Search League Tables

Friday, 25 July 2014

BREAKINGVIEWS

Shareholders punish Amazon with whole new multiple

25 July 2014

The internet retailer’s stock trades at 112 times next year’s earnings, even though it barely turns a profit. A $126 mln Q2 loss, with worse to come, has investors worried. They wiped out $16.5 bln of value after hours, more than six times Amazon’s net income since its 1997 IPO.

People talk in front of a Baidu's company logo at Baidu's headquarters in Beijing January 16, 2014.

Baidu’s costly transition to mobile is not over

25 July 2014

The Chinese search engine operator’s share of revenue from mobile jumped to 30 pct. Better-than-expected margins suggest heavy investments are paying off. But smaller search rivals backed by giants Alibaba and Tencent are creeping in. Baidu’s margin squeeze may not be over yet.

Visitors walk past the Qualcomm stand at the Mobile World Congress in Barcelona, February 24, 2014.

Qualcomm turns from predator to prey in China

25 July 2014

Beijing has branded the US chipmaker a monopolist, even as its dominance, which rests on smartphone chips and 3G patents, may be sliding. If that weren’t enough, some Chinese customers aren’t paying their dues. As friction over US-China spying persists, things may only get worse.

Oil

M&A puts driller MLPs on more solid ground

24 July 2014

Breitburn and QR are probably just the first of several tiddler explorers to tie the knot. Such small companies only have a few wells each, leaving them prey to painful disruption if there’s a problem. Bulking up should ensure the steadier income MLP investors crave.

Ken Jacobs, Chief Executive Officer of Lazard North America,  speaks during the Reuters Investment Banking Summit in New York, November 15, 2006. (UNITED STATES)

Lazard shows Wall Street power of simplicity

24 July 2014

The M&A adviser and fund manager’s bumper Q2 makes larger rivals look staid. Cost cuts are paying off, return on equity is running at an eye-popping 68 pct, and its business isn’t under the regulatory pressure being applied to big lenders. Mega-banks must feel a touch of envy.

A Goldman Sachs sign is seen above the floor of the New York Stock Exchange shortly after the opening bell in the Manhattan borough of New York January 24, 2014.

Goldman's new lead director better as chairman

25 July 2014

The bank tapped Credit Suisse’s former client kingpin Adebayo Ogunlesi to be new lead director. Though he has never led a public company, he runs a private firm. His 30 years of investment banking experience also will come in handy. If only Goldman saw fit to call him chairman.

Ford logos are seen at the assembly line of a Ford car factory

Ford must navigate tricky global terrain

24 July 2014

The automaker aims to lift pre-tax income by up to 75 pct over the next few years. With U.S. sales now close to a historic peak, it puts a bigger onus on the overseas operations, which aren’t yet fully up to speed. That may leave Ford’s hopes resting squarely on its F-150 truck.

News Corp. chief Rupert Murdoch makes a comment to reporters as he leaves a midtown Manhattan office building following meetings

Murdoch calls on European outposts for Time Warner

24 July 2014

The mogul’s Fox empire is poised to sell pay-TV arms in Italy and Germany to BSkyB, his UK satellite affiliate. There’s strategic logic to the asset shuffle and proceeds could help sweeten the $80 bln U.S. bid. How Murdoch treats many non-Murdoch owners involved is the linchpin. 

A GM sign is seen outside the Medved General Motors car dealership in Arvada, Colorado

GM keeps driving through recall roadblocks

24 July 2014

The automaker is still feeling the financial pain of its faulty ignition fiasco, adding another $1.3 bln of charges in the second quarter. But car sales are holding up well, with incentives low. That’s good news for CEO Mary Barra and gives her breathing room to fix GM’s culture.

BREAKINGVIEWS TV ON INSIDER

Columns

Edward Hadas

Edward Hadas: Growth in a rich and crowded world

23 July 2014

Has the global growth rate slowed? The debate is hot and not very illuminating. Reported numbers prove nothing and historical analysis is often confused. As more material desires are met, there is less room for big leaps forward. But don’t write off the human imagination.

Rob Cox

Rob Cox: Listen to Murdoch's muzzled minorities

22 July 2014

Most Fox believers are relegated to owning non-voting stock, the same second-tier paper on offer to Time Warner shareholders. While there’s broad investor overlap in the two companies, the record shows a clear distaste for the imperialistic ways of media mogul Rupert Murdoch.

Hugo Dixon

Hugo Dixon: What is EU capital markets union?

21 July 2014

Jean-Claude Juncker, the European Commission’s president-elect, has embraced the goal of creating such a framework. But so far it is more of a slogan than a set of policy actions. Here’s an attempt to flesh out the idea.

Features

John Foley

The perks and pitfalls of depending on Jack Ma

21 July 2014

Alibaba’s founder, chairman and spiritual sultan will continue to exert near-total control of the Chinese e-commerce giant even after its massive IPO. For prospective shareholders, the question is whether Ma can be trusted to act in their interest. The answer is a qualified yes.

Stephanie Rogan

Review: Inside commodity traders' "Secret Club"

18 July 2014

During the 2000s, speculating in commodities became the new fad, contributing to soaring prices and increased volatility, says Kate Kelly in a new book. She oversimplifies some of the dynamics of this complex world, but the powerful club she exposes should not be overlooked.