The Indian currency is surprisingly more stable than the Brazilian real or Turkish lira. That gives the RBI room to cut interest rates and revive growth without having to fret about capital flight. A squeamish central bank could be a bigger risk to the economy than a bold one.
Brazilian lender Itaú has pursued a strategy to create the first truly pan-Latin America financial institution. Its biggest effort to date is at an impasse. The merger it thought it cleverly struck with Chile’s CorpBanca is backfiring in ways that may cost it treasure and face.
Most scenarios facing the country are bleak, but there is one outcome that is not too bad. This will require the prime minister not only to eat his words, but also to call a new election to get a fresh mandate. The timing is tough, but just doable.
The standard measure of output is a useful indicator of short-term trends. It can also help compare levels of development. In poor countries, faster GDP growth is a good policy goal. But in richer countries, GDP-think misses important economic changes and challenges.
Gun safety groups and Snoop Dogg pressured Cerberus to cleave the maker of a notorious assault rifle from its funds. Now Cerberus can get back to work raising money. Social activists need to behave more like their shareholder brethren to have any hope of changing this business.
David Cameron needs to realise this as he builds up to the referendum on the UK’s membership of the EU, which could take place as early as next year. The UK prime minister may get little from set-piece renegotiation of Britain’s EU relationship; reforms are more promising.
Output per hour made sense when paid labour was mostly in fields or factories. But now that work is computer or people-focussed, counts of productivity growth are largely statistical guesses. Policymakers should ignore this chimera and focus on things they can influence.
The untimely death of the CEO of startup SurveyMonkey sparked an unusual outpouring of emotion from Silicon Valley. His age and marital affiliation can only explain part of the response. The worrisome message is that nice guys really are too rare a breed in the tech ecosystem.
It owes around 324 billion euros. The government doesn’t seem to have a credible plan for reaching agreement with its creditors. Nor does it appear to have thought out how to default while containing the collateral damage.
David Cameron’s Conservatives are clear victors. A new coalition with the pro-European Lib Dems isn’t needed. Tory eurosceptics may push the prime minister to take an excessively tough line with the EU in the runup to the referendum he has promised on the UK’s membership.