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By Robert Cyran
Apple rolled out its iconic gadget five years ago, just as Bear Stearns subprime hedge funds sounded the alarm on systemic trauma. Financial woe often impedes development by stifling R&D budgets. But the iPhone is proof of how innovation can defy the odds and overcome hard times.

Juilliard improves tone of China's urbanisation

By John Foley
The U.S. fine arts school’s new Tianjin campus will avoid some political problems that beset Western universities chasing the Chinese dollar. For the host city, Juilliard may be largely a trophy - but any idea that improves the quality of China’s city life deserves a hearing.

Barclays' board should replace Bob Diamond

By Peter Thal Larsen
A $450 mln regulatory fine, on top of rows over tax and bonuses, has tarnished the CEO’s track record and undermined efforts to revamp the UK bank. Diamond has many strengths and his shoes will be hard to fill. But as long as he is in charge, Barclays will struggle to move on.
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Murdoch deal is a non-core disposal - not a split

By Rob Cox
After Brangelina or bananas split, two more or less equal halves remain. To suggest that News Corp’s doing anything similar sounds more like wishful journalistic thinking than clear arithmetic. The Printco’s value amounts to no more than around 6 pct of News Corp’s market cap.
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Would the ECB downgrade France?

By George Hay
The European Central Bank is toying with using its own credit assessments when taking sovereign collateral. That would mark a big and welcome step in curbing the power of the ratings agencies. But it’s questionable whether it could exercise judgment free from meddling.

Is this the real Hong Kong handover?

By Richard Beales
With the British gone for 15 years, the prosperous Chinese territory is about to get its first chief executive who wasn’t in the colonial club: CY Leung. Economically, Hong Kong is firmly hitched to China. The trick for Leung will be to set a course that keeps it distinct.

Brazil's richest man overpromises, underdelivers

By Raul Gallegos
Billionaire Eike Batista is swiftly falling from favor. His flagship oil company OGX lost 25 pct of its value Wednesday after massively cutting output expectations. Batista is a savvy salesman and wheeler-dealer but his failed promises are building up rapidly. Investors beware.
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