Trump’s attack on red tape more PR than purge 31 Jan 2017 The president reckons making federal agencies repeal two regulations for each new one will reduce business burdens. Similar UK edicts had mixed results. The vague U.S. directive, which excludes major financial rules, could sow more confusion in an already uncertain environment.
Deutsche capital joy fails to offset Russian shame 31 Jan 2017 The German lender will pay only $630 mln to U.S. and UK regulators for failing to stop suspect Russian trades. Being deemed merely negligent means Deutsche Bank's weak solvency gets a leg up. But its litany of catastrophic systems errors will only cement a tarnished reputation.
Revised Walgreens deal full of quiet desperation 30 Jan 2017 To salvage its trustbuster-challenged acquisition of Rite Aid, the two drugstore chains agreed to sell more shops and cut the price by some $2 bln. They're settling for much less, but may have good reason more than a year on. That's if competition problems can even be solved.
Banker poaching will persist, fees be damned 30 Jan 2017 Jefferies, a unit of Leucadia National, wants to collect more than $10 mln from five advisers it lured from Credit Suisse who later reneged on the deal. The odds of enforcing the breach-of-contract clause are long. Longer still are the odds of stopping raids. Cost is almost never a deterrent on Wall Street.
Cox: Trump’s labor secretary is more about capital 30 Jan 2017 Burger-joint entrepreneur Andrew Puzder, the nominee to run the U.S. Labor Department, co-wrote a 2010 book offering a turgid - if mercifully brief - manifesto on how to get people working. But Puzder's jobs may lack the qualities the government agency was created to champion.
Duped students teach a costly moral-hazard lesson 30 Jan 2017 Obama's crackdown on for-profit colleges raised standards and shut down bad actors. A $7.3 bln lawsuit filed by ex-students of bankrupt ITT seeks federal debt forgiveness too. It underscores the high price of doling out loans without first ensuring schools can make the grade.
Trump’s stock-market rally has no clothes 30 Jan 2017 The S&P 500 is up 7 pct since the eve of his election, even after an early Monday dip. The hope is that Trump's promises of cuts in taxes and red tape will unfold without a hitch, while those that would slow trade and immigration won't happen. The weekend's chaos shows otherwise.
Immigration ban hands U.S. firms dilemma 30 Jan 2017 Tech firms, Goldman, Starbucks and others may become political targets after criticizing a temporary White House block on citizens from seven mostly Muslim countries. But silence may alienate customers and future workers, especially among younger, digitally connected generations.
Hadas: Macron might show world a healthy populism 30 Jan 2017 The French presidential candidate has assumed the popular guise of an outsider who connects with voters, promising a glorious future. But this philosopher-banker loves the EU and pro-growth reform. President Macron might offer a helpful mix of vigour, rigour and active optimism.
Atkins $4 bln merger would be fragile construction 30 Jan 2017 A mooted tie-up between the UK engineering consultancy and unlisted U.S. peer CH2M has some logic, ahead of a likely rise in infrastructure spending. Yet WS Atkins shareholders will need some persuading. CH2M's lackluster performance would make its value a bone of contention.
Review: Supporting character stars in Buffett film 27 Jan 2017 A new documentary about the Berkshire Hathaway billionaire is more personal than business. Buffett shares old home movies and lets down his guard a bit to talk about his parents, formative moments and other memories. The influence of his late wife Susie resonates most powerfully.
Trade swings in GDP highlight challenge for Trump 27 Jan 2017 The pace of U.S. economic expansion slowed in Q4 to 1.9 pct. A drop in exports had a big impact, offsetting a third-quarter boost. The president wants more outward trade, but the volatility makes his 4 pct growth target a stretch even before planned import tariffs rock the boat.
Britain’s global trade dream is second-best option 27 Jan 2017 Prime Minister Theresa May is hoping her meeting with U.S. President Donald Trump will open up a trade deal with the United States. China and others may follow. But the resulting boost to UK exports will probably be too small to replace those it risks losing by leaving the EU.
Trump’s America First drive hits a wall 26 Jan 2017 Taxing imports from Mexico is the administration's latest idea to finance a barrier on the southern border. The plan resembles a border adjustment tax favored by congressional GOPers. It could generate plenty of money, but American consumers - not Mexico - would pay the bill.
Microsoft and Google keep fog around cloud growth 26 Jan 2017 Quarterly results show both firms' on-demand computing units are growing fast. The tech giants are pouring resources into their divisions, as profit is correlated with scale. Microsoft and Alphabet are stingy, however, on essential financial details. These units merit more sunshine.
Holding: U.S. trials courting a welcome comeback 26 Jan 2017 Wells Fargo's crackdown on fake-account cases and judicial digs at in-house SEC tribunals intensify the outcry against stifling of lawsuits. Now the Supreme Court is mulling a revival of the right of workers to sue. Renewed access to judge and jury would be good for U.S. justice.
Viewsroom: Trump’s borderline tax ideas 26 Jan 2017 Two competing tariff ideas from President Trump and congressional Republicans bring merits but mostly unforeseen risks. Meanwhile, any cut in the corporate tax rate will benefit hapless Yahoo and its Asian holdings. Plus, why it pays to bet against Davos Man's thinking.
Jack Ma’s Ant Financial buys an American colony 26 Jan 2017 The $880 mln purchase of remittances firm MoneyGram looks like a counterintuitive bet in a de-globalizing world for the Alibaba founder's financial arm. International payments are a tough business. But MoneyGram gives Ant a U.S. base with tunnels to many developing markets.
Verizon’s ambition brings risk of illogical buying 26 Jan 2017 The $200 bln telco is eyeing $84 bln cable company Charter after taking on smaller AOL and – perhaps – bits of Yahoo. Past splashy bets like its $130 bln purchase of Vodafone are showing signs of structural decline. Verizon's search for new businesses is looking haphazard.
Detroit can power-steer around political obstacles 26 Jan 2017 The new president wants more U.S. factories and jobs. In theory that could cost the car industry $60 bln-plus. But Ford and GM have spare capacity and good PR folks. Other Trump policies should help carmakers, too. They can turn connected and driverless tech to their advantage.