BUSINESS >> Comments

Merrill Lynch still only a qualified success following acquisition by Bank of America

Buying Merrill Lynch has been a qualified success for Bank of America (BOA). The $310 billion mega-lender bought the Thundering Herd essentially over a weekend in the depths of the 2008 crisis for $50 billion. Merrill's retail brokerage has worked out well. But the merger and acquisition (M&A) and equity franchises have faded under the BOA brand.
Source: Global Times | 2018/9/25 19:03:40

Next financial crisis could be worse than last one

As we mark the 10th anniversary of the collapse of Lehman Brothers, there are still ongoing debates about the causes and consequences of the financial crisis, and whether the lessons needed to prepare for the next one have been absorbed. But looking ahead, the more relevant question is what actually will trigger the next global recession and crisis, and when.
Source: Global Times | 2018/9/25 19:03:40

China can turn adversity of US trade war into spur for industrial upgrading, modernization

US President Donald Trump's latest round of tariffs on China, which took effect on Monday, brings the amount of Chinese goods hit by US protective duties to about $250 billion, roughly half of China's annual exports to the US.
Source: Global Times | 2018/9/24 21:13:40

Europe must redefine partners amid trade tensions

Time after time, countries, companies and people face challenges. There are many different approaches to each problem, and there's no precise formula for success. However, resilience to adversity determines who we are.
Source: Global Times | 2018/9/24 21:13:39

New skills and ethical standards needed for AI era

Artificial intelligence (AI) has become all the rage in today's tech-dominated world, with ample potential benefits from various AI-enabled applications, despite concerns that machines will take over from humans. AI-related topics were hotly debated at the World Economic Forum (WEF) Annual Meeting of the New Champions 2018, which was held in Tianjin last week. In an exclusive interview during the Tianjin event, Global Times reporter Li Qiaoyi (GT) talked to Abi Ramanan (AR), co-founder and CEO of US-based machine learning firm ImpactVision, who is also co-chair of the WEF's Annual Meeting of the New Champions 2018, to seek her input on several major issues that industry watchers are concerned about.
Source: Global Times | 2018/9/24 21:08:39

Aston Martin IPO possibly in too high a gear given looming uncertainties over Brexit

Aston Martin should lose the go-faster stripes. The UK high-end carmaker's pricing range for its October market debut, released on Thursday, implies a maximum equity price tag of 5.1 billion pounds ($6.8 billion). While the manufacturer of James Bond cars has a luxury brand, it's not yet totally suited to the fastest lane.
Source: Global Times | 2018/9/24 19:28:39

Trade conflict backfiring on US workers as overseas investors start to look elsewhere

The founder of Chinese e-commerce giant Alibaba, Jack Ma Yun, has abandoned a promise to create 1 million jobs in the US. His move is just the beginning of bigger-than-estimated job losses in the US triggered by the ongoing trade tensions between China and the US.
Source: Global Times | 2018/9/20 22:23:40

Asia crisis lessons relevant for today's challenges

The Asian financial crisis, which swept through the region two decades ago, had many consequences – currency devaluations, high inflation rates, bursting bubbles and economic downturns. As one of the leading figures behind China's economic affairs at that time, then premier Zhu Rongji adopted appropriate macro-control policies and proactive responses to protect the Chinese financial sector and economy from the crisis' impact.
Source: Global Times | 2018/9/20 19:58:40

SOEs should make more room for private sector in China

Although China pledged at the Third Plenary Session of the 18th CPC Central Committee to allow the market to play a decisive role in allocating resources and to streamline administrative measures and delegate more power to lower government levels, the progress hasn't been entirely satisfactory so far.
Source: Global Times | 2018/9/20 19:52:33

Battle for control of lackluster Australian office group offers investors an easy exit

A bidding war over Australian offices is providing shareholders with an opportunity to move out. US private equity giant Blackstone and the real estate arm of Canadian pension giant OMERS are fighting over Investa Office Fund, a commercial property group with a A$4 billion ($3 billion) portfolio. They are betting on squeezed supply and yields Down Under that remain compelling by global standards. But the target, a lackluster performer to date, has already climbed by a fifth since the frenzy began. Investors may want to consider relocating.
Source: Global Times | 2018/9/20 19:33:40

Improvements in Xinjiang show China's development best steered by own citizens

Tourism in Northwest China's Xinjiang Uyghur Autonomous Region is showing signs of recovery as local authorities stress stability and combat terrorism.
Source: Global Times | 2018/9/19 22:23:41

Why soybeans are a proxy for US-China trade war?

Soybeans have hit the headlines after being caught up in the China-US trade dispute. The tit-for-tat tariffs imposed by the two economic powerhouses have sent US soybean prices plunging to near 10-year lows, creating issues for producers and importers alike.
Source: Global Times | 2018/9/19 22:18:42

China can use monetary policy to ease effects of trade tension

One direct impact from the China-US trade row is greater pressure on exports. The Chinese government has signaled an effort to respond by expanding domestic demand with fiscal measures. However, it is the responsibility of monetary policy rather than fiscal policy to stimulate domestic demand.
Source: Global Times | 2018/9/19 20:18:40

Using Google operating system seems like a good deal for carmakers, but they should be wary

Auto groups are dancing with the tech-giant devil. That should make drivers happier. But Google's push into software for cars looks eerily similar to its highly successful grab for smartphones.
Source: Global Times | 2018/9/19 19:33:42

Trade conflict with US offers chance to further globalize Chinese financial markets

German-based industrial machinery maker KraussMaffei Group is scheduled to list in the Shanghai Stock Exchange by the end of the year, German magazine Euro am Sonntag reported. If listed, KraussMaffei will be the first German company traded on the Chinese mainland stock market.
Source: Global Times | 2018/9/18 23:38:40

China can achieve 8% growth for next two decades

As China became the world's second-largest economy after growing at an annual average rate of about 9.5 percent over the past four decades, last year, socialism with Chinese characteristics has entered a new era. There are many understandings and interpretations about the new era, and here are some of mine.
Source: Global Times | 2018/9/18 23:33:40

Trade pressure can motivate China's development

When people were discussing the global economy at the beginning of this year, there were some optimistic sentiments being expressed. This optimism had a sound basis. Last year, there were widespread signs of growth in the post-financial crisis era, driven by investment and a pickup in industrial production. The Organization for Economic Co-operation and Development noted positive growth in 45 economies, pumping the 2018 global economic growth rate outlook to 3.8 percent. An increase in trade of goods and services was also expected.
Source: Global Times | 2018/9/18 22:13:40

AIG gradually moving on from financial catastrophe but investors remain skeptical

Anyone who has held shares in American International Group since the end of 2007 is still nursing a 95 percent stock-price loss. That's even worse than fellow crisis basket case Citigroup. The insurer is, arguably, finally emerging from a lost decade after receiving a controversial $182 billion US government bailout in 2008. But investors remain wary.
Source: Global Times | 2018/9/18 20:43:40