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
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Dave Lewis is opting to take 75 pct of his bonus in shares. That aligns his 4.6 mln pound pay package better with shareholders, whose stock slumped last year. Since Tesco sales are now turning round, his timing may be shrewd. The group stocks a lot of things, but not hair shirts.
Sainsbury is disclosing fees suppliers pay to get their goods on shelves – equivalent to half its operating profit. Such complex agreements are falling out of favour with frustrated shoppers. Ditching them should help increase sales but won’t do much to end an ongoing price war.
The $60 bln implied value of Chinese fintech group Ant Financial suggests PayPal-style innovation on steroids. It’s not so simple, though. The Alibaba affiliate’s fortunes may be tied more closely to the vagaries of PRC state capitalism than to private-sector disruption.
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