Search League Tables

Saturday, 30 August 2014


Part of a slogan is pictured on the side of a Tesco supermarket delivery truck in New Malden southwest London June 4, 2014.

Agenda for Tesco CEO: price cuts, board and UK

29 August 2014

There’s a jumbo profit alert, a hacked-back dividend and lower capex. The new chief exec is also bringing forward his start date. Dave Lewis needs to reduce prices, rebuild the board, and launch a strategic review of the international business.

Brazil's President Rousseff gestures as she speaks during a ceremony

Rousseff challenger now owns two Clinton slogans

29 August 2014

Brazil is in recession, making “the economy, stupid” loom large for October’s presidential poll. The sudden rise of Marina Silva’s star makes “change vs. more of the same” a powerful theme, too. Rousseff’s chickens are coming home to roost just in time to threaten her re-election.

A sculpture showing the euro currency sign is seen in front of the ECB headquarters in Frankfurt

Falling euro squeezes Swiss, Swedish central banks

29 August 2014

A lower currency helps the ECB fight disinflation. It’s a curse for Swiss and Swedish central banks, which are running out of traditional ways to stop an unwanted appreciation in their currencies. They may end up having to follow the euro zone into less charted policy waters.

A worker installs rubber onto the windows of the doors along a production line at a truck factory of Anhui Jianghuai Automobile Co. Ltd (JAC Motors) in Hefei, Anhui province May 5, 2014.

Emerging market watchdogs could dent car industry

29 August 2014

Rapid growth gives local regulators in developing markets extra influence. India has fined car companies $421 million and opened the market for spare parts wider than in the West. If Chinese regulators decide to take the same approach, carmakers’ earnings will suffer.

A tourist takes a picture of the statue of Christ the Redeemer ahead of the 2014 World Cup in Rio de Janeiro June 8, 2014.

Vivendi boosts shareholder credentials in GVT sale

28 August 2014

The French media group says it favours Telefonica’s $10 bln bid for its Brazilian mobile unit. Telefonica could pay more, but it’s good that Vivendi has chosen the surest exit for shareholders. As for rival bidder Telecom Italia, it now faces an uncertain future.

Aereo CEO and founder Chet Kanojia speaks at Internet Week in New York May 19, 2014.

TV broadcasters missing big picture in Aereo fight

29 August 2014

CBS, Disney and others oppose the Barry Diller-backed streaming startup’s rebirth as a cable firm. But conceding could put online services and, say, Time Warner Cable on equal legal footing and create more competition for content. That’s a win for viewers and networks alike.

Jack Dorsey, founder of Square and Twitter, speaks on stage during day one of TechCrunch Disrupt SF 2012 event at the San Francisco Design Center Concourse in San Francisco, California September 10, 2012.

Square swipes a hollow-looking $6 bln valuation

28 August 2014

That’s what the payments company may be worth after its latest fundraising. It’s big, but a deflated figure, considering Square’s former hype, the small amount raised, and tech rivals’ ease securing higher valuations. Blame increasing competition for Square’s comparative malaise.

Washington misses trick with rating agency reform

28 August 2014

The SEC has finally approved new rules for judging the riskiness of asset-backed bonds. Some are modestly helpful. But measures like imposing unsolicited ratings on deals would offer more robust changes – and may foster much-needed competition for Fitch, Moody’s and S&P.

Wires connect accumulators to start one of the cars, February 2, 2012.

Risky AA just got riskier

28 August 2014

The chief exec and CFO are quitting the breakdown firm two months after the IPO. It may not be a post-float car crash: the market seems to like the show of decisiveness by the chairman, now de facto CEO. But the timing is troubling, as is AA’s rejection of conventional governance.



Neil Unmack

ECB keeps hoping in ABS field of dreams

29 August 2014

Mario Draghi expects investors to come if he builds a market that he admits barely exists. Purchases of asset-backed securities might help growth and boost inflation. Yet the obstacles are substantial, and regulation is a thorn. Government aid would help.

Edward Hadas

Review: A pained call for radical financial reform

29 August 2014

Financial Times writer Martin Wolf’s new book is partly a cogent review of what went wrong in the 2008 crisis. But the message economists and policymakers should focus on, especially from a centrist intellectual, is that the best ideas for the future are far from the mainstream.

Andy Mukherjee

Global poverty needs a post-industrial definition

29 August 2014

Criticism is mounting against the $1-a-day threshold, a legacy of industrial-age thinking that equated penury with calorie deficiency. That’s too narrow. Being unable to afford education, medication or old-age security counts as deprivation. So does exclusion from modern jobs.


Edward Hadas

Edward Hadas: Central bankers' reward for failure

28 August 2014

The supervisors who gathered last weekend in Wyoming were seen as saviours, or as possible destroyers, of a fragile financial system. That elevated status is an undeserved prize. As Keynes noted, economists are more like dentists. But central bankers lack the dentist’s toolkit.