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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Merging CIMB with two smaller rivals would create a lender with $188 billion in assets. Bulking up to cut costs at home and compete abroad could make sense. But Malaysia’s rapid loan growth will ease as rates rise. The “mega Islamic bank” may be pursuing scale for its own sake.
Many books about China strive for a sweeping overview. Evan Osnos’ “Age of Ambition” adopts a refreshingly human perspective. Despite some inevitable gaps, his close-up portraits of people in the People’s Republic are as revealing as a torrent of statistical superlatives.
State television has accused Bank of China of helping clients move money abroad, prompting chatter of an official backlash. The mainland’s capital controls are famously porous. If Beijing decides to plug the leaks then overseas banks, casinos and real estate markets will suffer.
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