Business picks from elsewhere, Thursday 15 March

Out opinion on their opinion: American driving, Goldman Sachs, and the New York Times.

1. Discovering Greed (Schumpeter)

Mr Smith may suffer from his own willingness to swallow Goldman’s propaganda, writes Schumpeter.

2. As gas prices soar, US driving habits shift, but slowly (Washington Post)

Americans are altering their driving habits, writes Brad Plumer.

3. New York Times pay structure isn’t fit to print (Reuters)

 The paper rewards its bosses too well, writes Jeffrey Goldfarb.

4. Faux G (Babbage)

Plainspoken truth and meeting expectations is in short supply in the mobile world, writes Babbage.

5.  Americans think private equity is profiteering. But that hasn’t necessarily hurt Romney (Washington Post)

Mitt Romney’s campaign has put private equity under major scrutiny, writes Suzy Khimm.

Americans are changing their driving habits, Getty images
Photo: Getty
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Cabinet audit: what does the appointment of Liam Fox as International Trade Secretary mean for policy?

The political and policy-based implications of the new Secretary of State for International Trade.

Only Nixon, it is said, could have gone to China. Only a politician with the impeccable Commie-bashing credentials of the 37th President had the political capital necessary to strike a deal with the People’s Republic of China.

Theresa May’s great hope is that only Liam Fox, the newly-installed Secretary of State for International Trade, has the Euro-bashing credentials to break the news to the Brexiteers that a deal between a post-Leave United Kingdom and China might be somewhat harder to negotiate than Vote Leave suggested.

The biggest item on the agenda: striking a deal that allows Britain to stay in the single market. Elsewhere, Fox should use his political capital with the Conservative right to wait longer to sign deals than a Remainer would have to, to avoid the United Kingdom being caught in a series of bad deals. 

Stephen Bush is special correspondent at the New Statesman. He usually writes about politics.