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The JPMorgan chief’s closely watched annual shareholder letter falls a bit flat this year. It rehashes old gripes and doesn’t lay much new ground. Step up Robert Wilmers, boss of regional bank M&T;, whose take on the state of finance makes it the must-read missive of the season.
Why is IBM even sponsoring the Masters?
Golf and business often mix well. But Augusta National remains an all-boys club. That defies IBM’s diversity aims - very noticeably so given its new CEO, Virginia Rometty. Even if the financial logic for sponsorship wasn’t fuzzy, the tech firm would be better off pulling the plug.
Spain reveals holes in Europe's crisis plan
Rising Spanish yields have thrust the euro zone back into crisis mode. The ECB’s liquidity boost is fading, and the obsession with austerity looks self-defeating. Though Madrid could use some support for its banks, a full bailout will be difficult. Self-help is the only answer.
Rothschild Anglo-French union secures family grip
The investment bank is merging its French and British subsidiaries into a single listed vehicle, Paris Orleans. But the new group’s limited partnership structure guarantees airtight family control - regardless of who takes over from current chairman David de Rothschild.
Nigerian billionaire's LSE-quote plan is watershed
A mooted London listing for Aliko Dangote’s $11 bln cement group is a milestone for Nigeria and for Africa. The resource-rich continent has seen false starts before, and Dangote’s venture isn’t without risks. But a FTSE 100-sized Nigerian company gives cause for celebration.
Wall Street hangs in limbo despite market rebound
Investment banks have started 2012 far better than they ended 2011. Revenue should be higher in all but M&A; and equities. A more stable Europe has helped. But even if the recovery sticks this time, most firms will need considerably more trading and deals to earn decent returns.
D.C. holds $23 bln fix for cash-strapped states
That’s how much they could raise from taxing online retailers. A pre-Internet ruling currently forbids such tariffs, forcing states like Georgia to resort to contorted ways around it. A federal solution is needed. Luckily, Congress may have hit on one that even Amazon supports.
FEATURED VIDEO
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Breakingviews: Refining DeltaApril 5 - Antony Currie and Breakingviews columnists discuss whether the airline’s interest in buying a refiner is barmy or brilliant.Video
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The Exchange: Jim Kim's Dartmouth problemRob Cox talks to Rolling Stone Contributing Editor Janet Reitman about her exposé of Dartmouth College's frat-boy culture under World Bank presidential nominee Jim Yong Kim.Video
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Predictions 2012: Upside down and inside out
Edited By Robert Cole
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