The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Tuesday, November 20, 2012

Ironic: HSBC gets out of the non-core banking game

Hmmm, I have warned about this for too long to recall:

Banking Day: HSBC has confirmed it is in talks to sell its US$9.3 billion (A$9.0 billion) stake in China's Ping An Insurance, as it continues to shed non-core businesses and rebuild its profitability. In a statement to the Hong Kong Stock Exchange yesterday, HSBC said the talks might not result in a sale of the 15.6 per cent stake, however. On Monday, the Hong Kong Economic Journal reported that Dhanin Chearavanont, Thailand's richest man, might buy the shares.