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Breakingviews - Trump judicial picks are lasting gift to business

Donald Trump just got a chance to do his biggest favor yet for business. The death of Justice Ruth Bader Ginsburg on Friday hands the U.S. president his third Supreme Court pick since he took office in 2017. He has already appointed 25% of active federal judges too. The resulting anti-regulation bias could last a generation – long after other pro-capital measures like his generous tax cuts have faded into memory.

Breakingviews - Review: Oil historian of record drops his compass

If anyone should have a good handle on how to properly manage the transition to a low-carbon world, it’s Daniel Yergin. The prize-winning author knows both the traditional hydrocarbon industries and the wider energy business inside out. So it’s disappointing that his latest tome, “The New Map”, does not come with clearer signposts.

Breakingviews - Euronext gain is LSE loss in flawed Italian sale

Sandro Botticelli’s “The Birth of Venus” has a calm aura that makes it an ageless Italian masterpiece. The sale process for Borsa Italiana, dubbed “Project Botticelli”, lacks any such Renaissance elegance. By openly favouring Euronext’s bid for the Milan exchange, the Italian government has enabled the French group to secure exclusive talks despite submitting an apparent lowball offer.

Breakingviews - Moutai ladles out value from its punch bowl

The streets of China are getting paved with baijiu. Chinese liquor titan Kweichow Moutai plans to issue bonds to help buy highway operator Guizhou Expressway from the struggling local government. This ludicrous diversification erased $10 billion of market capitalisation.

Breakingviews - Green bonds could slide into irrelevance

Green bonds are booming. Everyone from JPMorgan to Germany is issuing securities earmarked for environmentally friendly projects. Yet the benefits of the $800 billion market in channelling new money to green causes are less obvious.    

Breakingviews - Viewsroom: Credit-UBS, Bernard Arnault and Japan

A merger of Credit Suisse and UBS has some merits on paper, but would be bloody in practice, says Liam Proud. Plus, the LVMH billionaire’s impeccably ruthless dealmaking is on full display with the Tiffany takeover. Pete Sweeney and Sharon Lam discuss Japan’s new man at the helm.

Breakingviews - Cox: When ’shrooms go public, markets are peaking

Connoisseurs of magic mushrooms can attest to the power of psilocybin, the psychoactive ingredient of these funky fungi. Bad or good, they say, the experience is always intense. Whether investor Peter Thiel has had first-hand experience is of little import. The Donald Trump-supporting entrepreneur who made billions from Facebook is, nonetheless, determined to make another small fortune by convincing depressed people that ’shrooms will help them.

Breakingviews - Unibail’s self-bailout highlights property dilemma

Preparing for the worst is a tricky way to shore up confidence. But that is the balancing act Unibail-Rodamco-Westfield attempted on Wednesday with a plan to raise 3.5 billion euros from investors and 4 billion euros by selling assets. The self-bailout should help the owner of shopping malls protect its credit rating. But it requires buyers and shareholders to take a more optimistic view.

Breakingviews - Toshiba’s chip IPO could short-circuit

The debut of Toshiba’s chip unit may short-circuit in volatile markets. Two years after the Japanese conglomerate's crown jewel was sold to a group led by U.S. buyout firm Bain Capital, the rebranded Kioxia will go public in Tokyo at a valuation of $20 billion.

About Breakingviews

Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time. Sign up for a free trial of our full service at http://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.

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