Neil Unmack is a Reuters Breakingviews columnist based in London. He covers credit markets, hedge funds, and Italy. Previously he was a corporate finance reporter at Bloomberg News in London. He started his career as a financial journalist in 2001 at Euromoney Institutional Investor, where he covered structured finance for EuroWeek magazine. He was educated at Eton College and Oxford University, graduating with a first class degree in modern languages. Follow Neil on Twitter @unmack1
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The Italian eyewear company has replaced its single chief executive with two co-heads. The model is complex and relies heavily on 79-year-old founder Chairman Leonardo Del Vecchio. Like the clunky Google Glass smart specs Luxottica is partnering on, it needs further work.
Mario Draghi expects investors to come if he builds a market that he admits barely exists. Purchases of asset-backed securities might help growth and boost inflation. Yet the obstacles are substantial, and regulation is a thorn. Government aid would help.
The French media group says it favours Telefonica’s $10 bln bid for its Brazilian mobile unit. Telefonica could pay more, but it’s good that Vivendi has chosen the surest exit for shareholders. As for rival bidder Telecom Italia, it now faces an uncertain future.
- Germany not yet moved by euro zone reshuffle
- Time nudges Pfizer and Astra a bit further apart
- Blackstone finds way to outsource skin in the game
- Luxottica: nice specs, bad optics
- Austrian banks haunted by Europe’s timid bail-ins
- Junk debt blows its own perfect storm
- South Africa’s bank bail-in better than Portugal’s