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Breakingviews - Boeing’s next big hurdles are out of its control

The future of Boeing is now in large part up to fate. The aircraft maker run by David Calhoun appeared to put its 737 MAX problems in the past on Wednesday, when the U.S. Federal Aviation Administration rescinded a grounding order on the plane involved in two fatal crashes. But a pandemically challenged travel industry awaits. Further delays of delivering the 737 MAX and other aircraft will exacerbate Boeing’s worrisome cash burn.

Breakingviews - Deutsche Boerse jumps on ESG train with ISS deal

Deutsche Boerse Chief Executive Theodor Weimer has finally clinched a big deal. After several false starts, the German exchange operator on Tuesday announced it is buying 80% of Institutional Shareholder Services, for about $1.8 billion. While the U.S. group’s business advising investors on how to vote at shareholder meetings is unexciting, its ability to score companies on their environmental, social and governance credentials offers growth potential. It’s also a

Breakingviews - Pandemic makes bold M&A infectious for insurers

Aggressive dealmaking in the insurance sector may be an unexpected consequence of the pandemic. Just look at RSA Insurance, which has just agreed a 7.2 billion pound offer from Danish and Canadian suitors Tryg and Intact Financial. A hefty premium and breakup plan look daring, but may still pay off if insurance rates rise after the virus.   

Breakingviews - Nio mania reaches Tesla’s extra gear

Nio’s rapid rise confirms the electric-car craze is bigger than just Tesla. The Chinese upstart lacks the production of its larger U.S. rival, and founder William Li dazzles less than his counterpart Elon Musk. Its latest quarterly results also suggest that it will need to grow into a racy $63 billion valuation.

Breakingviews - Gunmakers and social networks are due a defrocking

Guns and social networks have several things in common. Many people enjoy them responsibly, but in the wrong hands they’re dangerous. Yet both enjoy an unfair subsidy in the form of legal protections that shield them from the actions of their users. That can’t last forever.

Breakingviews - Lael Brainard could be Goldilocks Treasury chief

If President-elect Joe Biden were picking the next U.S. Treasury secretary on progressive credentials, Lael Brainard might seem a shoo-in. A career economist and Federal Reserve governor she has been vocal about financial inclusion and the risks of climate change. In the end, it may be a Republican-dominated Senate that gets the final say over who oversees the national finances. She would then be a less obvious pick – but still a good one.

Breakingviews - The Exchange: Investing in a new macroeconomic era

The U.S. faces a paradigm shift, as the era of monetary policy dominance ends and fiscal action becomes the major driver of growth. So argues Greg Jensen, co-chief investment officer at Bridgewater Associates. He says this means rethinking one’s approach to asset classes.

Breakingviews - Gatecrashers join Europe’s telecom tower M&A bash

Cellnex Telecom’s freedom to roam across Europe may be coming to an end. Spurred by the telecommunication tower operator’s rise, Vodafone is preparing to float its mobile mast unit early next year. Other European rivals are also carving out their infrastructure divisions. With half of Europe’s 700,000 mobile towers still potentially up for grabs, the 25 billion euro Spanish M&A machine faces serious competition.

Breakingviews - Walmart explores perks of being second best

Walmart is late to the hot new trend of subscription-based shopping, but that isn’t such a bad thing. In September, the U.S. retailer launched a membership model akin to Amazon.com’s Prime. Like Walt Disney’s streaming service, which is quickly catching up to Netflix, Walmart may have the advantage of being able to ride on a more innovative rival’s coattails.

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Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time. Sign up for a free trial of our full service at http://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.

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