Edition:
United Kingdom

Breakingviews

Breakingviews - Britain is not ready for Boris Johnson’s Brexit

Boris Johnson’s government has spent two months telling British citizens to “Get ready for Brexit”. The campaign appears to have had little impact on members of parliament. Lawmakers on Tuesday evening decided that, while they were willing to debate the prime minister’s deal to leave the European Union, they did not accept his rushed timetable. What happens next depends on the EU, on parliament, and on Johnson himself.

Breakingviews - Hyundai is a dark horse in driverless car race

Hyundai is zooming onto the self-driving scene. Following the leads of General Motors, Uber, Apple and the like, the South Korean carmaker just unveiled bold plans to invest in autonomous vehicles and other related systems. Despite the late start, well-chosen partners and support from Seoul give it a fighting chance.

Breakingviews - WeWork mess should end the cult of the founder

Adam Neumann’s reign at WeWork is over – with a reward for failure. The office-sharing firm’s board has chosen a nearly $10 billion rescue package from existing backer SoftBank, valuing the business 83% below its $47 billion peak, the Wall Street Journal reported on Tuesday. Whether that’s enough for WeWork parent The We Company to build a profitable foundation won’t be apparent for some time. Investors can, however, ensure Neumann is the last founder able to r

Breakingviews - The Exchange: CalPERS’ Ben Meng

Almost a year into the job, the investment chief of California’s near-$400 bln public pension fund tells Tom Buerkle that size can be a double-edged sword. He explains why returns targets are a challenge and what CalPERS is doing to ensure its new private-equity push succeeds.

Breakingviews - Naspers spinoff wades into UK food delivery fight

Britain’s food delivery fight keeps attracting new diners. Even as investors lose their appetite for cash-burning startups, newly-listed Prosus has waded into the bidding for Just Eat, slapping down a 4.9 billion pound order for the UK group. That doesn’t necessarily mean it’s a healthy meal.

Breakingviews - China rival offers WeWork half an office blueprint

A Chinese rival offers WeWork a turnaround blueprint. Like Adam Neumann's office-sharing outfit, over-expansion at the smaller Beijing-based Kr Space led to a cash crunch. The company has started selling office services to corporate clients across the People’s Republic. A similar pivot will not salvage WeWork's plunging valuation, but it could stem losses.

Breakingviews - Chile protests give investors a rude awakening

Chile is supposed to be the golden child of Latin America, enjoying both political stability and a relatively sound economy, unlike most of its neighbors. So when deadly protests erupted this past weekend, it caught many by surprise – including investors in Chilean debt.

Breakingviews - U.S. tech implosion is opportunity for European VC

Europe’s venture capitalists sometimes joke that they’re glorified civil servants, since government agencies are still the largest contributors to many funds. Returns have historically been humdrum compared with U.S. peers, who also raised about five times more capital than Europe’s $10 billion haul in 2018.

Breakingviews - Warehouse IPO reroutes Asian investment bank fees

There’s a new manager for the logistics of a warehouse operator’s stock sale. ESR Cayman has revived its initial public offering plans in Hong Kong after aborting them in June. This time around Morgan Stanley will lead the effort instead of Deutsche Bank and CLSA. It’s a sign of things to come in an industry undergoing fresh upheaval.

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.

Breakingviews Video