People

Viewsroom: Electric-car global roundup; Facebook

7 Oct 2021

Rivian drops its IPO prospectus, Volvo readies its public market return, Hertz brings on a car guy and GM gets a thumbs up from Engine No. 1. Antony Currie puts it all together. And what does Facebook’s outage mean for shareholders? Gina Chon and Richard Beales weigh in.

India’s promoter capitalism gets a timely bashing

6 Oct 2021

Shareholders are stirring up resistance at Mukesh Ambani’s Reliance, broadcaster Zee and lender PNB. Some of the uprisings will be quelled, but they underscore a welcome shift toward more investor-friendly forces. It’s an overdue development just as interest in the market surges.

Cox: How Greta can transition from blah blah blah

4 Oct 2021

The young Swedish climate activist grabbed headlines in Milan at the runup to COP26 last week, castigating “so-called leaders” for talking much and acting too little. She’s got a point. But generational resentment won’t halt global warming. She’d be better off going nuclear.

Drahi drags satellite M&A into near-earth orbit

4 Oct 2021

France’s Eutelsat rejected the telecom billionaire’s $3.2 bln bid. If a follow-up offer succeeds, Drahi could pursue a cost-saving merger with rival SES, whose TV-signal business is also succumbing to gravity. A chunky spectrum refund from the U.S. government makes a deal easier.

Viewsroom: Basket-case Britain; Gambling in Macau

30 Sep 2021

Trucker shortages, partly thanks to Brexit, have been blamed for all manner of UK economic hardships, from toilet paper scarcities to long queues at petrol stations. Ed Cropley and Peter Thal Larsen explain. And our columnists in Hong Kong discuss casinos and investment banking.

Japan’s leaders stubbornly embrace status quo

29 Sep 2021

Fumio Kishida is set to replace Yoshihide Suga as prime minister after securing leadership of the ruling Liberal Democratic Party. His conservative fiscal tendencies make him an unpopular choice for investors. It is likely a setback for hopes of economic and market momentum.

Morgan Stanley’s Asia shift signals new China era

28 Sep 2021

Long-time regional co-CEO and China boss Wei Christianson is retiring, leaving Gokul Laroia in sole charge. Few combine her banking nous and network. The Wall Street firm will now rely on unit heads for the mainland, suggesting a maturing market as well as one growing in clout.

Goldman smartly snaps up McKinsey cast-off

9 Sep 2021

The Wall Street firm hired Kevin Sneader, the consultant’s former managing partner, as co-head in Asia. Installing the person who agreed a $573 mln opioid settlement looks odd for a bank still smarting from the Malaysian 1MDB scandal. In fact, it shows an openness to fresh ideas.

Capital Calls: AMC, German pet retailer

8 Sep 2021

Concise views on global finance: The movie theater chain enjoyed bumper Labor Day attendance; a trio of private equity suitors are circling Zooplus.

Capital Calls: JD.com shakeup

6 Sep 2021

Concise views on global finance: New appointments at the $126 billion Chinese e-commerce giant hint at succession planning.

Review: The many unseemly faces of Facebook

23 Jul 2021

The $1 trillion social network’s ruthless rise is well documented. “An Ugly Truth” captivates with new, disturbing details on recent scandals and CEO Mark Zuckerberg’s handling of the firm’s growing power. The uglier reality is that its 3 billion-plus users aren’t that bothered.

Branson space caper may have airline economics

16 Jul 2021

The British tycoon has lined up punters paying $250,000 each for his sub-orbital joyride. To hit profit targets, though, his Virgin Galactic needs to hike prices as rivals lift off. If it can’t, the $8 bln firm’s financial trajectory may resemble loss-making Virgin Atlantic.

Capital Calls: Online fashion retail

15 Jul 2021

Concise views on global finance: The return of old customer habits and muted demand as the pandemic lingers could reverse the recent stellar run of the likes of ASOS.

Review: The dark side of stakeholder capitalism

9 Jul 2021

Arif Naqvi promised to make money while doing good in emerging markets. But he treated his Abraaj private equity group’s cash as his own, pocketing $780 mln. “The Key Man” tells how he hoodwinked the likes of Bill Gates and TPG. It’s an overdue reality check for impact investing.

Drahi’s mystery pounce gives BT plenty to ponder

28 Jun 2021

The Franco-Israeli tycoon may have used derivatives to collar 12% of the British telco. Such deals typically cap an investor’s economic exposure. Buying the underlying shares would align his interests with those of other holders and let him benefit from a BT broadband shakeup.

Green megalomania renews $80 bln Congo hydro dream

18 Jun 2021

Aussie mining magnate Andrew Forrest is behind a fresh push to turn the African river’s vast power into energy. Dam-building is a fool’s errand, though, and his Fortescue’s plan to produce hydrogen for export may not stack up financially. Less bombastic alternatives are better.

Hong Kong scion cedes hometown IPO premium

18 Jun 2021

Richard Li, the entrepreneurial son of tycoon Li Ka-shing, plans to list his pan-Asian insurer FWD in New York instead of the city where he’s a familiar face to investors. He is sacrificing both brand recognition and higher valuations. It’s a steep price for keeping more control.

Credit Suisse impasse makes Deutsche’s look easy

17 Jun 2021

The German lender righted itself by shedding superfluous bits of investment banking. For the Swiss group, that would mean cutting units like U.S. credit trading, which wealth clients barely use. But those businesses probably generate good returns, making a turnaround more costly.

Toshiba’s scandal-hit board is on borrowed time

17 Jun 2021

The $20 bln Japanese conglomerate sacrificed just two directors after an inquiry judged insiders colluded with government officials to block activists. Yet all the top brass are tainted by association. Transparently phasing in their replacements would help rebuild investor trust.

Bolloré and Ackman will beat the Vivendi activists

15 Jun 2021

Agitators including Dan Loeb own stakes in the French tycoon’s conglomerate. A messy plan to list most of music label Universal, while selling 10% on the cheap to Bill Ackman’s SPAC, gives them plenty to aim at. But Vincent Bolloré’s near-30% control means he has the upper hand.