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☆ The 'Trump dump': The presidential hopeful causes deep stock losses in companies and industries he targets, researchers say
▼ + stars: | 2024-07-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

Trump is sparking steep losses in areas of the market he's targeted, a group of researchers said. Researchers pointed to Trump's many "tantrums" against certain companies and sectors, which sparked sell-offs. AdvertisementThe market is in the midst of another "Trump Dump," a phenomenon where stocks see deep losses when the presidential hopeful targets them, according a group of researchers. Advertisement"As bad as turbulence has been, a second Trump term promises to be even more perilous for the stock market," they added, pointing to the potential consequences of Trump's economic policies. Other economists have criticized Trump's economic agenda.

Persons: Trump, —, Jeffrey Sonnenfeld, Whitney Tilson, Steven Tian —, Davidson, Powell, Donald Trump, Harris, Joseph Stiglitz Organizations: Service, Bloomberg, Taiwan Semiconductor, Nasdaq, Clean Energy, Harley, Delta Airlines, Biden, Trump Locations: Taiwan, Trump's

☆ 2 Yale researchers are pulling back the curtain on Russia's sanctions-stricken economy — and it's landed them on a list of Putin's enemies
▼ + stars: | 2024-05-25 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Read previewJeffrey Sonnenfeld and Steven Tian, two researchers at the Yale School of Management, have been targeted for their views on Russia's economy since the war in Ukraine began. Soaring prices and ailing consumer sentiment have hit key sectors in Russia's economy, and Moscow is paying a huge cost to keep its war machine running. Steven Tian Courtesy of Steven TianAt that time, Tian and Sonnenfeld began noticing cracks forming in Russia's economy. "Putin has no grand strategy other than to hope Trump wins and cuts a favorable deal with Russia," Tian said. Positive forecasts on Russia's economy are based on a lack of visibility, Sonnenfeld and Tian say.

Persons: —, Jeffrey Sonnenfeld, Steven Tian, they've, Vladimir Putin's, Tian, Putin, he'd, Sonnenfeld, I've, Biden, Steven Organizations: Service, Yale School of Management, Business, Yale, IMF, Trump Locations: Ukraine, Moscow, Russia

☆ Op-ed: How activist investors are deactivating with proxy battle losses
▼ + stars: | 2024-05-23 | by ( Jeffrey Sonnenfeld | Steven Tian | ) www.cnbc.com time to read: +7 min

Whether today's activist investors contribute any genuine economic value is open for debate. As this year's proxy season draws to a close, defeat after defeat for activist investors in proxy fights this year – most prominently at Disney and Norfolk Southern – raises the question: Are activist investors increasingly getting de-activated, losing their credibility and power? These self-styled "activist investors" are distinct from the original activists who helped catalyze needed governance reforms two decades back. Many of today's activist investors are a far cry from the original, heroic crusaders for shareholder value who pioneered the activism space decades ago. However, given the failing financial performance of many of today's activist investors, their losing streak in proxy fights and increasing public rejection of their bullying tactics, the credibility and value of activist investors writ large is increasingly imperiled.

Persons: Nelson Peltz's, Ed Garden, Ralph Whitworth, John Biggs of TIAA, John Bogle of, Ira Millstein, Weil, Nell Minow, Bob Monks, Harvard's Stephen Davis, Carl Icahn's, Aubrey McClendon, –, Bill Cohan, Jamie Dimon, Glass Lewis, resoundingly, Mason Morfit's ValueAct, Jeffrey Sonnenfeld, Lester, Steven Tian Organizations: CNBC, Salesforce, Dow Jones, Disney, Norfolk Southern, Relational Investors, John Bogle of Vanguard, Services, Chesapeake, Norfolk, JetBlue, Elanco, of Institutional Investors, United Shareholders Association, Responsibility Research, ISS, Lester Crown, Management, Yale University, Yale's, Institute Locations: Norfolk Southern, greenmailers, America

☆ Russia could turn on Putin as the nation's economic strength wanes and sanctions keep tightening, economists say
▼ + stars: | 2024-03-31 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +6 min

Russia's economic strength is likely to wane this year, economists say. Putin's economic fantasyThe tailspin Sonnenfeld, Tian, and Guriev are predicting seems contradictory to what Russia is presenting on the surface. Russian inflation is also high, clocking in at 7.58%, according to data from Russia's economic ministry. Guriev doesn't believe Russia's economy will completely unravel, as central bankers will work hard to limit the damage. Advertisement"It's unlikely the Russian economy will spiral into a macroeconomic meltdown, and that the Russian political system will," he said.

