Society

Florida has a flood problem and insurance problem

4 Oct 2022

Hurricane Ian could cause insured losses of over $50 billion, making it one of the costliest storms on record. But over 80% of the state’s homes lack flood insurance, and because premiums are skyrocketing, more residents are hitting up the state’s insurance program.

Vodafone’s UK merger plan has cost-of-living catch

3 Oct 2022

The $32 bln telecoms group and Hong Kong’s CK Hutchison are in talks to merge their British operations. A deal could unlock cost savings, but shareholders so far seem unenthused. It may be harder for watchdogs to accept lower competition while customers reel from higher prices.

Silicon Valley’s post-Covid brain drain

27 Sep 2022

Before the pandemic, 75% of venture capital was invested in California, New York and Massachusetts. In this Exchange podcast, AOL co-founder Steve Case explains that a hybrid working revolution is reversing that trend and encouraging permanent investment away from the coasts.

Italy’s right-wing winners inherit poison chalice

26 Sep 2022

Nationalist Giorgia Meloni, EU-sceptic Matteo Salvini and convicted former PM Silvio Berlusconi scored an election victory. Despite campaign unity, they disagree on sanctions and spending. The rivalries risk undermining the high-debt nation’s ability to tackle its energy crisis.

Italy’s first female PM is red flag for workwomen

16 Sep 2022

Ultra-right politician Giorgia Meloni is likely to become the next premier. She opposes boardroom quotas that have lifted female representation from less than 7% to 41% in a decade. Scrapping them would be a setback for a country struggling with stubbornly low female employment.

Italy’s next government has tricky to-do list

13 Sep 2022

A rightist coalition is poised to win Italian general elections this month. In this week’s Exchange podcast Muzinich’s Fabrizio Pagani discusses the next executive’s immediate economic challenges. These include coping with an energy crisis, high public debt and a bailed-out bank.

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.