People

Sánchez’s psychodrama leaves Spain at loose end

29 Apr 2024

PM Pedro Sánchez is staying on after threatening to resign over a court probe into his wife’s dealings. He appears weakened before a series of elections, raising doubt on his ability to push for reforms and ensure the country remains the fastest-growing major European economy.

Tesla thumbs a ride on uncertain low-cost future

23 Apr 2024

Elon Musk’s automaker is accelerating a plan to make cheaper electric car models. Yet its recent performance disappointed, and rivals like GM are resurgent. Tesla wants investors to believe the future will be better than the present, and as good as the past. It’s a stretch.

Telecom tycoon ensnared by his hefty debt machine

18 Apr 2024

Patrick Drahi built the ocean-spanning Altice empire on the back of aggressive dealmaking and $60 bln of borrowing. The bill is coming due with interest rates elevated. In this Viewsroom podcast, Breakingviews columnists discuss what comes next as bondholders get restless.

Singapore’s new leader will have no honeymoon

16 Apr 2024

Prime Minister Lee Hsien Loong will hand over power next month in a well-planned move. His successor Lawrence Wong needs to shore up the ruling party’s votes ahead of elections, manage Singapore’s growing pains as a finance hub, and keep China happy. There won’t be any easy wins.

How Patrick Drahi can clamber out of his debt hole

11 Apr 2024

The tycoon’s Altice telecom empire is straining under $60 bln of borrowings, and creditors of its French unit are gunning for a fight. Yet loose bond terms, and the debt’s low trading prices, lend Drahi an escape route. He just needs to hope investors have short memories.

India can grow fast with or without Narendra Modi

10 Apr 2024

The prime minister is hot favourite to secure a third term, and to lead the country into another decade of economic expansion. Yet projections of 6%-plus annual GDP growth are below the country’s own track record. And hitting the mark does not depend on one man.

Donald Trump’s paper payout defies financial truth

22 Mar 2024

Shareholders of a blank-check vehicle agreed to buy his nascent social media firm, valuing it at about $5.6 bln. If all goes to plan, the Republican candidate could add 55% of that to his net worth. On any objective measure, though, his Truth Social platform is worth much less.

Energy firms can’t all be better than average

22 Mar 2024

The industry’s big event in Houston saw oil, gas and renewable firms believe in different realities, mixed with resentment of being overlooked and supposed government favoritism. But in a commodity industry, low cost eventually wins, and that is renewable fuel.

AOL-Time Warner architect leaves useful blueprints

14 Mar 2024

Gerald Levin, dead at 84, will forever be linked to the $340 bln M&A disaster, but the strategy behind it was prescient. So was his work championing HBO and pay-TV. Other tech and media CEOs have done value-destructive deals using far weaker rationales, and more are in the works.

UK monarchy suffers an impairment to its goodwill

13 Mar 2024

A poorly edited photo of the Princess of Wales has fanned a firestorm of speculation about her health. If Britain’s royal family were a listed company, it would have a fiduciary duty to provide more detail. While the hit to its brand equity is not visible, it’s still tangible.

White House race puts lots of fine print at stake

5 Mar 2024

Super Tuesday contests may solidify former President Trump’s shot at a 2020 rematch. November’s ballot will decide not just big-picture issues, but a host of smaller tweaks – like financial or climate rules – where a victorious Trump could roll back President Joe Biden’s legacy.

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.