Breakingviews

China throws a juicy bone to foreign brokers

May 8, 2012

The likes of Goldman Sachs and Morgan Stanley will be able to own 49 percent of their China securities ventures, from 33 percent. It still doesn’t match the heavy lifting they do, but is progress. Given the securities market’s potential, the extra investment should be worth it.

BP’s Russian exit would lead to existential limbo

By Chris Hughes
June 6, 2012

The UK oil major could turn grief into $20-$30 bln of cash if a deal materialises from the approaches for its half of the TNK-BP joint venture. But BP would then need to find new growth assets. And that could mean other difficult partners in challenging jurisdictions.

Pepsi & Anheuser’s cost-saving cocktail

October 14, 2009

The spoils are obvious. Estimates vary, but in the retail sector some half to two-thirds of planned synergies from a merger generally come from purchasing savings. If Pepsi and Anheuser can keep the administrative costs down, then the savings they can make in non-core areas should give them both a competitive advantage.