WHEN Donald Trump became America’s president nearly a year ago, lobbyists campaigning for protection for the country’s airlines against competition from the Middle East were overjoyed. But they were less happy on December 13th when it was revealed that Donald Trump has decided to hold off on imposing sanctions against the three big Gulf carriers—Emirates… Continue reading Donald Trump holds off hitting the Gulf carriers with sanctions
TEN years ago this month, America entered the “Great Recession”. A decade on, the recession occupies a strange space in public memory. Its toll was clearly large. America suffered a cumulative loss of output estimated at nearly $4trn, and its labour markets have yet to recover fully. But the recession was far less bad than… Continue reading A decade after it hit, what was learnt from the Great Recession?
DIAMONDS, they say, are for ever. They can be pricey, too. On December 5th 173 lots of jewels auctioned by Sotheby’s raised $54m. They included several pieces belonging to Sean Connery, known for playing James Bond. The following day a car favoured by Bond, the Aston Martin DB5, was auctioned for $2.7m. It was among… Continue reading Cars, jewels, wine and watches have been good investments
FOR all the sound and fury of the Brexit negotiations, it has seemed at times as if the financial markets have been barely affected. But as with the swans that glide on the Thames, a serene surface conceals some frantic paddling underneath. The pound is the most reliable indicator of the Brexit mood. A rule… Continue reading The markets’ apparent calm over Brexit is deceptive
THE new “Star Wars” film opens this week. “The Last Jedi” arrives in cinemas in time to boost expected ticket sales for the year to about $11bn in America, only slightly down from last year’s record. But the American film industry is in trouble. Tickets sold per person have declined to their lowest point since… Continue reading Not even “The Last Jedi” will reverse Americans’ retreat from cinemas
DEAR Team, I trust you are looking forward to your vacations and that the spirit of love and generosity infuses your family gatherings. I also hope that this spirit will be left next to the Christmas tree when you return to work at this incredible company on January 2nd. Because 2018 is going to be… Continue reading The Santa clause
THE collapses of Enron and WorldCom in the early years of this century turned book-cooking into front-page news. Investors lost over $200bn; in 2002 the stockmarket fell by over a fifth between April and July. In response, America’s Sarbanes-Oxley Act set up a new body, the Public Company Accounting Oversight Board (PCAOB), to supervise auditors.… Continue reading America’s Public Company Accounting Oversight Board gets a new boss