Breakingviews

Rob Cox: The world’s hardest central bank job

July 16, 2015

It’s not Yellen’s, Draghi’s or Kuroda’s. Russian central bank chief Elvira Nabiullina faces a unique bouquet of challenges. On top of a weak oil price and ruble, nettlesome inflation and Western sanctions, there’s Vladimir Putin. Under the circumstances, she deserves a medal.

Rob Cox: Russia sanctions’ unintended consequences

June 9, 2015

Russian cheese production is booming. So are Putin’s approval ratings. Relations with China have never been better. Free-market entrepreneurs are being financially squeezed while the Kremlin and its banks coddle state-owned enterprises. This can’t be what the West hoped for.

Thruppence: Should World Cup hosts foot FIFA woes?

By Breakingviews Columnists
June 5, 2015

U.S. authorities are investigating how soccer’s governing body awarded the event to Russia and Qatar. As FIFA’s problems proliferate beyond graft indictments, Breakingviews columnists debate whether it is fair or practical to deprive host countries of the sport’s global fiesta.

Rob Cox: If FIFA were a country it would be Russia

June 2, 2015

The soccer federation run by Sepp Blatter and the Russian one headed by Vladimir Putin operate as baroque patronage systems, their bosses doling out favors from the center. Power derives from keeping constituents both fragmented and well heeled.

Rob Cox: Pirelli flirts with joke version of hell

March 26, 2015

That’s where the chefs are British, the lovers Swiss and the mechanics French. Pirelli risks becoming the corporate equivalent: the management Italian (as in the joke), its owner a Chinese state enterprise, and other partners Russian. Minority investors won’t find it funny.

Review: Money, theft and death in Putin’s Russia

By Edward Chancellor
March 6, 2015

Bill Browder's grandfather was an American communist. The grandson ran a hedge fund which profited during the chaos under Boris Yeltsin. But Browder did not reckon with the hard men of the Putin regime. His book offers some sobering lessons for investors in emerging markets.

Others will join hryvnia and rouble in FX sin bin

By Edward Hadas
February 6, 2015

Ukraine’s currency plunged 30 pct in a day. Russia’s is down by half since July. Both are stuck in vicious circles, where local inflation and devaluation reinforce each other. In a disinflationary world where capital is flighty, others could easily fall into the same spiral.

Putin, Piketty and Draghi hit Davos in spirit only

January 23, 2015

Political and financial leaders attending the World Economic Forum’s 45th annual meeting are buzzing about rampant inequality, the ECB’s quantitative easing and Russia’s conflict with Ukraine. All that’s missing from the Alpine retreat are the three provocateurs of the debates.

Ukraine crisis forced into suspended animation for 2015

By Pierre Briancon
December 29, 2014

Markets worried about Europe’s economy in 2014. They will worry about Europe’s security in 2015. EU sanctions over Ukraine will weigh heavily on Russia’s economy. A lot depends on Vladimir Putin, but Europeans need to define what they want sanctions to achieve.

Stick with BRIC

By Edward Hadas
December 23, 2014

It’s easy to mock the idea that the four biggest emerging markets – Brazil, Russia, India and China – will reshape the world economy. But the balance is still moving their way, even with slowdowns and Russian turmoil. Markets say otherwise because they were too keen at first.