Breakingviews

Supreme Court slices Wall Street some wedding cake

June 26, 2015

The landmark ruling approving gay marriage gives even banks reason to celebrate. Benefits for same-sex spouses will be far cheaper and easier to grant, enabling stronger competition with more progressive Silicon Valley for workers. It’s a joyous union of equality and utility.

Thruppence: Which woman should grace the $10 bill?

By Breakingviews Columnists
June 18, 2015

The U.S. Treasury will finally put a female face on its money again. Judy Garland, Victoria Woodhull, Amelia Earhart, Rosa Parks, Beyoncé, Edith Bolling Wilson, Rachel Carson, Katharine Drexel, Jane Addams, Eleanor Roosevelt, Melinda Gates, Oprah and Caitlyn Jenner make our list.

Fed might fret about emerging market “spillback”

June 16, 2015

Weak investment and import demand in developing nations is threatening to drag down U.S. growth just as the Federal Reserve mulls raising interest rates. The central bank was able ignore the effects of its bond-buying on others. But a spillback could choke the American recovery.

Anyone have change for a quadrillion dollar bill?

By Edward Hadas
June 12, 2015

The African nation is paying one U.S. dollar for every 35,000,000,000,000,000 of its old scrapped scrip. Zimbabwe is a byword for monetary disaster but the outcome is unusual. It shows it takes truly exceptional incompetence to create hyperinflation.

Return to China tough for American orphan stocks

June 12, 2015

Soaring home markets are prompting Chinese companies to delist from U.S. exchanges. The likes of social network Renren and data centre group 21Vianet may hope for higher valuations in China. But rigid rules make mainland listings harder. Only the unloved will attempt the journey.

Forget ethics, carbon divestment looks profitable

June 11, 2015

Norway’s state fund and insurer AXA are ditching carbon-rich companies. The rhetoric may be ideological, but the economic case against coal and legacy utilities is strong. They face tough challenges, even if political action against climate change remains lacklustre.

Tokio Marine learning lessons in value destruction

June 10, 2015

The 38 pct premium the Japanese insurer is paying in its $7.5 bln purchase of HCC is only half as absurd as in its two previous U.S. deals. Those extravagant forays should give it scope to cut costs. By slicing 15 pct of HCC’s overhead it might even finally make a deal stack up.

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.

Edward Hadas: FIFA and the root of all evil

By Edward Hadas
June 3, 2015

The soccer federation’s corruption shows how much harm abundant money can do to weak institutions. The problem goes well beyond sport. Modern affluence spreads lucre’s poison to everything from drug crime to the perfectly legal but socially destructive spiral of executive pay.

Match-fit FIFA would give players, fans more ball

June 3, 2015

Sepp Blatter has resigned as the besmirched president of soccer’s governing body. Needed reform is now unavoidable. FIFA’s best strategy would be to embrace it by enfranchising the beneficial owners of the sport: the players and the fans. It would also usher in better governance.