Emerging market currency rescue is a pipe dream 2 Sep 2013 India’s idea of group-selling dollars to prop up emerging market exchange rates would be a tough sell. Participants would be asked to spend their reserves to help others, and probably lose money in the process. The best thing India can do is to revive sputtering growth.
Hugo Dixon: Vodafone deal days back with a twist 2 Sep 2013 The mobile giant still holds the record for the world’s biggest deal – its $203 bln hostile bid for Mannesmann in 2000. It is now on the verge of taking the number three slot by selling its stake in Verizon Wireless for $130 bln. It has been a better seller than buyer.
Emerging consumers may leave West’s shares wanting 2 Sep 2013 Developing economies were losing steam even before some began hiking rates to try to win back market confidence. The shifts will hobble Western companies whose earnings have been turbo-charged by Asian and Latin American consumers living off cheap credit.
China graft purge needs carrot as well as stick 2 Sep 2013 A probe into the head of the state asset regulator suggests even the mighty can’t escape the law. Fear is a powerful tool for fighting high-level corruption. But unless China also cuts opportunities and incentives for graft such cases amount to little more than score-settling.