Category: Bloomberg

China Silence on Mao’s ‘Catastrophe’ Role Fuels Revival Fear

Bloomberg Joseph Fewsmith, College of Arts & Sciences, Pardee School of Global Studies China’s Communist Party has a deep appreciation for its anniversaries. The 50th anniversary of the Cultural Revolution is one they’d rather not talk about… Expert quote: “The commentary reminds us of the fragility of the legitimacy of the PRC. Xi Jinping has […]

Vietnam Bank Hacking Attempt Shows Weakness of Swift Connection

Bloomberg Mark Williams, Questrom School of Business A foiled hacking attack on a small Vietnamese bank may have been a practice run for an $81 million cyber assault on Bangladesh’s account at the Federal Reserve Bank of New York, and points to vulnerabilities in how banks connect to the Swift interbank messaging system… Expert quote: “The […]

JPMorgan Trading Risk Rose, Rivals Hit Brakes With Markets Amok

Bloomberg Mark Williams, Questrom School of Business Wall Street bank chiefs have vilified the profit-crushing markets that opened 2016 as “challenging” and “exceptionally violent and turbulent.”… Expert quote: “They’ve really dialed back their risk-taking. At the time when they really should be — because of the greater market volatility — jumping in and taking more […]

Deutsche Bank Board Uproar Pits Lonely Lawyer Against Chairman

Bloomberg Mark Williams, Questrom School of Business Georg Thoma, the lawyer, and Paul Achleitner, the financier, worked together for more than two decades modernizing Germany Inc… Expert quote: “The current infighting is simply a reflection of the frustration current board members are feeling as they attempt to clean up the mess caused by earlier bank […]

China’s Xi Shakes Up Rival Power Base Before Party Reshuffle

Bloomberg Joseph Fewsmith, College of Arts & Sciences, Pardee School of Global Studies China’s Communist Party is considering further steps to curb the influence of the Communist Youth League, an organization that President Xi Jinping has criticized for being too aristocratic… Expert quote: “There has been a general curtailing of the CYL, particularly those associated […]

‘Panama Papers’ Shine Uncomfortable Spotlight on Wealth of the Global Elite

Bloomberg Mark Williams, Questrom School of Business From Moscow to Reykjavik to Buenos Aires and beyond, the same two words are suddenly reverberating in financial circles: offshore accounts… Expert quote: “Global offshore money laundering is a multibillion-dollar business and remains alive and well. This leak is proof that despite explicit banking laws against tax evasion, […]

Europe’s Regulators Probe Banks as Shell Company Scandal Spreads

Bloomberg Mark Williams, Questrom School of Business Regulators across Europe are looking into the offshore activities of the banks they supervise after documents leaked from a Panama law firm showed how the rich and powerful, including 12 current and former world leaders, use shell companies to conceal assets, according to a report by the International […]