Antony's Feed
Feb 24, 2011
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Middle East crisis puts GM’s restructuring to test

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
By Antony Currie

The Middle East is giving General Motors its first big test since exiting from the junkyard and returning to public markets. As the carmaker’s shares hover at their November public offering price, investors aren’t forgetting what happened when oil prices surged last time around. As crude prices crested over $100 a barrel in 2008 — which they did briefly again earlier this week — GM’s profit center in trucks and SUVs took a big hit.

Feb 18, 2011
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Jamie Dimon’s pay reign may not last long

By Antony Currie
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Jamie Dimon now occupies one of the most dubious spots in banking: he’s the highest-paid chief executive on Wall Street. It would have been the case anyway had JPMorgan’s board simply matched his bonus from last year. But a 20 percent hike, along with his $1 million salary, takes his total 2010 pay to $18 million — and he may yet get some cash on top. That’s more than the $13.2 million granted to Goldman Sachs CEO Lloyd Blankfein, or the nearly $10 million pocketed by BofA boss Brian Moynihan.

Feb 2, 2011
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Lazard shows up rivals big and small

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Lazard’s Ken Jacobs has an advantage over most of his fellow new Wall Street CEOs: he can look back on his first full year in charge in 2010 with a degree of satisfaction. Sure, James Gorman might argue Morgan Stanley’s turnaround is on track, while Bank of America’s Brian Moynihan might simply be relieved the year is over — though his $9 million bonus must be a comfort. But Lazard showed up rivals big and small.

Jan 31, 2011

Blankfein’s pay hike looks hard to defend

– The author is a Reuters Breakingviews columnist. The opinions
– The author is a Reuters Breakingviews columnist. The opinions
expressed are his own –

By Antony Currie

NEW YORK, Jan 31 (Reuters Breakingviews) –

Breakingviews pens an imaginary letter to Goldman’s
directors from an irate shareholder.

Jan 21, 2011
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Bank of America must be hoping for a dose of Citi’s tonic

By Antony Currie
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Bank of America boss Brian Moynihan had a tough first year in charge. The Charlotte-based bank was the lightning rod for all mortgage-related storms, took $12 billion of goodwill writedowns against businesses bought by Ken Lewis, the former chief executive, and is the probable target of a forthcoming WikiLeaks campaign to boot. After all that, Moynihan must be hoping that he is finally in line for a dose of rival Citigroup’s tonic.

Jan 18, 2011
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Citi’s subpar Q4 a reminder of hard slog to come

By Antony Currie
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

NEW YORK — Citigroup’s subpar fourth-quarter showing is even more disappointing than it looks. Not only did the U.S. megabank’s $1.3 billion profit, a mere 3.2 percent return on equity, miss consensus analyst estimates. It also needed some extra help from the taxman and its own reserves even to get there. Strip those items out, and the meager return in the final three months of the year dissolves into a loss of around $165 million. It’s a timely reminder to shareholders that the recovering Citi is still faced with a hard slog back to decent profitability.

Jan 13, 2011
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Dimon should keep JPMorgan’s powder dry for now

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

NEW YORK — Jamie Dimon faces a luxury problem. The boss of JPMorgan, which reports earnings Friday, reckons the bank will generate up to $50 billion in excess capital over the next three years. The question is what should he do with such a windfall?

Jan 11, 2011
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Goldman pulls value out of adversity

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

NEW YORK — Overwhelming public opprobrium played a hand in Goldman Sachs’ decision to disclose more about its trading and investments for its own account — the first fruits of which emerged in a regulatory filing on Tuesday. But the Wall Street firm’s reorganization of how it reports earnings also serves its own purposes. It makes valuing the firm a bit easier by enabling a better sum-of-the-parts analysis than was previously possible.

Jan 5, 2011
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Beating the rap easier on Wall, not Main, Street

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Is beating the rap easier on Wall Street than Main Street? It sure looks that way. U.S. authorities have collared few high financiers for their role in the crash. By contrast the Federal Deposit Insurance Corp is lining up lawsuits against 109 mostly small-time bankers, arguing that negligence and fraud contributed to their firms’ demise.

Dec 29, 2010
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Squeezed I-banks will fight for talent in 2011

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

NEW YORK — This might seem like an unlikely time for a bidding war for investment bankers. After all, the industry’s high-paying culture is still under scrutiny from regulators and politicians. And new capital rules and economic uncertainty mean returns may be lackluster again in 2011. So why is Wall Street limbering up for a battle for talent?

    • About Antony

      "Antony Currie has more than a decade of experience as a financial journalist, having worked with Euromoney since 1996, most recently as a U.S. editor. He has worked on assignments in the major financial centers of Europe and the U.S. and written stories on capital markets, global economies and the investment banking industry. He holds a bachelor's degree in German language and literature and a master's degree in politics and international relations from the University of Bristol."
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