In 1973, economists Fischer Black and Myron Scholes published “The Pricing of Options and Corporate Liabilities,” which was the birth of the modern option pricing model that is still today’s gold standard for valuation. The formula isn’t perfect and has some limitations, but for the most part it’s withstood the test of time.
The United Arab Emirates has snapped up a 49pc stake in one of the UK’s largest wind farms despite soaring costs throwing the industry’s future into doubt.
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