Mar 25, 2015 15:19 UTC

Hermes shares look too glossy

Photo

REUTERS/Mario Anzuoni

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

Hermes has won many a handbag fight. In the last two years its high-end leather goods found eager buyers in most markets, despite global economic weakness. On the home front the family controlled group has freed itself from the smothering embrace of Louis Vuitton owner LVMH.

Mar 24, 2015 19:58 UTC

Google’s CFO search should have it feeling lucky

Photo

"The Reuters Breakingviews 2015 Predictions panel moderated by Reuters Breakingviews Editor Rob Cox and featuring Founder & Executive Chairman at Evercore, Roger Altman, Chief Economist & Executive Director of Global Market Insight at General Electric, Mar

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

Google’s CFO search should have it feeling lucky. There’s a dearth of executives with the financial, tech and government know-how needed to help run a $400 billion company. Even fewer women fit the bill. Silicon Valley and Wall Street just can’t find people like Morgan Stanley Chief Financial Officer Ruth Porat fast enough. The challenge is to create more like her.

Mar 18, 2015 14:45 UTC

Inditex shares no longer a bargain

Photo

REUTERS/Andrew Winning

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

Inditex is back in fashion. The Zara owner’s shares have risen more than 20 percent this year, against 7 percent for rival H&M’s. The Spanish recovery, a weakening euro and the group’s nimble business model justify a premium valuation. But at more than 30 times forward earnings, the good news is already priced in.

Mar 17, 2015 13:23 UTC

Clock ticks for Swatch in Apple Watch challenge

Photo

By Carol Ryan

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

Just as the global watch market begins to put China’s growth-stunting corruption crackdown in the rearview mirror, Apple Watch appears on the horizon. Nick Hayek, the CEO of Swatch, doesn’t look concerned by the iPhone maker’s arrival on his patch. He should be.

Mar 16, 2015 18:16 UTC

Valeant’s $11 bln bid may have scored two knockouts

Photo

By Robert Cyran

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

The sweetened $11 billion bid by Valeant Pharmaceuticals for Salix Pharmaceuticals may have scored two knockouts. By stumping up an extra 10 percent from its previous offer, the acquisitive drugmaker now backed by hedge fund boss Bill Ackman put rival suitor Endo International on the mat. The extra cash required, and the debt already on its balance sheet, leave Valeant’s business model looking wobbly.

Mar 13, 2015 19:17 UTC

BNY Mellon spat hints at activism getting crowded

Photo

By Richard Beales

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

Bank of New York Mellon is under fire. Again. Marcato Capital Management is gunning for Gerald Hassell, chief executive of the $44 billion U.S. financial institution. That’s after Nelson Peltz’s Trian, armed with a similar critique, already secured a board seat. Activism is starting to look like a crowded strategy.

Mar 11, 2015 14:43 UTC
Edward Hadas

Wobbly stock markets are in thrall to central banks

Photo

By Edward Hadas

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

The old joke was that the stock market predicted nine of the last five recessions. Nowadays it’s central banks rather than economic fundamentals that have equity investors on tenterhooks.

Mar 10, 2015 11:11 UTC

Credit Suisse buys some insurance with Pru CEO

Photo

By Peter Thal Larsen

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

So much for the banking brain drain. Credit Suisse is hiring Tidjane Thiam from UK insurer Prudential to replace veteran CEO Brady Dougan, according to people familiar with the matter. It’s a surprising vote of confidence in the Swiss institution, and the industry.

Mar 6, 2015 19:12 UTC

Apple entry into DJIA is polish for an antique

Photo

By Robert Cyran and Richard Beales

The authors are Reuters Breakingviews columnists. The opinions expressed are their own.

Apple’s entry into the Dow Jones industrial average is a bit like polishing an antique. The average share price of 30 stocks selected by committee will finally include the world’s biggest company in place of AT&T. It’s an overdue move for an outdated yardstick – one which, like landlines and checkbooks, lives on.

Mar 6, 2015 11:35 UTC

UK retreat from RBS is more important than value

Photo

By George Hay

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

Re-privatising Royal Bank of Scotland used to mean creating a world-class universal bank and selling out at a profit. The first objective has already fallen by the wayside – RBS is well on the way to becoming a UK-focused retail bank. Happily the second, judging by comments by Chancellor George Osborne on March 5, could soon follow.