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Renault-Nissan-Mitsubishi has become the world’s biggest carmaker

Renault-Nissan-Mitsubishi has become the world’s biggest carmaker

Finance
RENAULT unveiled the EZ-GO, a concept for a robotaxi, at the Geneva motor show, which opened on March 5th. Nissan, in conjunction with DeNA, a Japanese software firm, recently began trials of driverless taxis in Japan. The two companies are pursuing their own paths towards the future of mobility. Yet both are bound together in a close alliance, which celebrates its 20th anniversary next year. In 2016 they were joined by Mitsubishi. Last year the trio sold 10.6m cars between them, one in every nine worldwide.It is a unique carmaking liaison, neither a full merger nor as loose as the many tie-ups forged to spread the cost of developing pricey pieces of technology. Each firm remains autonomous but shares a growing number of links in the supply chain with the other two. It all looks hugely suc...
Beware of performance figures

Beware of performance figures

Finance
GOLFERS are familiar with the concept of a “mulligan”—the chance to retake a shot. Give an averagely talented player enough mulligans and he or she will get one close to the hole. And a version of the mulligan exists in fund management too.Readers will be familiar from past blog posts with the idea that actively managed funds cannot be relied upon to beat the index. Many of these studies are conducted in the US market, which is probably the most efficient (and thus hardest to beat) in the world. But the same is true in Europe.Get our daily newsletterUpgrade your inbox and get our Daily Dispatch and Editor's Picks.Figures from S&P Dow Jones Indices show that, over the ten years to December 2017, less than 15% of euro-denominated European equity funds beat their benchmark; for emerging m
There is a political war brewing in Washington over Trump's apparent desire to 'punish' Beijing

There is a political war brewing in Washington over Trump's apparent desire to 'punish' Beijing

Finance
A day after President Donald Trump slammed South Korea last week for benefiting unevenly from its trade relationship with the US, the largest American business association shot back.Embedded in an article the US Chamber of Commerce published to commemorate the sixth anniversary of the US-Korea Free Trade Agreement, also known as KORUS, was a video that slammed anyone calling for the pact's demise.KORUS "represents a rules-based economic order that goes hand in glove with the mutual defence treaty that has supported regional stability in the Asia-Pacific since the end of the Korean war," the chamber said.More from the South China Morning Post :A nasty US-China fight is inevitable. But it needn't be terminalChina 'doesn't want a trade war' with US, as sides agree to more talks in Beijing soo...
Banks Board Bureau has some key suggestions for PSBs

Banks Board Bureau has some key suggestions for PSBs

Finance
The Banks Board Bureau (BBB), headed by Vinod Rai, completes two years on March 31. The government says it has no plans to scrap the bureau but there is no clarity on its role going ahead. BBB has released a compendium of its recommendations on reforms at public sector banks (PSBs) in a report that also cites a lack of engagement with the agency by the government. Here are some of its key suggestions:APPOINTMENTS* Ownership-neutral guidelines for appointment to boards of banks * Boards should be empowered to appoint part-time/non-executive directors COMPENSATION*Delink bank compensation from those of civil servants; introduce performance-based compensation * Short-term variable salary component * Long-term component of stock options PERFORMANCE ASSESSMENT* Relative performance rating (RPR...
Banks Board Bureau backs RBI, says govt still to act on its recommendations on PSBs

Banks Board Bureau backs RBI, says govt still to act on its recommendations on PSBs

Finance
NEW DELHI: Days before its term ends, the Banks Board Bureau (BBB), led by former comptroller and auditor general Vinod Rai, has said that several of its recommendations were lying with the government and pitched for widening its mandate and greater dialogue over restructuring of public sector banks (PSBs). It also pointed out that the RBI does not have powers to regulate PSBs the way it does with private banks. The statement from BBB, in a report made public on Monday, is in line with the recent stance taken by RBI governor Urjit Patel, who had suggested that the regulator did not have sufficient powers to regulate public sector players, something that the gover nment has contested. “Everyone wants more powers saying they do not have enough. The only power available to us is to appoint