Persons: Putin, Joe Biden, —, Vladimir Putin, Jeffrey Sonnenfeld, Steven Tian, Tian, Trump's, Sergei Guriev, Sonnenfeld, he's, Guriev, Putin's Organizations: Service, Yale, London Business School, Russia Locations: Russia, Ukraine, Russian, Moscow, Soviet

☆ A surge of Russian demand has made China the world's biggest car exporter
▼ + stars: | 2024-01-09 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. This story is available exclusively to Business Insider subscribers. Automakers Geely and Great Wall Motor similarly saw a sharp uptick in car sales to Russia. A combination of soaring prices, weak consumer sentiment, and dwindling supply has sent domestic car sales crashing to roughly a quarter of pre-war times. "Russians are just buying less cars, period," researcher Steven Tian said in an interview with Business Insider at the time.

Persons: —, Geely, BYD, Steven Tian Organizations: Service, Wall, Business, China Passenger Car Association, Chery, Elon Musk's, Yale Locations: Ukraine, Moscow, China, Japan, Russia

☆ Fact-Checking Kremlin's Claim That More Foreign Companies Remain in Russia Than Have Left
▼ + stars: | 2023-12-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +7 min

AdvertisementAfter Russia invaded Ukraine in February 2022, over 1,000 foreign companies announced they would exit Russia in protest against the war. "More foreign companies remain in Russia than those who left the country," Dmitry Peskov, a spokesperson for the Kremlin, told Business Insider in late October. 1: Data from Yale UniversityYale University runs an ongoing study that examines which foreign companies have left Russia since the war began. Here are their results as of November 21:KSE's data shows that most foreign companies have not left Russia. Russia is making it difficult for foreign companies to exitMany companies still operating in Russia are also stuck in the process of exiting the market.

Persons: KSE, —, it's, haven't, Dmitry Peskov, Steven Tian, Tian, Agathe Demarais, Igor Lipsits Organizations: Kremlin, Yale, Service, BI, Yale University Yale University, Kyiv School of, Kyiv School of Economics, University of St, Yale's, Leadership Institute, BP, Benetton, Unilever, Nestlé, European Council, Foreign Relations, Financial Times Locations: Russia, Ukraine, Gallen, Switzerland, Ukrainian, Russian

☆ Alleged Russian crime boss sanctioned by Ukraine owns a major stake in US biotech firm
▼ + stars: | 2023-08-21 | by ( Matt Egan | ) edition.cnn.com time to read: +13 min

Buried in corporate filings is another relationship that is central to Humacyte: Russian billionaire Gavril Yushvaev is the company’s second-largest individual shareholder. Humacyte: Russian billionaire has no ‘control’ over firmYushvaev has not been sanctioned by the US government. “There are patients walking today on their own limbs who would not be doing so without access to the HAV to repair their damaged arteries,” a Humacyte spokesperson said. ‘It shows poor judgment’Yushvaev was brought in as an accredited private investor by Credit Suisse’s capital markets advisory group, a Humacyte spokesperson told CNN. Dougan does not personally know Yushvaev, a Humacyte spokesperson told CNN.

