31 C
Makati City
Monday, February 27, 2017
By Andrew Ross Sorkin So, Stephen A. Schwarzman had another birthday party.  The celebration for his 70th birthday at his Palm Beach, Florida, home over the weekend included live camels, trapeze artists and a performance by Gwen Stefani. Some reports speculated the party cost as much as $20 million, a...
President George W. Bush looked into Vladimir Putin’s eyes and thought he saw his soul. He was wrong. President Barack Obama attempted to “reset” relations with Russia, but by the end of his term in office Russia had annexed Crimea, stirred up conflict elsewhere in Ukraine and filled the power...
Scooter-drivers in bright-green helmets enliven the dusk of rush hour in Ho Chi Minh City, Vietnam’s commercial center. This conspicuous fleet is carrying clients of Grab, a Southeast Asian ride-hailing firm. Its operations, connecting travelers with taxis, private cars and motorbike taxis in six countries, straddle a region that...
When Charlie Brooker, creator of Black Mirror, a television series about the social impact of new technology, goes away for the weekend with his family, his young son occasionally encounters something perhaps too barbaric even for his father’s dystopian show: an old-fashioned television set with channels and a fixed...
By Landon Thomas Jr. Even as global stock markets climb, worries are building among investors that long-simmering debt troubles in Greece and Italy will put additional strain on the euro. Over the past year, aggressive bond buying by the European Central Bank and encouraging signs of economic growth across Europe have...
By Jonathan Soble GIFU, Japan—Liu Hongmei was fed up with her job at a Shanghai clothing factory, where she worked long hours for little pay. So three years ago, she quit to take a job in Japan. A garment factory there promised Liu three times her $430-per-month Chinese wage, and...
By Andrew Ross Sorkin He is the most successful and influential investor you have probably never heard of. His writings are so coveted and followed by Wall Street that a used copy of a book he wrote several decades ago about investing starts at $795 on Amazon, and a new...
By Jack Ewing The chief executive of Deutsche Bank apologized recently, in especially contrite terms, for the long list of misdeeds that tarnished the German lender’s reputation and cost it billions of euros in fines and settlements, adding that bonuses of top managers would be cut. The unusually strong expression of...
By Jeff Sommer The Trump stock market rally has displayed formidable staying power, yet there are reasons to be uneasy. The potential troubles are not bubbling up from the economy or from the market itself, but from the world of politics. That raises ticklish questions for the millions of people who...
By Andrew Ross Sorkin The phone calls flew back and forth among the nation’s top chief executives over the weekend, all asking the same questions: “What are you going to say publicly about Trump’s executive order? And what can we say about it without becoming his next punching bag?” At the...
Washington is in the grip of a revolution. The bleak cadence of last month’s inauguration was still in the air when President Donald Trump lobbed the first Molotov cocktail of policies and executive orders against the capital’s brilliant-white porticos. He has not stopped. Quitting the Trans-Pacific Partnership, demanding a renegotiation...
Donald Trump’s quest to protect American workers from cheating foreigners has begun. In his first flurry of policy tweets and executive orders, however, China, his favorite bogeyman, was conspicuously absent. On the campaign trail he deplored China’s currency manipulation, accused it of flouting global trade rules and threatened a 45%...

How to Build a Nuclear Plant

The Barakah nuclear-power plant under construction in Abu Dhabi never will attract the attention that the Burj Khalifa skyscraper in neighboring Dubai does, but it is an engineering feat nonetheless. It is using three times as much concrete as the world’s tallest building, and six times the amount of...

The Multinationals Retreat

Among the many things that President Donald Trump dislikes are big global companies. Faceless and rootless, they stand accused of unleashing “carnage” on ordinary Americans by shipping jobs and factories abroad. His answer is to domesticate these marauding multinationals. Lower taxes will draw their cash home, border charges will hobble...
By Andrew Ross Sorkin For years, chief executive officers lived in fear they would become a target of the activist investor Carl Icahn. Now, they live in dread of a different and somewhat more unexpected kind of activist: President Donald Trump. As corporate executives around the globe try to understand the...
By Chad Bray British American Tobacco said recently that its sweetened offer to buy the stake in Reynolds American that it did not already own had been accepted, a $49-billion deal that would create a tobacco giant with a significant presence around the world. The purchase would create the world’s largest...
By Michael De La Merced Ownership of one of the world’s biggest publishers is poised to change hands after Pearson said recently that it planned to sell its 47% stake in Penguin Random House, home of John Grisham, The Girl on the Train and Game of Thrones. The most natural buyer...
By Leslie Picker The company name Mars Inc. evokes images of M&M’s, Snickers and Dove chocolate, and possibly Wrigley chewing gum. Soon, a majority of its business will be related to pets, thanks to a $7.7-billion acquisition announced recently. Mars agreed to buy VCA, a company that owns about 800 animal hospitals,...
Prime Minister Theresa May’s speech on January 17 set Britain definitively on a path to a “hard” Brexit, in which it will leave not only the European Union but also the European single market. This was not what the City of London wanted to hear. The prime minister did at...
By Andrew Ross Sorkin "Not only is Donald Trump giving a gang of billionaires control of our government, he’s offering them a special tax break just for signing up.” That was Sen. Elizabeth Warren, Democrat of Massachusetts, last week criticizing what has been called a “loophole” in the tax code that...