Society

Putin’s gas ploy worsens Russia’s economic plight

9 Sep 2022

The EU paid 89 bln euros for Russian oil and gas in the last six months. That helps President Vladimir Putin afford the closure of a key pipeline. But the move will speed Europe’s search for other energy sources. If the EU holds firm on sanctions, Russia’s recession will deepen.

EU has ways to learn to live with less gas

6 Sep 2022

The closure of a key Russian pipeline leaves Europe facing a 20% shortfall in fuel supply. Measures to cut demand like lower temperatures in homes and incentives for companies to use less energy may soften the blow. More gas-dependent nations like Italy must now work harder.

Trussonomics may freak out the markets

5 Sep 2022

If the UK’s new prime minister was only planning big energy subsidies, investors might not worry too much. But Liz Truss is also planning tax cuts – and may pick fights with both the Bank of England and European Union. If so, the pound could be clobbered, says Hugo Dixon.

Private jet crackdown is idea that could fly

25 Aug 2022

The French government is mulling clamping down on corporate flights, on both environmental and societal grounds. Whether it imposes punitive taxes or strict restrictions, the plan has few obvious downsides. It would be even more effective if other European countries hop aboard.

Cinemas’ debt horror show compels a director’s cut

25 Aug 2022

Regal owner Cineworld is prepping to file for bankruptcy. Punters are slowly returning to theatres, but studios are taking their time to release “Top Gun”-style blockbusters. With less income and rising wage costs there need to be fewer screens, and fewer operators.

Gaming’s big comedown will be spread unevenly

12 Aug 2022

The sector has changed radically since 2008. It weathered Covid with ease, but it’s hard to say how cash-strapped gamers will fare in another recession. Reliable franchises like EA’s “FIFA” could end up more valuable, while the demise of buzzier upstarts may create M&A openings.

Women’s soccer kicks off virtuous financial circle

1 Aug 2022

England’s “Lionesses” won the European Championship in front of 87,000 fans with millions watching at home. That suggests public interest not far off the men’s game. If soccer follows tennis in closing the gender revenue gap, there will be big bucks for players – and for clubs.

Global food crisis demands urgent Western response

25 Jul 2022

Russia’s invasion of Ukraine has pushed up food and energy costs around the globe. The most urgent problems are in poorer countries, write William Rhodes and Stuart Mackintosh. Rich nations offered insufficient help for Covid-19. International bodies can do better this time.

Climate fight can take heart from an old oil maxim

20 Jul 2022

Sages say high crude prices are their own cure. Similarly, hot weather now may avoid worse warming in future, if baking conditions at home make the West honour its pledge to finance developing states’ climate change struggle. That might get stalled net-zero plans back on track.

Guest view: A platform for climate collaboration

14 Jul 2022

Finance ministers and central bankers face inflation and stagnating growth. The climate crisis could dwarf these hardships. If structured well, G20 Country Platforms can help to unlock private capital to meet the challenge, writes United Nations climate envoy Mark Carney.

What an honest British prime minister would say

11 Jul 2022

Conservative politicians who helped precipitate Boris Johnson’s downfall are now vying to replace him. Several have spoken about the need for honesty, integrity and realism. If they mean what they say, they should start with these five points, says Hugo Dixon.

Review: A timely warning of central bank folly

8 Jul 2022

Were 15 years of ultra-low interest rates a miracle cure for the world economy or an epochal mistake? Edward Chancellor’s “The Price of Time” makes a strong case for the latter view. As policymakers hike rates to combat resurgent inflation, fixing the error involves large risks.

Shinzo Abe’s assassination leaves Japan undone

8 Jul 2022

The polarising politician who dragged the country out of decades of deflation was gunned down in the street on Friday. His Abenomics agenda will outlive him, as most of the challenges he tried to solve endure. Without Abe’s charisma, however, tackling them may get harder.

GSK’s bid to dominate longer-life HIV drugs

5 Jul 2022

Deborah Waterhouse and Dr Kimberly Smith have spent decades battling the deadly virus. In this edition of The Exchange podcast, the leaders of the British drug giant discuss breakthroughs in the $26 bln market and how Gilead is also making a play for the growing sector.

Tight bosses are counting on a looser jobs market

1 Jul 2022

BT, British Airways and Sainsbury’s are tussling with workers over pay. Given the Bank of England thinks tight labour markets should slacken, bosses have scope to hang tough. But if the BoE is wrong, which is possible, they will have lost valuable worker goodwill for nothing.

CEOs will look past abortion bans, too

27 Jun 2022

Individual U.S. states will now decide how to regulate access to abortion; some have already outlawed it. That makes navigating the system’s impact on employees more complicated for companies. They’ve done this before – in emerging markets, from China to Saudi Arabia.

Rolls-Royce showcases flexible pay’s ups and downs

22 Jun 2022

The $9 bln UK engineer is offering its staff a one-off payment to match soaring inflation, instead of a bigger salary hike. The flexibility works for employers, and lump sums are worth more to lower-paid employees. But workers have to trust bosses to give similar help next year.

Missing Chinese tourists augur hard economic treks

14 Jun 2022

From Phuket to Paris, destinations that banked on the $255 bln mainlanders spent in overseas hotels, shops and restaurants each year are awakening to the possibility they might be gone indefinitely. It will challenge governments to find new and more sustainable sources of growth.

Foreign banks’ China honeymoon ends early

13 Jun 2022

Regulators want international banks to reduce pay and stretch bonus periods, Bloomberg reports, making it harder for them to compete for onshore talent as offshore listings slump. Those who predicted Beijing would keep leveling the finance playing field may have to reconsider.

South Korea steps up to a fearful new world

13 Jun 2022

A new pro-business president, receding Covid-19 risks and rising clout in supply chains have infused local companies with newfound confidence. Many, led by giants like Samsung, are charging abroad. The optimism should pay off, even as fresh economic and global threats loom.