KFC’s parent and McDonald’s have been tainted by stale meat that slipped through a supplier’s controls. Monitoring a rapidly growing business is tough, and global brands face a high bar – just ask JPMorgan or Glaxo. Being foreign and successful is fast becoming a health risk.
Acquiring the U.S. conglomerate’s white-goods division would be a Lenovo-IBM moment for KKR-backed Qingdao Haier. The purchase, at up to $2.5 bln, would give the Chinese refrigerator-to-dryer maker a trusted Western brand that widens its appeal and helps expand global scale.
The 48 percent growth in China iPhone sales in the last quarter-year is strong. But seen from the Middle Kingdom, Apple vies with large rivals U.S. consumers have barely heard of, like Xiaomi and Coolpad. As they gain share too, Apple will struggle to be more than an also-ran.
Andrea Bonomi’s Investindustrial is offering 790 mln euros for the all-inclusive holiday group. This may not be a five-star price but it blows a rival Franco-Chinese bid out of the water. And investors have spent years in the wilderness. This is an offer the board can recommend.
Has the global growth rate slowed? The debate is hot and not very illuminating. Reported numbers prove nothing and historical analysis is often confused. As more material desires are met, there is less room for big leaps forward. But don’t write off the human imagination.
The president-elect’s wide victory margin, and lack of ties to the old regime, give him credibility. If he reins in nationalism and makes Indonesia a better place to do business, the country can make better use of its natural advantages: resource riches and a young workforce.
Lenders’ $3 trln holdings of public debt are not falling fast enough. That could be problematic for the prime minister. Once monetary stimulus dries up, banks may rattle the financial system by turning panic sellers. Bank of Japan minutes show Shinzo Abe’s team knows the risks.