Lackluster jobs and GDP estimates hint at a possible bump in the recovery. Contrary to earlier suspicions, however, Americans are spending most of their cheap gas windfall, a JPMorgan think tank reckons. It means the oil price may be an even bigger economic factor than expected.
Apple poached engineers from the electric-car maker. CEO Musk dismissed the threat, saying: “If you don’t make it at Tesla, you go work at Apple.” His ventures are impressive, but Michael Dell and Steve Ballmer, among others, can attest to the perils of underestimating Apple.
The Bud brewer is as close to a hostile bid for SABMiller as possible without formally going directly to shareholders. About half of big, unsolicited, cross-border deals eventually close. The results, however, are often disastrous, as Vodafone, RBS, Mittal and others can attest.
The UK-listed emerging markets lender is to cut a quarter of its 4,000 top people, Reuters reports. Something is definitely needed to improve StanChart’s capital and returns. But this plan will only work if 1,000 high earners aren’t paying their way.
Spain is likely to miss its EU-agreed budget deficit targets this year and the next. Arguably, the bar was set too high and economic growth is quite promising. Even so, Spain can do more to put its finances on a more sustainable path.
Prime Minister Shinzo Abe’s latest cabinet reshuffle has put his “Abenomics” back in the spotlight. Our index shows why he needs to give reform a fresh push. The summer ended with sluggish spending, flat prices and falling wages.
U.S. CEO Michael Horn offered lawmakers a few new tidbits about the carmaker’s emissions scandal and response. He lacked answers to basic questions, though, and the politicians failed to ask tougher ones. Getting to the bottom of the mess requires both sides to kick it up a gear.
An end to the Andean state’s half-century-long war with FARC rebels may cost up to $3 bln a year. Yet income from oil, its biggest export, is likely to fall by a similar amount and the economy is slowing. It poses a dilemma for a government that’s careful with the purse strings.
The Peroni brewer’s promise to find $550 mln of new cost savings by 2020 is paltry in the context of the $100 bln approach from AB InBev. SAB might have more powerful defences in its locker. It had better, if it wants to stay independent from the Budweiser brewer.
The rout in pharma stocks has made the Irish group’s all-share offer less attractive for its recently spun-off U.S. rival. Shire would have to add much more stock to offer Baxalta the $30 bln it initially touted. It should delay – even if it then misses its chance altogether.
After the shock of August’s mini-devaluation, some calm has returned to the currency. Yet restoring stability required hefty central bank intervention and a crackdown on capital outflows. China is still a long way from letting its exchange rate be set by market forces.
The former boss of the $1.5 trln investment firm has sued over his exit last year. He paints former colleagues like Mohamed El-Erian as greedy and duplicitous and argues he’s entitled to more of an expected $250 mln 2014 payout than he received. No one comes out looking good.
The White House hopeful has unveiled a slew of ideas for reining in financial excess. Initiatives like imposing risk fees on big banks and improving hedge fund reporting won’t win many friends in the industry. But they’re manageable blows that Wall Street could roll with.