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Breakingviews - Mukesh Ambani’s retail M&A would wipe competition

Mukesh Ambani, India’s richest man, is keen to meet all the shopping needs of domestic consumers. A flurry of dealmaking involving his $176 billion oil-to-telecom giant Reliance Industries could make that a sharper reality by seriously blunting the competition. Ambani’s Reliance Retail is a conglomerate within a conglomerate, accounting for one quarter of group revenue last year. It has joint ventures with luxury labels from Tiffany & Co to Jimmy Choo, and ow

Breakingviews - Retail’s WeWork escape hatch is sealed shut

For some troubled retailers, real estate used to be the fallback asset. But a spate of bankrupt apparel chains shows the sector’s last ditch for value is on the fritz. And as plans to turn former shopping venues into, say offices, seem like a near term pipe dream, the likes of Simon Property will need to reinvent the reinvention.

Breakingviews - HSBC is firing on just one shaky cylinder

HSBC Chief Executive Noel Quinn is making a decent stab of reviving the ailing $90 billion lender, but the ground keeps shifting beneath his feet. With low interest rates sapping revenue in every division aside from investment banking, cost cuts at the London-based bank will have to go much further than originally planned to get returns back up to a respectable level.

Breakingviews - TikTok learns old lesson about U.S. art of deal

TikTok is finding out the hard way that the Oval Office may hold the trump cards in deals that raise national security concerns. President Donald Trump pushed for a sale of the popular video app, then threatened to ban it, prompting a call between him and suitor Microsoft’s Chief Executive Satya Nadella to salvage talks. The seller, parent company Beijing-based ByteDance, and other potential buyers have much to worry about.

Breakingviews - Tricky bidding war brews over LSE’s Italy bourse

An attractive European exchange asset may be coming to the market. London Stock Exchange Group said on Friday that it might sell Borsa Italiana or the unit’s stake in the MTS bond trading platform to win European Union approval of its $27 billion bid for data provider Refinitiv. Rivals Euronext and Deutsche Boerse are likely bidders. But they risk a messy three-way tussle. 

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