Journalists
Pierre Briançon is breakingviews' Paris correspondent. He was Dow Jones Newswires Paris Bureau Chief from 2003-2006. Previously, he had been: business editor of Libération as well as its Moscow and Washington correspondents; deputy editor of L’Expansion; and chief executive and editor of B-toB Avenue, an information website. He is also the author of Messier Story (2002), on the fall of Vivendi’s former chief executive, and Héritiers du désastre (1992) on the collapse of the Soviet Union.
Herman Van Rompuy lacks the star power that other candidates for the first president of the EU Council may have had. But the former Belgian PM has a chance to make the job an effective one, if he wastes no time showing he can stand up to the Franco-German entente.
Frenchman Jean-Claude Trichet’s term at the head of the central bank ends in 2011. Germany hints it should have the next shot, which smacks of political give-and-take. Bundesbank president Axel Weber is a strong candidate, but he shouldn’t get the job just because he’s German.
The bloc’s politicians are thinking about regulating the terms of hedge funds managers’ pay. That would be regulatory overkill. Hedge funds didn’t create the crisis, managers’ compensation is already linked to performance – and hedge funds aren't insured by taxpayers.
In September, the French group said it didn't need to raise capital. But now Axa wants to take full control of the best assets in its majority-owned Asian operation. A E2bn rights issue will allow it to raise the already-rejected offer, and to expand in emerging markets.
The US carmaker has scrapped the sale of its European division to Canada’s Magna after Brussels questioned German state support for the deal. Angela Merkel will be irked. But GM can now aggressively restructure the struggling subsidiary with less political meddling.
Europe’s competition commissioner Neelie Kroes has managed to keep the continent’s reeling bank sector from shrinking into an oligopoly. She managed to extract tough concessions to protect consumers, without crippling ailing institutions. Kroes has earned another turn.
The incoming chairman and chief executive of EDF says he doesn't want to merge the French electricity group with Veolia, the environment services company he currently heads. But he still wants EDF to become Veolia's dominant shareholder. This is a bad idea.
A Russian lender chaired by Vladimir Putin may take a stake in Rusal when the metals giant floats. With Rusal owing E4.5bn to the state bank, this would amount to a partial debt-for-equity swap. But Kremlin involvement could also make the IPO a tougher sell.
The French retail and luxury conglomerate is pushing the button on a float of CFAO, its African car and pharmaceuticals business. The valuation is at the lower end of estimates. But markets may not yet be ready to buy an African growth story.
The world's largest aluminium producer must clinch a deal with western creditors before it can pursue a crucial listing in Hong Kong and Paris by the year end. Failure could leave owner Oleg Deripaska having to buy out minority investors – which the tycoon cannot afford to do.
The eurozone's largest bank by deposits posted a 45% jump in Q3 net profit thanks in part to its Fortis acquisition. BNP continues to draw strength from its no-nonsense universal banking model. With a rights issue having boosted capital, BNP mustn't become too conservative.
The Russian president is meddling in Ukrainian politics by hinting that a new gas row is looming, and that Europe should help Kiev pay its bills. But he has a point. The EU hasn’t done enough to assert its influence and help Ukraine sort out its industrial and political mess.
Ten months after backing the French energy group’s US strategy – including a $4.5bn bid for Constellation nuclear assets – the state is to support new CEO Henri Proglio’s plans to exit America. France has been a terrible custodian. What better case for EDF’s full privatisation?
The European Central Bank is urging the EU to soften its proposed hedge-fund directive and ensure that it is harmonised with US reforms. The proposals sound sensible. But by sticking its oar in, the central bank is also staking a claim to be Europe’s top financial regulator.