Richard Beales joined Breakingviews in 2007 from the Financial Times, where he was U.S. markets editor and a Lex columnist. Prior to the FT, he spent more than 10 years as an investment banker at Schroders and Citigroup, based largely in Hong Kong and working on project finance, mergers and acquisitions. He has also lived in Sydney, Australia, and began his working life in London at Mars & Co, a management consultancy. Richard holds a masters in business journalism from New York University and a degree in biochemistry from St John’s College, Cambridge. Follow Richard on Twitter @richardbeales1
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The serial acquirer is buying semiconductor rival Broadcom for more than $36 bln. Cost cuts should just about cover the 30 pct premium. Avago’s track record, the cash-and-stock mix and the logic of industry mergers all add up, too. Only an interloper could spoil the party.
The value of Danny Meyer’s upscale burger chain shot up 8.5 pct, seemingly on news that it may start outlets serving up chicken-based fare. Investors seeking signs of exuberance in wearables might do better looking at edibles. Shake Shack is now worth 550 times earnings.
The scourge of misbehaving banks is leaving New York’s financial watchdog to start a firm advising on cybersecurity. Risks from malware, backdoors and the like are rising in prominence, taking top billing in the U.S. uber-regulator’s annual report. Lawsky’s timing may be spot on.
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- Bernanke musters maximum revolving-door dignity