Law

Missing tycoon casts fresh doubt on HK’s status

2 Feb 2017

A mainland tycoon has vanished from Hong Kong, reportedly taken by Chinese agents. If true, it would suggest China's seizure of Hong Kong booksellers in late 2015 was not a one-off. The case could cast fresh doubt on the financial centre's degree of autonomy from Beijing.

Holding: U.S. boards can bank on Neil Gorsuch

1 Feb 2017

President Trump's Supreme Court pick has opposed class-action suits and the power of federal agencies while rarely opining on finance. Like many justices, he may also change his views. As a solid, whip-smart conservative, though, he'll fit right in with a business-friendly court.

Virtual-reality patent wars could be a real drag

31 Jan 2017

Facebook is defending its Oculus unit against claims it stole intellectual property from a rival. The complexity of virtual reality, the potential market size and the winner-take-all nature of technology give good reasons to fight. Companies would do better to focus on products.

Kaspersky finds fighting cybercrime leaves bruises

30 Jan 2017

The Russian group's jump in 2015 earnings shows protecting corporate clients from hacking is a growth industry. Post-U.S. election, it should be in line for a further spurt. Yet the arrest of one of its experts by Moscow suggests reputational risk is its real challenge.

Holding: U.S. trials courting a welcome comeback

26 Jan 2017

Wells Fargo's crackdown on fake-account cases and judicial digs at in-house SEC tribunals intensify the outcry against stifling of lawsuits. Now the Supreme Court is mulling a revival of the right of workers to sue. Renewed access to judge and jury would be good for U.S. justice.

Italy’s Renzi has chance to stage feeble comeback

25 Jan 2017

The country's highest court has overhauled an electoral law crafted by Matteo Renzi. The ruling allows early elections, but that will be small consolation for the former prime minister. Even if he regains power, he may have to rely on a weak coalition that will enact few reforms.

Brexit sceptics win battle but will lose the war

24 Jan 2017

Pro-EU campaigners succeeded in their quest to give parliament a say on triggering Brexit. The catch is that Prime Minister Theresa May will probably win a vote. Besides, her opponents would struggle to prove suboptimal outcomes like EEA membership are better than May's vision.

Hong Kong suit leaves Hanergy riddle unsolved

24 Jan 2017

Hong Kong regulators want to ban executives at scandal-hit Hanergy from management for up to 15 years for malfeasance. The move is welcome. But it doesn't solve the riddle of how it built a $40 bln market cap, then bombed. A firmer hand would do more to restore investor trust.

Optimism stands between Toshiba and meltdown

19 Jan 2017

Reports that the Japanese group may book a worse-than-expected $6 bln writedown sent its shares down 16 pct. That reaction looks mild: if true, Toshiba's book value would be negative. Investors are likely hoping for growth in its chips unit, and a lending hand from local banks.

HK listing crackdown is warning to Chinese banks

18 Jan 2017

The Hong Kong securities watchdog is cracking down on market misconduct. On Monday the SFC sued UBS, StanChart and others over the 2009 IPO of a troubled Chinese company. Fines and licence freezes are likely. Chinese banks, which now dominate local listings, should pay attention.

Intesa’s Iran fine brands it sinful but also inept

16 Dec 2016

Italy's second-largest lender has been fined $235 mln by New York regulators for sanctions breaches. Rivals have paid more and Intesa Sanpaolo hasn't been criminally charged. Investors may find the bank's widespread incompetence at least as vexing as its intention to skirt rules.