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Corona Capital: ESG investing, U.S. moves, P&G

20 Jan 2021

Concise views on the pandemic’s corporate and financial fallout: ESG opens up investing opportunities; home values in U.S. resort towns rise faster than rural areas; and Procter & Gamble cleans up.

Corona Capital: Indian banks, LBOs, Stellantis

18 Jan 2021

Concise views on the pandemic’s corporate and financial fallout: Indian banking guru Aditya Puri gives reasons to be bullish about New Delhi’s lenders at a Breakingviews predictions event; the ECB cracks down on risky loans; carmaker Stellantis gets a boost from passive funds.

UniCredit CEO race is deceptively crowded

15 Jan 2021

Senior bankers including Andrea Orcel are in the run to lead the $21 bln bank. The new boss will need to navigate Italy’s intricate political and financial landscape, have clear international standing and a collegiate approach. That rules quite a few of the contenders out.

2020 hindsight: Our best-read stories of the year

31 Dec 2020

The virus and U.S. politics were the focus for readers on Reuters.com. But Refinitiv terminal and Breakingviews’ website subscribers displayed more eclectic tastes. Their top picks included stories on India’s richest man, triathlons, Swedish oat milk, and big data.

Rusal’s Deripaska discount makes partial return

21 Dec 2020

The aluminium group’s Hong Kong shares fell after a Bloomberg article claimed former controlling shareholder Oleg Deripaska still exerts influence. Rusal and holding company En+ deny that he does. So far, investors are not taking fright like they did in April 2018.

Corona Capital: Private jet deal

17 Dec 2020

Concise views on the pandemic’s corporate and financial fallout: Blackstone bets that plutocrats will be back in the air before the rest of us.

Activist state looms over Rothschild’s latest hire

9 Dec 2020

The investment bank, whose alumni include French President Emmanuel Macron, has deep links with governments. Hiring Mark Sedwill, Britain’s former top civil servant, continues the tradition. As politicians exert more influence over business, his perspective will prove valuable.

Corona Capital: Chevron, Boeing, OPEC, Orange

3 Dec 2020

Concise views on the pandemic’s corporate and financial fallout: Chevron cuts spending, prudently; Boeing orders are a solid step; OPEC makes up its mind; and Orange’s Belgian deal has some juice.

The Donald Trump show will continue broadcasting

9 Nov 2020

The president may have lost the White House. But an army of Twitter followers and right-wing media will ensure him a platform. That will serve his many interests, from boosting his businesses and staving off looming debt payments to acting as a thorn in the side of his successor.

Arnault’s Tiffany tantrum was not worth the fuss

29 Oct 2020

The luxury tycoon trashed the U.S. jeweller’s management, went to legal war in Delaware and enlisted Paris to wriggle off the hook. In a U-turn, LVMH will now swallow its target for a discount of perhaps below $290 mln. That’s far less than the long-term hit to LVMH’s reputation.

Daniel Kretinsky’s grocer grab has sliver of sense

1 Oct 2020

The Czech billionaire has bought $1.5 bln worth of shares in European supermarkets like J Sainsbury and Casino. Anaemic growth and low margins suggest that’s unwise. But if his targets can slash costs and take advantage of an online boom, his bet may begin to look shrewd.

The Exchange: UBS CEO exit interview

29 Sep 2020

After 10 years leading Switzerland’s biggest bank, Sergio Ermotti is handing off to Ralph Hamers and becoming chairman of Swiss Re. In a wide-ranging conversation with Rob Cox, he shares his views on banking, M&A, his tenure as CEO and the advice he offered his successor.

Cox: Bernard Arnault is acting like a spoiled brat

15 Sep 2020

Europe’s richest man had to have Tiffany when times were good and agreed to pay too much for the American jeweller. When Covid-19 hit the fan, LVMH’s boss got buyer’s remorse. Now he's throwing all the toys out of his cashmere-lined crib to get his way. Which he probably will.

The Exchange: Telecoms mogul David McCourt

25 Aug 2020

The pandemic has made connecting rural areas a global priority. The Irish-American cable entrepreneur explains to Aimee Donnellan why he returned to Dublin to roll out a 3 billion euro broadband programme, and how the Covid-19 crisis created an opportunity to transform business.

Fawning over Kardashians accentuates Coty’s flaws

29 Jun 2020

The cosmetics group will buy 20% of Kim Kardashian West’s make-up line for $200 mln, the FT said. New boss Peter Harf is taking a smaller stake than Coty acquired last year in half-sister Kylie Jenner’s unit. But $8 bln in debt and collapsed sales look like more urgent concerns.

Ray-Ban mogul’s late financial quest is baffling

19 Jun 2020

Leonardo Del Vecchio is building his shareholding in Mediobanca. The investment bank’s stake in insurer Generali puts it at the heart of Italian corporate power. The 85-year-old may be motivated by financial gains or prestige. Equally unclear is who inherits his expanded empire.

Volkswagen boss loses control at critical juncture

10 Jun 2020

The German carmaker’s board axed Herbert Diess as CEO of its flagship brand after his loose tongue got him in trouble again. He keeps the top job after apologising. But the spat distracts VW recovering from the pandemic and taking on Tesla. Diess can’t afford any more accidents.

Make-up artist’s star power tested by $1 bln tag

4 Jun 2020

That’s how much Puig is close to paying for Charlotte Tilbury’s cosmetics company, Bloomberg reports. Famous friends and e-commerce helped the entrepreneur boost sales. To justify the price, the Spanish perfumer needs to lift margins after Covid-19, without smudging the brand.

French plutocratic raiders rally around their kind

26 May 2020

LVMH’s Bernard Arnault helped the activist-besieged owner of Paris Match by snagging 25% of the Lagardere family’s holding company. And Vivendi’s Vincent Bolloré raised his stake in the media group to 16%. Mogul overcrowding risks blunting Amber’s bid for better governance.

Spotify’s $2.5 bln Joe Rogan bump has sound logic

20 May 2020

The Swedish music-streaming service’s shares surged after it signed an exclusive deal with the controversial podcast host. Rogan’s audience, probably about 10 mln strong, makes a mooted $100 mln licence fee seem reasonable, and even helps justify the huge rise in Spotify’s value.