The Big View

Pushy foreigners helped boost short-term value in the Nikkei stock index. In this Exchange podcast, Hiroyuki Otsuka, CEO of Newton Investment Partners and ex-Carlyle executive, explains how local asset managers will create the next wave of gains and usher in dramatic change for Japan. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may...

Automakers in the country are touting autonomous driving, and Tesla is preparing to join the fray. On this week’s Exchange podcast, Maxwell Zhou, CEO of Alibaba-backed DeepRoute.ai, explains why progress is accelerating and how that is already changing consumers’ expectations. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also vis...

France’s Emmanuel Macron got little to show from President Xi Jinping’s European tour this month. In this Exchange podcast, MERICS expert Grzegorz Stec explains the difficulty of managing ties with Beijing and why balancing risk and business opportunity is so tricky. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megapho...

The media industry has been struggling since the digital era and VC-led initiatives like BuzzFeed and Vice failed. Yet betting on independent outlets can reap decent financial rewards, Harlan Mandel, who runs a specialised impact fund, tells The Exchange podcast. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.f...

Zara owner Inditex, H&M and other apparel giants are holding ground against the Asian fast-fashion upstart. However, AlixPartners’ retail expert Matt Clark argues in this Exchange podcast that Shein’s focus on garment quality could threaten the dominance of pricier rivals. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit m...

After a $5 trln crash, there are early signs of healthy buying. In this Exchange podcast, Herald van der Linde, HSBC head of equity strategy, Asia Pacific, unpicks the shifting sentiment of Chinese households and implications for the rest of the region’s capital markets. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit meg...

The world faces many onerous financial and climate challenges. Still, as Axel van Trotsenburg, the World Bank’s Senior Managing Director, explains in this Exchange podcast, governments and companies in advanced economies cannot afford to stop supporting developing ones. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit mega...

Young companies in the European Union have traditionally lagged US rivals in both value and numbers. But in this Exchange podcast, Index Ventures Partner Hannah Seal explains how friendlier regulations on employee share ownership are helping EU-based entrepreneurs fill that gap. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also v...

Credit Suisse and a string of US regional banks failed last year. In this Exchange podcast, Stanford Professor Anat Admati argues that lenders’ equity buffers are punier than they seem – and that fixing the problem needn’t cause a credit crunch. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm/adchoices to opt...

Bitcoin’s price broke its record, nearly two years after crypto exchange FTX went bust. In this Exchange podcast, Andreessen Horowitz’s Arianna Simpson explains why digital assets and the ledgers underpinning them are inextricable, and what’s driving new excitement around both. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also vi...

The year kicked off with a 75% increase in global M&A activity, to $525 bln. Speaking to The Exchange podcast from a gathering of merger mavens in New Orleans, Evercore banker Bill Anderson discusses the resurgence and what’s needed to keep the momentum after a two-year slump. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also vis...

At 360 bln euros, the bloc’s military expenses are three times Russia’s. Yet fragmented defence systems are a problem, Bruegel senior fellow Guntram Wolff tells The Exchange podcast. To improve scale and boost aid for Ukraine, Europe should consider more joint debt. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphon...

Western rate-setters were late in fighting inflation. In this Exchange podcast, TS Lombard economists Dario Perkins and Davide Oneglia argue that, as price growth abates, the US Federal Reserve and European Central Bank may be too slow in easing monetary policy. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone.fm...

Markets that trade the right to emit greenhouse gases have a ropey history. Still, in this Exchange podcast Harvard University Fellow Ely Sandler argues that companies and countries may increasingly pay carbon taxes via emission permits – and unlock cash for the green transition. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also...

Economic distress prompted by globalisation undermines support for the energy transition, climate change economist Valentina Bosetti tells The Exchange podcast. That matters as key US and EU elections approach. Using proceeds from carbon taxes to address inequality is paramount. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also v...

Amazon, Microsoft, Nvidia and Alphabet powered roughly 8% of 2023’s North American venture deals, largely in artificial intelligence. In this Exchange podcast, Altimeter Capital investor Apoorv Agrawal explains why these companies are reaping rewards from the latest tech craze. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also vi...

Houthi attacks near the Suez Canal are slowing global trade. In this Exchange podcast, Zvi Schreiber, CEO of shipping platform Freightos, discusses how the sector was caught by surprise, but excess container ships and more air cargo capacity are helping limit the immediate pain. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also v...

Uncertainty over the direction of inflation and monetary policy is buffeting markets. In this Exchange podcast Jim Grant, founder of ‘Grant’s Interest Rate Observer’, discusses his gloomy outlook for US bonds and sounds a warning about the risks of shadow banking. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphone....

Rivals like Apollo and KKR went public more than a decade ago, over time de-emphasizing their buyout roots, especially amid a recent deal drought. In this Exchange podcast John Connaughton of Bain Capital explains why his firm isn’t following them, and how the market is healing. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also v...

Developing humanlike models is notoriously expensive. In this Exchange podcast, venture capital investor Konstantine Buhler of Sequoia Capital discusses how new breakthroughs are starting to lower costs and how that presents opportunities for challengers like OpenAI. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megapho...

Falling oil prices despite recent cuts imply a weak OPEC+. Yet the producer group may increasingly align with other emerging market states on areas like Russia and climate change. In this Exchange podcast commodities expert Helima Croft says that’s an issue for Europe and the US. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also...

The world is short not of capital, but of projects to fund and sovereigns willing to share risk. In this Exchange podcast, Fortescue’s Andrew Forrest discusses why all countries need an IRA and the lessons of leading the world’s fourth-largest iron ore miner through change. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit...

The success of the Dubai climate shindig rests on how much it slashes emissions via cuts to oil production, and how much it relies on carbon storage or removal. In this Exchange podcast, Energy Transitions Commission chair Adair Turner warns against relying on the latter. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit me...

China dominates the processing of stuff essential to the energy transition. Rich countries can shift the balance if they accept more mining at home. Most of all, Europe needs to be better at recycling, critical materials expert Gavin Harper explains in the Exchange podcast. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit...

The Middle Eastern country has withstood the financial pain of a war with Hamas, William Wechsler at the US think tank the Atlantic Council says in this Exchange podcast. But as the conflict continues, an increasing labour shortage will pile pressure on the economy. Visit the Thomson Reuters Privacy Statement for information on our privacy and data protection practices. You may also visit megaphon...