Persons: — Weeks, Kathleen Sebelius, Gavril Yushvaev, Yushvaev –, ”, Yushvaev, ” Forbes, Dann, Charles Whitehead, That’s, Steven Tian, Putin, Vladimir Putin, Trump, Sebelius, Humacyte, Obama, ” Yushvaev, Yale’s Tian, Whitehead, “, ” It’s, Brady Dougan, Dougan, Laura Niklason, ’ Yushvaev, Jeff Sonnenfeld, Sonnenfeld, ” Humacyte, Lawrence Ward, Ward, Eleanor Bloxham, ” Bloxham, ’, Lyft, Mother Jones Organizations: New York CNN, Pentagon, Nasdaq, US Department of Defense, CNN, Securities and Exchange Commission, Ukraine, Pepsico, Cornell Law School, BlackRock, Vanguard, Yale School of Management’s, Institute, Treasury Department, Kremlin, Credit, Ayabudge, Credit Suisse, Humacyte, PTC, Yale, Yushvaev, SEC, “, Soviet, US Treasury, Dorsey, Whitney’s, Value Alliance, The Department of Defense, DOD, Cornell, Russia Locations: Ukraine, North Carolina, Humacyte, Russian, Russia, Crimea, Cypriot, Yale, Bloxham, Lyft

☆ The resilience of Russia's stock market and its economy is a complete mirage masking deeper pain, Yale researchers say
▼ + stars: | 2023-08-20 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

The functioning of Russia's stock market is an illusion, two Yale researchers told Insider. That apparently stellar performance of the Russian stock market this year is ultimately an illusion meant to mask deepening pain in the country's economy. It's a move that was intended to prop up Russia's stock market, the researchers said. "The Russian stock market performance is very misleading, It is a Roach Motel of assets," Sonnenfeld told Insider. Other experts have warned of more pain for Russia's economy as its costly war in Ukraine drags on.

Persons: Vladimir Putin, Jeffrey Sonnenfeld, Steven Tian, Ukraine haven't, that's, Tian, Sonnenfeld, Putin Organizations: Yale, Investments, Service, Yale School of Management, Putin, Levada Locations: Wall, Silicon, Moscow, Russia, Ukraine, Poland, Baltic, Russian, Armenia, Georgia, Kyrgyzstan

☆ Russia's economy has gone from bad to worse in a matter of months. Here's where the country is feeling pain the most.
▼ + stars: | 2023-07-16 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +4 min

Russia's economy is going from bad to worse as Western sanctions hammer the country's key sectors. From plunging car sales to a dramatic collapse in its current-account surplus, there's no way to hide Moscow's troubles. Some have even blamed Russian President Vladimir Putin for inflicting so much pain on the nation, with Yale researchers saying he's "cannibalizing" Russia's economy in his urge to conquer Ukraine. Insider's Phil Rosen reported that car sales in Moscow have tanked by nearly 75% since the Ukraine war broke out. Plunging exportsAnother sign that Russia's economy is flailing is the dramatic collapse in its current-account balance.

Persons: Vladimir Putin, he's, Putin, Jeffrey Sonnenfeld, Steven Tian, Insider's Phil Rosen, Tian, Konstantin Sonin, Wagner Organizations: Service, Yale, Energy, Russia's Finance Ministry, University of Chicago Locations: Russia, Wall, Silicon, Ukraine, Russian, Moscow

☆ Russia is egging Southeast Asian countries to ditch the dollar to get around Western sanctions — and it shows just how desperately it wants to save its flagging economy
▼ + stars: | 2023-07-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

Russia's foreign minister urged Southeast Asian countries to trade with Russia using local currencies. urged Southeast Asian countries to trade with Russia using local currencies. Even President Vladimir Putin championed the use of local currencies for trade in recent weeks. Russia's trade with Southeast Asia fell 4.4% in 2022 amid sweeping sanctions against Moscow. Russia's trade with the Association of Southeast Asian Nations — a 10-country intergovernmental bloc — fell by 4.4% in 2022 from a year ago.

Persons: Vladimir Putin, it's, Sergey Lavrov, Jeffrey Sonnenfeld, Steven Tian, Phil Rosen, Lavrov, Kompas Organizations: Moscow, Service, Association of Southeast, Yale, Russia, Bank of International Locations: Russia, Southeast Asia, Wall, Silicon, Moscow, Indonesia, Nations, Ukraine, Russian, Indonesian, Europe

☆ Heineken, Unilever and Oreo maker Mondelez accused of breaking promises to leave Russia
▼ + stars: | 2023-07-10 | by ( Matt Egan | ) edition.cnn.com time to read: +9 min

It’s shameful and unethical.”Sonnenfeld, who has testified before Congress about companies leaving Russia, is not accusing these corporations of breaking the law. ‘Implied endorsement of the Putin regime’The “poster child” for this problem is the popular Dutch brewing giant Heineken, Sonnenfeld said. In March 2022, just one month after the invasion of Ukraine, Heineken won praise for promising to leave Russia. “We expect a significant financial loss to the Heineken company. The Yale research said Mondelez shows “no tangible signs of progress towards exiting” and continues to do business in Russia.

