Headlines

Americas

An assessment of Donald Trump’s record on trade

“WE WILL stand up to trade cheating,” Donald Trump promised in 2016. He pledged to end “the era of economic surrender” and put America first, even if that meant kicking others down. He said he would renegotiate “horrible” trade deals bilaterally, scorning any larger agreement “that ties us up and binds us down”. International...

Don’t mess up Bolivia’s miracle

ON OCTOBER 18TH, the owner of a guesthouse on Isla del Sol in Lake Titicaca walked for an hour on a dusty path past Inca ruins to vote in a re-run of Bolivia’s election. He was worried. Last year’s contest had sparked a year of protests, driving up food prices and keeping tourists away. This time, polls predicted a runoff between Luis Arce, the...

Chile’s momentous referendum on its constitution

A YEAR AFTER the outbreak of huge protests in which at least 30 people died, Chileans assembled again. The combination of mass civility and minority mayhem was familiar. Tens of thousands of flag-waving demonstrators congregated peacefully on October 18th in Plaza Italia in central Santiago, the capital. In the afternoon fights broke out between football...

Mining for votes in Montana

THE RESIDENTS of Big Timber, a mining town near the Crazy Mountains in Montana, can’t wait for the elections to end. Campaigning is too exhausting. Each day they must empty a dozen glossy political pamphlets from overstuffed letterboxes. Local television news is interrupted 15 times every half-hour by candidates’ 30-second spots. These are usually...

Donald Trump’s effort to sow mistrust is looking like an own-goal

PERHAPS IT WAS only a matter of time before the land of billion-dollar election campaigns supersized the vote itself. The great wave of early voting America has experienced over the past two weeks is nonetheless bracing. By the time Donald Trump and Joe Biden are due to hold their debate this week, around 50m ballots will have been cast—almost 40%...

Asia Pacific

SANNE appoints new business development director in Tokyo

Makoto Nagao, has been appointed to the newly created role of Director, Business Development adding further strength to SANNE’s Asia-Pacific business. With more than 35 years of experience, Nagao-san brings a wealth of knowledge, following a lengthy career with Sumitomo Mitsui Financial Group, SMFG. While he was at SMFG, Nagao-san was General Manager...

Crayfish.io launches UK’s first funded initiative to get businesses China-ready

A ground-breaking initiative with a £500k investment fund dedicated to helping UK businesses get ‘China-ready’ has been launched in Cambridge by global online platform, Crayfish.io. Starting in September, the Crayfish China Accelerator programme  - which has secured UK-China Enterprise Ltd (UKCE), a Chinese-capital-backed VC fund, as its...

SANNE opens new office in Mumbai, India

SANNE, a leading global provider of alternative asset and corporate services has further extended its global reach with the opening of a new office in Mumbai, India. With existing offices in 18 leading international finance centres, SANNE now has a local presence in one of the world’s fastest growing alternative markets and is also pleased to announce...

SANNE secures new bookkeeping licence in China

SANNE, a leading global provider of alternative asset and corporate administration services obtains new bookkeeping licence in China boosting its already strong proposition. The new licence expands SANNE’s existing product offering in China, adding bookkeeping, accounting and tax preparation services for Chinese registered entities. Jing Jing...

SANNE appoints Country Head to lead its Singapore business

Adding further expertise and knowledge to its APAC business As a leading global provider of alternative asset and corporate business services, SANNE is pleased to announce the appointment of David Fowler to the role of Country Head − Singapore with immediate effect. Based in SANNE’s Singapore office, David will be taking over the role from Valérie...

Europe

Augusta raises additional $115m for litigation and dispute funding

Investment in response to growing demand from lawyers Augusta, the UK’s largest litigation and disputes funder by case volume announces it has raised a further US $115m from a multi-billion-dollar US-based investment manager. In 2018, Augusta secured £150m from a global investment fund, to finance business growth and investment in funding cases....

An affiliate of Sun European Partners announces that it has completed the sale of Famosa

Sun European Partners, LLP (“Sun European Partners” or “Sun”) today announces that one of its affiliates has completed the sale of Fábricas Agrupadas de Muñecas de Onil, S.A. (“Famosa” or “the Company”), a leading designer, developer, manufacturer and distributer of toys in Spain and throughout the world, to Giochi Preziosi S.p.A..  Famosa,...

