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Taxing the rich October 12, 2017
FOR once, the Daily Mail and the Guardian, British newspapers of the right and left, agree. In the former, Alex Brummer says “IMF's new line of thinking of tax should please Corbyn & co” while the latter says that the IMF “analysis supports tax strategy of Labour in UK”. Both are responding to the IMF's […]
The internationalisation of China’s currency has stalled October 12, 2017
ON OCTOBER 18TH, President Xi Jinping will preside in Beijing over the most important political event in five years. At the Communist Party’s 19th congress much will be made of the triumphs achieved in nearly four decades of reform and opening up. So expect a glossing over of one part of that process where progress […]
Crafty app developers are ripping off big-name brands October 12, 2017
THE new app for an upmarket British department store certainly looks the part. Released on Google Play, a shop for Android software, on September 5th, it has the right logo, the correct vibrant colour and offers fashionable clothes and accessories. But the app is not authorised by the brand, is littered with pop-up ads and […]
In dirt-poor Myanmar, smartphones are transforming finance October 12, 2017
For chats and kyatsMYANMAR’S democratic transition sometimes seems marked as much by continuity as by change. Depressingly, the army continues its bloody persecution of Rohingya Muslims in the west, for example (see article). But elsewhere moves to open the country’s markets, started by the preceding military regimes, have gathered pace. New commercial and financial services […]
An epic but inconsequential proxy vote at Procter & Gamble October 12, 2017
SHAREHOLDER meetings in Ohio are not usually the stuff of high drama, but a recent gathering was a nail-biter. Nelson Peltz of Trian Fund Management, an activist hedge fund, sought a seat on the board of Procter & Gamble (P&G), the world’s largest consumer-goods company, in a proxy vote on October 10th. It was the […]
Kobe Steel admits falsifying data on 20,000 tonnes of metal October 12, 2017
THE port city of Kobe, on the southern side of Japan’s main island, is known for luxury beef from pampered cattle, fine sake and precision engineering. Its reputation for the last of those products took a blow on October 8th when one of its oldest industrial firms, Kobe Steel, admitted that that it had falsified […]
Why McKinsey is under attack in South Africa October 12, 2017
An unfamiliar sight for McKinseyitesMCKINSEY, a global management consultancy known for its discreet profile and rarefied air, is unused to the sort of tub-thumping popular revolt it is experiencing in South Africa. Such is public outrage over the Guptas, an Indian-born business dynasty accused of growing rich off their relationship with President Jacob Zuma, that […]
The finance industry ten years after the crisis October 12, 2017
MANY people complain that the finance industry has barely suffered any adverse consequences from the crisis that it created, which began around ten years ago. But a report from New Financial, a think-tank, shows that is not completely true.The additional capital that regulators demanded banks should take on to their balance-sheets has had an effect. […]
BBVA, a Spanish bank, reinvents itself as a digital business October 12, 2017
OUTSIDE, a patch of grass affording a spectacular view of the Sierra de Guadarrama is littered with cartridge casings. Inside the Club de Tiro de Madrid (Madrid Shooting Club), on the city’s northern edge, over 400 people are fixing their sights for the next three months. Their business is not shooting but banking. Teams sit […]
An assessment of the White House’s progress on deregulation October 12, 2017
DEREGULATION, along with tax cuts and trade reform, is one of the three pillars of President Donald Trump’s economic agenda. Republicans promise that, freed of red tape, American firms will invest more and unleash faster economic growth. And while Mr Trump has yet to unite his party around a major piece of legislation, the White […]
American efforts to control Chinese firms abroad are dangerous October 12, 2017
WARS are fought with weapons, but also with money. To understand the global balance of power in the coming decades, it helps to pay attention to the commercial subplot of the North Korean crisis. For the first time, America is attempting to use its full legal and financial might to change the behaviour of Chinese […]
Richard Thaler wins the Nobel prize for economic sciences October 10, 2017
THE credit-card bill arrives. You have enough money in a savings account to pay it off—the sensible thing to do, arithmetically speaking, since the interest rate on the credit-card balance far exceeds that earned on the savings. Yet you leave the savings untouched, and pay only as much of the bill as your current-account balance […]

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