Oct 13, 2014 06:50 UTC

China’s Agile Property only the worst of the best

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By John Foley

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

Agile Property is crumbling. The Chinese real estate developer needs urgent financial assistance after the authorities detained its chairman and it had to cancel a $360 million rights issue. The shares fell by as much as 30 percent on Oct. 13. Yet in China’s property sector, it is just the worst of the best.

Oct 10, 2014 19:18 UTC

Blackstone sale may kick off next deal trend

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By Jeffrey Goldfarb

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

It’s the end of the beginning for Blackstone. The M&A advice business that Steve Schwarzman and Pete Peterson used as a cornerstone to build their buyout firm three decades ago is being offloaded. Merging it with a fledgling shop run by former Morgan Stanley investment banking chief Paul Taubman potentially heralds the start of something else. The rise in global mergers could spawn a super-boutique or even entice a big bank to buy an indie firm.

Oct 9, 2014 14:07 UTC

European IPO wobble is about more than volatility

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By Quentin Webb

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

Europe’s IPO wobble is about more than volatility. With initial public offerings in France and Italy being pulled, companies and advisers are, as ever, blaming choppy markets. There’s some truth in this old bromide. But the misfiring of two big internet debuts also matters. Europe’s economy is faltering. And a busy year for new deals has made investors both less flush and more discriminating.

Oct 9, 2014 07:15 UTC

Tianhe investors sell first, ask questions later

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By Peter Thal Larsen

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

Investors in Tianhe Chemicals are selling first and asking questions later. Shares in the Chinese company plunged by as much as 45 percent when they resumed trading after anonymous fraud allegations. Despite the company’s detailed rebuttal, some of the dirt has stuck. Big shareholders may have to reach into their pockets to restore confidence.

Oct 8, 2014 17:29 UTC

Traders need help to make Wall Street shine

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By Antony Currie

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

Wall Street’s fixed income trading desks welcomed a rare return of volatility. It probably hasn’t been enough, though, to ensure decent profitability for Goldman Sachs, JPMorgan and Morgan Stanley in the quarter just ended. They’d need to generate up to $12 billion of extra revenue among them trading bonds, foreign exchange and commodities to achieve a return on equity of 15 percent.

Oct 7, 2014 13:50 UTC

Rio Tinto can dig in against Glencore

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By Quentin Webb

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

Rio Tinto can dig in against Glencore. On Oct. 7 the miner admitted rebuffing an approach in July from the commodity trading giant. Fair enough. The timing seems expedient following a slump in Rio’s dominant product, iron ore. A $160 billion “merger” also smacks of a takeover on the cheap. Rio can justifiably demand a real premium or no deal.

Oct 7, 2014 06:48 UTC

Jumbo $6 bln bank IPO shows Saudi too big to miss

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By Una Galani

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

Saudi Arabia’s jumbo bank offering shows the soon-to-open emerging market is too good to miss. The kingdom’s top lender by assets is planning to sell shares worth $6 billion, making it the biggest-ever initial public offering in the Middle East and second only to China’s Alibaba in the world this year. For most outsiders, it’s a reminder of the opportunities that will open up when foreign investors are granted direct access to the country’s $584 billion stock market next year.

Oct 6, 2014 15:57 UTC

Meg Whitman at last splits Hewlett from Packard

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By Rob Cox

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

Hewlett and Packard are finally going their separate ways. Not literally, of course, as the founders of the Silicon Valley technology conglomerate that bears their names have long shuffled off this mortal coil. But the company now led by Meg Whitman is breaking in two.

Oct 3, 2014 18:17 UTC

Sears’ Canada stake sale merits a discount

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By Kevin Allison

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

Eddie Lampert is at it again. Less than three weeks after the hedge fund world’s Icarus figure-turned-retail boss announced he would lend Sears Holdings $400 million, the struggling store chain has announced a plan to raise more cash by selling down its stake in a Canadian subsidiary through an uncommon operation.

Oct 3, 2014 17:43 UTC

Coke challenge goes beyond revising pay plan

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By Kevin Allison

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

Coca-Cola’s challenge goes beyond revising its controversial equity compensation plan. The beverage giant’s retreat from the scheme is a win for Warren Buffett, investor David Winters and the company’s other shareholders. But the quibbles with Coke don’t end with excessive remuneration.