Persons: Vladimir Putin, Jeff Sonnenfeld, Philip Morris, ” Sonnenfeld, “, ”, ‘, Putin, Sonnenfeld, Steven Tian, ExxonMobil –, ” Heineken, ” Mondelez, Mondelez, That’s, Lipton, Mark Dixon, Nestle, Kit Kat, Purina, Sbarro, Carl’s Jr, Carl’s, Yale, Tim Calkins, Calkins Organizations: New York CNN Business, Yale, Heineken, Unilever, CNN, ”, Institute . Yale, BP, ExxonMobil, Nabisco, Kyiv School of Economics, Agency, Nestle, WeWork, Mondelez, McDonald’s, Starbucks, Restaurants Holdings, CKE, Northwestern University’s Kellogg School of Management Locations: Russia, Ukraine, Moscow, Russian, ”, American, South Africa

☆ Wharton professor Jeremy Siegel blames the Fed for SVB's collapse - and warns of more failures and a painful recession
▼ + stars: | 2023-03-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

The Fed's inflation fight was a key factor in Silicon Valley Bank's collapse, Jeremy Siegel said. Siegel flagged the growing risk of recession if the Fed keeps raising rates. Higher rates increase borrowing costs and encourage saving over spending, which typically pulls down asset prices, saps demand, and increases the risk of a recession. One of SVB's key mistakes was investing its deposits in long-duration bonds, which plunged in price as interest rates rose. They warned that if the US central bank hikes rates by 50 basis points in March, that would increase the risk of more SVB-type implosions.

☆ ‘Absolutely idiotic’. SVB insider says employees are angry with CEO
▼ + stars: | 2023-03-13 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

“That was absolutely idiotic,” the employee, who works on the asset management side of Silicon Valley Bank, told CNN in an interview. By the close of business that day, Silicon Valley Bank had a negative cash balance of about $958 million. “People are just shocked at how stupid the CEO is,” the Silicon Valley Bank insider said. “There should be no mistaking that Silicon Valley Bank’s collapse was a direct result of the Fed’s persistent and excessive interest rate hikes,” they wrote. Of course, Silicon Valley Bank had more than a year to prepare for both of those issues.

☆ IMF chief: Ukraine war will have ‘devastating’ consequences for Russia’s economy
▼ + stars: | 2023-03-08 | by ( Julia Horowitz | ) edition.cnn.com time to read: +4 min

In January, the IMF projected that Russia’s economy would expand by 0.3% this year and 2.1% the next. Georgieva told CNN that Russia’s economy would suffer over time as workers emigrated and access to technology was cut off, and as sanctions on its vast energy industry took a toll. Yet according to Georgieva, it’s essential policymakers don’t ease up on interest rate hikes prematurely, lest prices soar again. The Fed slowed the pace of rate hikes last month, but Powell indicated in testimony to Congress Tuesday that the central bank may need to turn hawkish again. The Fed “would be prepared to increase the pace of rate hikes” if necessary, he added.

☆ Russia says its economy did better than expected, one year into the Ukraine war. But experts say there's a red flag behind the announcement.
▼ + stars: | 2023-02-23 | by ( Huileng Tan | ) www.businessinsider.com time to read: +4 min

According to Russia's federal statistics service, the country's GDP contracted by 2.1% in 2022. However, Russia stopped publishing some key economic data last year, throwing up a red flag. While this contraction reversed a 5.6% GDP growth in 2021, it did far better than an 8.8% to 12.4% contraction that Russia's economy ministry projected in April 2022. The war in Ukraine triggered heightened concerns over issues related to energy security, particularly about natural gas exports — which Europe was reliant on. The EU's ban on Russian oil imports from December sent countries rushing to load up before the embargo kicked in, which helped prop up Russia's energy coffers.

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