Nov 14, 2013 04:26 UTC

Nirvana eludes Japan after one year of Abenomics

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By Andy Mukherjee

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

The economic nirvana promised by Shinzo Abe when launching his bid to become prime minister a year ago continues to elude Japan.

Nov 13, 2013 21:54 UTC

A trio of finance lessons from Bacon’s triptych

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By Richard Beales and Rob Cox

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

The record-busting $142 million sale by Christie’s of Francis Bacon’s triptych of Lucian Freud on Tuesday – not to mention the unprecedented New York auction total of almost $700 million – shows a contemporary art market in heady territory. It’s possible, if a tad tenuous, to extract a matching trio of lessons for the broader world of finance.

Nov 12, 2013 17:15 UTC

Apollo and Cooper can still do a deal

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

The buyout of Cooper Tire & Rubber Co hasn’t gone flat yet. The U.S. company and Indian buyer Apollo Tyres are locked in a legal battle over an agreed $35 per share offer. But both sides insist they still see merit in a union that will create the world’s seventh biggest tyre manufacturer. Adjusting Apollo’s offer to reflect the potential cost of removing the two main roadblocks to the deal suggests a revised bid of at least $27 per share.

Nov 11, 2013 19:43 UTC

BlackBerry turnaround starts out all thumbs

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

BlackBerry’s turnaround is starting out all thumbs. The $85 million worth of stock handed to new boss John Chen over five years at least provides the right incentives. But the struggling Canadian company surely needs more attention than one man doing both top jobs, especially if he’s commuting from California.

Nov 8, 2013 18:48 UTC

Private equity titans revel in Great Separation

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

The Great Separation has arrived in private equity. For a long stretch, investors barely distinguished among the publicly traded stocks of Apollo, Blackstone, Carlyle and KKR. There now appears to be a noticeable appreciation for the differences. It should be a welcome change even if it reflects some short-term thinking about a long-term business.

Nov 8, 2013 18:12 UTC

Review: Frackers needed long view to make history

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

The revolution in U.S. energy came from an unlikely source, as Gregory Zuckerman recounts in “The Frackers: the Outrageous Inside Story of the New Billionaire Wildcatters.” Tiny drillers like George Mitchell and Harold Hamm persisted with shale while deep-pocketed giants such as Chevron gave up. It was a triumph of leadership over short-term shareholder value.

Nov 7, 2013 19:57 UTC

Twitter’s public debut is yin to Facebook’s yang

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

 

Twitter’s public debut is turning out to be the yin to Facebook’s yang. The initial public offering of Mark Zuckerberg’s social network in 2012 was blowout, capitalistic excess. Twitter has carefully managed expectations. But both are a curious mix of cynicism and belief – redistributed among bankers, backers, executives and prospective investors. Still, when it comes to hyped-up IPOs, everyone seems most comfortable reacting to recent history.

Nov 5, 2013 15:28 UTC

BMW profit miss just a bump on safe road

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By Olaf Storbeck

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

BMW shares tanked more than 3.5 percent on Nov. 5 after the carmaker released third-quarter earnings that fell slightly short of expectations. Investors should pause and relax. Even though earnings before interest and taxes are down 6 percent year-on-year, the results actually reflect the company’s strengths more than its weaknesses. Profit is down for a good reason.

Nov 4, 2013 19:26 UTC

BlackBerry’s liquid infusion won’t douse cash burn

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

BlackBerry’s liquid infusion won’t douse its cash burn. The troubled company is selling $1 billion of convertible debt after attempts to find a buyer flopped. Even big supporter Fairfax Financial has backed away from taking full control. The extra money and a new boss buy BlackBerry a bit more time. But its prospects are bleak.

Nov 4, 2013 17:24 UTC

Twitter’s new $1.75 bn IPO value: Hype or spot on?

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

Twitter is increasing the price for its upcoming initial public offering by as much as a third. The social network is now looking to raise between $23 and $25 a share, according to a filing on Monday with the Securities and Exchange Commission.