Dominic is a London-based columnist covering investment banking. Prior to Breakingviews, he spent two years at moneydealer ICAP, where he brokered equity derivatives trades between investment banks, high-frequency trading firms and hedge funds. He has more than five years of financial journalism experience, including stints as news editor and investment banking editor at Financial News. He has also written for The Wall Street Journal Europe. Dominic holds an MA in Classics from Oxford University and an MSc in Development Management from the London School of Economics. Follow Dominic on Twitter @DominicElliott
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The UK market watchdog wants fund managers to pay for stock analysis themselves instead of using client money. Pricing is opaque at best, and investors need protection. But the change could favour big banks and hike funding costs for smaller companies. Evolution is better.
The German semiconductor company is paying a rich 48 pct premium to snap up International Rectifier. The fit is complementary: its U.S. peer’s strength is chips that consume less power than the typical Infineon product. But top-notch execution is required.
The German dotcom duplicator says it’s worth 4.3 bln euros after fresh investment. That’s a third more than its value a fortnight ago, with new assets. Investors in a possible IPO would still need to stomach a combination of emerging-market, early-stage investing and tech risks.
- BlackRock is right: European IPOs need more work
- Credit Agricole’s BES exit is predictably clumsy
- Underwriters share blame in Portuguese bank fiasco
- Barclays turnaround stays on the rails – for now
- Deutsche/UBS: there’s life in EU bond trading yet
- Ripping off the BoE is new low for British banking
- RBS gains much-needed buffer against bad news