Breakingviews on Twitter
Search League Tables

Tuesday, 28 April 2015

EMEA

Anshu Jain (R) and Juergen Fitschen, co-CEOs of Deutsche Bank

Deutsche Bank sticks to investment banking guns

27 April 2015

The German lender is chopping up to 17 pct of investment banking assets. That sounds hefty, but pales next to a 53 pct shrinkage at Barclays. Partly out of necessity, Deutsche is still betting that fixed income will rebound. The first quarter had as much evidence against as for.

Ferdinand Piech (R), chairman of the supervisory board of German carmaker Volkswagen walks beside President and CEO of Porsche Automobil Holding SE Martin Winterkorn as they attend the annual shareholders meeting of Porsche in Leipzig.

VW's best strategic options may be the simple ones

27 April 2015

Ferdinand Piech’s exit gives Volkswagen room to rethink. Europe’s largest carmaker can ditch the former chairman’s more grandiose growth visions. It can create ample additional value by shunning M&A and focussing on existing strengths, cost control and cash generation. 

Deutsche Bank

Deutsche Bank revamp puts capital ahead of returns

27 April 2015

Exiting Postbank, and cutting 200 bln euros of investment bank assets and 3.5 bln euros of costs, is what the German lender needs. A 5 pct leverage ratio goal is also higher than expected, raising the bar for European rivals. But it means investors face a wait for decent returns.

Hugo Dixon

Hugo Dixon: UK election poses complex EU exit risk

27 April 2015

The chance of Britain quitting the EU will depend on the outcome of next month’s general election. But the question is unlikely to be simple given the probable involvement of the SNP or the Lib Dems in supporting a government led by either Labour or the Conservatives.

Greek Finance Minister Yanis Varoufakis attends the annual conference of the Institute for New Economic Thinking (INET) at the Organisation for Economic Cooperation and Development (OECD) headquarters in Paris April 9, 2015.

Varoufakis finds economics PhD gives little wisdom

27 April 2015

The Greek finance minister is learning that politics requires different skills from graduate school and media success. Some economists, from Imperial Russia to modern Indonesia, have done brilliantly, but Yanis Varoufakis could help write a book on what a doctorate isn’t good for. 

A view shows the Indian headquarters of iGate in the southern Indian city of Bangalore February 4, 2013.

Capgemini reboots with big bet on North America

27 April 2015

The once-cautious French group is bidding $4 bln for private equity-backed IGATE. The friendly deal is at a pricey 22 times 2015 earnings. Still, the boldness could pay off. The IT services giant gets a faster-growing, higher-margin business, heft stateside, and tax benefits too.

Ferdinand Piech, chairman of the supervisory board of Volkswagen

Piech exit opens door to VW governance revamp

26 April 2015

The chairman’s resignation ends a worrying spate of boardroom conflict at Volkswagen. But there is a risk. Europe’s biggest carmaker may struggle without Ferdinand Piech’s tough love. Revamping its unwieldy and outdated governance structure can keep the group on the road.

VIDEOS