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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Offloading the $40 bln stake to shareholders, without a tax hit, is a long-awaited move. It will, however, leave Yahoo’s smaller core exposed, with Mayer’s two-and-a-half-year turnaround not yet bringing sales or profit growth. Luckily she has cover from Alibaba until late 2015.
The U.S. military knows it has a problem and wants to defend itself better. The World Economic Forum hopes to quantify the dangers for companies. But the White House, while right to talk up the issue, seems more focused on getting information than protecting it.
Former JPMorgan CFO Doug Braunstein and lawyer Jim Woolery have collected $250 mln and a CEO network to kick-start a fund to buy small stakes in companies and persuade them to do value-enhancing deals. The question is whether there’s room for permanently well-mannered activism.
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