Financial Times

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The misguided logic of a robot income tax

Bill Gates thinks robots should pay income tax to reduce the negative impact they could have on human workplaces and jobs.<p>As he told Quartz earlier …

Robots

Snap AV: For Mexico, a Trump hedge

The reference is to Banxico action overnight. The Mexican central bank is to offer up to $20bn of currency hedges in a move to protect the battered …

Further reading

<b>Elsewhere on Wednesday,</b><p>– When financial car loan inclusion means total banking intrusion.<p>– The four fallacies of warfare, according to Donald Trump’s …

FT Opening Quote: Lloyds Banking Group doubles pretax profit

Lloyds Banking Group doubles pretax profit, profits up at Hays and strong growth for Metro Bank. FT <i>Opening Quote,</i> with commentary by <b>Matthew Vincent</b>, …

Snap AV: Is India’s demonetisation supporting the rupee?

Future historians may eventually conclude the most significant event of 8 November 2016 was the Indian government’s decision to scrap most of its …

Economics

Guest post: Greek Debt and that Sharp Bite in the Backside

<i>In this guest post, law professors Mitu Gulati and Mark Weidemaeir discuss how the latest Greek government debt negotiations might involve</i> …

Greece

Snap AV: Rising number of auto-loan defaults “not a macro problem”

Torsten Slok from Deutsche Bank takes a look at rising default rates on subprime auto loans, and makes the case that it’s not necessarily a broad …

Banking

Guest post: How banks work with thinking machines

<i>This guest post on intelligent automation is from Axel Lehmann, group chief operating officer at UBS.</i><p>______________<p>Banking is technology. Technology …

Banking

FT Opening Quote: HSBC profits down 62 per cent

HSBC profits down 62 per cent, Anglo American swings back into profit and IHG revenues up. FT <i>Opening Quote,</i> with commentary by <b>Matthew Vincent</b>, is …

Greek bailout breakthrough, Le Pen jitters and Tony “Bee Gee” Blair

<i>To receive the Brussels Briefing in your inbox every morning, register for a free FT account here and then sign up here.</i><p>Eurozone finance ministers …

Further reading

<b>Elsewhere on Tuesday,</b><p>– Gavyn Davies: How will President Trump reshape the Fed?<p>– DeLong vs Rodrik: Twenty-first century American nationalism needs to …

Economics

P2P lending discovers new pitfalls in the construction sector

A couple of years ago, a little-known civil engineering company called Elimco UK got into trouble.<p>It had been working on substations for Scottish …

FT column: The authoritarian wave reaches the west

<i>By Gideon Rachman</i><p>After the fall of the Berlin Wall, there was a “democratic wave”. Political freedom spread from its traditional bastions in western …

Greece

Selling Treasuries is still not a valid political threat

Remember those stories about foreign governments (the US’s biggest creditors, zOmG!) dumping Treasuries after the presidential election?<p>Well, that …

Finance

Psst, Kraft-Heinz wasn’t bidding for Unilever because of the weak pound

On Friday, Bryce revealed that Heinz-Kraft was in the mood to buy Unilever, the British-Dutch consumer goods giant with a dual listing in London and …

Unilever

Merger mania, Brexit trade talks for Christmas, and the Pence assurance tour

Mega-mergers are once again all the rage – just as protectionist currents are gaining strength. Corporate dealmakers are running headlong into some …

Downing Street

FT Opening Quote: Kraft Heinz drops Unilever deal

Kraft Heinz drops Unilever deal, profits fall at Bovis and revenues up at Vendanta Resources. FT <i>Opening Quote,</i> with commentary by <b>Matthew Vincent</b>, is …

Oil prices: the lonely role of the swing producer

The new Opec quota has been in force for six weeks, which is sufficient time to judge what is happening on the basis of facts rather than …

Further reading

<b>Elsewhere on Monday,</b><p>– Levine: Dole Food had too many shares.<p>– From the NYT: “Mar-a-Lago represents a commercialization of the presidency that has few …

Banking

How will President Trump reshape the Fed?

President Trump has an almost unprecedented opportunity to reshape the key personnel and legal basis of the Federal Reserve in the next 12 months, …

Monetary Policy

Thought for the weekend

Market insiders say that, despite a general trend away from lunchtime drinking elsewhere in the City, it is still popular in the insurance world. “It …

The long rise in profits is mostly just the flip side of falling interest rates

Here’s a deeply misleading chart:<p>It would appear that the returns to owning capital have grown far in excess of national income. More than a seventh …

This is nuts, when’s the tantrum?

Equities are near record highs, the VIX is low, and US real rates are still pretty close to their mid-November levels. Bank of America Merrill Lynch …

Why isn’t Mike Lynch spending more of his “$1bn” technology fund?

In late 2012, Mike Lynch launched a new technology fund. It was a big one. A “pot of gold”, as The Times called it. One billion dollars ready to …

Banking

Reasons to read Alphaville, Unilever edition

From Friday’s Markets Live session…<p><b>PM</b> So Bryce. Do we reward the readers who have stuck with usGive them something back for their overuse of the F5 …

Podcast: Newly conceivable ideas in economics

<i>Alphachat is available on Acast, iTunes and Stitcher.</i><p>Alphachat’s guest this week was Martin Sandbu, economics writer at the FT and author of the …

Economics

(Don’t) keep on truckin’

<i>To receive the Brussels Briefing in your inbox every morning, register for a free FT account here and then sign up here.</i><p>“The customs union means free …

Europe

Snap AV: immigration and the US labour force

The net effect of immigration on the employment and wages of US-born workers is often the source of contentious debates.<p>Less in dispute, which is …

Labor Economics

Snap AV: European stress, mapped

From Nomura, a heat-map and an attempt to assess Europe’s deleveraging efforts. In particular, “relative to the pre-crisis years of 2007 and …

Further reading

<b>Elsewhere on Friday,</b><p>– From the BoE: Low real interest rates and depression economics, not secular trends.<p>– Dan Davies: What lettuces tell us about …

Banking