Mexico’s new president will probably keep its secretive billion-dollar oil hedge going

REUTERS/Henry Romero Mexico buys put options from US financial institutions on oil.  A change in government may see that hedge out soon.  Ultimately, it looks as if the hedging strategy will remain in place.  The Mexican oil hedge, or the Hacienda Hedge, is considered the biggest hedging bet on Wall Street as well as perhaps the […]

These are the power players at Trump’s billion-dollar business

Jeff Vinnick/Getty Images Perhaps no business has come under more scrutiny in recent years than President Donald Trump’s namesake company, the Trump Organization. At that company, power is currently vested in the hands of Trump’s two eldest sons and Allen Weisselberg, a senior official at the business. But there are several officials who make up […]

A Magic Leap employee who allegedly stole $1 million is the latest sign of mayhem at the billion-dollar startup

Asa Mathat for Vox Media A police report filed by Magic Leap in October alleges that the company was falsely billed for more than $ 1 million. The report alleges that an outside recruiting firm, which worked with with Magic Leap’s Senior Manager for Talent Acquisition, collected fees for 39 hires it had no involvement […]

NHL at 100: Humble beginnings to billion-dollar business

It was a night of sticky ice, last-minute player signings and a disappointingly small crowd. The glitches that marred the NHL’s debut seem mere footnotes now as the world’s premier hockey league celebrates its 100th anniversary with an outdoor game Saturday evening between the Montreal Canadiens and host Ottawa Senators. Amid the humble beginnings, few […]

The founder of billion-dollar company 23andMe cuts her kids’ hair, teaches them to do laundry, and protects them from the ‘insanity’ of megawealth

Kimberly White/Getty Images for Vanity Fair In a New York Times profile, Silicon Valley royalty Anne Wojcicki talked about her career, her marriage to Google cofounder Sergey Brin, and how she raises her children. The founder of billion-dollar personal genomics company 23andme tries to keep herself and her kids grounded. She says she cuts her kids’ hair, makes them […]

Kansas City Building a New Billion-Dollar Terminal

Kansas City Building a New Billion-Dollar Terminal Advertiser Disclosure The credit card offers that appear on the website are from credit card companies from which receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all […]

Florida’s risky real-estate game is protected by a billion-dollar insurance industry — but that could soon change

REUTERS/Carlos Barria After dodging the worst of Hurricane Irma, Florida’s coastal real estate boom shows no signs of slowing. In Miami and nearby waterfront cities, a survey of local records show that more than 90 luxury high-rise apartment blocks are under construction or have been completed since 2015, increasingly financed by overseas investors looking for […]

The FDA just approved the first direct competitor to a billion-dollar cancer drug (ROG.VX, AMGN)

REUTERS/Karoly Arvai The FDA just approved a version of Avastin, a blockbuster chemotherapy made by Genentech that brought in $ 6.7 billion in sales in 2016.  The newly approved drug, made by Amgen, will go by the marketed name Mvasi. It’s a type of medication called a “biosimilar.”  Biosimilars are a bit more complicated than your average […]

Here’s what’s next for Hong Kong after its first billion-dollar start-up ‘unicorn’

Alan Levine / Flickr Hong Kong will need to step up development of a sustainable ecosystem for a growing hi-tech start-up community to help foster the city’s next US$ 1 billion “unicorn,” according to industry experts. It would mean plugging the city’s big gaping hole in funding resources to support these entrepreneurs, said Gary Chan Shueng-han, […]