Considered View

Facebook gives Match’s parent a reason to split

20 September 2019

Barry Diller’s IAC may separate its holdings in the $22 bln dating site to uncork value. It would give some agility to a company already experimenting with new ideas like video and gaming. Mark Zuckerberg moving on Match’s turf provides another good excuse to make the move.

Climate strikes give governments cover to act

20 September 2019

Millions are downing textbooks and tools to demand more action against global warming. People power fueled a mass aversion to plastic. And many ideas and financing vehicles to enable the climate fight already exist. The worldwide protests allow politicians to take a tougher line.

Germany’s climate menu mixes small beer and fudge

20 September 2019

Angela Merkel’s coalition will begin pricing carbon at 26 euros a tonne to reduce emissions. That gives big polluters little incentive to clean up. It also limits Berlin’s need to disguise that its new 50 bln euro fund to smooth the transition will stay off-balance sheet.

Berlusconi puts Bolloré in a corner at Mediaset

20 September 2019

The Italian tycoon has found a clever way to thwart his French rival’s attempts to kill Mediaset’s merger plan. Small fund Peninsula has agreed to put up the almost 1 bln euros needed to buy out Vivendi. The surprise move gives Berlusconi the upper hand in the ongoing struggle.

Bold tax cut hands stimulus charge to India Inc

20 September 2019

New Delhi is making the most of a sharp slowdown, cutting corporate taxes from 30% to 22%. Companies can use savings to repay debt, invest, cut prices or pay bonuses. The faster benefits are shared with consumers, the sooner they will spread badly-needed economic cheer.

Hong Kong’s first UK exchange foray clouds second

20 September 2019

Its 2012 takeover of the London Metal Exchange promised to preserve the institution and expand in China. Hong Kong’s bourse honoured the first, but Beijing made its own way in commodities. Returns have been poor too. That history informs its $37 bln London Stock Exchange bid.

Beijing’s monetary easing path is a conflicted one

20 September 2019

China has trimmed its new one-year benchmark lending rate to 4.2%. Policymakers want to boost slowing growth, but without fueling a property or credit bubble. The result is another half-step towards loosening that will disappoint those hoping for a quick stimulus.

Jardine maps a road to younger Asia for its peers

20 September 2019

The $41-bln conglomerate turned to the southeast when it moved out of Hong Kong ahead of 1997. It thrived, betting on cars in Indonesia and milk in Vietnam. Those economies have cooled of late but long-term prospects, plus uncertainty up north, will encourage more to follow.

U.S. antitrust effort cries out for a monopoly

19 September 2019

The U.S. Department of Justice and FTC admit to squabbling over turf as they target the likes of Amazon and Facebook. Both agencies also could use more money and people to take on deep-pocketed tech giants. Pooling resources and power through a merger is a natural solution.

JPMorgan shares too much space with WeWork

19 September 2019

Jamie Dimon’s outfit has helped line up $6 bln in credit for the office sublessor and lent millions to CEO Adam Neumann. Funds advised by the bank are also one of the firm’s largest investors. With WeWork’s IPO increasingly in doubt, the ties call into question JPM’s tech savvy.