People

Musk vs. Altman is a battle everyone loses

5 Mar 2024

The Tesla boss's complaint that OpenAI ignored obligations to the human race distracts from a bigger problem. Existential issues are best overseen by democratic governments, because to leave them to techno-libertarians and private contracts is absurd. AI is no different.

Ambani wedding puts new spin on Indian business

4 Mar 2024

CEOs of BP, Brookfield and Meta were among those attending Anant Ambani’s pre-nuptials bash in Jamnagar, Gujarat. Rich families are answering premier Narendra Modi’s call to shun overseas extravaganzas. For India, the prize goes well beyond the $50 bln marriage industry.

Post-crisis Adani is cranking up his IPO factory

29 Feb 2024

Indian tycoon Gautam Adani is on a comeback from a short-seller attack that stress-tested his $200 bln empire. In this Viewsroom podcast, Breakingviews columnists explain how the spotlight impacted his group and look at the next crop of listed companies it is set to produce.

Top JPMorgan banker spots value in Citi rotation

26 Feb 2024

Viswas Raghavan is leaving a senior post at the world’s largest investment bank to lead a broader but smaller business for its rival. If he partly narrows the gap between the two, investors should gain. The 57-year-old might even have a shot at succeeding Citi CEO Jane Fraser.

Wall Street lives libertarian-lite dream in Miami

23 Feb 2024

Financial luminaries have flocked to the city for a Saudi-backed answer to Davos, a sign that Florida’s rise as a financial hub is durable. The Sunshine State gives the wealthy a glimpse of low taxes, entrepreneurialism and small government. It’s freedom, but only for some.

Universal Music’s John Legend deal is harmonious

21 Feb 2024

The music giant is purchasing a more than 25% stake in Chord for $240 mln, gaining some control over the music with a sliver of its own money at risk. Importantly, Universal is buying Chord from KKR. Swapping tunes between sophisticated buyers legitimizes the business.

Navalny’s death will make Putin weaker

16 Feb 2024

Russian opposition leader Alexei Navalny has died in jail. In the country, he will become a symbol of what President Putin fears most in democracy and political freedom. In the rest of the world, his passing will undermine the voices arguing for a softer policy toward Moscow.

Indonesia votes for status quo, ups the ante

15 Feb 2024

Prabowo Subianto is the next president, polls show. He won after pledging to continue the policies of outgoing Joko Widodo. But the $1.4 trln economy, Southeast Asia's biggest, faces a slowing China and crashing nickel prices. He needs to pick a credible finance minister fast.

Taylor Swift offers masterclass in animal spirits

9 Feb 2024

The pop megastar finds herself in the middle of multiple fierce contests, from the Super Bowl to streaming to the US presidential election. Competition works wonders for asset prices, and Swift is no exception. The question is whether she can reliably pick a winner.

Taiwan navigates new waters with old map

15 Jan 2024

Lai Ching-te has won his independence-leaning party an unprecedented third term. That tees up a deterioration in the island’s relationship with China and will refocus global minds on the costs of a possible confrontation. It puts pressure on Lai to find new ways to minimise risks.

Elon Musk can make Tesla a national champion

5 Jan 2024

The billionaire’s $745 bln car company faces rising rival BYD, growing backlash in Europe, and a deal landscape that’s impossible. Attempts to diversify rest on far-out ideas like dabbling in AI and robots. It has a better path: becoming a cornerstone of US infrastructure.

Harvard ouster is a win for activists, not activism

5 Jan 2024

Corporate cage rattler Bill Ackman won his bid to oust President Claudine Gay from the elite US university. The process was different from activism at companies, where boards rather than CEOs are the natural target. Corporate change is laborious; investors should be glad of it.

Aussie tycoon will blaze new green activist trail

2 Jan 2024

Atlassian co-CEO Mike Cannon-Brookes has already used some of his billions to tackle climate change, like battling the country’s top carbon emitter. Quitting the software firm would make him more effective. Other wealthy moguls may then join him in the activist trenches.

Breakingviews readers’ year of living dangerously

29 Dec 2023

Our best-read stories of 2023 reflect an audience trying to navigate a complex world of conflict, unpredictable interest rates and novel inventions. Familiar obsessions, including dramatic deals and the risks of a rocky energy transition, held your attention too.

Kim Kardashian will be kicked off Instagram

22 Dec 2023

The influencer is worth $1.7 bln, which could climb with her shapewear brand’s IPO. That’s value that doesn’t flow to the owners of platforms sustaining content creators’ fame, like Elon Musk or Mark Zuckerberg. The best way for them to pull some back: suspend her privileges.

The Li clan will deal their way out of value trap

20 Dec 2023

The Hong Kong-based empire founded by Li Ka-shing is unloved by investors. Despite his son Victor’s efforts to boost value, the $20 bln CK Hutchison trades at a big discount to its net assets. With 80% of revenue outside Greater China, it makes sense to explore a sale or breakup.

Saudi’s best foreign investment will be in Gaza

19 Dec 2023

The kingdom is known for flashy punts on Western sports and blue chips. But its real need is foreign cash to help diversify away from oil. If Crown Prince Mohammed bin Salman were to use Saudi money to help Palestinians rebuild post-war, US goodwill may prompt an FDI spike.

StanChart M&A theory will finally become reality

19 Dec 2023

For years, the bank run by Bill Winters was cheap but dysfunctional. Now, it’s producing significantly higher returns on tangible equity but the valuation remains low. If that persists in 2024, it will be hard for suitors like First Abu Dhabi Bank to resist launching a bid.

Polls may imperil emerging Asia’s policy stability

18 Dec 2023

India and Indonesia have had a decade of relative predictability under leaders Narendra Modi and Joko Widodo. Elections in 2024 could upend that and undermine the lofty valuations of local stock markets. Global investors, and 1.7 bln people, should temper expectations.

Baseball star’s payday channels Goldman’s Gus Levy

12 Dec 2023

Shohei Ohtani is deferring 97% of his $700 mln deal with the Dodgers and will cash checks until 2043. The structure gives the team co-owned by Guggenheim’s CEO financial wiggle room. This aspect of Moneyball embraces a long-term greedy ethos that’s extreme even for Wall Street.