Society

Kim Jong Un’s hollow promises better than nothing

27 Apr 2018

The North Korean leader met South Korea’s president, vowing to work towards a formal peace treaty and a nuclear-free peninsula. The latter seems unlikely. But even a diplomatic thaw is good for South Korean business – and will reduce the tail risk of a catastrophic conflict.

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.

Starbucks’ anti-racism coffee break sets example

17 Apr 2018

After the arrest of two black men at a Philadelphia shop the $84 bln chain will shut some 8,000 U.S. outlets for an afternoon of racial-bias education. The swift response, perhaps costing $20 mln in lost latte sales, backs up Starbucks’ social goals and offers a lesson to others.

L&G’s gender revolt has revealingly low bar

17 Apr 2018

The 983 bln pound asset manager will vote against chairs at UK companies if boards have too few women. It’s a laudable move. But the 25 pct threshold looks low, and traps groups as big as Barclays or London Stock Exchange. Diversity in British boardrooms has a long way to go.

Review: America’s founding was all about the money

13 Apr 2018

“New World, Inc.” explores the role of British merchant adventurers in laying the groundwork for the colonial settlements in Virginia and Plymouth. The book is a prequel of sorts to the Pilgrim creation myth that suggests Mammon, not religious freedom, drove America's creation.

Hadas: Even Trump can’t make graft great again

11 Apr 2018

Resistance to corruption is evident in cases against ex-leaders of South Korea, Brazil and South Africa. Old royal privileges make no sense in modern economies. U.S. officials and the corporate elite have strayed, but rising middle classes will keep straightening out the crooked.

Rail strikes will test French appetite for Europe

9 Apr 2018

President Emmanuel Macron’s plans to overhaul the state-run train company have sparked mass walkouts. He’s not the only one with much to lose. If voters turn against rail reforms, they may also blame EU laws that are forcing the pace of change and grow more critical of Brussels.

Review: The ultimate truth about blockchain

6 Apr 2018

The technology behind bitcoin has applications that extend far beyond the crypto-currency hype. But is it the panacea for humanity’s problems? “The Truth Machine” takes a positive view of decentralised digital ledgers, but underplays fundamental questions of safety and trust.

Telegram sends warning to Wall St and Sand Hill Rd

3 Apr 2018

Russian entrepreneur Pavel Durov’s messaging service raised $1.7 bln from private sales of its crypto-currency this year, besting all but three IPOs. Booming coin offerings face more oversight and many ring hollow. But Durov’s tech chops should give bankers and VC firms pause.

Holding: #MeToo is putting corporate law on trial

29 Mar 2018

Claims of sexual misconduct at the likes of Fox and Wynn Resorts have led to suits over board duties and disclosure. They’re long shots, largely because business governance is an awkward tool for social change. Yet investors and victims are giving it a new and useful purpose.

Hadas: Populist economics can be sensible

28 Mar 2018

U.S. President Donald Trump, Italy’s 5-Star Movement and other modern populists are floundering with outdated or bad economic plans. They would do more to help those left behind by globalisation if they used higher taxes to create better jobs and strengthen welfare security nets.

UK gender pay gap requires “just do it” approach

28 Mar 2018

Disclosures have revealed discrepancies, especially in finance, which will not close on their own. The state can help. Fining employers which fail to make progress over several years would align the interests of women and investors. CEOs would have to match words with actions.

Bumble may regret swiping left too soon on Match

21 Mar 2018

The women-friendly dating app dissed its $13 bln rival in an ad after Match sued over patent infringement. “We’ll never be yours” is a strong rejection considering the paucity of suitors in the hookup trade. Then again, playing hard to get is a time-honored negotiating tactic.

Hadas: Taking on the Chinese new world order

21 Mar 2018

The People’s Republic lacks the political and cultural appeal to supplant the U.S. as all-round hegemon. Even so, it could soon set many global economic standards. The right response is cognitive empathy and careful choice of battles. Western countries too often choose wrong.

UK’s best Russian riposte is hiding in plain sight

14 Mar 2018

Prime Minister Theresa May is expelling diplomats after Moscow ignored her ultimatum to explain its role in a nerve-agent attack in England. That is a fairly ineffective punishment. Better to use existing UK anti-corruption laws to target high-profile Russians with Kremlin links.

Hadas: Businesses need to cut back on half-truths

14 Mar 2018

In the age of digital activism, propaganda’s dire power corrupts politics and divides society. Companies too often join in, pushing agendas with scant regard for the full truth. That’s bad for the world. And if politicians respond by attacking corporations, earnings will suffer.

ING pay fiasco confirms banking’s utility status

13 Mar 2018

The Dutch lender has withdrawn a 50 percent salary hike for its CEO following a public outcry. Political opprobrium stems from past state support for banks. The inevitable consequence is that bosses become glorified civil servants. Directors and shareholders take a back seat.

Oil can do better than “shale, stale and male”

9 Mar 2018

The energy industry has an abysmal record of hiring women – and the CERAWeek energy confab in Houston reflected rather than addressed the problem. But as oil companies move jobs from the well to the lab, hiring women is logical as well as right.

UK directors group offers lesson in bad management

9 Mar 2018

The chair of the Institute of Directors is temporarily stepping down after a draft report that contained conduct allegations against her was leaked before she had a chance to defend herself. That will harm the credibility of a group which lobbies for better corporate governance.

Hadas: Doughnut economics needs a new flavour

7 Mar 2018

Author Kate Raworth’s image refers to both the hole of deprivation and ecological disaster beyond the outer rim, both of which are to be avoided. But her recipe is contaminated with eco-left prejudice. A more wholesome blend would start by recognising the current system’s gains.