Tom joined Breakingviews’ New York office in 2016 from Institutional Investor, where he worked as international editor. Previously, he reported on European business and politics for the International Herald Tribune (now part of The New York Times) from London, Brussels and Paris. He has covered major stories from Europe, Asia and Latin America on economics, financial regulatory reform, trade, asset management and business strategy.
The U.S. bank is introducing a cryptocurrency to help clients transfer money to each other instantaneously. Boss Jamie Dimon once called bitcoin a fraud, so even a baby step into the related technology is notable. But so far it looks like an overwrought fix for a simple problem.
The buyout firm is paying $3.7 bln for Ellie Mae, a cloud-based U.S. mortgage processing software outfit. Rising interest rates and slipping prices have overshadowed the housing market, but that makes automation more attractive to lenders. A debt-free balance sheet adds allure.
The $225 bln aerospace firm is considering whether to build a new jet. It stumbled with the 787 a decade ago. Since then, boss Dennis Muilenburg has fixed production snags, and customers are in better shape. A new wide-body could boost Boeing’s lead over Airbus.