Nov 13, 2013 07:44 UTC

Four ways to tell China is serious about markets

Photo

By John Foley 

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

China’s new buzzword is “decisive”. That’s how the ruling party described the role it wants markets to play in the economy. It’s hard to see whether it’s more than just talk. But there are four visible ways to tell whether China means business.

Nov 13, 2013 03:46 UTC

Japan index: Risks to GDP growth recede

Photo

By Andy Mukherjee

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Breakingviews’ Abenomics Index rose the most in six months in September. The gain would have been higher but for Japan’s unusual current account deficit. Higher revised values for July and August suggest the risk of a significant slowdown in third-quarter GDP growth has ebbed.

Nov 12, 2013 08:03 UTC

Asian tsunami offers lessons for Philippine repair

Photo

By Andy Mukherjee 

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The Philippines could learn some lessons from the Indian Ocean tsunami. Like the 2004 tidal wave, typhoon Haiyan has caused death and destruction. The next challenge is to manage the economic distortions caused by rebuilding.

Nov 11, 2013 08:01 UTC

Doubly dysfunctional press hinders China cleanup

Photo

By John Foley

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Graft hurts growth; transparency helps. It sounds simple, but in China, the arrest of a domestic journalist for defamation and heavy-handed treatment of foreign news organisations suggest the message isn’t getting through. A free press can’t make corruption go away on its own. Without one, however, the economic benefits of any clean-up will be limited.

Nov 11, 2013 05:30 UTC

White male banker jabs at finance’s glass ceiling

Photo

By Peter Thal Larsen

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

A white male banker is trying to tackle the finance industry’s glass ceiling. HSBC chief executive Stuart Gulliver has spent the past few years trying to cut costs and raise ethical standards. Now he wants the bank to change its culture in order to attract and retain more senior women. Though the insight is hardly new, it’s significant that a male CEO is publicly acknowledging the problem.

Nov 8, 2013 18:12 UTC

Review: Frackers needed long view to make history

Photo

By Christopher Swann
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The revolution in U.S. energy came from an unlikely source, as Gregory Zuckerman recounts in “The Frackers: the Outrageous Inside Story of the New Billionaire Wildcatters.” Tiny drillers like George Mitchell and Harold Hamm persisted with shale while deep-pocketed giants such as Chevron gave up. It was a triumph of leadership over short-term shareholder value.

Nov 8, 2013 12:47 UTC

ECB adds to bubbly markets’ risky lack of fear

Photo

By Ian Campbell

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The European Central Bank rate cut on Thursday is yet another bit of monetary policy loosening. The aim is not to make markets frothy – but that is the result. There may seem no catalyst for bubbles to burst. But the absence of fear is itself a warning.

Nov 8, 2013 02:07 UTC

Suntech casts shadow over China capital raisings

Photo

By John Foley 

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Suntech has gone from solar panel maker to financial black hole. The stricken company is fighting with creditors who want to see it liquidated after it defaulted on interest payments in March. Proposals to sell assets and take Chinese government cash seem unlikely to help investors avoid huge losses. For investors it’s a lesson in what happens when things really go wrong with Chinese companies.

Nov 7, 2013 13:24 UTC

Settling is hard to refuse in EU rates probes

Photo

By George Hay

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Brussels has handed banks a tactical quandary. The European Commission’s antitrust arm is preparing to hand some 5 billion euros of fines to the industry for its now-infamous attempts to manipulate interbank lending rates like Euribor and yen Libor. But some banks aren’t willing to settle. They face a tricky choice: buy peace now, or risk the ire of a powerful regulator – and a possibly larger fine later.

Nov 7, 2013 07:35 UTC

China’s Singles’ Day shows market power of one

Photo

By John Foley

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

China’s retail sector is about to be plunged into collective madness. On Nov. 11, online shoppers are likely to snap up over $4 billion of goods when prices halve in celebration of “Singles’ Day”. Billed as a celebration of unmarried people, the event is actually a cue for massive online discounting. Consumers benefit, but the best deal goes to Alibaba, which reinforces the dominance of its Tmall and Taobao online marketplaces while leaving sellers to do the heavy lifting.