Society

Nike puts politically divisive spring in its step

4 Sep 2018

The U.S. brand is putting Colin Kaepernick, the first NFL player to kneel for the national anthem, in its revived “Just Do It” ads. Airlines, sports stores and pizza chains have wrestled with partisan issues. In the commoditized sneaker trade, it’s a risk worth taking.

Skilling could have earned stripes more usefully

31 Aug 2018

The former Enron CEO was released from prison into a halfway house. During his time behind bars, corporate malfeasance flourished but prosecutions dropped. Using high-profile arrests as a deterrent doesn’t work if prosecutors don’t catch criminals. Felons could help.

Review: Barry Cohen is a hedge-fund Frankenstein

31 Aug 2018

The protagonist of “Lake Success,” Gary Shteyngart’s new novel, comprises equal parts of financiers like Paul Singer, Howard Marks and Mike Novogratz. Running from a Valeant-like scandal, he hits the road through America’s heartland in search of his moral compass.

U.S. pension pots both half full and half empty

29 Aug 2018

Buoyant markets have helped public and corporate retirement plans boost funding to the highest levels in years. They can’t afford to relax though. Pensions are still weaker than they were before the crisis, and the bumper returns of the past five years are unlikely to continue.

Guest view: ESG ratings aren’t reliable enough

10 Aug 2018

Socially responsible investing has become a $20 trln-plus industry, but how do we know if firms are actually doing well by doing good? Shiva Rajgopal and Richard Foster pinpoint four big problems in measuring the environmental, social and governance impact of investments.

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.

Hadas: Higher is better for capital-gains taxes

8 Aug 2018

The Trump administration wants an inflation adjustment to reduce investors’ tax bills. Indexing makes sense, but the goal is wrongheaded. Lower taxes on gains don’t encourage investment. Higher rates on capital and lower ones on labor can reduce socially dangerous inequality.

Don’t expect tech giants to stifle Alex Jones

7 Aug 2018

Facebook, Apple, Alphabet et al have, after excessive vacillation, taken the hateful rantings of the Infowars founder off their platforms. As private companies, that’s their right. But until Jones is bankrupted for libel, he will have many other ways to spread his noxious bile.

Viewsroom: CBS’s $184 mln #MeToo challenge

2 Aug 2018

That’s what CEO Les Moonves gets if he leaves the U.S. TV network – unless fired for cause. That’s rare in corporate America. But allegations he sexually harassed women put the board on the spot. Plus: Hong Kong battles the Big Apple for IPOs. And China faces a vaccine scandal.

Hadas: The Great Moderation is due for revival

2 Aug 2018

The 2008 financial crisis showed that economic cycles are still inevitable. Or did it? Duller expectations, tamer finance and stronger regulation could make periodic declines unnecessary. Sadly, it looks like at least one more downturn will be needed to get the message across.

#MeToo is only one of CBS’s Les Moonves problems

30 Jul 2018

The media group is investigating its CEO over sexual-harassment accusations. Even without that, he was a risk. CBS has an entrenched board, is fighting unhelpfully with controlling owner Shari Redstone and faces a tricky industry-wide transition. Moonves is no longer an asset.

Review: Why governments should give away money

13 Jul 2018

Handing out cash with no strings attached is an idea that has fired up a bizarre coalition of Silicon Valley techies and development economists. It may not be the silver bullet that some boosters claim. But as a new book argues, it deserves a serious hearing.

Weed wafts gently into investors’ portfolios

6 Jul 2018

Investors are warming to the devil’s lettuce. The action is mostly in Canada, which has over $25 bln of listed cannabis stocks, and rising volumes of M&A. But the U.S. is positioned to provide the metaphorical pickaxes, and big consumer brands will be watching for legal changes.

Tech backlash grows in Silicon Valley’s back yard

2 Jul 2018

California will force internet companies like Google to give consumers more control over their information and stop it being sold to third parties. The law is narrow but the Golden State is often a litmus test for legislation that takes hold nationwide.

Zell has financial reason to speak better of women

15 Jun 2018

The real estate mogul made tone deaf comments about women at a conference – not for the first time. Sam Zell has a history of speaking off the cuff, offset by a reputation as a skillful asset trader. His female-run REIT, an outperformer, shows why he ought to rein in his speech.

Plumber ruling leaves blockage in UK gig economy

13 Jun 2018

A decision by the country’s Supreme Court ruled that a self-employed contractor is entitled to workers’ rights is ominous for companies like Uber which depend on casual labour. But it offers little new guidance for dealing with technology’s impact on work practices.

Spain can survive Frankenstein government

1 Jun 2018

A no-confidence vote in Prime Minister Mariano Rajoy has replaced his weak minority administration with a hodgepodge of parties. But the economy is growing and fresh elections, if held, might produce a more stable outcome. Political turmoil in Italy is probably a bigger threat.

Roseanne exposes Disney’s double risk

30 May 2018

The media firm led by Bob Iger wasted no time axing the popular TV sitcom after its star tweeted a racial slur. The family-friendly Disney had little choice. The dynamics of entertainment have changed: talent, advertisers and consumers can defect more easily than ever.

Cox: Peter Thiel’s next target should be Infowars

30 May 2018

The tech billionaire financed a lawsuit that bankrupted Gawker and said he’d help others challenging similar sites flouting First Amendment freedoms. A complaint by Sandy Hook families against conspiracy king Alex Jones provides a test for Thiel’s democratic bona fides.

Italy premier’s to-do list would tax a veteran

24 May 2018

Newcomer Giuseppe Conte has vowed to defend the country’s interests in all quarters. If confirmed by parliament, he will face EU conflict on an upcoming budget, the future of Alitalia and Monte dei Paschi, and new asylum laws. All would be tough even if he wasn’t a total novice.