Welcome to a new era of petrodollar power
What are the hundreds of billions of oil riches being spent on?
A pack of hungry headhunters has descended on Europe’s financial quarters. Over coffee in the mid-morning lull, they tempt staffers at blue-chip investment funds with tax-free jobs, golden visas and gorgeous vistas at the firms’ clients: sovereign-wealth funds in the Gulf.
This article appeared in the Finance & economics section of the print edition under the headline “A new era of petrodollar power”
Finance & economics April 15th 2023
- Welcome to a new era of petrodollar power
- After decades of stagnation, wages in Japan are finally rising
- Where did woke ideas start to spread?
- Life is getting tough for borrowers. Where will the pain be felt?
- More and more Americans are gaming the deposit-insurance system
- What luxury stocks say about the new cold war
- How the state could take control of the banking system
From the April 15th 2023 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from Finance & economics
Do tariffs raise inflation?
Usually. But the bigger problem is that they harm economic growth and innovation
European governments struggle to stop rich people from fleeing
Exit taxes are popular, and counter-productive
Saba Capital wages war on underperforming British investment trusts
How many will end up in Boaz Weinstein’s sights?
Has Japan truly escaped low inflation?
Its central bankers are increasingly hopeful
How American bankers dodged the MAGA carnage
The masters of the universe have escaped an anti-globalist revolt
China’s financial system is under brutal pressure
When will something break?