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The tumultuous career of Patrick Drahi

The tumultuous career of Patrick Drahi

WHAT does France’s corporate establishment make of the change in fortunes of Patrick Drahi, a telecoms billionaire who achieved brief greatness before crashing to earth? In August he was reported to be planning a $185bn bid for Charter Communications, America’s second-largest cable operator, which is part-owned by John Malone, a famous cable investor. This month […]

November 23, 2017 | By | Reply More
A purge of Russia’s banks is not finished yet

A purge of Russia’s banks is not finished yet

Elvira’s mad again WHEN Elvira Nabiullina took over the governorship of the Russian Central Bank (CBR) in 2013, she faced a bloated and leaky finance sector with over 900 banks. Since then, more than 340 have lost their licences. Another 35 have been rescued, including, in recent months, Otkritie, once the country’s biggest private lender […]

November 23, 2017 | By | Reply More
Sustainable investment joins the mainstream

Sustainable investment joins the mainstream

IN 2008, when she was in her mid-20s and sitting on a $500m inheritance, Liesel Pritzker Simmons asked her bankers about “impact investing”. They fobbed her off. “They didn’t understand what I meant and offered to screen out tobacco,” recalls the Hyatt Hotels descendant, philanthropist and former child film star. So she fired her bankers […]

November 23, 2017 | By | Reply More
How tech giants are ruled by control freaks

How tech giants are ruled by control freaks

THIS month Schumpeter visited the Barnes Foundation, a gallery in Philadelphia full of paintings by Picasso, Matisse and Van Gogh. Albert Barnes, born in 1872, is notable for two things. He made a fortune from an antiseptic that cured gonorrhoea. And he stipulated exactly how his art collection should be posthumously displayed. The result is […]

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The last media mogul stuns his industry with talk of selling

The last media mogul stuns his industry with talk of selling

THE only media mogul still bestriding his industry in old-fashioned style is used to being a predator rather than prey, a builder of empires, not a dismantler of them. So Rupert Murdoch’s reported willingness to sell off much of 21st Century Fox, whether to a rival such as Disney or to a distribution firm like […]

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Does Hong Kong’s Octopus card have too many tentacles?

Does Hong Kong’s Octopus card have too many tentacles?

Your extensible friend IN 1997, two months after Hong Kong reverted to Chinese sovereignty, it acquired a cutting-edge payment technology. People could rush through turnstiles with a wave of their colourful Octopus cards—stored-value cards pre-loaded with cash. Its latest advance, however, is risibly low-tech. On October 30th Octopus launched an extensible pole with a plastic […]

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Wealth inequality has been widening for millennia

Wealth inequality has been widening for millennia

THE one-percenters are now gobbling up more of the pie in America—that much is well known. This trend, though disconcerting, is not unique to the modern era. A new study, by Timothy Kohler of Washington State University and 17 others, finds that inequality may well have been rising for several thousand years, at least in […]

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Malaysia’s AirAsia X posts Q3 loss on rising costs

Malaysia’s AirAsia X posts Q3 loss on rising costs

KUALA LUMPUR: AirAsia X Bhd posted today a net loss for the third quarter versus a year-ago profit, as the long-haul low-cost carrier bore higher costs and lower unit revenue leading to operating losses in its biggest markets — Malaysia and Thailand, Reuters reported. For the July-September period, the airline reported a net loss of […]

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Maybank Islamic launches Rent-to-Own housing scheme, first by a Malaysian bank

Maybank Islamic launches Rent-to-Own housing scheme, first by a Malaysian bank

KUALA LUMPUR: Maybank Islamic, which plans to roll out its rent-to-own scheme named HouzKEY to the public in the first quarter of next year, is eyeing a portfolio size of RM1 billion within the first year. The bank has partnered with five developers namely SP Setia, EcoWorld, Mah Sing, Gamuda and Sime Darby for its […]

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Petronas forecasts higher 2017 earnings after strong Q3 results

Petronas forecasts higher 2017 earnings after strong Q3 results

KUALA LUMPUR: Government-owned Petroliam Nasional Bhd, or Petronas, today forecast higher full-year earnings for 2017, after posting a 64% jump in third-quarter profit on improved oil prices. A higher profit would be the second straight year of improved earnings at Petronas, reversing a two-year profit slump with the help of a modest recovery in oil […]

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