UK election makes Halloween ghouls of capitalists 31 Oct 2019 Labour leader Jeremy Corbyn kicked off his campaign by attacking figures like retail tycoon Mike Ashley and hedge fund manager Crispin Odey. His radical message distracts from Labour’s fuzzy stance on Brexit, and tycoons have few defenders. They face a frightening few months.
Brexit election is answer to the wrong question 30 Oct 2019 The December poll is a flawed second referendum on Britain leaving the European Union. Prime Minister Boris Johnson needs a majority to push through his deal; other parties have to set aside rivalries to stop him. As in 2017, divided voters could deliver an inconclusive result.
Mario Draghi’s tacit advice to Christine Lagarde 24 Oct 2019 The outgoing ECB boss says his successor needs no guidance. But his last big news conference contained clues. First, never give up, though economic risks are rife. Second, turn the page on infighting. Third, be wary of financial bubbles. Fourth, expect brickbats, whatever you do.
Britain is not ready for Boris Johnson’s Brexit 23 Oct 2019 Parliament rejected the prime minister’s attempt to push through his flawed deal to leave the European Union by Oct. 31. What happens next depends on the EU, on lawmakers, and on Johnson himself. Another extension looks inevitable, an election remains the most likely outcome.
Christine Lagarde gets lucky with German ECB pick 23 Oct 2019 Berlin is set to nominate Isabel Schnabel to the central bank’s board. The university professor would bring economic expertise, and, judging by public comments, more open views on monetary policy than her Teutonic predecessor. The new ECB president would welcome both qualities.
EBRD opening is France’s chance at another top job 21 Oct 2019 President Emmanuel Macron has a good candidate to lead the bank: Treasury boss Odile Renaud-Basso. Repeating his success at landing Christine Lagarde at the ECB would ease the sting of Sylvie Goulard missing out on a big European Commission post. But it may not be plain sailing.
Johnson’s poor Brexit deal avoids worse outcome 17 Oct 2019 The UK prime minister secured an unlikely agreement to leave the European Union, but only by carving out Northern Ireland. Winning parliamentary approval for the economically costly plan will be hard. At least the chaotic exit Johnson had threatened is off the table - for now.
Markets show Boris Johnson benefits of Brexit deal 11 Oct 2019 Sterling and stocks in UK-focused companies rose after Britain’s prime minister and his Irish peer said they had a “pathway” out of their standoff. Agreement is far from certain, as is parliamentary approval. But the advantages of avoiding a chaotic departure are crystal clear.
Mario Draghi’s detractors prepare for next fight 10 Oct 2019 The outgoing ECB boss ignored technocrats’ advice not to resume bond buying, the FT says. The leaked guidance reflects increasingly vocal dissent. The central bank won’t reverse its looser policy any time soon. But incoming chief Christine Lagarde faces clear battle lines.
Boris Johnson’s Brexit long shot is short of time 3 Oct 2019 The prime minister’s long-awaited blueprint for leaving the EU has major flaws. Even if Brussels agrees to negotiate, it is far from clear that parliament would approve a deal rather than extend the Oct. 31 deadline. A final showdown may have to wait until after an election.
Cox: Italy’s summer “coup” occupies fragile throne 10 Sep 2019 Investors reacted with relief bordering on euphoria after the anti-EU League was shut out of a new coalition government, led again by Giuseppe Conte. But the undercurrents that propelled the party into power are still strong. Italy’s elites may not be sufficiently chastened.
EU merits new kudos for keeping old antitrust tsar 10 Sep 2019 Denmark’s Margrethe Vestager will keep the competition portfolio in Ursula von der Leyen’s new European Commission team. That shows a willingness to fight tech giants like Google and to resist Franco-German plans to water down antitrust rules. Von der Leyen has made a good start.
The Exchange: Enrico Letta 10 Sep 2019 Italy’s new coalition government, cobbled together from the centre-left and quixotic 5-Star Movement, has been greeted gleefully by markets and EU allies. But one former prime minister warns about complacency, calling for a reset with Brussels, tax cuts and renewed investment.
Johnson’s Brexit manoeuvre brings crisis to a head 28 Aug 2019 Britain’s prime minister wants to cut the time available for parliament to thwart his planned Oct. 31 departure from the European Union. Lawmakers who want to prevent a chaotic “no-deal” Brexit will have to move quickly. The chances of a contentious election have increased.
Permira plans $5 bln test of EU software appetite 28 Aug 2019 The buyout shop may list Germany’s TeamViewer, which sells technology for remote computer access. It’s part of a trend for enterprise-software groups offering just one service. U.S. peers have bumper valuations. The risk is that Europe’s sickly IPO market dents Permira’s returns.
Hadas: The right Brexit is still no Brexit 28 Aug 2019 Three years and two prime ministers after a divisive referendum, the UK is as far as ever from a national consensus on how to leave the EU. A decision to stay now would be economically sensible, globally responsible - and politically no harder than any variety of separation.
EU’s 100 bln euro tech fund scratches wrong itch 23 Aug 2019 Brussels officials, sad about not having their own Google, are cooking up an investment vehicle to fund home-grown unicorns. The bloc’s history suggests the main result will be a lot of squabbling. More important, lack of money isn’t what holds back European tech startups.
Boris Johnson’s political triumph will be fleeting 23 Jul 2019 Britain’s soon-to-be prime minister has won the office he long coveted. But to keep it, he must either pass a Brexit agreement that eluded his predecessor, persuade his party to leave the EU without a deal, or win an election. Rash promises have increased his chances of failure.
EU Amazon case pushes tech towards utility status 17 Jul 2019 Antitrust tsar Margrethe Vestager may probe the $990 billion group’s use of merchants’ data. That would fit with a wider European drive to stop technology companies’ platforms from favouring their own services. Tighter rules will, however, cement bigger players’ dominance.
EU budget pact is ready for 21st century reboot 4 Jul 2019 Italy argues that EU fiscal rules elevate stability over growth. They are complex and don’t encourage productive investment. Removing funds spent on research or green energy from deficit goals could help. Yet Rome’s budget plans show politicians’ priorities often lie elsewhere.