Author Archive: Economist

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China starts unwinding Anbang, its would-be financial giant

China starts unwinding Anbang, its would-be financial giant

“WHEN it comes to the meaning of life, we will all return to zero one day.” So philosophised Wu Xiaohui, a Chinese tycoon, as he reflected on his success in 2015. Little did he realise how soon his words would be proved true. He founded his firm, Anbang, as a small car-insurance company just over […]

March 1, 2018 | By | Reply More
Jerome Powell's game of Kerplunk

Jerome Powell's game of Kerplunk

THERE is an old children’s game called Kerplunk. It is similar in concept to Jenga. Marbles are poured into a plastic tube through which sticks have been threaded. The players take it in turns to remove the sticks with the aim of avoiding the fall of marbles. The normal pattern is for a few marbles […]

February 28, 2018 | By | Reply More
Forecasting congressional votes could yield juicy returns

Forecasting congressional votes could yield juicy returns

STOCK traders hang on central bankers’ every utterance. They scan news sites for market-moving events, such as terrorist attacks, and monitor President Donald Trump’s tweets for hostility towards publicly traded firms. Curiously, though, few analyse goings-on in Congress, which can shift the course of the world’s largest economy. Jonathan Strong, a former reporter (including at […]

February 28, 2018 | By | Reply More
A brawl on a cruise ship raises worries about security at sea

A brawl on a cruise ship raises worries about security at sea

THE cruise industry sells itself as a relaxing way to travel, a world away from the hassle, queues and crime of travelling on land. Yet not all holidays look like the brochure and cruises are no exception. Earlier this month one such voyage, nicknamed the “cruise from hell”, came to a resounding end in Melbourne, […]

February 27, 2018 | By | Reply More
A brawl on a cruise ship raises worries about security at sea

A brawl on a cruise ship raises worries about security at sea

THE cruise industry sells itself as a relaxing way to travel, a world away from the hassle, queues and crime of travelling on land. Yet not all holidays look like the brochure, and cruises are no exception. Earlier this month one such voyage, nicknamed the “cruise from hell”, came to a resounding end in Melbourne, […]

February 27, 2018 | By | Reply More
Money stolen by Bernie Madoff is still being found

Money stolen by Bernie Madoff is still being found

WHEN bankruptcy trustees were appointed over a hectic weekend late in 2008, there seemed no end to the losses caused by the collapse of Bernie Madoff’s Ponzi scheme. Cash in the bank was no more than $150m. But the losses have been less, and the assets available for compensation greater, than had been feared. On […]

February 26, 2018 | By | Reply More
Money stolen by Bernie Madoff is still being found

Money stolen by Bernie Madoff is still being found

WHEN bankruptcy trustees were appointed over a hectic weekend late in 2008, there seemed no end to the losses caused by the collapse of Bernie Madoff’s Ponzi scheme. Cash in the bank was no more than $150m. But the losses have been less, and the assets available for compensation greater, than had been feared. On […]

February 26, 2018 | By | Reply More
The rapid rise and fall of the Anbang empire

The rapid rise and fall of the Anbang empire

RARELY in corporate history has a giant come and gone so quickly. Anbang was founded in 2004 as a small Chinese car-insurance company. By the start of last year it ranked among the world’s biggest insurers with some $300bn of assets, including stakes in hotels and financial firms across America, Europe and Asia. Given another […]

February 23, 2018 | By | Reply More
The rapid rise and fall of the Anbang empire

The rapid rise and fall of the Anbang empire

RARELY in corporate history has a giant come and gone so quickly. Anbang was founded in 2004 as a small Chinese car-insurance company. By the start of last year it ranked among the world’s biggest insurers with some $300bn of assets, including stakes in hotels and financial firms across America, Europe and Asia. Given another […]

February 23, 2018 | By | Reply More
Snap, chatter and pop goes the share price

Snap, chatter and pop goes the share price

KYLIE Jenner, a model best known for being the, er, second most famous Kylie in the world, managed to cause a stir on Wall Street. With this idiosyncratic tweet sooo does anyone else not open Snapchat any more? Or is it just me…ugh this is so sad she knocked back the share price of Snap, […]

February 23, 2018 | By | Reply More