America’s record recovery runs on borrowed time 1 Jul 2019 It’s been over 10 years since the economy pulled out of the great recession. That’s unprecedented, yet cycles have lengthened as services predominate over manufacturing. Risks to the outlook have grown, meanwhile, and there’s less room to ease policy when the next downturn comes.
DP World nets decent deal due to tricky IPO waters 1 Jul 2019 The $13 bln Dubai-listed port operator bought energy shipping company Topaz for $1 bln including debt. The buyer has avoided overpaying by sticking to its guns on the price. And Renaissance Services, the majority owner of the target, avoids a risky shot at a public listing.
Japan Display could use a solid AppleCare plan 1 Jul 2019 The iPhone-screen maker is getting a $100 mln lifeline from its most important customer as part of a messy bailout. It’s a rare sort of investment for Apple, but it has few alternative suppliers for the item. The imprimatur also should help Japan Display shore up other backers.
Deutsche Bank blood-letting is a necessary start 1 Jul 2019 The German lender is considering axing up to 20,000 jobs. Ditching one in five workers would show boss Christian Sewing is prepared to take tough decisions to raise profitability. Return on equity would improve, provided the departing staff don’t take too much revenue with them.
EU sacrifices own market principles in Swiss row 1 Jul 2019 By cancelling Zurich’s status as an approved stock market, the European Union has undermined its objectives for making equity trading cheaper and more transparent. Swiss bourse SIX will enjoy higher volumes. Meanwhile European investors will have fewer places to trade.
Safaricom should hunt for its next CEO in Africa 1 Jul 2019 Kenya’s government wants a local to replace the telecom firm’s respected British boss, who has died of cancer. That’s too narrow a remit for an $11 bln outfit which is also big in fintech. But with neighbouring Ethiopia opening its vast market, African expertise is essential.