Breakingviews
Review: Libor revealed dark underbelly of trading
LONDON (Reuters Breakingviews) - "Holy shit," U.S. Department of Justice fraud investigator Robertson Park exclaimed in 2010, as he listened to a two-year-old recording of a call between former Bank of England Deputy Governor Paul Tucker and Bob Diamond, then chief executive of Barclays.
Drugmakers pose Brexit Britain withdrawal risk
LONDON (Reuters Breakingviews) - Drugmakers could lump Britain with a withdrawal problem. They aren’t publicly threatening to pull staff out of the UK, as the automotive and financial industries have done. But Britain’s looming exit from the European Union gives them renewed negotiating power - especially after Prime Minister Theresa May’s gushing endorsements of the industry.
Seoul-Beijing feud cues Lotte to end China misery
SEOUL (Reuters Breakingviews) - Beijing just handed Lotte a great excuse to abandon its troubled venture in China. The South Korean retail giant is under attack by Chinese state media after letting Seoul use its land to deploy a U.S. missile defence system. Beijing is vowing to make life hard for the group – but it's pretty hard already. Lotte’s loss-making venture in the People’s Republic has already sparked a founder-family spat. The fallout from the political rift provides a great excuse to l
Cox: Snap IPO marks moment investors donned sweats
NEW YORK (Reuters Breakingviews) - Investors have effectively just done what no self-respecting person ever should: wear sweatpants in public. With Snap's $3.4 billion initial public offering they have simply given up giving a damn. They handed their money over to an immature company and in the process abrogated their rights to fair treatment, good governance and reasonable valuations. If the $24 billion self-styled "camera company" run by a 26-year-old fails to achieve its ambitions, shareholde
Viewsroom: SoftBank deal frenzy lacks hard logic
NEW YORK (Reuters Breakingviews) - The giant Japanese tech firm has been on a global M&A; tear, but shareholders aren’t buying it. President Trump's mix of details-free policy pledges and jingoistic militarism looks dazed, confused and dangerous. Plus: Silvio Berlusconi's AC Milan sale puts Chinese buyers offside.
Northern Ireland may bolster case for own spinoff
LONDON (Reuters Breakingviews) - Northern Ireland may be about to vote for its own eventual spinoff. The outcome of upcoming elections in the UK member state may see London again having to rule the thorny region directly. Given the high cost of propping up the region, and the problems with potentially reunifying it with Ireland to the south, the north is becoming a problem that no one wants.
Market delivers crazy love letter to China's FedEx
HONG KONG (Reuters Breakingviews) - Stock-market investors have sent a love letter to China's FedEx. A rally in the newly listed firm behind SF Express makes boss Wang Wei one of China's richest men. At roughly $40 billion, his company is now worth nearly as much as Deutsche Post. That looks like an overreaction, driven by hype over e-commerce and a shortage of tradable shares.
Hadas: Enough with the cult of Warren Buffett
LONDON (Reuters Breakingviews) - Warren Buffett has become a cult object. The 86-year-old chairman of Berkshire Hathaway is venerated for his tremendous investment returns, as well as his folk wisdom and cheerleading for America. But the sage of Omaha deserves as much criticism as adulation.
Research "Big Bang" sifts losers from megastars
LONDON (Reuters Breakingviews) - Securities analysts are about to be divided into winners and losers. A European directive will force sellside firms to charge fund managers an explicit price for European securities research from January 2018. The stratification will be pronounced. Many analysts will go; others will be even better paid.
Harry Potter conjures Japanese growth for Comcast
HONG KONG (Reuters Breakingviews) - With Harry Potter's help, Comcast can conjure up growth in sleepy Japan. The biggest U.S. cable operator is paying 255 billion yen ($2.3 billion) to buy out Goldman Sachs and other partners in Universal Studios Japan. The Osaka theme park's success, thanks partly to the boy wizard, highlights a part of the economy where domestic consumption growth is no illusion.
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Reuters Breakingviews is the world's leading source of agenda-setting financial insight. The company was founded in 1999 as Breakingviews.com and was acquired by Thomson Reuters in 2009, becoming the Reuters brand for financial commentary. Every day, we comment on the big financial stories as they break. Our expert analysis is provided by a global team of correspondents based in New York, Washington, Chicago, London, Paris, Madrid, Hong Kong, Beijing and Singapore. For the full commentary and analysis service from breakingviews.com, including regular emails containing the latest views, contact breakingviews.clientsupport@thomsonreuters.com. All opinions expressed are those of the authors.