NEW YORK (Reuters Breakingviews) - A former employee accused the ride-hailing company of sexual harassment and gender discrimination. It’s not only bad form but yet another roadblock for money-losing Uber. Plus, where do Kraft Heinz and its owner 3G go after their failed $143 bln bid for Unilever?
WASHINGTON (Reuters Breakingviews) - Steven Mnunchin’s stock-market brag could turn out to be a double-edged sword. The new U.S. Treasury secretary says the post-election rally in the equities market reflects faith in President Donald Trump and his promises for tax reform and fiscal stimulus. Both plans need approval from Congress, and may be accompanied by higher inflation. Anti-immigrant and trade policies could also mute market gains.
LONDON (Reuters Breakingviews) - Numbers don’t lie. If only that saying were even halfway true. Official statistics are increasingly becoming a plaything of politicians. If the trend continues, the results will be bad for everyone. Unfortunately, the statisticians aren’t in a strong position to defend themselves. They haven’t always been loud and clear in proclaiming the messy truth behind their measures.
LONDON (Reuters Breakingviews) - Glencore Chief Executive Ivan Glasenberg’s next challenge will be keeping his acquisitive instincts under control. The mining and commodities giant has recovered from its near-death experience a year and half ago. Net debt has halved to $15.5 billion and buoyant prices mean the group is once again generating mountains of cash. Resisting the urge to spend it on buying more assets is the serial dealmaker’s biggest task.
HONG KONG (Reuters Breakingviews) - Stepping back from the day-to-day at Nissan Motor is a good start for Carlos Ghosn. The workaholic had been combining four chairmanships and three chief executive roles – far too much for even the most indefatigable boss. Now Ghosn will cede Nissan's CEO role to company veteran Hiroto Saikawa, who has been warming up as co-CEO since October. That is laudable. Losing a few more titles would be even better.
DALLAS (Reuters Breakingviews) - As millennials became old enough to hang out in bars some 15 years ago, the likes of Budweiser and Miller started to taste flat. Fancier drinks and craft beers cut into the brewing giants' market shares. A gusher of mergers followed, culminating in last year's $103 billion acquisition of SABMiller by Anheuser-Busch InBev. Kraft Heinz's $143 billion bid for Unilever last week, although quickly aborted, is a sign that millennials' attention, and the potential for M
LONDON (Reuters Breakingviews) - JPMorgan and Morgan Stanley have been handed the keys to the kingdom. The U.S. investment banks are poised to lead the underwriting of Aramco's $100 billion share offering. The prized mandate has the potential to propel both to the top of investment banking league tables and unlock a stream of future work as Saudi Arabia reforms its economy and sells off its large inventory of state assets. An IPO flop, however, could be fatal for the banks' local franchises.
HONG KONG (Reuters Breakingviews) - Air Products' bid for Yingde Gases deserves to fly. The U.S. giant has been stuck in a bizarre battle over the Hong Kong-listed company, which it wants to buy for up to $2.8 billion including debt. The target's board finally seems to be seeing sense. Bravo: the suitor is ready to pay a fair EBITDA multiple and a fat premium for shareholders.
DALLAS (Reuters Breakingviews) - The power behind the Burger King throne wants an extra side of nuggets. Fresh from withdrawing Kraft Heinz's $143 billion bid for Unilever over the weekend, investment firm 3G Capital's restaurant roll-up pounced on fried-chicken chain Popeyes Louisiana Kitchen. Restaurant Brands International is offering $1.8 billion for the maker of the Bonafide Chicken meal, a 27 percent premium to the undisturbed price. The deal gives the Brazilian founders of 3G a savory sna
LONDON (Reuters Breakingviews) - Mining's traumatic downturn is still fresh in the memories of BHP Billiton and Anglo American, despite their improved performance in 2016. Rising commodities prices and aggressive cost-cutting helped both companies to boost earnings and cut debt. But another investment splurge or borrowing binge is unlikely. Financial prudence remains the priority.
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