Sony Corp. just raised its full-year profit forecasts by single digits. That looks like good news, but it’s not. It’s the lowest mid-year update for the Japanese electronics giant since at least 2016, and there could be more to come throughout the sector. Operating income for the year to March 31 will be 4% higher than its July estimate at ...
Read More »Opinion
At this price, UK’s Telegraph is more than a vanity play
If the owners of Britain’s Daily Telegraph are serious about wanting to sell the publication for a price similar to what they paid for it 15 years ago then they’ll need to make a very convincing argument that it’s a perfect megaphone to influence British politics, especially at this crucial time in the country’s history. No serious media investor is ...
Read More »Will Trump win battle for public opinion?
It increasingly seems that the fate of Donald Trump’s presidency will be settled by that old political standby: public opinion. By all reports, Democrats have more than enough votes in the House of Representatives to impeach Trump — that is, to indict him for “high crimes and misdemeanors” and to send the articles of impeachment to the Senate. This now ...
Read More »Deutsche Bank can’t hide from truth
No one said this was going to be easy. Deutsche Bank AG’s chief executive officer Christian Sewing is trying to shrink his company’s vast trading business and expand in lending, all while global economies sputter. But just three months into a three-year restructuring plan, he may have to rein in expectations of what it will achieve. That’s hardly reassuring. The ...
Read More »Being good enough isn’t good for picky gamers
Video games usually give you infinite attempts to fail and respawn when trying to pass a level. Ultimately, though, you’d rather succeed at the first attempt. And the more time you spend playing just a handful of different games, the better you’ll get at them. That’s much like the gaming industry itself. If Ubisoft Entertainment SA’s latest flagship title proves ...
Read More »US dithered too long on Nord Stream 2
Nord Stream 2, the controversial Russian natural-gas pipeline project, has received the last permission it needs to close the distance between the Leningrad Region and the Baltic coast of Germany. It’s now probably too late for the US to prevent Russia from finishing the project by the end of this year. Nord Stream 2 is part of Russian President Vladimir ...
Read More »India hangs up on future
India’s growth this century has been fuelled by one sector above all: telecommunications. The connectivity revolution has powered India’s information technology behemoths and helped hundreds of millions of young Indians get onto the grid, giving them a chance to improve their prospects. If India is to become the sort of entrepreneurial superstar that its government hopes it will, then the ...
Read More »Tesla is biggest battle on smallest battlefield
Tesla Inc.’s earnings can be viewed as the market’s most intense conflict fought on its smallest battlefield. The third quarter just gone is a prime example. The much-loved and much-shorted stock jumped 28% between last week’s earnings release and October 29 filing of the quarterly 10-Q statement. The $13 billion that added to the market cap was effectively balanced on ...
Read More »Indonesia does its best to scare off investment
If the definition of insanity is doing the same thing over and over and expecting a different result, what is Indonesia playing at? The country announced an immediate halt to exports of nickel ore, sending prices gyrating as traders tried to gauge the impact of a measure that was originally slated for 2022. We’ve been here before: From 2014 to ...
Read More »The inflation mystery
The virtual elimination of inflation is one of the great uncovered stories of our time. If you go back to the 1970s and the early 1980s — a period when, admittedly, many of today’s Americans weren’t alive — surging inflation seemed unsolvable. From 1975 to 1980, the consumer price index (CPI) rose an average 9% a year. There was much ...
Read More »