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Mar 20, 2015
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China’s world bank has rickety foundations

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The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

If any country knows about the risks and rewards of building infrastructure, it is China. Over the past two decades, the People’s Republic has erected countless roads, dams, power plants, bridges and airports in its pursuit of economic development. The result has been a surge in debt, waste, corruption and pollution. It’s a dubious foundation from which to construct the new Asian Infrastructure Investment Bank.

Mar 16, 2015
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GE’s crumbs make for Australian buyout feast

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By Peter Thal Larsen

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

General Electric’s desire to shrink its finance arm has served up a takeover feast down under. The sale of the U.S. conglomerate’s Australian consumer lending business ranks as the country’s largest-ever private equity transaction. But it’s little more than a rounding error on GE’s balance sheet.

Mar 16, 2015
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GE’s crumbs make for Australian buyout feast

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By Peter Thal Larsen

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

General Electric’s desire to shrink its finance arm has served up a takeover feast down under. The sale of the U.S. conglomerate’s Australian consumer lending business ranks as the country’s largest-ever private equity transaction. But it’s little more than a rounding error on GE’s balance sheet.

Mar 10, 2015
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Credit Suisse buys some insurance with Pru CEO

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By Peter Thal Larsen

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

So much for the banking brain drain. Credit Suisse is hiring Tidjane Thiam from UK insurer Prudential to replace veteran CEO Brady Dougan, according to people familiar with the matter. It’s a surprising vote of confidence in the Swiss institution, and the industry.

Mar 10, 2015
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Credit Suisse buys some insurance with Pru CEO

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By Peter Thal Larsen

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

So much for the banking brain drain. Credit Suisse is hiring Tidjane Thiam from UK insurer Prudential to replace veteran CEO Brady Dougan, according to people familiar with the matter. It’s a surprising vote of confidence in the Swiss institution, and the industry.

Mar 9, 2015
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Kaisa haircut is bad omen for China property debt

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By Peter Thal Larsen

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Kaisa’s haircut for offshore bondholders is a bad omen for China’s property sector. The troubled developer’s ballooning debt and evaporating cash leaves creditors with little choice but to accept a restructuring that proposes to lower interest payments and extend maturities by five years on $2.3 billion of offshore bonds. The bigger question for investors is whether Kaisa is an isolated case.

Mar 9, 2015
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Kaisa haircut is bad omen for China property debt

Photo

By Peter Thal Larsen

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Kaisa’s haircut for offshore bondholders is a bad omen for China’s property sector. The troubled developer’s ballooning debt and evaporating cash leaves creditors with little choice but to accept a restructuring that proposes to lower interest payments and extend maturities by five years on $2.3 billion of offshore bonds. The bigger question for investors is whether Kaisa is an isolated case.

Mar 5, 2015
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China’s lower growth target is missed opportunity

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By Peter Thal Larsen

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

China’s new target for GDP growth is a missed opportunity. Premier Li Keqiang says economic output will expand by “about 7 percent” this year. Though the lack of precision is welcome, the People’s Republic would be better off without its big, reassuring objective.

Feb 27, 2015
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Review: Building HSBC’s sprawling, flawed empire

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By Peter Thal Larsen

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

On March 3 it will be exactly 150 years since the Hongkong and Shanghai Banking Corporation opened for business. Normally such a milestone would prompt celebration: after all, the bank founded by colonial merchants now ranks among the world’s largest financial institutions. However, any merriment is likely to be mute. For HSBC the birthday brings challenges as great as any it has ever faced.

Feb 27, 2015
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Review: Building HSBC’s sprawling, flawed empire

Photo

By Peter Thal Larsen

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

On March 3 it will be exactly 150 years since the Hongkong and Shanghai Banking Corporation opened for business. Normally such a milestone would prompt celebration: after all, the bank founded by colonial merchants now ranks among the world’s largest financial institutions. However, any merriment is likely to be mute. For HSBC the birthday brings challenges as great as any it has ever faced.

    • About Peter

      "Peter is Assistant Editor of Reuters Breakingviews, based in London. He oversees coverage of financial services and regulation. Prior to joining Reuters, Peter spent 10 years at the Financial Times. From 2004 to 2009 he was the FT’s banking editor, leading the paper’s award-winning coverage of global banking during the credit crunch. Between 2000 and 2004 Peter reported for the FT from New York. He played a leading role in the paper’s coverage of the 9/11 attacks and their aftermath. A Dutch national, Peter has degrees from Bristol University and the London School of Economics."
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