People

New Tesla chair will have to get tougher

8 Nov 2018

Robyn Denholm, CFO at Aussie telco Telstra, is moving from her boardroom seat at the $60 bln electric-car maker to the head of the table to oversee erratic CEO Elon Musk full-time. Splitting the top jobs is good, but Denholm has been part of a group unable to rein him in so far.

The Exchange: Goldfingers

2 Nov 2018

Oliver Bullough's book "Moneyland" delves into the parallel world of super-rich super-crooks, where rules are for the little people. He discusses wealth, corruption, tax havens and how to fix it all with Clara Ferreira Marques and Nicholas Shaxson, author of “The Finance Curse”.

Chinese super-rich disrupt and are disrupted

29 Oct 2018

The People’s Republic is minting two new billionaires each week. Soon they will outnumber their U.S. peers. Younger, creating wealth faster, and losing it faster too: Chinese are redefining what it means to be ultra-rich.

Hong Kong’s political risk takes new form

9 Oct 2018

Leader Carrie Lam has made a good start tackling a housing crisis, and public sentiment is improving. With mass protests less likely, she may push for a controversial security law next. The business community appreciates stability, but eroding rule of law is a rising threat.

Fan Bingbing stars in a tax coming-of-age tale

4 Oct 2018

Chinese authorities have charged the popular actress a whopping $129 mln for concealing past dues. Her months-long disappearance has been a gripping saga, featuring claims of widespread fraud. But there is another plot line: Beijing’s awkward shift to a better-enforced tax code.

Hadas: China makes offers that cannot be refused

25 Sep 2018

The Vatican is the latest global powerhouse to try conditional surrender as a strategy for entering the world’s most promising market. Google may be next. Outsiders cannot crush the brittle but strong Chinese system. They can hope that slow-acting soft power brings changes.

Southeast Asia’s politics cloud digital ambitions

14 Sep 2018

The Davos crowd descended on Hanoi this week and talked up ties that could make the 660-mln-person region the next China. Recent moves suggest tech barriers are rising, though. Europe's approach to data would be a better path to cut costs and risks while growing local champions.

Jack Ma’s next moves will instruct China tech

8 Sep 2018

The charismatic co-founder of Alibaba says he plans to retire. It’s a sign of the $420 bln company’s maturity that others are ready to step up, unlike at rivals like scandal-hit JD. But he will still wield huge influence. Investors will want clarity on who really holds the reins.

For a Republican, McCain was a financial maverick

26 Aug 2018

The Arizona senator, who died Saturday, was famous for his independent streak. Last year he helped block the repeal of Obamacare. He refused to toe the party line on big finance, too, often working with Democrats – including on reining Wall Street after the financial crisis.

China’s #MeToo momentum has broader benefits

10 Aug 2018

Allegations of sexual misconduct levelled at tech and media executives will inspire others to speak out. If more women confront bullies and bosses, a wider push for equal treatment could creep up the agenda too. That would be a welcome shift in China’s male-dominated boardrooms.

China’s pharma scandals sully healthcare cleanup

23 Jul 2018

Quality control problems at two drug makers in July have angered politicians, frightened consumers and destroyed over $2 bln in shareholder value. They come despite an earnest campaign to toughen standards. Big heads will probably roll. Better medicine may result.

Hadas: Global case of baby fever is easily cured

18 Jul 2018

From China to Hungary, governments are concocting financial incentives for women to bear more children. The efforts are doomed, because kids these days are an economic drag. Declining populations may be a problem for creditors, but they do not really threaten national prosperity.

Credit Suisse princelings lack sting in Trump era

6 Jul 2018

The Swiss bank is paying $77 mln to settle U.S. probes into hiring friends of Chinese officials to win advisory work. It’s contemptible behaviour, but there are conflicts of interest around the White House too. Without the moral high ground, such punishments come off weaker.

Sorrell fan club can live with WPP scandal

12 Jun 2018

The former CEO left the ad group after a probe into alleged misconduct, which he denies. Institutional investors have since stumped up funding for a new venture, and handed Sorrell a controlling share. That suggests they care more about returns than his personal reputation.

Sorrell’s new shell tests value of old contacts

30 May 2018

Six weeks after leaving WPP, Martin Sorrell is putting $53 mln into a vehicle to buy up small ad and technology groups. Success will depend on his address book securing access to senior clients. It will also show whether the 73-year-old really merited his massive former salary.

Baidu gets $9 bln warning to stay the course

21 May 2018

The surprise exit of COO Lu Qi sparked a big drop in the Chinese search engine's shares. He helped Baidu focus on search and AI, lifting the company's market value since his arrival from Microsoft in 2017. Boss Robin Li has been sent a strong message about what investors want.

Tom Wolfe outlived his Masters of the Universe

16 May 2018

The "Bonfire of the Vanities" author, dead at 88, famously branded bankers as symbols of wealth and power. Wall Street's Sherman McCoys were chastened by the financial crisis, while new titans rose up in Silicon Valley. Wolfe set a high bar for capturing the corporate zeitgeist.

Tokyo jobs giant makes pricey hire with Glassdoor

9 May 2018

Japan’s Recruit has bought the U.S. job-reviews site for $1.2 bln, or about seven times trailing sales. That is a big sum for a startup that is still unprofitable. Even so, Glassdoor’s insights and data could be useful as technology brings radical change to the HR department.

Review: How to deprogram economic xenophobia

20 Apr 2018

In "Us vs. Them", political scientist Ian Bremmer joins the crowd bewailing the retreat of globalisation. He identifies roots and risks, but finds no easy fixes. Ideas like universal basic income and taxing robots are band-aids. What's needed is a better global school system.

Regulatory reprieve adds tonic to Barclays revival

20 Apr 2018

After a year-long probe, British watchdogs plan to fine boss Jes Staley for trying to unmask a whistleblower. The verdict keeps Staley in his job and avoids awkward questions for the regulators and for Barclays’ board. Staley can now focus on turning around the investment bank.