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Bankers may not welcome UK rainmaker’s legal win

14 Mar 2025

Ian Hannam will get over $2 mln from a former client he sued for being ‘pushed out’ of an $18 bln mining merger. For M&A bankers, the dealmaker’s case makes it likelier CEOs pay for advice. But legal blowback risk will also make companies warier of who they consult on big deals.

Interests partly align behind Hong Kong bourse CEO

26 Feb 2025

One year into Bonnie Chan’s tenure at HKEX a push to streamline listings and tweaks to fees look well-timed as a $450 bln rally whets appetite for China stocks. The exchange remains tied to Chinese tech’s mast but Beijing’s pro-business messaging provides ample tailwinds for now.

White House plays with Social Security fire

19 Feb 2025

Cost-cutter-in-chief Elon Musk claimed to uncover massive fraud, citing 20 mln people over 100 years old in government files. Such histrionics and other clumsy administration meddling make it all too easy to fear that legit payments to seniors are a disaster waiting to happen.

BP’s overhaul can start with a new Chair

14 Feb 2025

Activist Elliott Investment Management now has 5% of the $93 bln UK group and wants to sell off its green assets. That might make sense. But investors are more likely to back structural reform if it's overseen by a chair other than current incumbent Helge Lund.

Andrea Orcel’s M&A hunt homes in on Italy

11 Feb 2025

The UniCredit boss pledged bold returns, even as lower rates squeeze banks’ lending margins. Solid performance, and a whirl of rival deals, make his bid for $14 bln Banco BPM increasingly realistic. That’s just as well, since his pursuit of Commerzbank looks ever more distant.

Why Elon Musk is a headache for broadband bosses

11 Feb 2025

The SpaceX founder’s Starlink business has about 5 mln users of its satellite internet service. It’s a big risk for telecom firms in developing countries with few fixed-line connections, like India. But Western incumbents, particularly in the US, should also be concerned.

Telefónica ouster flags need for a Spain discount

20 Jan 2025

Madrid has used its stake in the $22 bln telco to abruptly replace boss José María Álvarez-Pallete. Spain’s fast growth means it borrows more cheaply than France. But if the government keeps throwing its weight around, domestic companies may warrant a governance markdown.

Trump and Musk’s ally-bullying weakens the West

13 Jan 2025

The US president-elect’s talk of military force against Greenland and Panama weakens the case against Russia’s invasion of Ukraine. The Tesla boss’s support for far-right politicians threatens European unity. Even if the threats prove empty, Beijing and Moscow will be happy.

Warnings and worries haunt best-read views of 2024

31 Dec 2024

This year our readers fretted about imploding stocks, regulatory shocks and Washington’s new status quo, even as the S&P 500 Index hit record highs. Incoming President Donald Trump, Tesla boss Elon Musk, Russia’s Vladimir Putin, and Britain’s royal family all added to the drama.

India’s reformist ex-PM warrants some imitation

27 Dec 2024

Manmohan Singh, who unshackled the country’s economy and lifted many out of poverty, has died aged 92. Current leader Narendra Modi would benefit from channelling his zeal for change amid slowing growth. Singh’s legacy, marred by corruption, is a reminder of the challenges ahead.

India starts resembling China in unflattering ways

19 Dec 2024

Growth is slowing and allegations of interference in the West’s affairs are rising. Part of the narrative weighing on the world’s second-largest economy is applicable to its fifth largest. Even if similarities are exaggerated, the connection poses a threat to India’s moment.

Donald Trump will meet his match in bond markets

18 Dec 2024

The president-elect’s bullying and bluster may steamroll any political resistance to tax cuts and tariff hikes. Like many world leaders before him, though, he’s about to feel the punch that debt buyers pack. They’ll beat back an inflationary agenda that imperils US finances.

Oil will aid rather than hinder Trump-MbS bromance

16 Dec 2024

Both the US president-elect and the Saudi crown prince want to pump more crude in 2025. Yet US drillers aren’t certain to do so. And Mohammed bin Salman may be able to extract a quid pro quo in return for deploying spare oil capacity should Donald Trump crack down on Iran.

India needs more, not fewer, powerful tycoons

12 Dec 2024

US charges against Gautam Adani expose the country’s reliance on too few industrialists to meet its strategic goals. Rather than prompting a breakup of conglomerates, the saga may nudge the government to share the spoils of the $4 trln economy with a bigger group of chosen ones.

India compounds new central bank boss’s challenges

10 Dec 2024

Sanjay Malhotra will have enough on his plate as RBI governor dealing with a slowing domestic economy amid rising global tensions. But the messy way in which New Delhi handled the transition from six-year incumbent Shaktikanta Das means Malhotra starts on the back foot.

South Korea curveball adds new 2025 risks

4 Dec 2024

Fallout from Great Power tensions tends to dominate the minds of political and financial leaders. So the abortive coup in the $2 trln economy may seem just a domestic issue. But ructions within the major US ally and chipmaking hub may yet reverberate in Asia and beyond.

New Stellantis CEO’s first job is a US reset

2 Dec 2024

Carlos Tavares’ abrupt exit comes after the $34 bln carmaker hiked prices and lost market share. The ideal new CEO – able to steer a course around Trump, EU emissions rules and new tech – may not exist. Stellantis could settle for a US expert who can get car dealers back on side.

New World paves Hong Kong developers’ way to China

2 Dec 2024

The $2 bln property firm’s second CEO in as many months is an expert in mainland real estate, suggesting an urgent need to deepen ties there. New World’s $20 bln debt pile may be hastening the move, but broader pressures will push healthier peers like CK Hutchison to follow suit.

Gautam Adani is promise and peril of Indian growth

28 Nov 2024

With $31 bln of debt, deep links to the banking system and a star role in India’s energy transition, the tycoon’s empire is a crucial part of the fifth-largest economy. In this week’s Viewsroom, Breakingviews columnists discuss how US bribery charges will test those dependencies.

Tycoons’ odd telco bets mask a greater logic

26 Nov 2024

In recent years high-profile, rich investors like Carlos Slim have snapped up stakes in the likes of $19 bln BT. These haven’t always yielded juicy returns, nor prompted strategic shifts. But as a bet on much-needed consolidation, they may yet end up looking smart.