Reducing carbon dioxide emissions and hitting other sustainability goals will cost trillions of dollars. But it should spur growth and jobs and create the higher-yielding, long-term assets investors crave. Policymakers, though, need to follow through on their pledges, too.
An insider’s account provides fresh insights into the origins of China’s most successful entrepreneur. Yet the tale of Ma’s rise reveals little about the inner workings of his e-commerce empire. Outsiders are no closer to disentangling Alibaba’s future from its founder.
More state companies are failing to pay bondholders. This is partly necessity amid an economic slowdown, and partly a useful dose of market discipline. But the withdrawal of government support could spook investors, creating a credit drought.
Companies that strongly back gay and lesbian rights perform better, a Credit Suisse study finds. If only it were so simple. Corporate inclusiveness is a bit like environmental sustainability or tax avoidance. Rules, not just returns, are what make businesses do the right thing.
BP shareholders just blew a raspberry to the oil company’s decision to pay $20 mln to boss Bob Dudley, who oversaw a big loss as the oil price plunged. But is a market downswing exactly when higher rewards are needed? Breakingviews columnists opine.
New leaders in both countries raised hopes for restructuring banks and state-owned companies. But current plans are not bold enough while the window for action is narrowing. Beijing’s investment habit and New Delhi’s obstructive bureaucracy are proving stubbornly hard to shift.
Mega-banks MUFG, SMFG and Mizuho are making new loans abroad faster than they can amass matching deposits. This headache has boosted the cost of swapping funds from yen to dollars, and made regulators in Tokyo wary. Buying smaller U.S. lenders would help reduce the mismatch.
Policymakers are desperate to coax cash into planet-friendly projects to cover the costs of environmental crises and climate change. The latest idea is to label green investments. But the precise benefits are often unclear. Breakingviews offers a guide through the undergrowth.
That’s the message of a new book, “The End of Alchemy”, from the former governor of the Bank of England, Mervyn King. It doesn’t completely wash. Low rates bear much responsibility for seeding the financial crisis - and it was central banks, after all, that set them.
Currency, bond, stock and credit markets reflect investors’ concern that Britain could leave the EU, but the links aren’t simple. Price signals will become purer closer to the June 23 referendum. Before then, interpreting their message requires a bit more care.