Author Archive: Economist

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Donald Trump holds off hitting the Gulf carriers with sanctions

Donald Trump holds off hitting the Gulf carriers with sanctions

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 […]

December 15, 2017 | By | Reply More
America’s Public Company Accounting Oversight Board gets a new boss

America’s Public Company Accounting Oversight Board gets a new boss

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. […]

December 14, 2017 | By | Reply More
Companies in the region vote with their feet against political uncertainty

Companies in the region vote with their feet against political uncertainty

Employees, customers, separatists “WE ARE used to dealing with political crises, but not a break in the rule of law,” says the boss of a big Barcelona cement firm, of Catalonia’s constitutional crisis. Fearing separatists in the region would declare independence, as they did on October 27th, he shifted its headquarters to Madrid. That ended […]

December 14, 2017 | By | Reply More
An accounting scandal sends Steinhoff plummeting

An accounting scandal sends Steinhoff plummeting

Steinhoff goes on special offer THE scale is staggering, even by the standards of scandal-worn South Africa. Steinhoff, a retailer that is one of the country’s best-known companies, admitted to “accounting irregularities” on December 6th when it was due to publish year-end financial statements. Its chief executive, Markus Jooste, resigned, and the firm announced an […]

December 14, 2017 | By | Reply More
Not even “The Last Jedi” will reverse Americans’ retreat from cinemas

Not even “The Last Jedi” will reverse Americans’ retreat from cinemas

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 […]

December 14, 2017 | By | Reply More
American business has concerns on tax reform

American business has concerns on tax reform

PRESIDENT DONALD TRUMP’S effort to change America’s tax code is approaching the finishing line. Republican negotiators from the Senate and the House of Representatives this week hashed out a consensus bill behind closed doors. On December 13th, Mr Trump expressed confidence that he would be able to sign the reform into law before Christmas. The […]

December 14, 2017 | By | Reply More
The Santa clause

The Santa clause

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 […]

December 14, 2017 | By | Reply More
The global property business tries to adapt to e-commerce

The global property business tries to adapt to e-commerce

Stores of value FIFTH AVENUE in New York is the most expensive stretch of retail property in the world, now festooned with lights in the approach to Christmas. The pavements heave with crowds eager to see the diamonds sparkling at Tiffany & Co, a jeweller, and festive displays at Saks Fifth Avenue, a department store. […]

December 14, 2017 | By | Reply More
A decade after it hit, what was learnt from the Great Recession?

A decade after it hit, what was learnt from the Great Recession?

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 […]

December 14, 2017 | By | Reply More
Oil and gas supply disruptions ripple around the world

Oil and gas supply disruptions ripple around the world

The Baumgarten blast CALL it the hydrocarbon equivalent of the butterfly effect. As oil and gas supplies tighten during the northern winter, disruptions as remote as a hairline fracture on a piece of Scottish pipeline, and an explosion in an Austrian natural-gas plant, have repercussions felt around the world. Start with the pipeline. After Ineos, […]

December 14, 2017 | By | Reply More