breakingviews.com

Exxon vs. Cnooc

Mon, 12 Oct 2009 08:19:16 -0700

Exxon's $4bn deal to buy a stake in a field off the shores of Ghana may now be disrupted by a rival bid from China's Cnooc. It's another reminder of the growing challenges faced by private sector oil majors. Aliza Rosenbaum explains.

Return to "real" numbers 10/06/2009

Tue, 06 Oct 2009 07:17:16 -0700

A recent study showed that reporting pro forma earnings increased short selling. Martin Hutchinson argues that this is well deserved, and that the market would benefit from a return to "real" numbers.

Warming up for growth? 09/23/2009

Wed, 23 Sep 2009 12:32:02 -0700

President Barack Obama addressed UN delegates on Wednesday in New York, emphasizing four main points. Martin Hutchinson says global economic growth has much greater priority over the others.

Kerviel/pay limits 09/17/2009

Thu, 17 Sep 2009 07:46:57 -0700

Speaking on French television, former SocGen trader Jérôme SocGen rogue trader Jérôme Kerviel has gone public with his thoughts on limiting bankers' pay. Aliza Rosenbaum explains why he thinks tougher regulation won't be effective.

Warren Buffett 09/16/2009

Wed, 16 Sep 2009 07:52:26 -0700

Warren Buffett is Kraft’s biggest shareholder. Maybe if the company’s bid for Cadbury gets too high, he’ll stop answering his phone – sort of like he did for Lehman. Richard Beales explains.

Deutsche Telekom/Sprint 09/14/2009

Mon, 14 Sep 2009 07:40:12 -0700

Deutsche Telekom should think twice before tying up with US wireless carrier Sprint. History suggests it could be a disaster - Rob Cyran explains.

Elizabeth Warren 09/09/2009

Wed, 09 Sep 2009 08:10:17 -0700

The Harvard law professor charged by Congress with overseeing US bailouts is not shy about her opinions. What she says may not be news, but taxpayers - and politicians - need to hear it. Aliza Rosenbaum explains.

Lehman/Dick Fuld 09/08/2009

Tue, 08 Sep 2009 12:49:30 -0700

How will history treat Dick Fuld? The former Lehman boss certainly isn’t expecting a rehabilitation of his reputation any time soon. Antony Currie explains.

Eliot Spitzer 09/01/09

Tue, 01 Sep 2009 11:41:06 -0700

Former Governor Elliot Spitzer is said to be mounting a return to politics. Such swift forgiveness for Client Number 9 may signal past misdeeds can indeed be forgotten. That might be a good thing for Spitzer - and the bankers who love him.

Google IPO lessons 08/17/2009

Mon, 17 Aug 2009 09:34:03 -0700

Google wanted to change the way Wall Street runs initial public offerings by selling shares via auction. Rob Cyran explains why little has changed five years on.

Starwood Property IPO 08/12/2009

Wed, 12 Aug 2009 08:27:07 -0700

Americans who ask “where’s my bailout” may now have an answer as publicly traded vehicles investing with help from government programmes come to market. Aliza Rosenbaum explains.

Buffett/Berkshire 08/10/2009

Mon, 10 Aug 2009 08:55:05 -0700

Berkshire Hathaway’s gains and losses on its derivatives book are mostly meaningless. Yet they’ve driven huge swings in the price of insuring the company’s debt. Rob Cyran explains.

BofA bonus fine 08/06/2009

Thu, 06 Aug 2009 07:54:37 -0700

US Judge Jed Rakoff is questioning why BofA is paying a $33m fine to the SEC without admitting responsibility. He's right to ask. Antony Currie reports.

Fixing Finance debate

Thu, 06 Aug 2009 21:00:00 -0700

Impression of our inaugural breakfast debate.

Fixing finance debate

Wed, 05 Aug 2009 21:00:00 -0700

The long version video of the Fixing Finance breakfast debate.

