Category: Bloomberg

‘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 […]

Credit Suisse Confusion on Costly Trades Adds to CEO’s Woes

Bloomberg Mark Williams, Questrom School of Business Credit Suisse Group AG Chief Executive Officer Tidjane Thiam dropped a bombshell on investors: Caught off guard by a buildup of illiquid trading positions, the CEO said the bank will probably post a second straight quarterly loss as it unwinds the trades and deepens cuts at that business… Expert […]

Chipotle Faces No-Win Scenario as Crisis Taints Its Every Move

Bloomberg Christopher Muller, School of Hospitality Administration Chipotle Mexican Grill Inc. responded quickly when four of its workers called in sick last week with suspected cases of norovirus… Expert quote: “It’s great that they caught it before anybody got sick, but how could it happen again? They’re caught in a very bad cycle.” View full […]

Lockheed, Boeing Chiefs Among Guests at State Dinner for Trudeau

Bloomberg Erik Goldstein, College of Arts & Sciences, Pardee School of Global Studies The chief executives of Lockheed Martin Corp and Boeing Co., who are vying to replace Canada’s aging fleet of fighter jets, both made the guest list for the White House’s State Dinner on Thursday in honor of Canadian Prime Minister Justin Trudeau… […]

The End of the Line for Bolivia’s President

Bloomberg View Kevin Gallagher, College of Arts & Sciences, Pardee School of Global Studies For Bolivia’s Evo Morales, elections have been moments of triumph… Expert quote: “The running joke is that if a Chinese loan is signed in the morning, the shovels will be in the truck by after lunch.” View full article

Spies Who Chased Terrorists Join Banks to Hunt for Rogue Traders

Bloomberg Mark Williams, Questrom School of Business Bryon Linnehan spent more than two years chasing bad guys around Iraq as a U.S. military-intelligence officer… Expert quote: “It’s naive to assume that bank-hired spies would even have the appropriate skill set needed for early detection of fraudulent trading given the sophistication and complexity of such schemes. […]

Xi’s New Title Highlights China’s Power Struggle

Bloomberg Joseph Fewsmith, College of Arts & Sciences, Pardee School of Global Studies A push to designate Xi Jinping as the “core” of China’s Communist Party suggests efforts to strengthen the president’s hand in a year of political maneuvering for top party posts… Expert quote: “If all this is really pointing to the declaration of […]