In an unsettled time, with an unsettling president, many Americans are unsure of their conception of the world and their country’s role in it. What should the United States be doing – if anything – to shape the global order? To answer this question, we need to better understand ourselves and our history. Americans regularly make three curious – ...
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Infosys generosity falls short of what investors need
Two takeaways from Infosys Ltd’s earnings announcement on Thursday are worthy of note. First, slower growth is here to stay. And second, Infosys has buckets of cash it needs to get rid of. After average annual revenue growth of 17.6% over the past decade, the Indian outsourcing leader grew its top line just 9.7% last year in rupee terms, ...
Read More »Make financial reform about simplicity
President Donald Trump’s top economic adviser — former Goldman Sachs executive Gary Cohn — has come out in favor of a radical reform: restoring the Depression-era Glass-Steagall Act, which for much of the 20th century separated bread-and-butter commercial banking from high-octane investment banking. The thinking behind this proposal is appealing. The basic idea is to narrow the scope of ...
Read More »Escalating tensions between US, N Korea
US Vice President Mike Pence arrived in South Korea at the start of a 10-day trip to Asia a day after North Korea paraded its intercontinental ballistic missiles in a military display in Pyongyang to celebrate the 1912 birthday of Kim Il Sung, North Korea’s founding ruler. Pence Asia trip coincides with the North Korea’s failed missile launch. It ...
Read More »One more thing to blame on senior management!
When I was studying for my doctorate in economics, a friend was studying for his in strategy. When I asked to explain the difference between the two fields, he said it boiled down to one thing — economists assume that companies behave optimally, while strategists try to find ways they can do better. In some corners of the econ ...
Read More »Trump’s Obamacare obsession must die
Another day, another refusal to admit that GOP efforts to repeal and replace the Affordable Care Act (ACA) are dead. In an interview with Fox Business that aired recently, President Donald Trump said it’s been “misreported†that his administration has failed in its efforts reform health care. He suggested that his party’s reforms will result in $900 billion in ...
Read More »Europe’s continental divide is market’s game of risk
Last week and last month and last year we were so close, minutes and moments away, from another Greek debt deal. Every newspaper on the Continent, and every politician quoted in them, told us so. They never said anything else. Consequently, I pay little attention to when they open their collective mouths and repeat the eulogy once again. If ...
Read More »On China, Trump realizes trade and security mix
The news media have been quick to note US President Donald Trump’s embrace of bombing in Syria and the need for NATO as reversals of the foreign policy he advocated on the stump. But he’s made another flip in the past week that’s just as consequential, and possibly more important for his future foreign policy. By asking China to ...
Read More »Billionaires and the government shake up technology in India
Jeff Bezos. Masayoshi Son. Jack Ma. Mukesh Ambani. Some of the world’s richest people also happen to be combatants in the expensive war over the future of technology in India. Bezos’s Amazon.com Inc. and Indian rival Snapdeal, backed by Son, are spending billions of dollars to build e-commerce in India. Alibaba founder Ma has splurged on investments aimed at ...
Read More »Shareholders’ meetings should keep it real
US public companies are moving away from the traditional shareholders’ meeting, opting instead to interact with investors online. Sensible as this might seem in the internet age, it’s important to ensure that it becomes a way to improve — rather than stifle — communication. The annual general meeting is among the most hallowed institutions of American capitalism: an opportunity, once ...
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