DAVOS, Switzerland (Reuters) – Just as they were getting their swagger back, the global elite stumbled last week on an emerging market sell-off that served as a reminder of the risks the global economy still faces.
Veterans of the annual World Economic Forum in Davos seized on the wobble as a warning that expectations for a smooth upswing were misplaced, and that recovery would likely be volatile and uneven.
DAVOS/LONDON (Reuters) – Top emerging market policymakers moved to allay concerns about their economies on Friday after investors sold off their currencies, raising fears of a broad market rout.
The U.S. Federal Reserve’s plan to gradually withdraw its stimulus has long been expected to lead to a pullout from emerging markets. But the prospect of an economic slowdown in China added to concerns on Friday that emerging markets, particularly those with large current account deficits, may struggle to support their currencies this year.
DAVOS, Switzerland (Reuters) – Buying back L’Oreal’s (OREP.PA: Quote, Profile, Research, Stock Buzz) 9 percent stake in Sanofi (SASY.PA: Quote, Profile, Research, Stock Buzz) could be “very accretive” for the French drugmaker, although the idea remains speculative as the $12 billion holding has yet to be put up for sale, Sanofi’s CEO said.
Investor attention has focused increasingly on a potential realignment of shareholdings that may see Sanofi making a debt-funded repurchase of L’Oreal’s stake in a move analysts believe should boost the pharmaceutical group’s earnings.
Where’s the next macroeconomic landmine? Larry #Summers says world needs a system made safe for “ignorance and error” #WEF14 #reuters
DAVOS, Switzerland, Jan 23 (Reuters) – Takeda Pharmaceutical
, one of Asia’s biggest drugmakers, expects the
appointment of a foreign outsider as its planned next chief
executive will take the 230-year-old Japanese group to the next
level in going global.
Last month’s decision to name Christophe Weber, a Frenchman
who has never worked for Takeda, as chief operating officer and
the intended successor to Yasuchika Hasegawa was seen as a bold
move in an industry that has often looked inward in the past.