John Foley is Reuters Breakingviews' editor for Europe, the Middle East and Africa. He relocated from Beijing in July 2015. John established Breakingviews’ Hong Kong bureau in 2009, and has written on China’s economy and financial system, mergers and acquisitions, capital markets and consumer goods. Before joining Breakingviews in 2004, John worked as a copywriter for a London-based advertising agency. He read English Literature at Exeter College, Oxford. Follow John on Twitter @johnsfoley
- Tel: +44 (0)20 7542 2410
- E-mail: email@example.com
The Thanksgiving shopping orgy, recently adopted by the UK, is unhelpful for all concerned. Consumer credit is spiralling, confidence falling and retail margins are under pressure. If shoppers and retailers take a rational view of low prices, the festival will snuff itself out.
The UK-based insurance broker’s $18 bln union with U.S. consultancy Towers Watson is on the rocks. Investors have turned some $5 bln of promised synergy value into $1 bln of value destruction. A rescue would probably unbalance the economics, undermining the promised equality.
The French gas company’s $13.4 billion acquisition melds two complementary businesses – the larger Air Liquide supplies mainly big customers; its U.S. rival serves smaller outfits. Yet unless the buyer can superheat the synergies, the deal will leave its shareholders worse off.
- AB InBev's deal skills turn into an embarrassment
- UK brokers take opposing bets on future of trading
- Amundi sets IPO price range with a Gallic shrug
- Pfizer may pay dearly for Allergan tax-lite charms
- Beijing backing for UK nuclear comes at high price
- Yum split offers value with chance of aftertaste
- China is unreliable new best friend for Britain