Politics

Dutch deliver conventional protest vote

16 Mar 2017

The country’s governing coalition suffered heavy losses in Wednesday’s election. But right-wing firebrand Geert Wilders picked up fewer seats than expected and finished a distant second. The setback for extremism leaves mainstream political parties more fragmented than ever.

Britain’s budget U-turn merits Brexit deal alarm

15 Mar 2017

Chancellor Philip Hammond has reversed last week's tax hike for self-employed workers. As EU exit negotiations begin, the UK critically needs a united government that can be firm in the face of political pressure. Ditching a defensible reform implies the opposite.

Tesla’s surprise surge lights up China policy risk

15 Mar 2017

The electric carmaker unexpectedly tripled sales in the People's Republic last year to $1 bln. Favourable licence plate policies adopted recently in key cities are a likely factor. For Tesla, China's fast-moving green car rules can be as much an opportunity as they are a problem.

Icahn cronyism fits Trump’s emerging energy policy

14 Mar 2017

The activist investor is urging an overhaul of the U.S. biofuel program in his first pitch as deregulation adviser to the president. The program could use a rethink, but not from a man whose refinery stands to benefit. Yet the idea fits with Trump’s conflicts-laden energy agenda.

Xi has weak pitch selling status quo to Trump

14 Mar 2017

The U.S. president will reportedly host China's Xi in April, but neither has much to bring to the table. Xi wants Trump to stick with the status quo on trade, investment and climate change. In exchange China will make friendly noises about investment and reform, but little more.

White House friends not much help to gun industry

13 Mar 2017

Trump's victory vanquished the prospect of new firearms rules. In the upside-down world of ironmongery, that's bad for business. Gander Mountain just filed for bankruptcy, Cabela's merger with Bass Pro is imperiled and gun shares have been crushed. The bust will continue.

Second Scottish vote could still mean hard Brexit

13 Mar 2017

Sterling rose against the U.S. dollar as Scotland’s first minister called for another independence referendum. One theory is Prime Minister Theresa May will need to take a softer line on Brexit negotiations to persuade Scots to stay. But a hard divorce is still possible.

Bovis Homes suitors have good reasons to pitch low

13 Mar 2017

The UK homebuilder has attracted interest from two peers. The rival premiums of 5 pct and 7 pct appear underwhelming. But a takeover would be a quick fix for investors’ worries about management and building standards, and there are few justifications for a much sweeter offer.

Bank of England deputy governor Hogg should resign

13 Mar 2017

Charlotte Hogg failed to inform the UK central bank that her brother works for Barclays. While a sin of omission, it’s serious for an institution that holds itself and others to a high standard. If she stays, it would hurt the bank’s reputation.

Dutch election exposes fragility of mainstream

13 Mar 2017

This week’s vote is a test of Europe’s anti-elite mood. But the focus on right-wing firebrand Geert Wilders ignores a fragmentation in support for traditional parties. That is an obstacle to forming a stable government in the Netherlands - and for decision-making in the EU.

Modi’s state poll victory will keep India moving

13 Mar 2017

A big win by Prime Minister Narendra Modi’s BJP after a disruptive currency overhaul shows Indians are willing to endure pain for progress. It gives a green light for more reforms that benefit the poor, like simpler subsidies. A major shift towards free markets is less likely.

U.S. swamp drainage clogged by prosecutor firing

13 Mar 2017

Trump ousted 46 DoJ attorneys on Friday, including Manhattan's Preet Bharara, who prosecuted insider trading and other financial crimes. Combined with a bevy of Goldmanites in the White House, it's a further sign the financial industry can expect a chill four years.

White House disrupts Silicon Valley pecking order

10 Mar 2017

Trump's arrival has rearranged how tech firms stack up in Washington. Some have criticized the U.S. president's policies while others see opportunities to sway the new regime. The shift has legal battles between Oracle and Google, and Apple and Qualcomm spilling over into D.C.

Payroll bump a fair wind for Trump economic agenda

10 Mar 2017

Employers added a healthy 235,000 jobs in February. Wages and participation also improved. Combined with buoyant investor confidence, the first payroll report of the Trump era gives the president momentum to push his ambitious fiscal plans - if he can focus on essentials.

BT split will please all people some of the time

10 Mar 2017

The UK telco has agreed to legally separate its infrastructure business. Rivals said the status quo made them and customers worse off. There is still scope for BT to be too influential in how Openreach runs, but its huge pension scheme would have made a clean break impractical.

Park ouster frees up Seoul for the real fight

10 Mar 2017

A court decision to uphold the impeachment of South Korea's President Park Geun-hye clears the path to an election. It removes a giant distraction, giving the polarized nation a chance to find common ground on critical economic reforms and its considerable geopolitical problems.

Healthcare-plan foes may find safety in numbers

9 Mar 2017

The White House is attacking the CBO as it tots up the cost of repealing Obamacare. Republicans once touted estimates from the nonpartisan group, which has a decent track record. Early healthcare appraisals elsewhere are damning, but the legislative one will remain one to watch.

Viewsroom: Trump’s bad prescription for Obamacare

9 Mar 2017

The U.S. president and congressional Republicans’ rush to ditch the Affordable Care Act is spawning pox-plagued legislation. Meanwhile, Deutsche Bank tries to get its financial house in order. And State Street’s fund managers are pushing to get more women on corporate boards.

China gives Trump cheap trade trinkets

9 Mar 2017

China looks to have fast-tracked the U.S. president's trademark applications, and its economy is going his way too. U.S. imports shot up 38 pct last month, and the yuan has firmed. There's less to the data than meets the eye, and the trademarks are trouble.

North Korea’s pressure points are hard to push

9 Mar 2017

Pyongyang's missiles and an alleged murder are vexing its few friends; China's ban on coal imports suggests a fresh desire to tame its neighbour. Old foes like the U.S. could also apply more pressure through secondary sanctions. But that may, in turn, worsen relations with China.