BAT heaps $47 bln of peer pressure on Reynolds

October 21, 2016

The UK tobacco giant has offered a near 20-pct premium for the 58 pct of the U.S.-based Camel-maker it doesn't own. It's opportunistic - Reynolds just named a new boss, and has disappointed investors. Still, the logic of uniting the two is as hard to resist as a Newport menthol.

German carmakers tune up the basics of banking

November 5, 2014

The in-house operations of VW, Daimler and BMW are all solidly profitable. They follow some basic rules that rivals and bigger institutions often forget. Lend to people who can repay, expand carefully and find secure and cheap funding. Successful owners also help.

Corporate China beating banks at their own game

October 17, 2012

Banks and bondholders aren’t the only ones working to keep the country’s debt-fueled party from crashing: companies are also lending more to each other, for longer. As growth slows, the risk is that rising past-due bills make it hard for the private sector to repay mounting debt.

Sum worth more than parts in U.S. auto parts deal

October 16, 2013

Advance Auto’s $2 bln purchase of rival General Parts resulted in the acquirer gaining $1 bln in value. That’s bang in line with promised cost savings. Nobel winner Eugene Fama’s efficient markets theory is flawed, but in corporate finance it sometimes works just fine.

Predictions Panel 2014

January 14, 2014

Rob Cox is joined by Kevin Warsh, Tony James and Paul Taubman to discuss what to expect in the year ahead from global markets, economies and corporate finance.