which had agreed to a takeover by Nippon Steel, a Japanese rival, for $15bn—to shoot back. Not only were workers rallying in support of the deal, it said, but the firm would consider lay-offs and moving its headquarters from the city should the takeover fall apart. Mr Biden is expected to block the deal imminently, and US Steel’s share price has plunged (see chart 1). His intervention could mark the end of a pantomime that has busied lawyers, bankers and lobbyists all year. More
BRIAN NICCOL, the square-jawed, blue-eyed boss of Chipotle Mexican Grill, a chain of fast-food restaurants, presents himself as an everyday, all-American family man. His daily routine begins with a 6am wake-up and work-out. He takes his daughter to school. And then he drives ten minutes from his home in Newport Beach, California, to the office. He claims he finishes work by 6pm to walk the dog, make dinner with his wife and turn in early. More
Few companies have gained as much value with as little fanfare as Broadcom has in recent years. Since the end of 2022 the American chipmaker’s market capitalisation has rocketed from around $230bn to more than $700bn. It is now the world’s 11th-most valuable company and its third-most valuable chipmaker, behind only Nvidia, the leader in artificial-intelligence (AI) semiconductors, and TSMC, the biggest manufacturer of them. More
There are worse ways to spend a lazy Saturday than to take a trip to one of IKEA’s giant furniture stores. Young children can be swiftly deposited at Småland, the supervised play area, leaving you to navigate the maze of flat-pack furniture and bric-a-brac at your leisure; you might even stop at the restaurant for a plate of Swedish meatballs. More
Dear SIR/MADAM—You asked for a short cover letter to accompany my application to work in your sales department. I could spend time telling you that your company is the one place I have always wanted to work. My mother tells me that my very first words were Dassault Systèmes/Sequoia Capital/change as needed. I have a tattoo of your logo/founder’s face on my lower back. I have named all of my pets after your various product lines. I am grateful just to be given the opportunity to be rejected by you. But if you do hire me, you won’t just be getting an employee, you’ll be getting a brand evangelist. More
Oil has long lubricated the Gulf’s relationships abroad. That is especially so in Asia, which takes in almost three-quarters of its exports of oil and gas. Cheap energy from the Gulf has helped fuel Asia’s rise as the global centre of manufacturing, and filled the sheikhs’ coffers in return. More
