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: firstname.lastname@example.org
The U.S. investment bank joins a long list of counterfeits that includes Apple stores, police stations and British villages. They’re easy to mock, but also veil a broader readiness to bend rules in search of profit. Properly channelled, that ingenuity and pluck could be powerful.
BHP Billiton has raised its payout even as prices fall. That helps win investor support for its aggressive iron ore production strategy. Yet across the sector, funding generous payouts will become tough unless supply and demand rebalance. There is little to suggest they will.
The plunge in WTI to below $40 a barrel leaves most of the U.S. shale industry unprofitable and budgets of many countries in the red. Yet cost cuts, currency devaluations and tolerance for losses keep black gold pumping. That may anchor oil at what seem like unsustainable prices.
- Yum adjusts Chinese flavouring, now for packaging
- Glencore tripped up by faith in rational markets
- The Economist shows faith in own self-worth
- China currency move reflects realism over idealism
- Trump and China give opposing lessons in failure
- Coca-Cola bottling deal targets irksome tax hiccup
- Rio Tinto is winning in dirty ore wars