Carl Icahn just needs any Xerox-HP deal 2 Dec 2019 The smaller copier group where the activist owns 11% says it will go hostile with its $33 bln offer for HP. The bickering aside, it would be more logical for HP to buy Xerox. That could turn out much the same for Icahn, who owns 4% of HP, and for both companies’ other owners.
DSM’s two new heads stretch sustainability halo 2 Dec 2019 Feike Sijbesma is leaving the $23 bln Dutch maker of food supplements and fibres. In 13 years as CEO, he championed planet-friendly businesses while delivering a 443% return to investors. Handing the job to two subordinates adds a governance challenge to sky-high expectations.
TCI plays outrider to Mark Carney’s climate drive 2 Dec 2019 Chris Hohn’s hedge fund plans to penalise directors at companies who don’t publish climate change data. If others follow suit, it could boost the Bank of England governor’s push for transparency. What’s less clear is whether greater disclosure delivers investment rewards.
Wobbly German coalition will sap EU reform energy 2 Dec 2019 Chancellor Angela Merkel’s coalition partners, the Social Democrats, elected leaders who want to rethink the basis of the alliance. Failure to agree may lead to a minority government or early 2020 elections. That would slow progress on key projects like European banking union.
Nomura takes the easiest road with new CEO 2 Dec 2019 Koji Nagai performed poorly as boss and will now become chairman, a shareholder-unfriendly tradition in corporate Japan. Successor Kentaro Okuda’s time running the Americas unit supports the bank’s global goals. But a veteran pick is unlikely to bring fast fixes to bigger issues.
Aussie rate setters on a slow road to asset buying 2 Dec 2019 Consumption is weak and joblessness is rising. The central bank has room to cut rates from a record low of 0.75%, and can resort to bond purchases after that. But Governor Philip Lowe wants fiscal policy to do more. He can ramp up pressure on the government by taking his time.