Jeff Mason is a White House Correspondent for Reuters and the 2016-2017 president of the White House Correspondents’ Association. He was the lead Reuters correspondent for President Barack Obama's 2012 campaign and interviewed the president at the White House in 2015. Jeff has been based in Washington since 2008, when he covered the historic race between Obama, Hillary Clinton and John McCain. Jeff started his career in Frankfurt, Germany, where he covered the airline industry before moving to Brussels, Belgium, where he covered the European Union. He is a Colorado native, proud graduate of Northwestern University and former Fulbright scholar.
Twitter handle: @jeffmason1
ASPEN, Colo. (Reuters Breakingviews) - Goldman Sachs is playing follow-someone-else’s leader. The $87 billion Wall Street firm is expected to announce early this week a career investment banker as its next chief executive. David Solomon comes from the side of Goldman that advises clients rather than the bit that trades securities and produced current chief Lloyd Blankfein. It further de-emphasizes the role that part of the business plays. It’s also something Morgan Stanley did almost a decade ago.
NEW YORK (Reuters Breakingviews) - The big American banks get ever bigger, more profitable and more cozy. JPMorgan set the tone on Friday with a record $8.3 billion of earnings for the three months ending June 30. Return on equity at Jamie Dimon’s $363 billion colossus was a roomy 14 percent. Citigroup followed with $4.5 billion of earnings for the quarter, comfortably above consensus forecasts. Yet the largest lenders' price-to-earnings multiples have fallen this year even as forecasts of their earnings power have risen.
NEW YORK (Reuters Breakingviews) - Tesla’s big-ideas man is sweating the small stuff. Chief Executive Elon Musk told employees on Tuesday that the $60 billion electric-car maker will cut 9 percent of its staff, in an acknowledgement that it’s hard to change the world while not being sustainably profitable. It’s more of a signal than an actual maneuver, but it matters, particularly to the financial community Musk has at times alienated.
NEW YORK (Reuters Breakingviews) - The first significant adjustment to post-crisis U.S. financial regulation, passed on Tuesday, is not going to unleash financial Gomorrah. Big banks will barely notice the difference. And even if the deregulatory tide continues, the financial markets have changed sufficiently that the good old days aren’t coming back any time soon.
NEW YORK (Reuters Breakingviews) - Nearly ninety years ago, economist John Maynard Keynes warned darkly about widespread “technological unemployment” – a condition which would replace human workers faster than it could find new uses for them. Looking at the low and falling jobless rates in large economies like the United States and Britain, it would be easy to assume he was wrong. But there may be an alternative explanation. Maybe jobs didn’t disappear as industry advanced, but just turned to bullshit.
OMAHA (Reuters Breakingviews) - The 40,000 shareholders crowding Omaha’s CenturyLink Center for Berkshire Hathaway’s annual meeting Saturday didn’t come to hear about machine learning or smart beta. They’re here for Chairman Warren Buffett’s plain-speak – and maybe some See’s Candies peanut brittle. That’s probably fine for now. But the idea of a robo-version of the Oracle of Omaha is no longer a ridiculous notion.
NEW YORK (Reuters Breakingviews) - President Xi Jinping wants to make China great again – but his “third revolution” has brought censorship, protectionism and military standoffs. China scholar Elizabeth Economy’s new book explains Xi’s muscular new approach, and offers suggestions on how the West should respond.
NEW YORK (Reuters Breakingviews) - The fact that South Dakota’s official visitor website is available in Chinese speaks volumes about the links between the United States and the People’s Republic. Levies on Chinese TVs and microscopes, and U.S. soybeans and ginseng, threaten direct economic damage to both economies. But a reduction in the number of Chinese visitors to the United States, which has already begun, could hit a nerve that trade tariffs don’t reach.
［ニューヨーク ２４日 ロイター BREAKINGVIEWS］ - ほとんどの大手投資マネジャーは、公の場で会社社長の「買収欲」をティーンエージャーの「性欲」に例えることはしないだろう。
NEW YORK (Reuters Breakingviews) - Most big investment managers don’t publicly compare the acquisitive desires of a chief executive to the sex drive of a “ripening teenager.” Warren Buffett isn’t the typical big investment manager, which is why Berkshire Hathaway has beaten the market for 36 of the last 52 years. Buffett still serves up the ample returns and folksy advice his fans love. But if a generational shift is underway, he is on the wrong side of it.