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Bloomberg The world’s biggest app stores are facing increasing pushback by developers over the high costs they charge for connecting their games with users — and new gaming platforms are looking to swoop in. Tallinn-based Ultra will take 15 percent from sales it generates through its digital store, in a bid to challenge companies such as Alphabet Inc.’s Google, Apple ...
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September, 2018
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16 September
Theresa May could try a leisurely Brexit stroll
The Brexit-battered pound jumped for joy when European Union (EU) trade negotiator Michel Barnier told an audience in Slovenia that a finalized divorce agreement between the UK and the EU is ‘realistic’ in six to eight weeks. That doesn’t mean that we can all exhale by November. The divorce deal – which dictates the amount the UK will pay into ...
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16 September
BA isn’t anybody’s favourite airline
It’s lucky for airline executives that they’re a well-paid bunch, because when things go wrong the job’s a living nightmare. Besides the ever-present, low-level risk of a tragic accident, the complexity and customer-facing nature of aviation means that any operational snafu can become a crisis that dominates news coverage for days. Alex Cruz knows this only too well. Since being ...
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16 September
Fear of another Lehman made banking too boring
As bad as the 2008 crisis was, the cure could be worse. After Lehman Brothers fell and the US government stepped in to rescue finance from its worst instincts, many demanded that banking become “boring†again. Stolid lending, it was argued, was what banking should be all about. It’s time to recognize that this was a mistake. Finance is indeed ...
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16 September
It’s not a Trump boom, it’s an oil and gas boom
President Donald Trump has gone so far as to suggest that he possesses “a magic wand†capable of producing unexpectedly robust economic growth. I don’t know about a magic wand. But Trump is right about the strong economy: This is a genuine boom. And the greatest threat to it is the president’s policy agenda. First, give credit where it is ...
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16 September
Why India should let its citizens’ data roam free
India has a long history of drafting laws to protect its companies. In the process, Indians themselves often suffer. That’s precisely what will happen if the government proceeds with plans to force companies doing business in India to store all customer data locally. The first salvo in this campaign was fired in April, when the Reserve Bank of India (RBI) ...
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16 September
Bankers can’t tilt at merger windmills
Let European banks merge – in the name of the resistance. That was the unspoken message from former Deutsche Bank AG CEO Josef Ackermann, who told Bloomberg Television that US banks’ global dominance in the era of Donald Trump should stir Europe’s banks into joining forces and gaining scale. He urged regulators to help. As if on cue, more names ...
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16 September
How the US has made a weapon of the dollar
Convinced of an existential threat from competitors, America is weaponizing the dollar to preserve its global economic and geopolitical position. While the US accounts for about 20 percent of the world’s economic output, more than half of all global currency reserves and trade is in dollars. This is the result of the 1944 Bretton Woods agreement, the effect of which ...
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16 September
Philippine peso looks to remittances to stem slide
Bloomberg The embattled Philippine peso needs a break and it may soon get one. More than 10 million overseas Filipinos are preparing to send record amounts of money home for the Christmas and New Year holidays — a period when remittances pick up — with analysts from MUFG Bank Ltd. and Standard Chartered Plc saying those funds will help ease ...
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16 September
Credit Suisse heralds calmer years ahead as restructuring ends
Bloomberg Tidjane Thiam is looking forward to things getting back to normal. In an interview with Swiss newspaper NZZ am Sonntag, the chief executive officer of Credit Suisse Group AG said the bank is now targeting “business as usual†after years of restructuring. “Over the past three years we worked day and night to deal with our legacy from the ...
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