Philippa Kaur

When the Alternative for Germany (AfD, from its German initials) was launched in 2013, it was a pro-business, classically liberal party created by German intellectuals opposed to the single European currency. Hans-Olaf Henkel, a free-market enthusiast and former boss of the bDI, the main German industry association, was a founding member. Then, in the space of a few years, the AfD turned into an anti-immigrant, populist party toying with Dexit—Germany’s exit from the eu. Mr Henkel quit in 2015. German bosses turned their backs. Despite being generally reluctant to voice political opinions, many came out strongly against the AfD ahead of the election to the European Parliament on June 9th. More

WHEN A GAGGLE of Generation-Z employees from Seoul, Shanghai, Singapore and Tokyo gets together in one place, the ensuing conversation will usually be conducted in decent English. The participants are all equally fluent in another common language—that of corporate despair.The inflexible hierarchies, long hours and culture of presenteeism that pervade Asia Inc have left many young workers deeply dissatisfied with their lot in life. In an annual global survey of employee wellbeing by Gallup, an American pollster, just 18% of under-35s in East Asia say they are engaged at work, below the already tepid 23% global average. Japan and Hong Kong skirt the bottom of the global rankings for engagement across all age groups. More

HOW MUCH is one-party rule worth to India Inc? Judging by the market reaction to the results of the general election, the figure is around $400bn. That is the total market value lost by Mumbai-listed stocks on June 4th, when it turned out that rather than securing a big majority, as exit polls had predicted, the ruling Bharatiya Janata Party (BJP) of Narendra Modi would need coalition partners to govern.Investors’ panic proved short-lived. By June 10th the Mumbai bourse had clawed back all its losses, after Mr Modi quickly assembled a coalition perceived to be sympathetic to his pro-business economic agenda. The previous day a “Who’s Who” of corporate India applauded in the presidential palace as Mr Modi was sworn in as prime minister for a third time. Modi 3.0, as Indians refer to the new government, is looking much like the earlier versions. More

One satisfaction of buying a new car is the distinctive aroma within. The smell that emanates from the Chinese electric vehicles (evs) that are increasingly common on Europe’s roads is, for the European Commission, that of a rat. On June 12th, after an eight-month probe, the EU’s executive arm accused China of unfairly subsidising its industry with the likes of tax breaks and cheap loans. It fears that cut-price imports pose a “clearly foreseeable and imminent injury” to European carmakers. Provisional tariffs of between 26% and 48%, compared with 10% for other imported cars, will be imposed from July on Chinese evs. The precise duty will depend on each firm’s willingness to assist the investigation.In the short term, it is hard to sniff out a winner. Car buyers hoping to inhale the intoxicating new-car odour will certainly suffer if the prices of imported cars rise and competitive pressures on European firms ease. But Europe’s carmakers are not taking a victory lap, either. They did not ask for the probe, which was launched under pressure from France’s government. German companies such as Volkswagen and BMW, which make lots of cars in China and export plenty there, have been particularly vocal opponents. Now they fear retaliation from Beijing, which looks inevitable. More

Tim Cook has an air of bashful reverence. In his 13 years at the helm of Apple he has created more value than just about any CEO in history, as the tech behemoth’s market capitalisation has climbed from less than $400bn to almost $3trn. But he still acts as if he were there thanks to the grace of Steve Jobs, or the skill of his colleagues, or divine providence. It was in character, then, that when he took to the stage at the iPhone-maker’s annual developers’ gathering on June 10th, he first greeted the cheering throng by clasping his hands together, as if in prayer. He probably would not admit this, but there was plenty to pray for.Apple is suffering one of its periodic bouts of investor angst. Call it the curse of the missing mojo. In the past 18 months Wall Street has convinced itself—as it has a few times since Jobs died in 2011—that the creative spark bequeathed by Apple’s Promethean co-founder has finally sputtered out. Behind that is a real problem: sales of the iPhone, which account for half of Apple’s revenues, are slowing. But there is a perception problem, too. Apple’s aloof response to the euphoria over generative artificial intelligence (AI) has cost it its crown as the world’s most valuable company, which it lost to its one-time nemesis, Microsoft. To make matters worse, the market value of Nvidia, maker of chips that power generative-AI tools, this month briefly overtook that of Apple. Its boss, Jensen Huang, is treated like the second coming of Jobs. More

Pity OpenAI’s HR department. Since the start of the year the maker of ChatGPT, the hit artificial-intelligence (AI) chatbot, has lost about a dozen top researchers. The biggest name was Ilya Sutskever, a co-founder responsible for many of the startup’s big breakthroughs, who announced his resignation on May 14th. He did not give a reason, though many suspect that it is linked to his attempt to oust Sam Altman, the firm’s boss, last December. Whatever the motivation, the exodus is not unusual at OpenAI. According to one estimate, of the 100-odd AI experts the firm has hired since 2016, about half have left.That reflects not Mr Altman’s leadership but a broader trend in the technology industry, one that OpenAI itself precipitated. Since the launch of ChatGPT in November 2022, the market for AI labour has been transformed. Zeki Research, a market-intelligence firm, reckons that around 20,000 companies in the West are hiring AI experts. Rapid advances in machine learning and the potential for a “platform shift”—tech-speak for the creation of an all-new layer of technology—has changed the types of skills employers are demanding and the places where those who possess them are going. The result is a market where AI talent, previously hoarded at tech giants, is becoming more distributed. More

America is not just the land of red-blooded capitalism. It has an esoteric tradition of capitalist altruism, too. Take Trader Joe’s, an own-label grocery chain like M&S in Britain. It somehow retains a local-community feel, like an indoor farmers’ market with good prices and wonderful staff, despite having 549 stores. Whole Foods Market, a 530-store Mecca for well-heeled health nuts and epicureans, has a similar vibe. Or at least it did until 2017, when it was sold to Amazon for $13.7bn. Its co-founder, John Mackey, has recently published a book full of joie de vivre about his 42 years at its helm. “The Whole Story: Adventures in Love, Life and Capitalism” comes a few years after an even quirkier memoir by the founder of Trader Joe’s, the late Joe Coulombe. They are strikingly different characters who approached retailing in unusual ways. Each offers good lessons in entrepreneurship.Mr Mackey’s book starts with him as a college dropout having an LSD-fuelled epiphany: “I was IT. And it was me, and I was there. And it was ALL.” Don’t be put off. Whether or not would-be entrepreneurs should drop acid for inspiration, in his case it worked. The Texan’s quest for self-discovery leads to a new philosophy of natural-food retailing that conquers America. Coulombe’s book, “Becoming Trader Joe”, has no New Ageiness, even though his chain started in California in 1967. As a lesson in how to beat the big guys in business, it does exactly what it says on the tin. His first anecdote is about the merits of relabelling Peruvian tuna as pilchards to avoid import quotas and cut prices. More

Rare is the chief executive who extols the virtues of a lie-in. Tim Cook, boss of Apple, maker of the iPhone, wakes between 4am and 5am. So does Bob Iger, his counterpart at Disney, a media giant. According to one survey, two-thirds of the chief executives of large American companies are up by 6 o’clock; for average Americans the share is less than one in three. For those aspiring to corporate greatness, the message seems clear: you snooze, you lose.Your guest Bartleby harbours no such ambitions. But he has, in the past, experimented with early starts, and can confirm that their benefits go beyond the smug sense of satisfaction that comes from arriving at your desk before your editor. Inboxes can be cleared and tricky problems mulled over before the onslaught of emails and meetings begins, leaving you feeling well prepared for the day ahead. More