Kazakh oligarch shakeup may give foreigners a shot 12 Jan 2022 President Tokayev needs to consolidate power after unrest and raise cash to placate his citizens. Billionaires allied to his predecessor are obvious targets. Since he lacks a go-to gang to take over mining assets, he may favour gradual redistribution and more external investment.
Capital Calls: Crocs knows how to pandemic 11 Jan 2022 Concise views on global finance: The rubber-clogs maker’s sales are going gangbusters, and it has used lockdown success smartly to expand with a trendy acquisition.
Pricey oil gives Kazakh investors emergency cover 7 Jan 2022 Russia sent troops to quash a revolt in its neighbour. Even if President Tokayev keeps his job, energy majors like Chevron and Shell will fear fallout from the unrest. With the state reaping the rewards of oil at $80 a barrel, there’s less incentive to renegotiate their terms.
Kazakh gas revolt is timely canary in the coalmine 5 Jan 2022 The central Asian state’s government has fallen after it removed a price cap on liquefied petroleum gas. Kazakhs have a host of local grievances other than energy costs. But commodity spikes will also cause fireworks in European states unless politicians cushion the blow.
Capital Calls: Beyond Meat’s faux chicken 5 Jan 2021 Concise views on global finance: The plant-based meat company’s shares jumped 5% on news KFC will offer its product. The extra value assumes benefits beyond selling buckets of substitute fried chicken.
Capital Calls: BlackBerry’s demise is a warning 4 Jan 2021 Concise views on global finance: Life support ends on Tuesday for the once ubiquitous phone's operating system. When cult gadgets lose their edge to devices that do much more, the descent can be inexorable.
What our columnists got right and wrong in 2021 31 Dec 2021 We look back at a year as unpredictable as its predecessor. We foresaw an M&A surge, even if some of the deals we called for, like Tesla buying Daimler, failed to materialize. But we nailed a few biggies, like Grab’s moment in the limelight, inflation’s return and mRNA’s success.
Mammoth re-engineering project begins: Germany 28 Dec 2021 Its manufacturing-led, carbon intensive economy is ill-suited to the 21st century. Chancellor Olaf Scholz and firms like Volkswagen will spend more on green and digital investment. The trick will be to plough on despite short-term supply chain problems and rising labour costs.
Climate-change money will flow freely to Plan B 24 Dec 2021 COP26’s so-so outcome makes damaging temperature rises more likely. At some point, optimal portfolios may require guns and canned food. Until then investors will lean towards shares in Syngenta, Veolia and other companies that aid adaptation to global warming not just mitigation.
Zuckerberg has metaverse rivals who mean business 23 Dec 2021 Meta Platforms and Epic Games are trumpeting visions of an immersive, 3D internet. But even ignoring the technological challenges, consumers’ appetite for full-on virtual socialising is uncertain. The corporate world is a more manageable target – and that is Microsoft’s domain.
Rishi Sunak picks bad time to play Scrooge 21 Dec 2021 Britain’s finance minister has offered 1 bln pounds to companies hit by the new Omicron variant. The package looks meagre compared to his previous offerings and France’s support measures. Given the UK is raising rates, Sunak could have deployed a bit more fiscal firepower.
Riyadh will flip from No-Go to FOMO for business 21 Dec 2021 Lifestyle reasons mean bosses have long preferred Dubai to the Saudi capital as a Gulf HQ. A mix of the kingdom’s financial promise and government strong-arming means that could start to change. The city’s social scene is already slowly making it less of a punishment posting.
Live now, pay later is fintech’s latest extension 21 Dec 2021 Instalment financing, rebranded as “buy now, pay later,” has been the hot consumer financial innovation powering groups like Klarna and Afterpay. Look for the next iteration to entice consumers beyond shopping and leisure, including doctor’s visits, utilities and even taxes.
The Exchange: Australian Treasurer Josh Frydenberg 21 Dec 2021 With an election looming early next year, the Liberal Party’s deputy leader discusses everything from booster shots to Big Tech, climate change to China, immigration to inflation, and more. He tells Jeffrey Goldfarb how his country can overcome the many economic challenges ahead.
Davos delay will stoke gabfest demand 20 Dec 2021 January’s Swiss conflab is off, for the second year running. In 2021, Zoom calls and rival events like COP26 raised the risk Davos could lose its relevance. In 2022, enough bankers were looking forward to the slopes to imply that a summer event will still get takers.
Big Meat will channel VW-Tesla in alt-protein war 20 Dec 2021 Elon Musk stole a march on automakers, forcing them to play catchup on electric cars. A similar dynamic could play out in real and plant-based meat. The likes of Impossible Foods have a Tesla-like lead, but old hands like Tyson and JBS can use M&A to play tortoise to their hare.
Capital Calls: Bundesbank, Biogen 20 Dec 2021 Concise views on global finance: The new head of Germany's central bank is a reassuringly boring choice; cutting the price of its Alzheimer's drug could help Biogen squeeze something out of what looks like a flop.
Xi’s 2022 GDP target will be moment of truth 20 Dec 2021 One of the Chinese president’s signature policy initiatives was to curb property-related risks. That implies slower but higher quality growth: 4% or so in 2022. Outside advisers are pushing for more. The final economic decision will signal the extent of Xi Jinping’s power.
Capital Calls: McDonald’s makes ex-CEO pay 16 Dec 2021 Concise views on global finance: The fast-food chain settled its lawsuit with ousted boss Steve Easterbrook, recovering compensation now worth $105 million.
China’s metaverse will be a tiny place 16 Dec 2021 Stocks in local companies associated with digital worlds blew up in 2021. The country’s video-games industry, tech expertise and masses of disaffected youth make it an ideal place to push the bleeding edge of virtual reality. That’s precisely why Beijing is squashing it.