The reality-TV veteran turned White House contender says Janet Yellen is following the right monetary policy, but he’d replace her because she’s not a Republican. That’s not only a break with decorum. It’s a red flag that a President Trump would meddle in central-banking affairs.
Chris Hohn’s hedge fund has tackled the likes of Japan Tobacco and Coal India. That puts the 61 bln euro German carmaker in some bad company. Yet complaints of excessive pay, weak governance and inefficient operations are not new. Only VW’s controlling owners can force change.
By expanding its $5.3 bln Oyu Tolgoi mine in Mongolia, the miner hopes to ride an upswing in demand. Under-investment in new mines and declining quality could see the market in deficit by 2020. But there’s a risk that copper goes the way of iron ore, into a damaging supply war.
The co-founder of U.S. budget airline Southwest took the glamour out of air travel. But the increased connectivity has had unexpected benefits - like more scientific breakthroughs, a new study shows. Those who seek a British exit from the EU may be giving up more than they know.
Like the character in sitcom “Seinfeld,” Energy Transfer hopes to shake up a sour relationship: the $21 bln takeover of pipeline rival Williams. ETE aims to pay less cash, seeming to force the issue by making itself as unattractive as possible. The stakes are no laughing matter.
The Chinese e-commerce group’s revenue soared 39 pct year on year, faster than volumes of stuff sold on its sites. Alibaba also disclosed losses on its fintech, services and logistics affiliates. Those trends can co-exist, so long as online shopping growth stays sturdy.
The crisis and merger PR firm is unloading 40 pct of itself to a buyout shop. Word leaking out with ugly details about unhappy partners hardly showcases its spin services. A valuation of nearly eight times what the founders paid a decade ago, however, suggests a certain M&A nous.
The U.S. industrial-gas producer is selling specialty chemicals to its German peer for $3.8 bln. A lofty valuation of 16 times last year’s EBITDA helps Air Products cover a tax hit triggered by the sale. To justify the price, Evonik is rustling up meaningful savings of its own.
Rome is to tackle the inefficient Italian bankruptcy system, after a bad debt crisis forced big banks to rescue straggling lenders. Its proposals are radical, but they don’t tackle a pre-existing 320 billion euro pile of dud loans. That may not help the weakest lenders much.
Three whopper gems will be auctioned by Sotheby’s and Christie’s, with one set to fetch $70 million. These hefty price tags give the diamond trade a misleading lustre. Slowing Chinese purchases and a supply glut mean the outlook for more mundane stones is far less dazzling.
The Consumer Financial Protection Bureau is reviving class-action lawsuits as a way to fight unfair fees and other scams. Existing rules often allow only solo cases in arbitration, where lenders get the edge. The masses deserve a better shot at bringing Wall Street to heel.
The $205 bln drug giant’s last two huge acquisition attempts failed. Pfizer could yet try another merger to cut its tax rate, it could enter a potentially heated auction for $10 bln biotech Medivation, or it could split up. Dealmaking success depends on having clearer goals.
Neither Sadiq Khan nor Zac Goldsmith, frontrunners for May 5’s vote, have the tools to fix London’s housing shortage. That’s a national issue. The question for businesses isn’t who runs the capital after Boris Johnson, but whether expansion elsewhere in the UK makes more sense.