Smaller banks that might have wanted to band together are also affected: under the new Basel 3 rules, the bigger they get the more likely they are to attract a steeper capital charge.
Maybe it is also a cost issue right now. The company's trying to lower capital expenditures right now to get the profit lineup, because that was one of the commitments to reduce costs by $5 billion.
However much risk-averse investors may prefer share buy-backs to ambitious capital-spending plans, halting investment could be seen as a flag of surrender by the likes of Amazon.
Certainly, any firm that has CEO transition or has underperformed its peers or has done a bad acquisition or has wasted money and capital expenditures, they are absolutely ripe for an Elliott engagement.
任何经历 CEO 更替、业绩落后于同行、进行过失败的收购,或在资本支出上浪费资金的公司,都极有成 Elliott 的目标。
Investors were left disappointed by Microsoft's earnings, as revenue from its cloud business came in below expectations and it reported a big jump in capital spending.
The giants of the fossil-fuel age, such as Volkswagen and ExxonMobil, are having to shift their investment plans, while clean-energy pioneers are cranking up capital spending fast.