Labour

Capital Calls: JPMorgan, French SPAC, Jessica Alba

17 June 2021

Concise views on global finance: Jamie Dimon bulks up his nascent UK digital banking offer by buying Nutmeg; France boosts its lowly SPAC league-table position with two blank-cheque vehicles; the Hollywood star’s consumer packaged goods company Honest encounters growing pains.

Amazon’s living-wage trade-off is worth it

9 June 2021

The $1.6 trln firm’s pay of $15 an hour, double the U.S. minimum, has bolstered hiring in a competitive job market. That could hurt some small businesses. But it puts the company in an important position to pressure America’s largest employers – the government and Walmart.

Wall Streeters outpace Europeans back to office

7 June 2021

JPMorgan CEO Jamie Dimon wants staff in by summer, and Goldman’s David Solomon called home-working an “aberration”. Deutsche, HSBC and Barclays are taking a laxer approach. Sidewalk-pounding bankers at U.S. firms might win more client facetime, and an even greater share of deals.

Confusing U.S. labor signs augur uneven recovery

4 June 2021

The Dallas Fed thinks the jobs market is hot; the San Francisco branch says the opposite. Both are right. While the unemployment rate fell to 5.8% in May, it’s less rosy for women and people of color. The central bank needs to focus on the weakest link to fulfill economic goals.

Markets are too tranquil for their own good

2 June 2021

Measures of expected asset-price volatility have fallen as the U.S. economy roars ahead, Fed boss Jay Powell keeps his foot on the accelerator, and firms and consumers regain some confidence. The recovery is now so fully priced in that even small setbacks could rattle investors.

Capital Calls: Retail sales’ wild ride

19 May 2021

Concise views on global finance: Some U.S. retailers are reporting better growth than others, but there’s still much to play for.

Viewsroom: China’s baby bust, European SPAC boom

13 May 2021

China’s census data showed the population grew just 0.53% every year in the decade to 2020, with fertility rates dropping to Japanese levels. That’s bad news for growth. And European rainmakers like Claudio Costamagna and Ian Osborne offer market-friendlier blank-check deals.

Capital Calls: Apple, UK SPACs

30 April 2021

Concise views on global finance: Apple’s European antitrust problem may start a global trend; UK regulators scramble to join SPAC party.

The Exchange: Fewer bankers, more engineers needed

20 April 2021

That’s one of Jacques Attali’s many prescriptions to enhance the economy of life. The former EBRD boss and French presidential adviser also discusses Big Tech breakups, Europe’s lagging vaccination efforts, Macron’s political prospects and his plan to close the elite ENA.

Capital Calls: Goldman Sachs, U.S. currency report

16 April 2021

Concise views on global finance: The Wall Street bank’s communications veteran, Jake Siewert, goes back to the future, sort of; Taiwan is dubbed a forex interventionist but avoids manipulator label.

Capital Calls: BlackRock’s Archegos angle, SPACs

30 March 2021

Concise views on global finance in the Covid-19 era: The fallout from the collapse of Bill Hwang’s family office gives regulators reasons to focus on funds, not fund managers; and bosses of blank-check companies don’t take investor questions.

Review: “A World Without Email” is a long way off

26 March 2021

Tending to electronic communication takes a third of our working day, making us miserable and less productive, Cal Newport argues. Virtual to-do lists are useful hacks to regain control. Yet even if email is defeated, interruption by pervasive digital messages seems here to stay.

Capital Calls: New York, Allegro exit

17 March 2021

Concise views on global finance in the Covid-19 era: The Big Apple reigns in a new ranking of global cities, but the prize isn’t what it was; shareholders in Polish e-commerce group Allegro sell down early.

The Exchange: Will home working outlive Covid-19?

16 March 2021

The pandemic has relocated many office workers to their studies and dining tables. Stanford economist Nicholas Bloom tells Dasha Afanasieva that many companies will continue working from home two days a week. But allowing too much flexibility could bring diversity risks.

Capital Calls: Digital art

11 March 2021

Concise views on global finance in the Covid-19 era: A blockchain-protected work by Beeple sold for $69 million at Christie's.

Veolia gambles on Suez shareholder showdown

11 March 2021

The French group sweetened its 11.3 bln euros bid by pledging not to dismantle its target’s domestic waste and water business. Handing the unit to infrastructure fund Meridiam should reassure politicians and unions. All Suez CEO Bertrand Camus can do is haggle for a higher price.

Europe is now the main front in gig economy war

19 February 2021

Britain’s top court ruled that a group of Uber drivers are entitled to worker rights. Spain is also cracking down. It’s a stark contrast to America, where a California ballot win gave the sector hope. Tougher rules mean a longer path to profit – and higher prices for consumers.

Corona Capital: Music deals

26 January 2021

Concise views on the pandemic’s corporate and financial fallout: Warner Music may take a stake in the music business owned by Saudi Arabian Prince Alwaleed bin Talal.

Review: “Work Won’t Love You Back”, so compromise

22 January 2021

Sarah Jaffe explains how a devotion to jobs isn’t working for today’s employees. She’s right that loving your profession can mean forgoing salary, lifestyle or security. Inadvertently she makes the case for dropping the pursuit of purpose for good pay and a more balanced life.

Corona Capital: Indian banks, LBOs, Stellantis

18 January 2021

Concise views on the pandemic’s corporate and financial fallout: Indian banking guru Aditya Puri gives reasons to be bullish about New Delhi’s lenders at a Breakingviews predictions event; the ECB cracks down on risky loans; carmaker Stellantis gets a boost from passive funds.