AIG's shyness 08/05/2009

Wed, 05 Aug 2009 09:39:15 -0700

AIG is ducking the usual conference call that goes with quarterly earnings. That’s a cop-out, says Richard Beales.

Watchdog Turf Wars 08/04/2009

Tue, 04 Aug 2009 08:00:57 -0700

Top US regulators are resisting Treasury Secretary Tim Geithner's calls for change. They may be trying to protect their turf, but some of their arguments make sense. Dwight Cass explains.

Wet weather woes 08/03/2009

Mon, 03 Aug 2009 08:15:33 -0700

Is this year's soggy summer going to put a dampener on earnings? The weather has often been the scapegoat for poor performance, but this year, companies have a wealth of other excuses too. Aliza Rosenbaum explains.

Luxury goods 07/29/2009

Wed, 29 Jul 2009 04:07:16 -0700

Executives at Louis Vuitton have called the bootom of the luxury goods slump. But that doesn't mean it's a return to champagne and caviar for the rest of the fashion industry, Rachel Sanderson explains.

Music sales 07/27/2009

Mon, 27 Jul 2009 07:39:38 -0700

Will free extras revive album sales? The plan from Apple and record companies might work - partly because people like to show off their music collections. Rob Cyran explains.

Bank earnings lessons 07/23/2009

Thu, 23 Jul 2009 07:53:43 -0700

What are bank earnings telling us? Investment banks may be doing well, but that doesn't mean a full economic recovery is just around the corner. Antony Currie explains.

CIT 07/16/2009

Thu, 16 Jul 2009 07:09:17 -0700

CIT looks headed for bankruptcy now that the US government has made abundantly clear only the largest and most reckless lenders get bailed out. Rob Cox explains.

Calpers vs raters 07/15/2009

Thu, 16 Jul 2009 07:10:55 -0700

Ratings firms are being sued for losses on SIVs they rated triple-A. Dwight Cass asks, if they’re found negligent by the courts, how much should they have to pay?

Goldman Sachs 07/14/2009

Tue, 14 Jul 2009 11:22:15 -0700

Goldman Sachs turned in a second quarter worthy of a boom year. Richard Beales suggests it avoid getting greedy when buying out the government's remaining warrants.

Boutique banks 07/13/2009

Mon, 13 Jul 2009 08:15:40 -0700

So far this year, boutique investment banks have managed to grab a 14% share of global M&A fees. But that may not last once good times return. Aliza Rosenbaum explains.

Bank earnings preview 07/10/2009

Fri, 10 Jul 2009 08:13:13 -0700

Bank earnings season is about to kick off in the US, with Goldman Sachs reporting on Tuesday . Antony Currie outlines what to expect .

New York property prices 07/09/2009

Thu, 09 Jul 2009 07:54:56 -0700

Any optimism about Manhattan’s housing market won’t last long. Rob Cyran explains why property prices are likely to fall even further.

Treasury bubble return? 07/08/2009

Wed, 08 Jul 2009 12:20:50 -0700

The revival of risk aversion has re-inflated the US Treasury bond bubble. But it soon may start to leak again, Dwight Cass says.

Michael Jackson 07/07/2009

Tue, 07 Jul 2009 07:57:24 -0700

Sad as it may sound, Michael Jackson may be worth more dead than he was alive. The sooner his image is cleaned up, the faster Michael Jackson Inc can take off. Rob Cox explains.

Standard Chartered 07/02/2009

Thu, 02 Jul 2009 08:00:55 -0700

Standard Chartered just hired a retailer to do a banker's job. John Peace is a good choice to chair the Asia-focused bank - but StanChart remains a special case, John Foley argues.

Iceland 06/30/2009

Tue, 30 Jun 2009 07:02:44 -0700

Iceland was the poster child of the credit boom. After years of conspicuous consumption the country now feels like a debtor's prsion. At least its people know how to party. Rob Cox reports froms Reykjavik.

