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Saturday, 22 November 2014

EMEA

London Mayor Boris Johnson delivers his keynote speech to the Conservative Party annual conference in Manchester, northern England October 1, 2013.

Boris should pay up but not shut up over U.S. tax

21 November 2014

The London mayor, an American citizen, objects to paying a U.S. capital gains levy on his UK residence. Uncle Sam’s ex-pat tax laws are worthy of reform. But if Johnson really cares about that, the way to show it is to clear his debt and then campaign for change.

Kate Duguid

Review: Congo's problems run deeper than oil

21 November 2014

Virunga Park sits on top of reserves and between hostile states inhabited by warring militias. A new documentary casts UK oil firm Soco as the park’s top threat. Unethical exploiters are just one symptom of a nation whose institutions are too weak to assure economic stability.

The headquarters of the European Central Bank (ECB) is pictured prior to the bank's monthly news conference in Frankfurt July 3, 2014.

Time for ECB to overhaul its secret weapon

21 November 2014

Leaked central bank correspondence from the recent Cypriot crisis underlines how emergency liquidity assistance to weak banks had become ad hoc and political. Now that the ECB is supervising euro zone banks, it should take over - with ELA risks shared by all member states. 

A security guard is silhouetted in front a Prudential office in London.

Pru’s lesson for investors: trust animal spirits

21 November 2014

The UK insurer’s stock hit a record this week, leaving rival Aviva trailing in its wake. It is a painful reminder of how Aviva lost out by failing in its attempt to buy Pru in 2006. The main reason there was no deal? The bidder lacked investor support to pay a fair premium.

Mario Draghi, President of the European Central Bank (ECB) waits for the start of the European Banking Congress in the Old Opera house in Frankfurt, November 21, 2014.

Draghi's anti-deflation war requires fiscal help

21 November 2014

The ECB president has gone further than ever before by pledging to raise inflation “as fast as possible.” His is a lonely fight and the central bank will soon reach the limits of what it can do. Draghi can only succeed if governments embark on more fiscal stimulus.

Endesa’s 3 bln euro quasi-IPO bucks a tough market

21 November 2014

The second half of 2014 has been rocky for share sales, particularly in Spain. A secondary offering of 22 pct of Spanish utility Endesa succeeded because vendor Enel wasn’t greedy. It treated the deal like a new issue. That will help if Enel wants to sell more in future.

Edward Hadas

Edward Hadas: FX should be the last home for scandal

20 November 2014

Failings in the foreign exchange markets should be surprising, and not only because cheating was hard. But when process-driven clients met the hard-to-repress urge to speculate, tempted traders crossed some ethical lines. The cure? Ensure financial markets make economic sense.

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