Breakingviews - Donald Trump wins most insufferable title at Davos
It’s a high bar but Donald Trump has quickly snagged the title of most insufferable man at Davos.
Sergio Ermotti is suffering from either an excess of realism, or a lack of ambition. The UBS chief executive issued relatively vague returns targets for the $46 billion Swiss lender. Unless the bank’s planned expansion in wealth management supercharges its top line, Ermotti or his successor will have to belatedly wield the axe.
2020欧洲杯体育投注网站China’s political system has weak immunity to viruses. A bungled swine flu cover-up doubled pork prices last year. Now a mysterious outbreak of pneumonia is panicking citizens just days before the start of what’s usually a $150 billion spending boom: the lunar new year holiday. President Xi Jinping’s corruption purge may have made officials less venal, but not, apparently, more credible.
2020欧洲杯体育投注网站João Lourenço’s tricky standoff with Africa’s richest woman just went global. Leaked documents on Sunday brought international scrutiny to the $2 billion business empire of Isabel dos Santos, daughter of former leader José Eduardo dos Santos. But the current Angolan president doesn’t necessarily have a free hand to press home his advantage.
2020欧洲杯体育投注网站The World Economic Forum, which kicks off this week in Davos, prides itself on tackling some of the knottiest issues facing humanity. But on at least one front – the rights of gay, lesbian, bisexual and transgender people – the assemblage is uncharacteristically shy.
It might be India's best and hardest financial sector job. HDFC Bank, the $99 billion Indian lender, is gaining market share, defying a widening economic malaise. Aditya Puri, having led the bank for almost three decades, is set to step down by October when his term ends. He will leave on a high note; his successor, however, will inherit a richly valued lender with a lot to lose.
Chinese shadow banking is poised for a comeback. GDP grew 6.0% last quarter, but credit growth disappointed as campaigns to cut bad debt while pushing banks to lend to risky small firms resulted in financial muddle. Informal channels are starting to fill some of the gap for healthier parts of the private sector, but at dangerously high rates.
The battle over Santander’s CEO has given human shape to banking’s fault line. It’s a year since Ana Botin, the Spanish lender’s chairman, reversed her decision to make UBS executive Andrea Orcel the group’s next boss. In the coming months his 112 million euro lawsuit threatens to highlight the clash of cultures between retail and wholesale lending.
The international car boss who fled Japanese authorities is now lambasting Nissan and suing Renault for money due. Breakingviews columnists discuss why the latest twists overshadow the fraying global alliance of three automakers. Also, why China’s Geely wants Aston Martin.
2020欧洲杯体育投注网站China’s reform camp is toasting Wall Street’s trade war win. Beijing has further committed to open its financial sector as part of the so-called phase one of a U.S.-China trade deal signed on Wednesday. The promise to import an additional $38 billion in U.S. services by 2021 follows other liberalisations in the sector, and will mean Chinese institutions could soon face serious American competition. That could benefit both sides.
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