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Breakingviews columnists

Breakingviews - Thruppence: Who wins by sponsoring UK book prize?

Jan 29 2019

LONDON (Reuters Breakingviews) - Man Group’s decision to end its sponsorship of the Booker prize leaves the UK’s prestigious literary award without a backer. The hedge fund manager decided there were more deserving causes for its 1.6 million pound annual cheque. And having a capitalist sponsor caused occasional frictions with left-leaning literati. While its shoes won’t be easy to fill, Breakingviews columnists have drawn up a shortlist of suitable replacements.

Breakingviews e-book - How Sergio Marchionne saved Fiat and Chrysler

Jul 30 2018

(Reuters Breakingviews) - Sergio Marchionne, who has died at 66, took the driver’s seat at a battered and indebted Fiat in June 2004. Thus began the start of a remarkable turnaround, which he repeated five years later when Fiat took control of Chrysler from the U.S. government.

Breakingviews: Super-voting stock returns a split-ticket

Jan 25 2018

HONG KONG (Reuters Breakingviews) - As part of a series of events marking the publication of the annual Breakingviews Predictions book, a panel convened in Hong Kong on Jan. 9 spent time debating the autonomous Chinese territory's plan to open the door to dual-class share structures.

Goldman-led charge on returns maths falls short

Oct 20 2016

CEO Lloyd Blankfein finds it odd that shareholders keep pegging the industry's cost of equity at 10 pct. The ECB reckons it has been lower, but fluctuates wildly. There is some premise for lowering it, but regulation, dividend curbs and other factors make swaying opinion hard.

UK property didn’t get the “hard Brexit” memo

Oct 17 2016

Real estate funds that froze after the UK vote are opening, and prices have stabilised. Yet rents could collapse if Britain makes a clean break with the EU, and foreign investors may not ride to the rescue. Property stocks pricing in 20-percent price falls aren't cheap.

U.S. companies pick Mexico’s reality over Trump’s

Oct 05 2016

Citigroup is joining AT&T, Sempra and others bulking up south of the border. None is cutting costs by sending U.S. jobs there. They're betting Mexico's reforms, improving infrastructure and rising middle class signal growth, a notion lost on the Republican presidential candidate.

Deutsche Bank has credible shock absorbers

Sep 30 2016

The German lender's shares are falling on fears hedge funds are withdrawing cash. No bank would emerge unscathed if customers really turned tail. But Deutsche's relatively strong funding, and a battery of central bank support facilities, suggest liquidity isn't its main headache.

China is wrong venue for an SDR revival

Sep 01 2016

Beijing wants to revive interest in Special Drawing Rights, the IMF quasi-currency it is about to join. The World Bank will sell $2 bln of SDR debt in China to help. Global investors badly need an alternative to the dollar but China's rickety bond market is a poor place to start.

Glencore ought to lift the lid on its blackest box

Oct 27 2015

Investors seem unconvinced that the commodity trader’s $18 billion of inventory is as good as cash. The value of that hoard may have fallen by a fifth since last disclosed. Boss Ivan Glasenberg could allay concerns with better disclosure, but might put his trading edge at risk.

Thruppence: Naming that brew

Oct 16 2015

It could be called Anheuser-Busch de Bebidas das Américas und South African et Asian Inter-Breweries (ABBASAAIB). Breakingviews columnists brainstorm some alternatives to this over-fermented concoction of beer-merger dregs past and present.

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