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Sunday, 29 November 2015


Hugo Dixon

Dixon: How the EU could woo the UK

23 November 2015

The British prime minister wants to rework the UK’s relationship with Europe. Once complete, other EU leaders could launch a charm offensive to persuade Britain it is valued and influential, and to vote to stay in the union. Here’s what Merkel, Hollande, Renzi, et al could say.

Edward Chancellor

Chancellor: The illusion of debt-fuelled earnings

18 November 2015

Low borrowing costs enabled acquisitive drugmaker Valeant to ratchet up EPS with leverage. Earlier episodes of financial engineering - like Japan’s zaitech and the 1960s conglomerate boom - came unstuck after rates rose and stocks fell. It won’t be any different this time.

Rob Cox

Cox: Quarterly reporting to get a major rethink

17 November 2015

From BlackRock’s Larry Fink to presidential contender Hillary Clinton, “quarterly capitalism” has become a four-letter word. Big publicly traded asset managers could change habits by abandoning their own three-monthly results. Watch for that in the coming year.

Hugo Dixon

Dixon: Syrian peace process offers hope post-Paris

16 November 2015

After the attacks, outside powers called for a ceasefire followed by a political transition. A big obstacle is that Russia and America don’t agree on what should happen to Assad. But it’s the best chance to end the war, crush Islamic State and solve the refugee crisis.

Rob Cox

Cox: Drought, not just of ideas, challenges Africa

12 November 2015

The sub-Saharan region, once a bright spot for global growth, faces a worrying triple whammy. A lack of rainfall threatens agriculture and hydropower. Low commodity prices are taking a bite. Fold in sliding currencies, and inflation threatens stability and economic prospects. 

Edward Hadas

Hadas: The BRICs are dead. Long live the BRICs!

11 November 2015

Goldman Sachs coined the acronym in the 2000s when Brazil, Russia, India and China promised the greatest economic shift in a century. Now Goldman is closing its flailing BRIC fund. But poor countries are still gaining on rich ones, and their base for growth is getting more solid.

Hugo Dixon

Dixon: Brexit debate should start with trade

09 November 2015

The chances of the UK voting to quit the European Union are high. The damage to business if it does leave would be high too. Trade ties, and the difficulty of replacing them from outside the EU, should be front and centre of the debate.

Hugo Dixon

Dixon: Tsipras' biggest stress tests yet to come

02 November 2015

A central bank verdict that the top Greek lenders must raise only 14.4 billion euros is welcome news for the prime minister. But he has to implement more tough measures before he can secure debt relief from his euro zone creditors. Until then, he faces political risks.

Hugo Dixon

Dixon: EU membership can help UK stability

26 October 2015

Bank of England Governor Mark Carney has argued that EU membership is good for Britain’s dynamism but creates challenges for financial stability. While he is right, it also presents opportunities to make the economy steadier. If the UK grasps these, the EU can act as a shock absorber.

Edward Hadas

Hadas: The world would be better off without debt

22 October 2015

Why do governments borrow instead of just creating money? Mostly because they always have. Why do companies feel the need to take on leverage? Foolish tradition. If the financial world were designed for today’s economy, fixed-rate reimbursable debt wouldn’t be created.