Apr 15, 2014 14:07 UTC

Diageo throws money at Indian empire-building

Photo

By Robert Cole and Una Galani

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

Diageo is engaging in some expensive empire-building in India. An under-powered tender offer meant an earlier attempt to take control of Vijay Mallya’s United Spirits was only partially successful. Now the world’s biggest spirits maker has more than doubled the price it is willing to pay, offering $1.9 billion to raise its stake to 54.8 percent from 28.8 percent.

Apr 15, 2014 05:47 UTC

WH Group’s quick pork flip serves up meaty return

Photo

By Una Galani 

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

WH Group’s quick pork flip will serve up a meaty return. The Chinese pig producer hasn’t had much time to justify the 31 percent premium it paid for rival Smithfield less than seven months ago. Yet the planned relisting of the enlarged group in Hong Kong implies the value of the U.S. business has risen at least 21 percent.

Apr 14, 2014 18:08 UTC

Citi looks perfectly priced – for more mediocrity

Photo

By Antony Currie

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

Citigroup’s stock looks perfectly priced – for more mediocrity. The mega-bank’s $3.9 billion first-quarter profit was no disaster. Unlike JPMorgan, the firm run by Michael Corbat beat analysts’ estimates. Its bad bank, Citi Holdings, is no longer much of a drag. And the bank even managed to utilize a chunk of its substantial tax breaks and thus boost capital. For now, though, shareholders don’t have much more to cheer about.

Apr 14, 2014 06:35 UTC

China’s car joint ventures aren’t built to last

Photo

By Ethan Bilby

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

Chinese drivers are booming in number, and foreign auto companies have cruised away with most of the sales. But access to what is now the world’s largest auto market has come with a big financial concession: joint ventures with local partners. Those alliances haven’t fulfilled Beijing’s goal of developing competitive Chinese brands. That divided interest could lead to future break-ups.

Apr 11, 2014 19:17 UTC

Comcast’s $45 bln deal warrants some utility logic

Photo

By Jeffrey Goldfarb

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

Imagine Comcast’s $45 billion plan to buy Time Warner Cable gets the utility treatment. It isn’t a big stretch these days to liken the pipes that bring the internet into homes to those carrying water or electricity. When power companies and the like merge, though, regulators want consumers to share the spoils.

Apr 11, 2014 16:28 UTC

JPMorgan’s clean sheet already looks off-white

Photo

By Jeffrey Goldfarb

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

JPMorgan’s clean sheet already looks off-white. For the first time in years, its quarterly earnings weren’t cluttered with special items like whale-trade losses or legal costs. The U.S. mega-bank’s $5.3 billion profit in the three months to March fell short of expectations anyway.

Apr 11, 2014 12:28 UTC

Europe’s banks lose their cover on leverage ratio

Photo

By Dominic Elliott

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

Europe’s banks have lost their cover on the leverage ratio. European lenders used to contend that American rivals had an easier ride on newly vogue-ish equity-to-asset yardsticks. New rules published on April 8 mean they can carp no longer.

Apr 10, 2014 18:36 UTC

Icahn loses battle of bluster at eBay

Photo

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

Carl Icahn has lost the battle of bluster at eBay. The activist investor is quitting his proxy fight now that the company is appointing one new director and agreeing to talk to him. Considering Icahn had “never seen worse governance” and was broadly right about the benefits of eBay separating its PayPal unit, that’s a retreat. But he may yet win the war.

Apr 10, 2014 16:15 UTC

Jamie Dimon hits final stage of grief: acceptance

Photo

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

In coping with the tragedy of the financial crisis, no Wall Street executive has exhibited the five stages of grief like Jamie Dimon. The JPMorgan chief executive has passed through phases of denial, anger, bargaining and depression. His latest annual letter to shareholders finally shows a desire to accept what’s happened and move on.

COMMENT

Slightly more transparent and accountable is more like it. The trajectory has shifted but not even close to good enough, tic tock! L.

Posted by 2Borknot2B | Report as abusive
Apr 9, 2014 15:31 UTC

Alibaba triangular dealmaking adds to IPO quirks

Photo

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

Powerful insiders are the norm in internet companies. Alibaba’s tie-up with a digital TV company adds an extra twist. The Chinese e-commerce group, which is planning a U.S. listing, has signed a three-step deal with China’s Wasu Media that looks a little too clever for comfort.