The View

  • Oil price war confirms what investors feared about Saudi Aramco

    Oil price war confirms what investors feared about Saudi Aramco

    Saudi Aramco’s IPO last year was a historic event for the company and its owner, Saudi Arabia, but despite a record $29.4bn being raised at IPO, international investors stayed away. They had demanded that the shares offered a discount to other listed oil majors, in part because of the political risk associated with the company. The fact it is now a tool in Saudi Arabia’s oil price war with Russia will have vindicated many in their decision to sit out the deal.

  • Strong banks also need central bank support

    Strong banks also need central bank support

    Canadian banks are among the largest, most profitable and best rated in the world, but that does not grant them immunity from liquidity bottlenecks. A recent spree of deals, although in some ways was a show of might, also illustrated even the most fortified of lenders can appear vulnerable.

  • Never miss an opportunity for good PR

    Never miss an opportunity for good PR

    Standard Chartered’s announcement that it was allocating $1bn to help companies deal with coronavirus, or transition towards making essential medical kit, makes a virtue of doing what most banks are up to anyway. There’s nothing wrong with a bit of good news in these troubled times, but Stan Chart’s competition might feel they’ve missed a trick.

  • You can't separate the dollar from the US government

    You can't separate the dollar from the US government

    US president Donald Trump looks unable to lead a global response to the health and economic crisis caused by the coronavirus pandemic, but the dollar is unchallenged as the global safe haven in times of crisis. This contradiction is destabilising.

  • Closing stock markets is not the answer

    Closing stock markets is not the answer

    Short selling bans in several European countries have led to fears that regulators may move to shut down stock markets altogether if the turbulence caused by the spread of Covid-19 worsens further, but this would be a serious mistake.

  • Republican bailout package is finance's Patriot Act

    Republican bailout package is finance's Patriot Act

    There is a plan to rescue the US economy with a $500bn corporate bailout. At the time of writing, that plan is held up in the US Senate. While the country's president Donald Trump is griping about the delay, it’s a fight worth having. The Republican Party's proposal is woefully short on oversight.

  • Leveraged companies need help too

    Leveraged companies need help too

    Extraordinary support measures from central banks across the world include an element of corporate lending, but all the schemes announced so far target SMEs, and companies rated BBB- and above. That leaves a gaping hole in the rescue net, which the authorities must fill.

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