Breakingviews

Euronext IPO will be a tough sell

June 10, 2014

The European exchanges group reckons it’s worth up to 1.8 bln euros. The pitch relies on a 5 pct revenue growth target. With turnover declining since 2011, that’s optimistic. Anchor investors have a vested interest in backing the float. For other buyers, it’s a leap of faith.

Man U’s New York listing crowns race to the bottom

June 25, 2012

Most of the $24 bln raised by the 21 top U.S. IPOs this year consisted of shares with lousy voting rights. Greater leeway for poor governance in the Big Apple rather than Americans going gaga for the sport is likely to be the greater driver of the UK soccer club’s market debut.

Knight shows that next creative loss is never far

August 3, 2012

The market-maker’s unlikely $440 mln hit may put its future in doubt. The software error behind it, fresh on the heels of UBS’ head-scratching Facebook blunder, proves investors can never be too imaginative about the potential to lose money. Risk just can’t be regulated away.

America shouldn’t fear German takeover of NYSE

By Reuters Staff
February 14, 2011

U.S. politicians are getting antsy -- even about the merged entity's name -- and some may use the deal to criticize last year's financial reform legislation. That's a superficial and illogical response.

John Thain checks into career rehab at CIT

February 8, 2010

John Thain has checked into rehab -- career rehab that is, at U.S. midmarket lender CIT.