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March 8, 2021
Women are likely to embrace flexible work policies in the post-pandemic new normal. That could threaten prospects for promotion, an earlier study of China’s $24 bln Trip shows. Employers need to manage the bias, or efforts to be enlightened will deliver the opposite result.
March 8, 2021
The Mandarin Oriental owner will pay $5.5 bln to buy out its fellow holding company, unwinding a 1980s-era structure designed to fend off tycoons like Li Ka-shing. A low valuation and cheap funding make it a smart time for the storied Hong Kong trading house to reduce complexity.
March 8, 2021
Crude spiked above $70 a barrel, regaining pre-virus levels. It could climb even higher given OPEC is holding back supply and global policymakers are stimulating economies. But if lofty prices encourage production by those outside the cartel, they may not last that long.
February 22, 2021
The $127 bln aircraft maker run by General Electric alum David Calhoun now has problems with some engines it uses. It comes just as 737 MAX issues are in the rear view. Boeings future is burdened by inertia and a growing debt load. As GE shows, that can take decades to unwind.
February 16, 2021
On the eve of Piraeus Bank’s big recap, the head of the country’s bank bailout fund, HFSF, abruptly resigned. He had championed better corporate governance. The move overshadows welcome Greek banking improvements, including a bad debt cleanup plan and new insolvency code.
February 16, 2021
The e-commerce group might be worth over $50 bln in its New York IPO valued as the former, or about $10 bln as the latter. Coupang is loss-making in a small retail market. Success in new areas like food delivery could justify a premium but the growth outlook deserves caution.
February 15, 2021
Fix Price, the country’s biggest discounter, may list in London and Moscow. It’s growing rapidly, thanks to pressured incomes in its home market and resilience to online rivals. That could justify a price tag of $9 billion, so long as investors shrug off rising competition.
February 8, 2021
Thai Beverage’s move to float 20% of its brewing business has strong echoes of the 2019 IPO of Budweiser’s Asia unit. To reach a mooted $10 bln equity value, it will need to match a bubbly valuation too. But it’s less profitable and Singapore listings aren’t known for froth.
February 4, 2021
The $108 bln bank may relocate the co-heads of its investment bank to Asia. There are good excuses for many financial services giants to avoid putting global chiefs in Hong Kong or Singapore. Given HSBC’s dependency on the region, however, it’s a wonder it has taken so long.
January 19, 2021
The Wall Street firm’s $8.9 bln earnings were buffeted by surging markets and fines for its role in a giant bribery scandal. Underneath it all, Goldman is becoming more efficient. And as a latecomer to retail banking, it is spared the painful impact of falling rates and lending.