Holding: Facts may spoil board-elections brawl 1 Nov 2017 Shareholder advocates say subjecting all directors to annual votes keeps firms fit, while critics like lawyer Marty Lipton argue it rewards costly short-term moves. Now a compelling study pokes holes in both views. It’s welcome progress in a testy but needed governance debate.
BT’s dividend signal faces interference 1 Nov 2017 The British telco has pledged to keep lifting payouts to shareholders despite the burden of pension payments, rising capex and sports rights. Dividends could suck up almost all its free cash over the next three years. A 6 percent yield suggests investors think it’s at risk.
Dubai demonstrates the distance ahead of Saudi 1 Nov 2017 The UAE’s most populous emirate has become a global financial hub thanks to a diversified economy and tolerance of Western culture. Now Dubai is pushing a green agenda. The kingdom can learn much from its smaller neighbor, including its imperfections, as it tries to catch up.
Chicago School gets $125 mln for being wrong 1 Nov 2017 The university’s tradition leans heavily towards free and efficient markets. Hedge-fund boss Ken Griffin’s name and cash – generated in an industry that depends on markets being inefficient – will now endow the economics department. Kudos to Griffin and Chicago’s open mind.
StanChart has yet to reward shareholders’ patience 1 Nov 2017 Resurgence is proving more difficult than recovery for the emerging market lender. Chief Executive Bill Winters has returned it to profitability, but is struggling to boost income faster than costs. Still-low returns make restarting meaningful dividends a distant prospect.
Vivendi can unlock more time to stalk Ubisoft 1 Nov 2017 French laws may soon force the media conglomerate chaired by Vincent Bolloré to decide whether to bid for the 7 bln euro video-games group. He has more choices than putting up or shutting up. Vivendi can duck the decision by converting part of its stake into non-voting stock.