James Murdoch’s cut-size India deal has some logic 14 Apr 2023 Rupert Murdoch’s son and ex-Disney executive Uday Shankar are pumping $530 mln into a cricket-rights owning joint venture with Reliance Industries, a third of the original amount. India’s streaming war may be heating up, but both sides had good reasons for a rethink.
Capital Calls: Buyouts are getting complicated 13 Apr 2023 Concise views on global finance: Both hand sanitizer maker Diversey and software developer Qualtrics recently sold to private equity firms, but new regulatory filings show dealmakers weighing increasing risks.
Capital Calls: Inflation gets sticky 12 Apr 2023 Concise views on global finance: US inflation is increasingly coming from non-essential goods’ prices that rarely drop. That’s a bad sign for Americans since it signals a longer battle against price hikes and even higher interest rates.
Capital Calls: Disney, Jobs, Aesop 4 Apr 2023 Concise views on global finance: Boss Bob Iger accused Florida Governor Ron DeSantis of ill will, but plans to spend plenty in the Sunshine State; US job openings data might be skewed by fake postings; Natura’s $2.5 bln Aesop sale is a blueprint for stressed M&A.
Jack Ma is Beijing’s prodigal entrepreneur 28 Mar 2023 The Alibaba founder is back in China, prompting an ephemeral Alibaba stock rally. His rehabilitation appears part of an official campaign to revive business confidence, and has a whiff of desperation. It highlights Beijing's love-hate relationship with the private sector.
Xavier Niel can feast on European telco misery 27 Mar 2023 The French tycoon has assembled a privately owned telecoms empire worth about $33 bln, Breakingviews calculates. Behind the scenes he’s manoeuvring to further spread his wings. Purchases of stakes in Vodafone and Luxembourg-based Millicom signal the scale of his ambition.
Capital Calls: Saudi and Credit Suisse, EU patents 27 Mar 2023 Concise views on global finance: The resignation of the chairman of Saudi National Bank, Credit Suisse’s largest shareholder, may prompt a quiet period for other investors; big companies want Europe’s new system for registering intellectual property to cover more countries.
Capital Calls: FedEx delivers, for now 17 Mar 2023 Concise views on global finance: Shares in the delivery company shot up over 10% on Friday, as cost-cutting measures pay off. Those benefits could easily dwindle.
Bolloré buyback delays possible Vivendi M&A action 15 Mar 2023 The French tycoon’s eponymous holding company is buying back 10% of its shares, potentially boosting the family’s control. The outlay drains cash that could have been used to boost its stake in media group Vivendi. But that’s still a logical endpoint for Bolloré and his children.
Malaysia can move on from billion-dollar-whale hunt 8 Mar 2023 Kuala Lumpur is closer to recouping all debt from the 1MDB scandal after Abu Dhabi’s $1.8 bln settlement. Some mopping-up remains, though a punt to wrangle more out of Goldman Sachs looks a long shot. It’s time to draw a line under the ugly sovereign wealth fund saga.
Adani contrarian is a win for Hindenburg, too 3 Mar 2023 GQG’s $1.9 bln investment is a fillip for the tycoon. But shares of his firms are close to the short-seller’s target. And a court has ordered India’s securities watchdog to probe its allegations. Even if cleared, Adani may struggle to secure the backing of mainstream financiers.
Capital Calls: Starbucks 21 Feb 2023 Concise views on global finance: The $123 billion coffee chain’s new patent filing speaks to popular TikTok campaigns for more bespoke beverages – and other labor challenges.
Capital Calls: Schneider’s sustainable CEO 16 Feb 2023 Concise views on global finance: Jean-Pascal Tricoire’s departure as chief executive of the French industrial software group after nearly two decades at the helm defies the trend of short-lived or underperforming corporate bosses.
The big bet against Japan’s new central bank boss 16 Feb 2023 The world’s third largest economy picked Kazuo Ueda to be governor of the Bank of Japan. In this Viewsroom podcast, Breakingviews columnists discuss the challenges facing this outsider as international investors continue to bet against the BOJ keeping rates low.
Capital Calls: Rothschilds in charge 14 Feb 2023 Concise views on global finance: The storied banking dynasty wants to buy out minority investors on the cheap, and they’ll probably get away with it.
Bank of Japan’s new governor starts on back foot 14 Feb 2023 Academic Kazuo Ueda will replace Haruhiko Kuroda atop the central bank after the first choice demurred. He’s respected but lacks factional support and faces an unpopular prime minister pushing an expensive agenda. His appointment augurs a rocky transition at a delicate time.
MSCI’s Adani cut signals fat tail risks for India 10 Feb 2023 The global index provider cut its determined free floats of four Adani firms, undermining the efforts of local officials to downplay concerns about the group’s governance. Though India can manage the fallout at home, foreign scrutiny represents a lingering threat.
Capital Calls: TikTok’s Beltway visit 30 Jan 2023 Concise views on global finance: The social media app’s CEO Shou Zi Chew is going in front of a U.S. Congressional committee. But it’s leaders outside of Washington that Chew needs to convince.
Capital Calls: Data falsehoods 26 Jan 2023 Concise views on global finance: Better-than-expected U.S. GDP and durable goods data suggest the country might be spared from a recession. But exclude Boeing sales and corporate stockpiling, and the economic outlook is less rosy.
Adani’s buy now, pay later fundraise could sting 26 Jan 2023 The world’s third-richest man Gautam Adani won anchor investor backing for a $2.4 bln share sale by his flagship company, including from Abu Dhabi’s wealth fund. Yet an Adani group selloff resulting from a short attack means terms that were meant to reward buyers could hurt them.