Madoff 06/29/2009

Mon, 29 Jun 2009 07:44:50 -0700

No nubmer of years behind bars will do Bernard Madoff justice. But his victims don't deserve too much sympathy either. Edward Hadas explains.

Subway sponsors 06/24/2009

Wed, 24 Jun 2009 12:29:22 -0700

Barclays will pay $200,000 a year to tack its name onto two subway stations in Brooklyn. Breakingviews has some suggestions for other subway sponsors.

Derivatives regulation 06/23/2009

Tue, 23 Jun 2009 08:19:36 -0700

Splitting US oversight of the $592 trillion unlisted derivatives market between two watchdogs could cause trouble, Dwight Cass argues.

Citi departures 06/22/2009

Mon, 22 Jun 2009 08:00:40 -0700

Asia-Pacific boss Ajay Banga's departure is a blow for Citigroup. But it might not be as bad as some think. Antony Currie explains.

New Fed powers 06/18/2009

Thu, 18 Jun 2009 07:30:32 -0700

If the US Congress approves, the Federal Reserve will get “macroprudential” powers. That’s controversial, but just facing up to reality. Edward Hadas explains.

ITV 06/17/2009

Tue, 16 Jun 2009 21:00:00 -0700

Does Tony Ball's appointment to the board of BT put him out of the running for the top job at ailing broadcaster ITV? Una Galani investigates.

Tesco 06/16/2009

Mon, 15 Jun 2009 21:00:00 -0700

Tesco, the UK's largest retailer, appears to have staged a comeback in the first quarter. Rachel Sanderson explains

Ikea 06/12/2009

Fri, 12 Jun 2009 01:45:51 -0700

Ikea's decision to shelve its plan to enter India shouldn't come as a surprise. Emerging economies are becoming less of a priority other big box retailers too, Rachel Sanderson explains.

Treasury auction 06/11/2009

Thu, 11 Jun 2009 07:54:03 -0700

It should be another interesting day in the US Treasury bond market, as the government plans to auction $11bn worth of 30-year bonds to a market that, by all appearances, isn't excited to buy them. Lauren Silva Laughlin explains.

Boston Globe 06/10/2009

Wed, 10 Jun 2009 07:43:41 -0700

The New York Times is reportedly seeking bids for the Boston Globe. It snubbed vanity buyers for offering low-ball bids three years ago. Now it’s likely to get far less. Rob Cyran explains.

Obama/regulation 06/09/2009

Tue, 09 Jun 2009 07:40:44 -0700

President Barack Obama’s battle to reform financial regulation will show just how much muscle Wall Street has left. Dwight Cass explains.

Airline headwinds 06/08/2009

Mon, 08 Jun 2009 07:31:43 -0700

Airlines may have avoided bankruptcy despite oil prices spiking last July. But they still face turbulence ahead as the global recession lingers and structural problems persists. Aliza Rosenbaum explains.

CIC / Morgan Stanley 06/03/09

Tue, 02 Jun 2009 21:00:00 -0700

Una Galani reflects on the dynamics of China Investment Corporation.

BskyB - Virgin Media

Thu, 28 May 2009 21:00:00 -0700

BskyB biding for Virgin Media content

McDonald's 05/27/2009

Wed, 27 May 2009 03:01:24 -0700

McDonald's is heating up a coffee war in Europe with a plan to open hunders of McCafe coffee bars. Rachel Sanderson considers the potential for McDonald's and the threat to Starbucks.

Google and newspapers 05/21/2009

Thu, 21 May 2009 08:01:16 -0700

Google will tackle anything from space flight to renewable energy. But even the Silicon Valley geniuses think the newspaper business is too difficult. Rob Cyran explains.

BofA's capital raising 05/20/2009

Wed, 20 May 2009 08:09:53 -0700

Bank of America has raised about half the amount it needs to plug the capital hole identified by the US stress tests. That's good news. But raising the rest could prove harder. Antony Currie explains.

ING 2

Tue, 09 Jun 2009 08:10:39 -0700

ING