Altice keeps powder dry in $18 bln Cablevision bid

September 17, 2015

Patrick Drahi’s telecoms group is buying its second U.S. cable operator to become the fourth-largest player. The valuation looks high but savings will help. Importantly, Altice isn’t contributing much cash. Possible co-investment with private equity could reduce costs further.

Breakdown: Migrant crisis reshapes Europe politics

September 8, 2015

The number of people flooding into the continent is only a small part of the story. More worrying: old political anxieties are being rekindled. While migration won’t immediately affect economic issues like Greece’s bailout or the euro, it could jeopardise European cohesion.

LVMH’s bite out of Apple is digital coming-of-age

September 2, 2015

The French luxury group has poached a top Apple music executive to head its online operations. It’s a significant move in a sector that has been wary of the net. It also cranks up the heat on the sector’s e-commerce leader Burberry and recently merged Yoox/Net-a-Porter.

Review: Euro was the path of least embarrassment

By Edward Hadas
August 14, 2015

Valerie Caton’s history of French policy around the single currency could be read as a chronicle of meetings, position papers and fuzzy compromises. It is better to see a tale of European leaders grudgingly living up to their historic destiny. More of that, and the euro can survive.

Hugo Dixon: Euro zone doesn’t need political union

By Hugo Dixon
August 3, 2015

The Greek crisis has triggered renewed calls for a euro zone government, budget and parliament. But such a political union isn’t needed, desirable or achievable. Instead, the euro zone needs more market-based solutions to thrive.

BNP Paribas’ M&A machine spits out growth and risk

July 31, 2015

France’s top bank by assets cranked out resurgent second-quarter earnings of 2.6 bln euros. Three takeovers in 2014 are delivering results. Yet dealmaking sprawl has tripped up rivals in the past. It might be a good time for the Belgian state to trim its 10 pct stake.

Numbers add up to HSBC leaving London

July 31, 2015

The global bank is reviewing its head office location based on 11 criteria such as economic importance, transparency and tax. A ranking based on data compiled by Breakingviews shows Singapore, Hong Kong and even Toronto are more attractive than HSBC’s current home base.

Hugo Dixon: The optimist’s guide to Greece

By Hugo Dixon
July 27, 2015

There are so many ways things could go wrong in Greece that it’s easy to miss how things could also go right. The good scenario involves the ECB buying up Greek bonds, the lifting of capital controls and a deal on debt relief – all by year-end.

Hugo Dixon: Greek deal leaves bitter aftertaste

By Hugo Dixon
July 13, 2015

Berlin was right to point out that Athens had lost Europe’s trust. But by pushing the Greeks so hard, Germany is also losing Europe’s trust. The summit’s eventual outcome is reasonably fair if tough. But both leaders, Merkel and Tsipras, need to work hard to rebuild trust.

Hugo Dixon: Syriza split best outcome for Greece

By Hugo Dixon
July 11, 2015

PM Alexis Tsipras secured overwhelming parliamentary backing for his U-turn on austerity and reform, but his party has splintered. A new government, which is more serious about implementing whatever bailout programme is negotiated with creditors, will now probably be formed.