Right-wing populists like Italy’s Matteo Salvini and France’s Marine Le Pen love to bash the EU as an elitist project that’s out of touch with the general public. Le Pen dreams of abolishing the European Commission, which she considers undemocratic, while Salvini says “bureaucrats and bankers†control Europe. This is all largely grandstanding; both of these leaders have had to ...
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With another massive win, this is Modi’s India now
After a long and arduous election, with months of campaigning and voting spread over seven phases, India’s 879 million voters have spoken. And, if not with one voice, then close to it. The Bharatiya Janata Party of Prime Minister Narendra Modi has been handed another historic mandate. Modi’s 2014 victory was already record-setting — the first time a single party ...
Read More »Germany flirts with financial nationalism
The abandoned merger between Deutsche Bank AG and Commerzbank AG is forcing the two lenders to reconsider their future strategies. Commerzbank, in particular, might be a tempting target for rivals across the continent who want to build their presence in Germany. If there were a suitable offer, German government – which owns 15.5% of Commerzbank – should be prepared to ...
Read More »Uber Eats needs to deliver more than ever
Uber Technologies Inc. is many things: a ride-hailing company, a gig economy beneficiary, a symbol of Silicon Valley’s venture capital largess (and excesses), to name just a few. But Uber has yet another less-discussed identity that, in these early days after its public market debut, should figure significantly in your perception of its prospects. Through its Uber Eats food delivery ...
Read More »What’s Trump’s plan for Iran? Nobody knows
In any tense military confrontation, diplomats start looking for an “off ramp†that could de-escalate tensions. But in the current standoff between the United States and Iran, it’s hard to find any such exit route. The US-Iran faceoff is one of those odd situations where both players appear eager to set off sparks, although neither seems to want a raging ...
Read More »What trade war means for Macy’s
Macy’s Inc.’s turnaround efforts didn’t backslide in the first quarter. The department store behemoth reported that comparable sales rose 0.6% from a year earlier in the first quarter, or 0.7% including licensed departments. That increase surpassed analysts’ expectations and set the retailer on track to easily achieve its full-year guidance of 0% to 1% growth on this measure. Adjusted earnings ...
Read More »Ghosn got one thing right about Nissan
Looks like deposed car executive Carlos Ghosn was right after all: Nissan doesn’t care about shareholder value. Nissan Motor Co. last week reported dismal earnings and gave an even grimmer outlook. Still worse: The company said it would slash its dividend by 30%. Chief Executive Officer Hiroto Saikawa then proceeded to talk about fanciful ideas of improving governance and the ...
Read More »The populist threat to Europe’s future
The European Union (EU) is under siege. In elections from Sweden to Spain, right-wing populists continue to gain strength, while support for traditional parties withers. Populist groups expect to make sizable gains in this week’s elections for the European parliament — giving them more power than ever before over the institutions at the heart of the EU. Europe’s cohesion hangs ...
Read More »UK’s Boris Johnson gets his chance to fail too
This time it’s for real. Theresa May didn’t exactly say when she would leave 10 Downing Street, but she promised to name her exit date in early June. The question is what difference changing leader will make for the Conservative party. After a potentially messy leadership contest (one is already underway), the party will likely rally behind a new chief ...
Read More »There’s still hope on China trade, but Trump confuses it
Even the most committed free-traders have to admit that tariffs and the threat of tariffs can prod other countries to make needed reforms. That outcome is still possible in the American trade war with China, and it’s the one to root for. But our thinking about this conflict suffers from misconceptions that bias us towards President Donald Trump’s tariff-centered strategy. ...
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