Politics

Litigious U.S. president begins Supreme courtship

31 Jan 2017

Neil Gorsuch has been nominated to replace Antonin Scalia, which would restore a slim conservative majority. Other ageing justices could provide a chance to tip the balance further. Donald Trump's past and his early tests of power could mean ample time with the Supreme Court.

New Exxon CEO gets steadier start than predecessor

31 Jan 2017

Darren Woods' first earnings report was solid, aside from a rare $2 bln hit on a gas field. Crude prices are even creeping up. Ex-boss Rex Tillerson, meanwhile, awaits a nod to work for President Trump. Given what's in store, he could be forgiven nostalgia for his old job.

Trump’s attack on red tape more PR than purge

31 Jan 2017

The president reckons making federal agencies repeal two regulations for each new one will reduce business burdens. Similar UK edicts had mixed results. The vague U.S. directive, which excludes major financial rules, could sow more confusion in an already uncertain environment.

Cox: Trump’s labor secretary is more about capital

30 Jan 2017

Burger-joint entrepreneur Andrew Puzder, the nominee to run the U.S. Labor Department, co-wrote a 2010 book offering a turgid - if mercifully brief - manifesto on how to get people working. But Puzder's jobs may lack the qualities the government agency was created to champion.

Trump’s stock-market rally has no clothes

30 Jan 2017

The S&P 500 is up 7 pct since the eve of his election, even after an early Monday dip. The hope is that Trump's promises of cuts in taxes and red tape will unfold without a hitch, while those that would slow trade and immigration won't happen. The weekend's chaos shows otherwise.

Immigration ban hands U.S. firms dilemma

30 Jan 2017

Tech firms, Goldman, Starbucks and others may become political targets after criticizing a temporary White House block on citizens from seven mostly Muslim countries. But silence may alienate customers and future workers, especially among younger, digitally connected generations.

Hadas: Macron might show world a healthy populism

30 Jan 2017

The French presidential candidate has assumed the popular guise of an outsider who connects with voters, promising a glorious future. But this philosopher-banker loves the EU and pro-growth reform. President Macron might offer a helpful mix of vigour, rigour and active optimism.

French elections beat Brexit for market disquiet

30 Jan 2017

The Gallic vote is worrying investors more than Britain leaving the EU. It now costs over a third more to insure against a French default than a UK one, though rating firms see little chance of either going bust. It's the scope to weaken its currency that gives Britain an edge.

Ireland is the filling in unappealing tax sandwich

30 Jan 2017

It's the big loser, in both trade and security, from the UK's exit from the EU. True, Ireland could pick up high-end investment as the UK sheds it, but even that hinges on an attractive tax rate, which is now under threat - both from its neighbour and from Donald Trump's America.

Trade swings in GDP highlight challenge for Trump

27 Jan 2017

The pace of U.S. economic expansion slowed in Q4 to 1.9 pct. A drop in exports had a big impact, offsetting a third-quarter boost. The president wants more outward trade, but the volatility makes his 4 pct growth target a stretch even before planned import tariffs rock the boat.

Trump’s America First drive hits a wall

26 Jan 2017

Taxing imports from Mexico is the administration's latest idea to finance a barrier on the southern border. The plan resembles a border adjustment tax favored by congressional GOPers. It could generate plenty of money, but American consumers - not Mexico - would pay the bill.

Viewsroom: Trump’s borderline tax ideas

26 Jan 2017

Two competing tariff ideas from President Trump and congressional Republicans bring merits but mostly unforeseen risks. Meanwhile, any cut in the corporate tax rate will benefit hapless Yahoo and its Asian holdings. Plus, why it pays to bet against Davos Man's thinking.

Detroit can power-steer around political obstacles

26 Jan 2017

The new president wants more U.S. factories and jobs. In theory that could cost the car industry $60 bln-plus. But Ford and GM have spare capacity and good PR folks. Other Trump policies should help carmakers, too. They can turn connected and driverless tech to their advantage.

Merkel ignores dark side of job boom at her peril

26 Jan 2017

Rises in employment and real incomes mask the problem of growing income inequality in Germany. Chancellor Angela Merkel’s ability to fend off an election challenge from the rebooted centre-left Social Democrats may hinge on how she proposes to stop the poor becoming poorer.

Next HK leader needs Beijing’s help on inequality

26 Jan 2017

The race for Hong Kong's top job is on. Rising inequality and house prices are choking the middle class. It's a ticking social bomb, but Beijing seems focused on stifling local radicals. Empowering a leader to fight vested business interests should be the immediate priority.

Trump’s Mexican standoff a lose-lose proposition

25 Jan 2017

The American president unveiled border-wall plans as Mexican officials arrived in Washington to discuss reworking NAFTA. Trump has blasted the pact as a terrible deal. Mexico says it could ditch it entirely. A better relationship is possible, but so too is an economic disaster.

Italy’s Renzi has chance to stage feeble comeback

25 Jan 2017

The country's highest court has overhauled an electoral law crafted by Matteo Renzi. The ruling allows early elections, but that will be small consolation for the former prime minister. Even if he regains power, he may have to rely on a weak coalition that will enact few reforms.

Gary Cohn banks perfect hedge against Trump role

25 Jan 2017

Cashing out of Goldman with the stock near a high and helping the Dow top 20,000 is worth at least $100 mln to the bank's ex-No. 2. Not only is he an early beneficiary of the new regime, he's protected if the policies he promotes as the president's top economic adviser fail.

Breakdown: Border tariff vs. border-adjustment tax

25 Jan 2017

Donald Trump wants to hit firms that outsource with a simple levy on imports. GOPers in Congress have pitched a more complex idea built into a corporate-tax overhaul, which might more reliably offset the effects of lower tax rates. The plans create different winners and losers.

Trump can teach May about the art of the deal

25 Jan 2017

A trade pact between the UK and the United States could be helpful to both. The faster it comes, the less comprehensive it would be. Yet what an accord between the two leaders might lack in scope would be made up for by the creation of a clear loser: Europe.