Review: Why Brexit will ultimately please nobody 15 Dec 2017 Britons voted to leave the EU for myriad and conflicting reasons, according to “Brexit and British Politics”. It’s hard to see a settlement that addresses them all. The risk is that voters see Brexit as another betrayal by politicians, fuelling the disaffection that caused it.
UK gender pay data needs rigorous audit 7 Dec 2017 Some British companies have suspiciously reported no gap between the pay of male and female employees, the Financial Times found. The government thought transparency would help close the divide. To be credible, though, the data must be audited – and offenders punished.
Jeremy Corbyn pay row shows costs of bank excess 1 Dec 2017 The UK opposition leader attacked “speculators” and criticised banker pay, as UBS chief Sergio Ermotti defended it. A decade after the crisis, remuneration still fuels dissent. Shareholders' failure to rein it in has led to dismal returns. Volatile politics could be more damaging.
Review: Macron is a riddle wrapped in transparency 24 Nov 2017 A trio of books help explain how a political neophyte became the French president. One is a decent account of the election campaign, another delves deeper into his youth and family life. But even Emmanuel Macron’s own tome is short of detail on how he formulated his beliefs.
Hadas: Be thankful for good economic news 23 Nov 2017 The launch of bitcoin futures contracts grabs headlines, but has no weight on the scales of history. A half-century of sharp declines in global misery is another matter. This may be the greatest economic achievement ever. Be grateful - and angry at how much is still not done.
Sabotaging Obamacare backfires on Republicans 22 Nov 2017 President Trump claims his predecessor’s health-insurance program is dying. He and the GOP have eliminated some subsidies and slashed marketing. Yet the pace of enrollment has risen from last year. The political cost of efforts to kill the program is rising.
Mastering effluent can make a financial splash 20 Nov 2017 Some 80 pct of global wastewater goes untreated, causing health and other societal problems. That leaves untouched 1 trln gallons of sludge that could be harnessed for energy, fertilizers and reusable water. With a potential fivefold return, investors need not hold their noses.
Mugabe will cast a long shadow over Zimbabwe 20 Nov 2017 The 93-year-old ruler is likely to be impeached after nearly four decades in power. He bequeaths an economy in urgent need of reforms. The most important – attracting foreign investment and restoring trust in the currency system – will happen over years, not weeks.
Merkel’s weakness could give Europe strength 20 Nov 2017 The collapse of coalition talks will force German Chancellor Angela Merkel to weigh other options. Another grand coalition or a minority government would be preferable to new elections. Revamping the euro zone will be easier without the Free Democrats opposing fiscal integration.
Review: The next fight for Latin America’s soul 17 Nov 2017 Dictators and demagogues have come and gone; progress in the region has been impressive. Still, rule of law and effective institutions still lack, Michael Reid writes in "Forgotten Continent." That makes the next steps toward prosperity harder.
Gender bonds are more than feel-good investments 17 Nov 2017 Investors have flocked to the first-ever U.S. dollar bond promoting equality at work. They are smart to do so. It's more than good PR at a bad time for the war of the sexes. Given the correlation between moral behaviour and sound returns, the bigger issue is lack of supply.
Hadas: Unintended consequences may be new normal 15 Nov 2017 From Brexit to Donald Trump to Saudi Arabia, the world is full of surprises. But those cheering wrenching change may face further upsets. The UK rejoins the EU, the U.S. president discredits small government, and Saudis become poorer. The next shock may be the rise of dullness.
Holding: Corporate America loves its bad Boies 10 Nov 2017 The lawyer David Boies may have helped disgraced mogul Harvey Weinstein try to hide his abuses, but don’t expect more than a shrug from the business world. In a realm that prizes results, the defender of the likes of ex-AIG boss Hank Greenberg will remain the go-to consigliere.
McKinsey needs to run a matrix on itself 10 Nov 2017 The consulting firm has been facing tough questions over hiring in Saudi, and work in South Africa. Neither helps its image. But more worrying is how data is making consulting a commodity. Doling out advice looks less valuable when one’s own business is struggling.
Review: The economic common good is hard to find 10 Nov 2017 Jean Tirole won the Nobel Prize for his work on regulating tricky industries. In “Economics for the Common Good” he takes on broader themes. Newcomers to current debates can learn from his general discussions, but the highlights are subtle descriptions of his area of expertise.
Yahoo ex-boss shows everyone’s in dark on hacks 8 Nov 2017 Marissa Mayer told senators she still doesn’t know who was behind a 2013 data theft affecting 3 bln users. Equifax’s CEO said the same of a breach involving 145 mln consumers. And Congress struggles to draft cyber rules. Amid such cluelessness, the epidemic can only get worse.
Ritz roundup is dark side of grand Saudi ambition 5 Nov 2017 The detention of elites including Prince Alwaleed in an anti-corruption drive may head off opposition to the crown prince's reforms. It could clear the way for initiatives like his $500 bln desert city. But it also makes needed underpinnings, like the rule of law, less credible.
The Exchange: Ellen Pao 2 Nov 2017 The investor sued Kleiner Perkins for discrimination, becoming a canary in the coal mine for a raft of sexual-harassment and gender-bias allegations rocking Silicon Valley, Hollywood and beyond. She discusses if this is a turning point for what she describes as a systemic problem.
UK gender pay equality drive is too easy to skirt 30 Oct 2017 Bigger employers have less than six months to disclose any difference between how much men and women earn. Transparency is supposed to help close the gap. But Austria has tried something similar to little effect. Only the threat of eventual sanctions will make a real difference.
Hadas: Greed is best indicator of financial crisis 26 Oct 2017 New research casts small-time property investors as the secret villains in the 2007 U.S. house price collapse. As usual, the love of leverage was the root of financial distress. Balance sheets are stronger today, but investors still haven’t learned the virtue of moderation.