Peter Thal Larsen
Peter is Asia Editor of Reuters Breakingviews, based in Hong Kong. He oversees coverage of financial services and regulation. Prior to joining Reuters, Peter spent 10 years at the Financial Times. From 2004 to 2009 he was the FT’s banking editor, leading the paper’s award-winning coverage of global banking during the credit crunch. Between 2000 and 2004 Peter reported for the FT from New York. He played a leading role in the paper’s coverage of the 9/11 attacks and their aftermath. A Dutch national, Peter has degrees from Bristol University and the London School of Economics. Follow Peter on Twitter @Peter_TL
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The Nikkei’s 7 pct drop is an overdue correction: the index had risen by two-thirds in six months. What’s striking is that the selloff was sparked by concerns over U.S. interest rates and Chinese growth, not Abenomics. Being a haven for risk-hungry investors has its drawbacks.
DBS can buy 40 percent of local lender Danamon, says Indonesia’s central bank, but no more. That’s of little use to the Singaporean bank, which is seeking control, or to the sovereign wealth fund which has stakes in both groups. Only political intervention can break the deadlock.
The U.S. hedge fund manager wants the Japanese electronics giant to spin off its entertainment arm. Activists rarely prevail in Japan. But Loeb’s idea may have merit. In the spirit of the country’s economic renaissance, Sony should take him, and other shareholders, seriously.
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