Hadas: Businesses need to cut back on half-truths 14 Mar 2018 In the age of digital activism, propaganda’s dire power corrupts politics and divides society. Companies too often join in, pushing agendas with scant regard for the full truth. That’s bad for the world. And if politicians respond by attacking corporations, earnings will suffer.
ING pay fiasco confirms banking’s utility status 13 Mar 2018 The Dutch lender has withdrawn a 50 percent salary hike for its CEO following a public outcry. Political opprobrium stems from past state support for banks. The inevitable consequence is that bosses become glorified civil servants. Directors and shareholders take a back seat.
Oil can do better than “shale, stale and male” 9 Mar 2018 The energy industry has an abysmal record of hiring women – and the CERAWeek energy confab in Houston reflected rather than addressed the problem. But as oil companies move jobs from the well to the lab, hiring women is logical as well as right.
UK directors group offers lesson in bad management 9 Mar 2018 The chair of the Institute of Directors is temporarily stepping down after a draft report that contained conduct allegations against her was leaked before she had a chance to defend herself. That will harm the credibility of a group which lobbies for better corporate governance.
Hadas: Doughnut economics needs a new flavour 7 Mar 2018 Author Kate Raworth’s image refers to both the hole of deprivation and ecological disaster beyond the outer rim, both of which are to be avoided. But her recipe is contaminated with eco-left prejudice. A more wholesome blend would start by recognising the current system’s gains.
Election leaves Italy with only radical options 5 Mar 2018 An anti-establishment surge has crushed the chances of another moderate government. The maverick 5-Star Movement or the hard-right League are best placed to lead a coalition. The winners share some goals. But personal rivalry will make it hard for them to work together.
Euro zone reform faces green and red lights 5 Mar 2018 Germany’s new ruling coalition has cleared the way for reforms to strengthen the single currency area. Yet proposals to backstop banks and governments remain contentious. Italy’s new government adds uncertainty. With the ECB’s firepower waning, delay may prove costly.
Protest vote is big winner in Italy’s election 5 Mar 2018 The anti-establishment 5-Star Movement is set to win a third of votes in a poll that delivered a hung parliament. The radical League also surged. Together, they may have the seats to govern. But whatever coalition emerges, voters have clearly rejected traditional, pro-EU parties.
Cox: How to rid your portfolio of assault weapons 1 Mar 2018 Since Breakingviews first highlighted the role of BlackRock, Vanguard and other fund managers in financing manufacturers of AR-15 rifles after the Parkland school shooting, readers have asked how they can be sure they're not complicit. Here's a handy tear sheet to guide them.
Hadas: Billy Graham’s great missed economic chance 26 Feb 2018 The evangelist, who died last week, lived through a global debate over the Christian responsibility to help society. He put preaching before activism. If he had spoken out – as many European Catholics did – America might have a stronger welfare system now, and less populism.
Hadas: Put stock markets in their modest place 21 Feb 2018 Share price movements garner headlines and excite politicians, but not for good reasons. Equity markets play a minor and easily replaceable role in funding investment, and the effect of current values on wealth is almost entirely psychological. They deserve less attention.
Congress holds its nose over U.S. fiscal restraint 8 Feb 2018 The legislature passed a deal early on Friday to raise spending by several hundred billion dollars, just two months after a $1.5 trln tax cut. The strain on government coffers during a roaring economy will leave politicians with far less ammo when the next downturn arrives.
Hadas: Brexit trial could go worse than expected 9 Feb 2018 Are economists biased against Brexit? If anything, their estimates, which rely on imperfect precedents, are too optimistic. Leaving the EU will impair UK growth by hitting long-term confidence, institutional strength and workforce quality – all hard to capture in a spreadsheet.
Tesco pay showdown contains a wider warning 8 Feb 2018 A claim that female shop workers should get the same wage as male warehouse staff could cost the UK grocer up to 4 billion pounds. It’s a lesser-known twist on equal pay. While retailers Asda and Sainsbury’s face similar legal challenges, all sectors may be exposed.
Equity #MeToo risk is more than a crapshoot 6 Feb 2018 Allegations like those made against founders of Guess jeans and Wynn Resorts are impossible to predict. But some industries may be more at risk of sharp, reactive share declines when claims surface. A filter might show gambling and fashion as vulnerable - but finance, too.
Wynn Resorts slide shows house can lose in new era 26 Jan 2018 Boss Steve Wynn says sexual-misconduct accusations leveled at him are “preposterous”. The $2 bln wiped off the company's shares suggests investors nonetheless fear boardroom disruption. It’s a warning to all firms that even alleged misbehavior has become a financial risk.
City’s #MeToo moment is tipping point and catalyst 25 Jan 2018 The charity behind a men-only London dinner where female hostesses were groped has closed down. The scale of justified public censure means such events have no future. But the furore may also give new impetus to appoint more women to boards and redress gender pay inequality.
Weed giants share a deserved peace pipe 24 Jan 2018 Canada’s Aurora and rival CanniMed have agreed a friendly merger after months of acrimony. CanniMed’s shareholders only get a small stake in the $6.2 bln combination, but a big uplift in value. The world’s biggest listed weedmaker is now well positioned for regulatory changes.
Davos gathering gets #MeToo balance mostly right 22 Jan 2018 This year’s summit in the Swiss ski resort is chaired entirely by women, with gender a big theme at panels and parties. But the summit's low female attendance reflects the global imbalance of power. Tighter quotas would make Davos more politically correct but less formidable.
Viewsroom: Donald Trump goes to Davos 19 Jan 2018 The U.S. president heads to the Swiss Alps confab that’s the antithesis of his “America First” ideology. He’ll have competition: keynote speaker Narendra Modi, with his “Make in India” policy. Plus: BlackRock’s Larry Fink pushes social activism. And why Ford is stalling.