Richard's Feed
May 28, 2015
via Breakingviews

Avago offers textbook case for chip consolidation

Photo

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

Avago Technologies is offering what might become a textbook merger case. In its $36 billion-plus acquisition of rival chipmaker Broadcom, Avago’s record, industry logic, the cash-and-stock mix, a premium just under 30 percent and synergies all add up. Only an interloper could spoil the party.

May 22, 2015
via Breakingviews

Shake Shack unveils a cluckin’ $250 mln sandwich

Photo

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

A once humble New York hot-dog stand may have just turned into the ultimate market indicator. Shake Shack, which went public in January, hit a new record high share price on Thursday, implausibly boosting the value of restaurateur Danny Meyer’s creation by $250 million, to $3.3 billion.

Apr 17, 2015
via Breakingviews

Bloomberg outage highlights another bank weakness

Photo

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

Bloomberg’s global outage on Friday highlights yet another banking sector weakness. The financial data network’s downtime may have been a problem only for the richest fraction of the top 1 percent. But it prompted enough worry for the Bank of England to remind banks that it’s there as a lender of last resort, raising questions about traders’ heavy reliance on a few fallible systems.

Apr 17, 2015
via Breakingviews

Bloomberg outage highlights another bank weakness

Photo

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

Bloomberg’s global outage on Friday highlights yet another banking sector weakness. The financial data network’s downtime may have been a problem only for the richest fraction of the top 1 percent. But it prompted enough worry for the Bank of England to remind banks that it’s there as a lender of last resort, raising questions about traders’ heavy reliance on a few fallible systems.

Apr 16, 2015
via Breakingviews

Bernanke musters maximum revolving-door dignity

Photo

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

Ben Bernanke is following a well-worn path to the private sector. The Federal Reserve chief turned economics blogger is going to advise Ken Griffin’s $25 billion hedge fund firm, Citadel Investment Group. Critics may cry foul. But even former public servants are entitled to work for pay.

Apr 16, 2015
via Breakingviews

Bernanke musters maximum revolving-door dignity

Photo

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

Ben Bernanke is following a well-worn path to the private sector. The Federal Reserve chief turned economics blogger is going to advise Ken Griffin’s $25 billion hedge fund firm, Citadel Investment Group. Critics may cry foul. But even former public servants are entitled to work for pay.

Mar 25, 2015
via Breakingviews

Kraft investors bet Heinz can refill secret sauce

Photo

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

H.J. Heinz’s operating margins rocketed from 18 percent to 26 percent after 3G Capital and Warren Buffett’s Berkshire Hathaway took the ketchup maker private two years ago. In welcoming a merger that creates a company worth perhaps $80 billion, Kraft Foods investors are betting on more of the same.

Mar 13, 2015
via Breakingviews

BNY Mellon spat hints at activism getting crowded

Photo

By Richard Beales

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

Bank of New York Mellon is under fire. Again. Marcato Capital Management is gunning for Gerald Hassell, chief executive of the $44 billion U.S. financial institution. That’s after Nelson Peltz’s Trian, armed with a similar critique, already secured a board seat. Activism is starting to look like a crowded strategy.

Mar 13, 2015
via Breakingviews

BNY Mellon spat hints at activism getting crowded

Photo

By Richard Beales

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

Bank of New York Mellon is under fire. Again. Marcato Capital Management is gunning for Gerald Hassell, chief executive of the $44 billion U.S. financial institution. That’s after Nelson Peltz’s Trian, armed with a similar critique, already secured a board seat. Activism is starting to look like a crowded strategy.

Jan 29, 2015
via Breakingviews

Say “ni hao” to Jack Ma’s Amazon-style volatility

Photo

By Richard Beales

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

Jack Ma is a force of nature, and he pushes Alibaba in unexpected directions. Like counterpart Jeff Bezos at Amazon, Ma has built online retail dominance. But “predictable” isn’t a word to describe either company. The Chinese group’s stock tumbled more than 10 percent on Thursday following its latest financial results. That followed a 4.4 percent decline on Wednesday after a Chinese regulator targeted Alibaba. The two-day loss in market value tallies to nearly $40 billion.

    • About Richard

      "Richard Beales joined Breakingviews.com in 2007 from the Financial Times, where he was US markets editor and a Lex columnist. Prior to the FT, he spent more than 10 years as an investment banker, based largely in Hong Kong. He was a director in Citigroup’s mergers team, and before that head of Schroders’ regional project finance group. He has also lived briefly in Sydney, Australia, and began his working life in London at Mars & Co, a management consultancy, in 1989. Richard holds a masters in business journalism from New York University and a degree in biochemistry from St John’s ..."
    • Follow Richard