Takeaways: Surprise! China has lowered rates and Brussels has all-but promised more liquidity. So, that’s currency volatility back to the top of the agenda. Markets are treating these moves as good news – for now. In a few days, they could be read as an indication of the global economy’s dire straits – that’s just the … More From Brussels (and Shanghai) with liquidity
Takeaways: M&A activity usually winds down in summer, but July brought another US$500b+ of deals and August has started in the same vein. Why so active? In low growth markets, M&A – or more precisely a robust approach to capital allocation – is looking like one of the best ways for companies to outperform their … More M&A records hit for six
Takeaway: Of course Greece isn’t out of the woods. We remain convinced that the only sustainable way forward is through debt reconstruction. It’s not off the table, but it’s not on it either. So, whilst this debate remains parked on a hostess trolley in Brussels, we’re going to ask a few questions to help take … More What’s next? Seven questions, six charts and two illuminating deals.
Takeaways: UK companies are issuing more profit warnings now than 2014. It would be easy to blame election stutters, sterling or oil prices, but the struggle to forecast isn’t new. Volatility, price pressure and disruptive influences have proved to be a troubling mix in this recovery – especially when costs are already cut to the … More The future isn’t what it used to be…what next for earnings?
Takeaways: As negative yields spread, the divergence between Euro and dollar borrowing costs becomes more marked. Add the Euro at an 11-year low and it’s no wonder Mr Buffet – and a growing number of his US compatriots – are not only shopping in the European aisles, but borrowing in the Euromarket. Of course there’s … More Feeling negative?
Riding the cycles Takeaways: With Hellenic worries on the back burner, equity markets have flirted with new highs. However, geopolitical machinations continue to provide reality checks and Greece will be back – soon. The commodities sector is obviously still coming to terms with new economic realities. M&A activity dipped in metals and mining again in … More Riding the cycles
Takeaways: Some of the trends for the year discussed last week are already apparent in events during the first weeks of 2015. Innovation is driving IP-centric M&A and divergent economic performances is showing where future stress points may appear.
Takeaways: Last year had its moments, but the last 12 months could look pedestrian compared to 2015. Of course change and even faster growth can bring challenge along with opportunity. Time to wheel out that old, but true, maxim that recovery can be the best, but also the worst of times for companies – and … More Buckle-up! Ten themes for 2015
All I want for Christmas… I’m not sure Santa will be able to deliver everything on central bankers’ lists this year. Mario must be wondering if he’s made the ‘naughty’ list as Eurozone inflation expectations dip again. Haruhiko got an early present in the form of an Abe election win – a green light for … More All I want for Christmas…
Takeways: The impact of dollar and oil trends on divergent emerging markets caught our eye this week. A timely reminder to check and update plans for different geographies and sectors and realign strategies. As with so much these days, past performance is no guarantee of future growth. Although some things don’t change: Greece is the word … More Crude dollar shakedown