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  • The rapid rise and fall of the Anbang empire February 23, 2018
    RARELY in corporate history has a giant come and gone so quickly. Anbang was founded in 2004 as a small Chinese car-insurance company. By the start of last year it ranked among the world’s biggest insurers with some $300bn of assets, including stakes in hotels and financial firms across America, Europe and Asia. Given another […]
  • Snap, chatter and pop goes the share price February 23, 2018
    KYLIE JENNER, a model and reality TV star best known for being the, er, second most famous Kylie in the world, managed to cause a stir on Wall Street. With this idiosyncratic tweetsooo does anyone else not open Snapchat any more? Or is it just me...ugh this is so sadshe knocked back the share price […]
  • A pharmaceutical firm bets big on a cancer drug February 22, 2018
    WHEN Ken Frazier, chief executive of Merck, an American pharmaceutical giant, started his job in 2011, he had a hard decision to make. The firm had promising new drugs—such as Januvia, for diabetes, and Gardasil, a vaccine against cervical cancer. But the pharma industry was struggling with dismal returns on R&D and investors were questioning […]
  • Chinese cities are competing to woo overseas entrepreneurs February 22, 2018
    The coffee’s on usWHEN Maria Veikhman, founder of SCORISTA, a Russian credit-scoring startup, was considering expansion abroad, China immediately came to mind. She believes the scope there is vast, for two-fifths of Chinese have no credit records. Ms Veikhman settled in Tianfu Software Park, a state-owned incubator in Chengdu, capital of Sichuan province where city […]
  • The spoils from American corporate tax reform are unevenly spread February 22, 2018
    “IT’S always a lot of fun when you win,” President Donald Trump enthused after his tax package was approved by Congress in December. Company bosses nodded along. The centrepiece of the reform is a drastic cut to the corporate-tax rate, from 35% to 21%, taking it below the rich-country average. Although its impact is partly […]
  • One of Russia’s most successful private entrepreneurs sells–to the state February 22, 2018
    IN THE Russian business community Sergei Galitsky served as a rare example of a self-made billionaire who rose with relatively little state help and outside the natural-resources trade. He built his retail company, Magnit, from scratch into Russia’s largest network; it has more than 16,000 stores. Rather than moving to Moscow, he kept his headquarters […]
  • Europe’s flourishing gunmakers February 22, 2018
    Beretta hits its sales targetIT WAS a blunder by Heckler & Koch, a big German gunmaker. On February 15th the firm apologised for a “mistake” after its American subsidiary posted a Valentine’s image showing a handgun surrounded by ammunition arranged in the shape of a heart. The image went out to social media shortly after […]
  • OPEC mulls a long-term alliance with Russia to keep oil prices stable February 22, 2018
    OIL bears beware. On February 20th Suhail al-Mazrouei, OPEC’s rotating president and energy minister of the United Arab Emirates, said the 14-member producers’ group is working on a plan for a formal alliance with ten other petrostates, including Russia, aimed at propping up oil prices for the foreseeable future. If it comes to anything, it […]
  • Protestantism might be good for the wallet, after all February 22, 2018
    Spirit and fleshCAN religion make people wealthier? In 1905 Max Weber, a German sociologist, argued that it had happened in Europe. Protestants did not invent capitalism in the 16th century, he suggested. But, by discarding monastic asceticism and embracing the notion that diligence and self-improvement are pleasing to God, they became particularly good at it.Weber’s […]
  • Economists cannot avoid making value judgments February 22, 2018
    AMID the name-calling and bluster that mar many fights between economists are a few common tactics. Belligerents may attack the theory used to support a claim, or the data analysis used to quantify an effect. During the debate over President Donald Trump’s tax bill, to take a recent example, economists bickered over which side had […]
  • A banking centre seeks to reinvent itself February 22, 2018
    ON A clear day, sunset over Lake Zug is magnificent. Snow-dusted mountains cut through the orange glow above and are mirrored in the lake below. “Zug is our spiritual home,” says Jeremy Epstein, from Washington, DC, who has just taken 40 foreigners to tour the small Swiss town south of Zurich. They came not for […]
  • Changing the guard at HSBC February 22, 2018
    YOU spend 38 years at a mighty global bank, the last seven as chief executive. As boss you clean up a stinking mess, the legacy of ill-conceived acquisitions and shoddy practice. You shell out billions in fines and legal costs. You shed businesses and cut jobs by a quarter. You build a solid capital base. […]