How Standard Chartered lost $400mn on risky diamond debt

Businessam StaffSeptember 7, 2017

By Franz Wild, Thomas Biesheuvel, and Stephen Morris Standard Chartered Plc’s plunge into the risky business of diamond lending began eight years ago with a cocktail party at its London headquarters. Maurice Tempelsman, longtime escort of Jackie Kennedy and head of one of the biggest U.S. diamond companies, was there. So was diamantaire Dilip Mehta, […]

For Unilever, Estee Lauder’s not just a pretty face

Businessam StaffAugust 25, 2017

By Tara Lachapelle     Could it be? Finally some enticing takeover speculation to get us through this end-of-summer M&A lull.  Estee Lauder Cos., the $39 billion New York cosmetics giant, is the latest to enter the rumor mill — and the chatter makes a whole lot of sense. Some may think of bygone department stores and […]

Reasons true free trade is key to making Brexit a success

Businessam StaffAugust 24, 2017

By Graeme Leach   Economists for Free Trade was re-launched this week by 16 of Britain’s leading economists to promote the case for true free trade, with zero tariff and non-tariff barriers (note this doesn’t mean zero standards) on imports, in the wake of Brexit. In the wake of the General Election result, we feel there is […]

People start hating their jobs at age 35

Businessam StaffAugust 22, 2017

Jean Prince was 50 when she started working for a U.K. tech company near Cambridge as a technical author, writing software documentation. “I felt extremely lucky,” she said. But she wasn’t happy. “The workplace has become more impersonal and tougher,” she said. “Everyone is performance-managed to death.” She felt underappreciated and unloved. Older workers tend […]

OPEC: The cartel’s last stand?

Businessam StaffAugust 17, 2017

By Grant Smith Since its creation more than half a century ago, OPEC has become the textbook case of a successful cartel. The 14-member club of crude exporters, which pumps 40 percent of the oil used every day, has held immense sway over the price of a critical commodity — and the global economy. OPEC’s obituary has been written many […]

Why is the US dollar falling?

Businessam StaffAugust 14, 2017

The US dollar, long a symbol of American economic might, has fallen steadily this year. The value of the dollar index, which tracks the dollar against six major global currencies, has fallen about 10% since January. It pushed lower on Friday, even as demand for other safe-haven assets – typically a category that includes the […]

The global financial crisis 10 years on: six charts that tell the story

Businessam StaffAugust 13, 2017

It is hard to believe but it is 10 years since the start of the global financial crisis. Triggered by a collapse in the US housing market it caused the deepest recession in living memory and the near-collapse of the financial system. Banks failed, government institutions were bailed out, stockmarkets crashed and countries had to […]

The FTSE in 2017: Six charts that tell the story so far

Businessam StaffAugust 13, 2017

The FTSE 100, 250 and All-Share indices have all made strong gains and reached record highs in the first half of 2017. The strong performance of London-listed shares is somewhat surprising given the backdrop – June’s snap general election arguably left the government in a weaker position going into Brexit negotiations, while household finances are […]

OPEC swings to panic stations

Businessam StaffAugust 12, 2017

OPEC’s job of rebalancing the oil market has just got a lot more difficult. Not only is there a lot more oil in storage than it previously thought, but the group will need to make deeper output cuts to drain the excess. A month ago OPEC oil ministers had probably read the International Energy Agency’s […]