Olaf's Feed
Aug 7, 2015
via Breakingviews

Allianz takes Pimco’s fall from grace in stride

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

Pimco may not have emerged from the shadow of larger-than-life founder Bill Gross, who left the world’s biggest bond fund abruptly in September 2014. But its German owner Allianz can take Pimco’s fall from grace in its stride. The group’s half-year results suggest its insurance division and a growing in-house asset manager are taking up the slack.

Aug 7, 2015
via Breakingviews

Allianz takes Pimco’s fall from grace in stride

Photo

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

Pimco may not have emerged from the shadow of larger-than-life founder Bill Gross, who left the world’s biggest bond fund abruptly in September 2014. But its German owner Allianz can take Pimco’s fall from grace in its stride. The group’s half-year results suggest its insurance division and a growing in-house asset manager are taking up the slack.

Aug 5, 2015
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Best chapter in Pearson breakup story yet to come

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

The best chapter of Pearson’s breakup is yet to be written. Selling a 47 percent stake in book publisher Penguin Random House to co-owner Bertelsmann might generate twice as much as the Financial Times, which the UK group parcelled off to Japan’s Nikkei for 844 million pounds (1.2 billion euros) last month. Chief Executive John Fallon can unshackle himself from the publisher of “Fifty Shades of Grey” as early as October, when a lockup ends. Yet it makes sense to wait.

Aug 5, 2015
via Breakingviews

Best chapter in Pearson breakup story yet to come

Photo

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

The best chapter of Pearson’s breakup is yet to be written. Selling a 47 percent stake in book publisher Penguin Random House to co-owner Bertelsmann might generate twice as much as the Financial Times, which the UK group parcelled off to Japan’s Nikkei for 844 million pounds (1.2 billion euros) last month. Chief Executive John Fallon can unshackle himself from the publisher of “Fifty Shades of Grey” as early as October, when a lockup ends. Yet it makes sense to wait.

Jul 16, 2015
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Schaeuble looks immune to Varoufakis-style exit

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

Like his former Greek colleague Yanis Varoufakis, Wolfgang Schaeuble has become a liability for the euro zone. In the runup to a Greek deal on July 13, Germany’s finance minister temporarily made a Greek exit from the single currency into an official policy option. Afterwards, he openly mused that the agreement should have been different. Schaeuble is not the man to lead future negotiations – but that doesn’t mean he won’t.

Jul 16, 2015
via Breakingviews

Schaeuble looks immune to Varoufakis-style exit

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

Like his former Greek colleague Yanis Varoufakis, Wolfgang Schaeuble has become a liability for the euro zone. In the runup to a Greek deal on July 13, Germany’s finance minister temporarily made a Greek exit from the single currency into an official policy option. Afterwards, he openly mused that the agreement should have been different. Schaeuble is not the man to lead future negotiations – but that doesn’t mean he won’t.

Jun 29, 2015
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Capital controls hit Greek economy at worst time

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

Capital controls have hit the Greek economy at just the wrong time. A week-long closure of Greek banks, announced on June 28, would have been bad for Athens at any time of year. But the restrictions are coming in just as the country’s core export sector – tourism – begins its peak season.

Jun 29, 2015
via Breakingviews

Capital controls hit Greek economy at worst time

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

Capital controls have hit the Greek economy at just the wrong time. A week-long closure of Greek banks, announced on June 28, would have been bad for Athens at any time of year. But the restrictions are coming in just as the country’s core export sector – tourism – begins its peak season.

Jun 11, 2015
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Forget ethics, carbon divestment looks profitable

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

As long as it was just the pension funds of the Church of England or Stanford University announcing to ditch investments in fossil fuel companies, it was easy to shrug off the trend as feel-good investing. Not anymore, now that Europe’s second-largest insurer AXA and Norway’s $880 billion sovereign wealth fund are doing the same.

May 29, 2015
via Breakingviews

German job miracle keeps defying gloom-mongers

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

Germany’s labour market is defying orthodox economic wisdom. For years, most mainstream economists warned that a proposed minimum wage of 8.50 euros per hour would price up to a million workers out of their jobs. But so far the wage floor, which came into force in January, has not stopped Europe’s largest economy from churning out additional jobs.

    • About Olaf

      "Olaf is a London-based columnist covering Germany, the euro zone and economics. He joined in November 2012 from Handelsblatt, Germany's business and financial daily. Olaf co-authored the award-winning book "Economics 2.0 – What the Best Minds in Economics Can Teach You About Business and Life" and wrote the book "Die Jahrhundertkrise". In 2012, he received the Friedwart Bruckhaus Award of Germany's Hanns Martin Schleyer-Foundation. Follow Olaf on Twitter: @OlafStorbeck"
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