Category: Bloomberg

China Reforms Head Down Path Littered With Crisis Casualties

Bloomberg Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Studies More than three decades after Deng Xiaoping led Communist China down the path of economic liberalization, its current-day leaders are taking the nation into what may be the trickiest reform stage yet… Expert quote: “History shows that if China prematurely opens the […]

How criminal charges became another day at the office for banks

Bloomberg Cornelius Hurley, School of Law, Center for Finance, Law & Policy The four, and Switzerland’s UBS, which pleaded guilty to a different charge, agreed to pay $5.7bn (£3.6bn) in fines… Expert quote: “Now it’s a non-event. We have trivialised the criminal penalties, so I don’t know what’s left. It used to be that the fear […]

Court Pension Smackdown Toughens Job for U.S. Governors, Mayors

Bloomberg Graham Wilson, College of Arts & Sciences The Illinois Supreme Court’s rejection Friday of a measure meant to make the state’s pensions solvent is the most powerful reminder yet that it’s a brutal time to be the chief executive of a fiscally challenged city or state… Expert quote: “It’s a problem from hell. The […]

Greek Banks Are Having Trouble Trading Foreign Currencies

Bloomberg Mark Williams, Questrom School of Business Greek banks are increasingly being hampered from trading currencies, one of most liquid markets, as international dealers cut back credit lines and costs soar, according to people with knowledge of the trades… Expert quote: “The latest sign the market is attempting to fortify itself against a Greek default […]

Seahawk Wilson, Intel’s Krzanich Among Abe State Dinner Guests

Bloomberg Erik Goldstein, College of Arts & Sciences Seattle Seahawks quarterback Russell Wilson, Star Trek actor George Takei and Intel Corp. Chief Executive Brian Krzanich are among guests from business, entertainment, sports and government invited to join Japanese Prime Minister Shinzo Abe for a White House state dinner on Tuesday… Expert quote: “Guests are selected […]

Fewer CEOs Are Being Fired and That’s Good News for Shareholders

Bloomberg James Post, Questrom School of Business For every company such as Target Corp. or Sanofi that ousted its top executive last year, there were many more like Wal-Mart Stores Inc. and Ford Motor Co. where the transition was planned, saving shareholders billions of dollars… Expert quote: “Investors like stability and predictability where possible. During […]

U.S. Failure to Stop China Bank Unmasks Fight Over World Finance

Bloomberg Kevin Gallagher, College of Arts & Sciences The Obama administration’s vain attempt to prevent allies from joining China’s Asian Infrastructure Investment Bank is feeding a growing perception that U.S. influence in Asia is declining and America is losing its 70-year grip on global economic institutions… Expert quote: “They’re brimming with cash and looking to […]