Saudi can win two ways in global energy reshuffle 13 Jul 2022 U.S. President Joe Biden will plead for more oil on his visit to the kingdom. Riyadh may be tempted to say no. But with China and India buying cheaper Russian crude, diverting shipments could boost selling prices. Close ties could also unlock more western capital for Saudi.
Capital Calls: Amazon/Just Eat Takeaway 6 Jul 2022 Concise views on global finance: The $1.2 trillion e-commerce giant is reprising its deal offering Prime subscribers membership of UK food delivery outfit Deliveroo with the U.S. arm of its $3 billion Dutch rival.
Unilever ice cream mess is only partly cleaned up 30 Jun 2022 The $116 bln group has sold its Israeli Ben & Jerry’s business after the ice cream maker halted sales in the occupied Palestinian territories. Unilever gets to extricate itself from a no-win situation. Yet the hipster dessert’s ongoing autonomy means the two may clash elsewhere.
Capital Calls: Chinese fishermen, UK’s Jupiter 28 Jun 2022 Concise views on global finance: Joe Biden goes after the People’s Republic’s commercial fishing fleet; the fund manager’s new chief executive has an even tougher task than his predecessor.
Capital Calls: Russian default, Inflation and debt 27 Jun 2022 Concise views on global finance: Moscow defaulted on its foreign debt for the first time in over 100 years, leaving bondholders in limbo; the Bank for International Settlements wants rates raised “quickly and decisively”, but is also worried about higher borrowing costs.
Rwanda’s economic refit gets net-positive free ads 22 Apr 2022 Britain and Denmark want to outsource asylum processing to the East African nation infamous for its 1994 genocide. Regardless of their motives, it chimes with leader Paul Kagame’s plan to build an offshore services hub. Handling refugees looks mercenary but supports his goal.
The cost of corporate kowtowing to China 5 Apr 2022 In “America Second”, Isaac Stone Fish lays into executives who suck up to Beijing. He and Pete Sweeney discuss how politics and economics are forcing U.S. companies to reframe their approach, what legislations might be in the pipeline, and whether military conflict is inevitable.
Ukraine truce or not, pre-war order is gone 22 Mar 2022 Investors are cheering any progress in talks between the country and invading Russia. But even if the fighting stops, the West won’t lift sanctions right away. Relations with Russia will take years to mend. And Europe will still crank up investment in energy security and defence.
Nickel gets nixed, French firms linger in Russia 17 Mar 2022 The war in Ukraine is affecting far corners of global finance. In the Viewsroom podcast, Breakingviews columnists explain how the conflict helped bring nickel trading to a halt in London. And why oil giant Total and carmaker Renault are resisting the exodus by Western companies.
Dixon: War boosts need for “green Marshall Plan” 11 Mar 2022 The West needs more allies, not just to turn Russian President Vladimir Putin into a global pariah, but to show China what will happen if it too throws its weight around. A good way to do this is to supercharge its embryonic plan to help developing countries grow in a green way.
Saudi’s MbS will eventually take Biden’s call 10 Mar 2022 America cannot plug the shortfall from cutting off Russian oil. Increased output from OPEC, and particularly Saudi Arabia, is key. De facto leader Mohammed bin Salman isn’t eager to help the U.S. president, but needs the endorsement of Western cash to transform the economy.
EU charts expensive path towards energy freedom 8 Mar 2022 The European Commission wants to lop over 70% off Russian gas use this year by ramping up LNG purchases, green energy and gas storage. It implies Europeans consuming less energy and paying more than feared for what they use. Pooled EU resources may be needed to cushion the blow.
How Europe can kick its Russian gas habit 1 Mar 2022 Conflict in Ukraine shows the folly of the continent depending on gas from Moscow. Speeding up renewable energy would help. To get to zero in a decade, however, Europe will also need other sources of gas, more nuclear power, multi-nation coordination and even consumer rationing.
Viewsroom: Ukraine, ECB and India’s giant insurer 17 Feb 2022 Worries about an invasion of Ukraine have rattled markets, but Dasha Afanasieva says Russian investors are more sanguine. The European Central Bank faces a tougher inflation juggling act, argues Swaha Pattanaik. And Una Galani discusses the listing of India’s Life Insurance Corp.
Russian investors display war chat scepticism 14 Feb 2022 Global stocks dropped and government bonds rose after the U.S. said Moscow could invade Ukraine at any time. Though the rouble and shares in lender Sberbank declined, Russian assets aren’t pricing in the toughest economic sanctions. If war is imminent, there’s more pain to come.
Europe’s gas crunch can avoid worst-case outcome 28 Jan 2022 For a continent struggling with high energy costs, a Russian invasion of Ukraine would be a nightmare. But cutting off gas exports would also damage President Vladimir Putin. Barring a total boycott, liquefied gas imports and action by corporate buyers could limit the disruption.
Italian CEOs’ Putin call exposes European discord 26 Jan 2022 Rome is pushing the firms to scrap their virtual chat with the Russian leader. With their varying degrees of investment, trade and energy dependence, Europeans have more to lose from sanctions against Moscow than the United States. That lets Putin pit them all against each other.
Ukraine sabre-rattling hits Russian bank investors 20 Jan 2022 If President Vladimir Putin invades, the United States has vowed to punish the country’s lenders. Sberbank and VTB don’t need foreign funding and can count on state support. Yet tumbling stocks this year show that shareholders can still get crushed by diplomatic failure.
DJI is a more elusive U.S. target than Huawei 16 Dec 2021 Washington is putting a bigger squeeze on the Chinese drone maker by blocking American investment in the company. But unlike Huawei’s telecom gear, DJI products are widely used in the United States, including by police. Western rivals are tiny, making an outright ban tricky.
Viewsroom: China goes global, Harleys go electric 16 Dec 2021 Gina Chon assesses how China’s 20 years of membership of the World Trade Organization have played out compared to expectations in 2001. And Jonathan Guilford test-drives Harley-Davidson’s deal to merge its electric-motorcycle unit with a blank-check company.