Apr 11, 2014 19:17 UTC

Comcast’s $45 bln deal warrants some utility logic

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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

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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

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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

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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

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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

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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.

Apr 9, 2014 12:11 UTC

Banks swap rewards for risk on public deals

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By Dominic Elliott

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

Investment bankers are wising up about reputational risk. Deutsche Bank and UBS are now loath to offer long-dated swaps to municipalities. New capital rules making it less attractive to enter into long-dated interest rate swaps partly explain why. But the legal tussles and bad publicity from dealing with public sector clients are a bigger factor.

Apr 9, 2014 06:58 UTC

China tech rout sifts IPO haves from don’t-needs

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By John Foley 

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

Falling prices of internet stocks are a headache for companies yet to join the market. The sell off that began in the first week of March and broke on April 8 hit Chinese companies particularly hard. It may leave investors pickier about coming initial public offerings of tech companies from the People’s Republic. The haves will be sorted from the don’t-needs.

Apr 8, 2014 17:45 UTC

Rob Cox: Crazy valuations not only sign of bubble

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

Crazy valuations – even after a recent dip – are not the only signal that parts of the U.S. stock market, particularly internet companies, are in bubble territory. The willingness of investors in hot initial public offerings to accept second-class stock and governance that favors insiders suggests an imbalance between providers of capital and its consumers. Add head-scratching market caps based on contorted metrics, and this risks storing up trouble when the inevitable headwinds arrive.

COMMENT

Well, the flipside is that it may mean that the times of Henry Ford’s vision have arrived. Does it mean that generating income is not the only driver of change for such companies anymore?

Posted by Radek.kow1 | Report as abusive
Apr 8, 2014 15:42 UTC

Trendy new buyout clubs may let down eager patrons

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

Trendy new buyout clubs may disappoint their eager would-be patrons. Blackstone Group is enlisting some of its fund investors to help buy auto-parts maker Gates for $5.4 billion. Such collectives are increasingly displacing teams of private equity firms in bigger deals. Returns from so-called co-investing, though, could make it a passing fad.