The Internet of smart things—smart plates, cups, forks, frying pans—is incontrovertibly in a bubble, writes Christopher Mims. And a shakeout will likely leave few standing.
Citic Securities, China’s biggest brokerage firm, launched its global investment-banking platform, combining its bankers with those from CLSA, the Asian firm it acquired two years ago.
Cisco named Chuck Robbins as its next chief executive, effective July 26, replacing John Chambers, who will become executive chairman and continue to serve as chairman.
Bank of America said it will give shareholders the chance to vote on the board’s decision in October to give the chairmanship to CEO Brian Moynihan.
U.S. stocks were poised for a slightly higher open Monday, boosted by gains in European and Chinese shares.
Private equity firm KKR & Co. is selling down Hong Kong-listed equipment leasing company Far East Horizon shares to raise around US$200 million in a share placement.
Goldman Sachs is trying to sell at a loss coal mines it owns in Colombia, which would end its involvement in raw-materials production.
Comcast, following failed Time Warner Cable deal, reported better-than-expected profit and revenue, as its broadband division logged its strongest growth in years.
Chinese oil-industry officials and government advisers are pushing back against a proposal that could combine China’s energy companies.