Management & Leadership

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.

Sri Lanka debt pain will go from China to Wall St

11 Jan 2022

The poster child for Beijing’s “debt-trap diplomacy” is asking for easier repayment terms amid a worsening financial crisis. Defaulting on U.S. dollar bonds may be a better option. That would help Colombo kick a credit addiction as worrying as its growing dependence on China.

Capital Calls: SEC, UK housing, Marijuana

10 Jan 2022

Concise views on global finance: The U.S. watchdog wants more private company transparency; The UK government’s decision to hit housebuilders with a four billion pound repair bill has lessons; and cannabis producer Tilray gives a glimpse of its life after its merger with Aphria.

Turkish mobile spat exposes state fund weakness

10 Jan 2022

Billionaire Mikhail Fridman wants to overhaul Turkcell’s board to boost the $3 bln group’s valuation. Turkey’s state wealth fund, which appoints most of the directors, looks an obstacle. With stakes in other ailing companies like Turkish Airlines, it’s proving a poor custodian.

Samsung tech prowess drained by governance woes

7 Jan 2022

Operating profit at the maker of microchips and Galaxy phones is set to hit a four-year high of $11.5 bln. Despite the dominance, it trades at a discount to Apple and TSMC. A recent management shakeup provides a chance to tidy up the leadership mess and boost shareholder returns.

Aussie proxy reform is wolf in sheep’s clothing

7 Jan 2022

The government is foisting new rules on firms like Glass Lewis and ACSI that offer voting advice for shareholder meetings. Some changes make sense, and one bad idea has been dumped. But on balance they go too far in some areas and not far enough in others.

Exxon CEO’s big problem is Texas, not just climate

6 Jan 2022

The drum beat to replace Darren Woods, who took over the $280 bln oil major in 2017, is increasing. Oil prices are higher now than then. But capital intensive, shale drilling isn’t what the world needs as it transitions. His big bet on the Lone Star state may be his undoing.

Great CEO Resignation invites the Great Agitation

3 Jan 2022

Bosses are retiring at a record clip, leaving companies scrambling for experienced leaders. At the same time, activists are revved up. As companies grapple with restless staff, supply chain challenges and economic uncertainty, investor cage rattlers will ramp up their campaigns.

Wall Street will find ways to satisfy crypto envy

3 Jan 2022

Banks have mostly been shut out of the $2 trln digital asset craze. Many want in, but they will have to deal with murky regulation, a 24/7 market and patchy legal protections. A fight for profit and customers may also obscure other risks in a market untested by the mainstream.

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.

Morgan Stanley will frame new portrait at the helm

27 Dec 2021

James Gorman turned in better stock-price performance than most rivals over his CEO tenure. While peers like Goldman Sachs chase traditional banking customers, Gorman has set a course towards fast-growing wealth management. In 2022, he will script a graceful exit.

Capital Calls: Enel’s payments punt

24 Dec 2021

Concise views on global finance: The 70 bln euro utility is paying up to 361 mln euros for a relatively pricey punt on fellow Italian payments firm Mooney.

Italy will miss Mario Draghi’s premiership

23 Dec 2021

The ex-ECB boss may swap his prime minister role for that of president. A political version of a CEO-turned-chairman, Draghi could still steer affairs and reassure markets of Rome’s EU faith. But he would have less clout to push reform just as elections lead to stormier politics.

Capital Calls: Hedge fund fine

22 Dec 2021

Concise views on global finance: Britain’s FCA fines BlueCrest Capital 41 mln pounds, a third of the fund’s U.S. penalty.

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.

Rio Tinto’s new chair is an odd change agent

20 Dec 2021

The $105 bln miner has appointed Dominic Barton to run its board. China experience fits well with managing Rio’s key relationship, but scandal tainted McKinsey while he ran the consultancy. For a group trying to move on from its own controversies, it’s a strange choice.

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.

Aussie climate ambition will restart at ballot box

20 Dec 2021

The $1.4 trln economy has all it needs to be an energy-transition leader, except a proactive government. The 2022 election will change that, making independent, global warming-savvy candidates the kingmakers. Stronger policy also will be lucrative for domestic and export markets.

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.