Quentin's Feed
Jul 9, 2015
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Trade halts add to China’s Potemkin market problem

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

Trading halts add to China’s Potemkin market problem. Boom, bust and bailout are already making it hard for outsiders to take Chinese stocks seriously. An extraordinary slew of trading halts, trapping investors in hundreds of stocks, makes things worse. Bosses and bourses are buying temporary respite at the cost of their own credibility.

Jul 9, 2015
via Breakingviews

Trade halts add to China’s Potemkin market problem

Photo

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

Trading halts add to China’s Potemkin market problem. Boom, bust and bailout are already making it hard for outsiders to take Chinese stocks seriously. An extraordinary slew of trading halts, trapping investors in hundreds of stocks, makes things worse. Bosses and bourses are buying temporary respite at the cost of their own credibility.

Jun 18, 2015
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AirAsia takes multi-stop route to capital-raising

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

AirAsia is taking a multi-stop route to capital-raising. Concerns over debt and accounting have hammered shares in the region’s largest budget carrier. Boss Tony Fernandes says the company doesn’t need a rights issue and can recoup cash from overseas offshoots. But this requires investors to put fresh capital into loss-making affiliates. That’s not an easy sell.

Jun 15, 2015
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How to tell if Japan’s shareholder love-in is real

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

Japan Inc. faces unprecedented pressure to shape up. Lasting success would bring an enduring boost to return on equity. First comes a tough round of shareholder meetings. Next expect more buybacks, stake sales, and new targets. Then the hard work of bolstering businesses and consolidating fragmented sectors will begin.

Jun 15, 2015
via Breakingviews

How to tell if Japan’s shareholder love-in is real

Photo

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

Japan Inc. faces unprecedented pressure to shape up. Lasting success would bring an enduring boost to return on equity. First comes a tough round of shareholder meetings. Next expect more buybacks, stake sales, and new targets. Then the hard work of bolstering businesses and consolidating fragmented sectors will begin.

Jun 9, 2015
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Tesco’s South Korean unit stacks up for a buyout

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

Tesco’s South Korean unit stacks up for a buyout. Reuters says Britain’s biggest grocer has hired HSBC to help it sell its Homeplus business for some $6 billion. A disposal would do much to fix the British grocer’s strained balance sheet. Tesco might not miss the Korean earnings that much either.

Jun 9, 2015
via Breakingviews

Tesco’s South Korean unit stacks up for a buyout

Photo

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

Tesco’s South Korean unit stacks up for a buyout. Reuters says Britain’s biggest grocer has hired HSBC to help it sell its Homeplus business for some $6 billion. A disposal would do much to fix the British grocer’s strained balance sheet. Tesco might not miss the Korean earnings that much either.

Jun 2, 2015
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Toyota’s new hybrids should have stayed in the lab

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

Toyota’s new convertibles should have stayed in the lab. The world’s top automaker, courting long-term investors, has cobbled together a jalopy-style security that does little for Toyota and disadvantages existing shareholders. Better hope that Japan Inc. doesn’t follow suit.

The Model AA securities, named for the Japanese equivalent of the Ford Model T, can only be transferred with Toyota’s permission, making local retail investors the obvious buyers. Dividends, starting at 0.5 percent, are much lower than on ordinary shares, but ratchet up by the same amount annually for five years. After that, holders can convert them into ordinary shares or cash. Highly unusually, they carry voting rights from the start.

May 29, 2015
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BYD’s electric dream is even racier than Tesla’s

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

BYD’s electric dream is even racier than Tesla’s. The Chinese group is selling nearly $2 billion of new equity to help it make more batteries and design new cars. Like Elon Musk’s company, the Shenzhen group is a bet on a bright electric future and a charismatic founder, with added China hype. Although Warren Buffett is on board, BYD looks an even longer shot that its U.S. rival.

May 29, 2015
via Breakingviews

BYD’s electric dream is even racier than Tesla’s

Photo

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

BYD’s electric dream is even racier than Tesla’s. The Chinese group is selling nearly $2 billion of new equity to help it make more batteries and design new cars. Like Elon Musk’s company, the Shenzhen group is a bet on a bright electric future and a charismatic founder, with added China hype. Although Warren Buffett is on board, BYD looks an even longer shot that its U.S. rival.

    • About Quentin

      "Quentin Webb is a Reuters Breakingviews columnist, covering mergers and acquisitions, corporate finance and private equity. He is based in London. Before becoming a columnist, he was a news reporter for Reuters, where he was most recently European M&A correspondent. He has also worked as a correspondent in Brussels and as a credit-markets reporter. He joined Reuters in 2003 from Legalease, a legal publisher. He has a first-class degree in psychology from University College London."
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