Reuters Breakingviews

Andrew Forrest has lost a CEO, a CFO and a top adviser this week. The tycoon says people only quit his $43 bln miner if they disagree with its zero emissions goal. Change and the energy transition can be disruptive. But his absolutist twist to climate spin homes in on a new risk.

A federal scheme to back policies for water-logged homes is set to be renewed. Failing to do that would worsen a housing shortage. But the program is already laden with debt. Fixes like flood-prevention infrastructure can lower costs for the government and homebuyers alike.

Turkey’s president finally ditched his love of low interest rates and pledged to curb inflation, currently at 59%. But Tayyip Erdogan still needs growth and will boost spending to get that. Soaring budget deficits and a weak currency will keep the economy under pressure.

Government debt has been signaling a downturn for 440 days, but there’s been no recession. The famed predictive power of the yield gap between different vintages of Treasuries is waning. As the global economy evolves, warnings from the fixed-income markets can be safely ignored.

Some investors are avoiding the country’s bonds after its budget deficit topped 5% of GDP. Paris is unlikely to require an IMF or European bailout. But President Emmanuel Macron has to bring public finances under control. That will come at a heavy political and economic price.

High rates and busy markets turbocharged revenue at $325 bln Bank of America, Goldman Sachs, Citi and others. The question is how long it can last. Strong third-quarter results raise the tantalizing prospect that solid results are here to stay, especially if M&A and IPOs pick up.

Carriers such as $8 bln Lufthansa and $2 bln Air France-KLM saw rising costs and competition on Eastern routes from Chinese rivals. The logical response for EU players is to look West instead. Bidding for Portugal’s state-owned TAP would drive much-needed consolidation.

Winning the House of Representatives as well as the Senate would let the new US president build on his $4 trln 2017 tax cut and pass laws on immigration and healthcare. Republican infighting thwarted bigger changes last time. But the party is now more aligned with Trump’s agenda.

Anglo American has just joined BHP and others disposing of coal assets in securing a cut from new owners if the fossil fuel's price soars. It's savvy but also breezily undercuts their objections to governments pulling similar tricks to reduce costs for consumers.

New boss Brian Niccol has a geographical dilemma. Crazy concoctions are flustering US baristas while Chinese customers want more new beverages. He’s better off focusing on the home market and spinning off the second-biggest business. It’s probably only worth about $7 bln anyway.