Huge Tax Changes for Self-Employed Following Publication of New Legislation

On 11 July 2019, the Government published draft legislation outlining the IR35 changes coming to the private sector, which are expected to affect 250,000 businesses. The reform will impact users and suppliers of personal service company contractors in the private sector. Companies have only nine months to plan for the new off-payroll changes, as they...

Young people pick their banking partners for the future

Battle of the brands Generation Z calls the brands it will bank on in 2030 Britain Banks most trusted for handling payments and safe storage of dataTech brands first choice for creating smart, real-time servicesAs a sector, financial services scores poorly for ethics and positive social impact More than two in five young people (43%) believe that...

Alcentra Closes Significant Capital Raise for its European Direct Lending Strategy

Record €5.5 billion raise reflects strong investor demand, Alcentra’s track record of deployment and returns Alcentra, one of Europe’s largest and longest tenured managers of private debt and part of BNY Mellon Investment Management, has announced the close of its latest European direct lending capital raise. The firm has raised €5.5...

Mena

Sharks Wash Up on Beaches, Stabbed by Swordfish

The first victim washed up in September 2016. The police in Valencia, Spain, saw a blue shark dying in the surf along a tiny stretch of beach. They lugged the eight-foot corpse to the yard behind the police station. Then they called Jaime Penadés-Suay, who soon suspected foul play.The shark had what looked like a bit of wood embedded in her head. He...

Judge Dismisses Case Against 47 Men Charged Under Nigeria’s Anti-Gay Law

LAGOS, Nigeria — A Nigerian court on Tuesday threw out a case against 47 men charged with public displays of affection with members of same sex because of what the judge called the failure of prosecutors to appear in court and call witnesses.The trial, heard in Lagos, Nigeria’s biggest city and commercial capital, was widely seen as a test case...

A Malaria Mystery, Partly Solved: What Happens When the Rains End?

Each year malaria kills roughly 400,000 people, most of them children and pregnant women in Africa. Scientists have long known that most of those fevers and deaths occur during the rainy months, when mosquitoes abound. But how does the disease persist during the long dry seasons, when almost no one falls ill and there are few mosquitoes to carry the...

In Madagascar, Endangered Lemurs Find a Private Refuge

Sambava, Madagascar — Madagascar has always been one of the best places on Earth to study the natural world. Seventy percent of its species are found nowhere else — the largest concentration of endemic wildlife anywhere. In the last 10 years alone, scientists have discovered 40 new mammals, 69 amphibians, 61 reptiles, 42 invertebrates and 385 plants...

As Lawlessness Roils Nigeria, Police Chief Vows to Take Back Streets

LAGOS — Nigeria’s police chief on Saturday ordered the mobilization of all police resources to reclaim public space after more than two weeks of peaceful protests over police brutality gave way to widespread vandalism and looting.The order came four days after the police and soldiers fired on demonstrators, killing 12 and injuring hundreds in an...

International

How Satya Nadella turned Microsoft around

WHEN SATYA NADELLA became the third boss of Microsoft in 2014 one photograph captured the moment. It shows him flanked by Bill Gates, the co-founder and chairman, and Steve Ballmer, Mr Gates’s successor as chief executive. The two white tech tycoons strike a confident pose in casual dress. Mr Nadella, an Indian-American, skulks in a suit, smiling...

Sources & Acknowledgments

Books COVID-19 and Trade Policy: Why Turning Inward Won’t Work, edited by Richard E. Baldwin and Simon J. Evenett, CERP Press, London, 2020 Articles and other sources On the learning potential of unexpected disruptions, by Michele Acuto, Shaun Larcom, Ferdinand Rauch and Tim Willems Central bank bond purchases in emerging market economies, by Yavuz...

The peril and the promise

THE THEORY of “black swans” says that unpredictable high impact events play a vastly greater role than most people realise. Long before 2020 scientists feared that a zoonotic respiratory disease might originate in Asia and spread globally. But hardly anybody foresaw the consequences. The story told by a casual inspection of most economic data is...

The right kind of recovery

EVERY FEW decades in the 20th century the relationship between the state and the individual was reforged in the fire of crisis. Liberal reformers in Britain won the election of 1906 amid a loss of confidence in conservatism. In America the 1930s depression was followed by the New Deal. The second world war preceded the trente glorieuses, never-had-it-so-good...

Prognosis uncertain

POORER countries depend on trade more than rich ones, especially on exports of tourism and commodities. They have fewer professional jobs that can be done from home, making social distancing costlier. Because their governments and companies often borrow in dollars, they suffer in times of economic stress, when their currencies usually fall against the...