Breakingviews

UK turmoil shows up markets as amoral and impotent

June 17, 2016

Sterling and stocks rebounded due to speculation that the killing of a pro-EU British lawmaker might affect the outcome of a June 23 referendum. Traders trade on any scrap of information, even tragedy. In this case, they are more at the mercy of events than shaping them.

Dixon: Why I’m voting to remain in Europe

June 16, 2016

Britain has much to gain from capital markets union and free digital trade, argues Breakingviews’ founder. But the boiling cauldron of the Middle East and North Africa, and the Leave camp’s misinformation, are even more worrying. Brexit would be a triumph for post-truth politics.

Chancellor: Why I have voted for Brexit

June 16, 2016

Prophecies of economic turmoil if Britain leaves the EU lack credibility. If the EU cared for its citizens, substantive reforms would have been enacted. A vote for Brexit shows solidarity with Europe’s public - and with the principles of Kant, the great Enlightenment philosopher.

Cox: An appeal to London’s Brexit banker castoffs

By Rob Cox
June 16, 2016

If Britain votes to leave the EU, global financial institutions have said they’ll need to relocate thousands of jobs to the continent. A fictional letter from Antwerp’s mayor to JPMorgan’s Jamie Dimon sums up the pre-emptive pitch cities and regions are sure to make.

Britain is better off staying in Europe

June 16, 2016

A vote to remain in the European Union is the least bad option for Britons – but it should be an ultimatum, not a capitulation. If the problems that led to anti-EU sentiment aren’t addressed, the debate will return with a vengeance. And for harmony to endure, the euro may have to go.

Poundland’s bargain bin status is in question

June 16, 2016

The single price discounter is being eyed by South Africa’s Steinhoff. With shares off by a third since a 2014 flotation, Poundland looks relatively cheap. But online pressures, a struggle to integrate a recent acquisition and tough UK trading will make its suitor cautious.

Crown Resorts can shine brighter without Macau

June 16, 2016

James Packer’s $6 bln casino business may split up. A big rally in its shares looks justified. Not only will the Australian group lift payouts and put hotels into a low-tax trust. The business will also get simpler and no longer be tied to China’s struggling gambling territory.

Fantasy-sports merger would face harsh reality

June 15, 2016

There may be logic to uniting FanDuel and DraftKings for backers that include Fox, Google, Comcast and KKR. The legal-defense synergies alone sound promising, although a deal could ignite new antitrust concerns. State lawmakers also can curb one big site as easily as two.

Exchange podcast: Jeb Hensarling

By Rob Cox
June 15, 2016

Congressman Jeb Hensarling, chairman of the U.S. House Financial Services Committee, discusses his proposal to replace the sweeping Wall Street reforms of the Dodd Frank Act, which was passed after the 2008 crisis. The Texas Republican also discussed his recent meeting with Donald Trump, who might find Hensarling a good match for his cabinet should the Republican real-estate mogul become president.

Alibaba’s new candour is overdue but welcome

June 15, 2016

The Chinese e-commerce giant has promised to shed more light on the financial performance of a range of businesses. That’s a relief for investors amid an accounting probe by U.S. regulators. A better-than-expected revenue forecast also helped ease concerns about slowing sales.