Breakingviews

Fat-tail US legal risk keeps Malaysian scandal hot

July 21, 2016

The Justice Department has alleged over $3.5 bln was siphoned off from 1MDB. The legal details join the dots of the controversy, with plenty of colour. Everyone involved with the sovereign fund, from the Malaysian premier to Goldman Sachs, should feel uncomfortable.

Cox: Dismantling Dodd-Frank is a Trump distraction

By Rob Cox
July 12, 2016

Republicans and their presumptive leader want to overhaul the financial-reform law. Recent stress tests and narrowing funding costs between big and small banks suggest that swapping reliance on regulators for bankruptcy courts is a bad idea, even if Trump knows the latter well.

UK’s tax cut goal: calm business, scare Brussels

July 4, 2016

George Osborne has plans to cut the UK's already-low corporate tax rate to near-Irish 15 pct levels. It might stop domestic business jumping ship post-Brexit. But the prospect of a tax haven UK also acts as a bargaining chip to use in forthcoming exit negotiations.

Chancellor: Brexit can make a stronger, fairer UK

June 28, 2016

The British elected to pop the UK’s bubble economy, which delivers appalling productivity growth and unequally distributed gains. Turmoil unleashed by the vote could put the economy on a sounder footing. As asset prices deflate, the distribution of wealth becomes less unequal.

Cameron exit sends UK towards investability vacuum

June 24, 2016

Prime Minister David Cameron says he will resign. He and his finance minister, George Osborne, stood for competent economic management and stability. Britain lacks obvious replacements who have experience as well as mass appeal. The economy and UK assets will pay the price.

Lesson from Brexit: unthinkable isn’t unpriceable

June 24, 2016

Britain’s referendum decision is an unwelcome blow to an already fragile world economy, but the real change is that it forces companies and investors to reconsider other once-remote risks. A Donald Trump presidency or the break-up of the euro zone may deserve more consideration.

How Europe can contain damage from Brexit

June 24, 2016

There are two ways for the EU to avoid copycat referendums. One is to doggedly insist that free movement and free trade are inseparable. The other is to flex that ideal. Doing so could neutralise populism and avoid a breakup of the euro zone.

Cox: How about a referendum on ending referendums?

By Rob Cox
June 23, 2016

Rather than take hard decisions, politicians are putting issues like Brexit, constitutional reform and even peace treaties directly to the people. How democracy works best is an ancient debate, but plebiscites undermine the representative variety. They’re also bad for business.

Stars may finally align against buyout-baron taxes

June 23, 2016

A group of self-proclaimed “patriotic millionaires” wants to close a loophole that allows private-equity partners to pay lower taxes on investment profit. Clinton and Trump both back the idea, too. Though efforts in Congress have failed for years, fresh momentum is building.

Viewsroom: Facts and fear in Britain’s EU referendum

June 22, 2016

Britons have been inundated with “facts” in the EU vote, but both sides have been accused of playing fast and loose with the truth. Hugo Dixon, founder of Breakingviews and InFacts, talks about the role of evidence in the campaign and outlines his vision for the future of the EU.