Infrastructure dream grounded by Heathrow reality

October 25, 2016

Britain has finally agreed to add a runway to London’s main airport. Even now, the plan may yet founder. Western democracies face challenges when launching big projects. The benefits of a renewed splurge of infrastructure spending will take decades to materialise.

Viewsroom: U.S. election, European banks, Uber-Didi

August 8, 2016

Hillary Clinton and Donald Trump battle over infrastructure needs, while Trump faces growing opposition from fellow billionaires. Also: the ups and downs of Europe's lenders after a stress test with no fail grade, and why Uber is ceding to Didi the ride-sharing crown in China.

Note to D.C.: Jack-hammer away on infrastructure

August 3, 2016

With interest rates at record lows, there's growing support on the campaign trail for rebuilding U.S. roads and bridges. Donald Trump called for at least doubling the $275 bln in spending proposed by Hillary Clinton. To grow jobs, wages and GDP, it's a policy deserving of a deal.

Assault on UK privilege has many possible targets

July 14, 2016

Theresa May wants to focus on more than the "privileged few". If Britain's new prime minister is serious, the most glaring disparities are in pensions, savings, housing and infrastructure. Action in these areas would go some way to healing north/south and young/old rifts.

Aussie port and rail battle defies market gravity

January 28, 2016

Takeover interest has kept Asciano’s stock afloat in falling markets. Now that local rival Qube has formalised its $6.3 bln breakup bid, original suitor Brookfield is under pressure to respond or lose the backing of Asciano’s board. The recent selloff raises the stakes further.

Qube edges ahead in Aussie infrastructure fight

November 26, 2015

Brookfield’s $6.5 bln agreed bid for Australia’s Asciano has hit serious opposition from competition regulators. The Canadian group could yet salvage its takeover. But interloper Qube, whose break-up consortium is already examining Asciano’s books, now looks like the favourite.

No knockout in Australia’s $6 bln waterfront brawl

November 6, 2015

Canada’s Brookfield moved to salvage its takeover of Asciano, buying a 19 pct stake to match last week’s lightning raid by rival Qube. The Aussie challenger could hit back by making a full bid for the ports and rail group. Or antitrust referees could haul Brookfield away.

Brookfield’s Aussie deal faces surprise blockade

October 30, 2015

The Canadian group’s $6.3 bln offer for Australian port and rail group Asciano has been upset by smaller local rival Qube and partners snatching a 20 pct stake. Brookfield cannot sweeten its way out of trouble. Still, some mix of asset sales and co-investments might just work.

China’s road to West is paved with bold intention

April 20, 2015

President Xi Jinping is expected to sign off on a $46 billion corridor between Western China and Pakistan. The transport link may end up as a security nightmare. But the lure of bringing Europe closer and countering India’s clout in South Asia makes it a tempting idea.

China’s world bank has rickety foundations

March 20, 2015

The country’s patchy record of funding big projects at home and abroad hasn’t deterred Western countries from rushing to join its new Asian infrastructure bank. To lure private capital, the body will have to be commercial and transparent. Early signs suggest it will be neither.