Money‚ Politics

Taiwan’s silicon shield wants for reinforcement

7 Nov 2024

Taipei’s exports to the US are surging thanks to chip giant TSMC, but Donald Trump's threatened tariffs would undermine those. How far the president-elect would go to protect the island from Beijing, especially if trade weakens, is unclear. It's time to boost spending on defence.

Elon Musk’s biggest conflict is with Donald Trump

6 Nov 2024

The CEO was enriched Wednesday after shares of Tesla rose by $100 bln following Trump’s victory. From contracts to regulations, Musk’s political and business interests worryingly overlap. Eventually he could become the nexus of Chinese and US leaders’ fractious whims.

Trump win sends markets into parallel realities

6 Nov 2024

The Republican candidate’s clear election victory raised hopes of tax cuts and deregulation, sparking euphoria in US stocks, crypto and the dollar. Yet soaring yields on 30-year Treasury bonds reflect fears of future fiscal trouble. Investors cherry-pick policies at their peril.

Power brokers lose their grip on US politics

4 Nov 2024

Billionaires like Jeff Bezos or Larry Fink are tiptoeing around Tuesday’s vote for good reason. A Kamala Harris victory offers thin hope of easing tough policy. Donald Trump promises tax cuts but threatens unpredictable backlash. Fear is trumping hope, even in the boardroom.

Value push will mostly survive Japan election mess

29 Oct 2024

A decade-long effort to boost shareholder returns can continue to gain traction despite the LDP's disaster at the polls. It helps that Japan Exchange took charge of the party's initiative for structural reform. For now, as politicians vie for power, a weak yen will buoy stocks.

Crypto election gusher has bipartisan payoff

28 Oct 2024

Digital currency businesses spent $200 mln in political donations, an absurd amount even compared to unions and Big Oil. Harris and Trump have different approaches, but both are friendlier than Biden. The spending will give crypto regulation legitimacy after the election.

Elon Musk creates a must-win election

25 Oct 2024

The Tesla chief’s $840 bln EV maker would fare well or better under a Democratic president. But the temptation to become a global mastermind outside of autos is too strong — enough for Musk to back Donald Trump and gamble on the future of his federal contracts.

US economy is partying, but voters are hungover

16 Oct 2024

Full employment and subdued inflation have the economy in its best shape in years. Despite a rocky Biden tenure, Kamala Harris enters the election with a chance to blunt Trump’s advantages. But bruised consumer feelings – and the overall wealth picture – are getting in the way.

China’s march to strong yuan is long and perilous

26 Sep 2024

President Xi Jinping wants a more powerful currency. This means increased usage of the renminbi in global payments and central bank reserves, rather than replacing the dollar. But Beijing’s desires for bigger forex heft clash with its need to keep a tight grip on the economy.

India’s open for business push has local quirks

20 Sep 2024

Prime Minister Narendra Modi’s government lowered barriers to foreign investment. Yet BlackRock, BMW and others are choosing to expand in partnership with powerful families. It tightens tycoons’ grip on the world’s fifth-largest economy, and sets them up as future global rivals.

Kamala Harris’ welcome housing boost is overdue

21 Aug 2024

The presidential candidate plans to cut red tape as part of a $40 bln construction blitz. It’s a nod to the supply-muting and price-stoking effects of regulation. The shift can stem shortages from Washington to Wisconsin – as long as it doesn’t kill homeowners’ golden goose.

Dueling US tax ideas miss $4 trln elephant in room

15 Aug 2024

Both leading presidential campaigns have floated exemptions for tip income and higher credits for parents. Donald Trump also wants to move Social Security checks out of Uncle Sam’s reach. Such populist pitches pale next to expiring 2017 cuts, which will anchor the policy debate.

Elon Musk’s bully pulpit is coming into focus

13 Aug 2024

The Tesla boss’ two-hour online chat with Republican candidate Donald Trump was a mess. Yet it shows how his web of infrastructure-like businesses, from rockets to energy storage, hold growing sway in the political arena. The result may be a less-than-virtuous cycle.

US election crimps fixes for energy, weed and more

6 Aug 2024

Presidential contests can bury unglamorous issues in dire need of attention. Take power lines: legislation awaits to help the huge queue of energy projects, equal to more than doubling US capacity, hook up to the grid. Despite broad agreement, the election cycle stymies progress.

Bangladesh becomes global firms’ next big unknown

6 Aug 2024

Protests may ease now Prime Minister Sheikh Hasina has fled. But her ouster after 15 years of iron-fist rule leaves the economically struggling country of 170 mln vulnerable. Companies like H&M and Inditex that depend on it for garment-making face an anxious time ahead.

Corporate America revels in Supreme Court windfall

23 Jul 2024

The most influential set of business-related rulings in decades augurs sweeping US deregulation. One case alone may save the medical testing industry some $30 bln, as companies race to challenge many longstanding rules. Receptive judges would help pay dividends for years.

Dollar-cost averaging is Democrat donor watchword

22 Jul 2024

US President Joe Biden’s backers were like owners of a sinking stock, stuck in a flailing investment aided little by more cash. His exit and nod to Vice President Kamala Harris drew $50 mln of new money. Spending now offers a reset and the lure of influence in a renewed campaign.

Joe Biden displays power and risks of incumbency

21 Jul 2024

The US president will not run for re-election, a momentous decision that may have come too late to mitigate damage to his party. Unlike corporate leaders, a sitting commander-in-chief is almost impossible to dislodge. Biden’s replacement will face Donald Trump without that grip.

Silicon Valley daredevils ride or die with Trump

17 Jul 2024

Marc Andreessen, Elon Musk and other tech entrepreneurs are lining up behind the former US president. Maybe there’s ideological alignment, but naked self-interest and contrarian biases probably play a part, too. The downside in politics, however, is far bigger than in business.

Trump VP pick plays on a message of decline

15 Jul 2024

The Republican candidate's new running mate JD Vance solidifies an agenda of trade and immigration restrictions pitched to struggling workers. Vance’s story of upward mobility appeals to the blueprint, and a grim truth: for working-age men, it’s harder to climb the ladder.