Jeff Mason is a White House Correspondent for Reuters and the 2016-2017 president of the White House Correspondents’ Association. He was the lead Reuters correspondent for President Barack Obama's 2012 campaign and interviewed the president at the White House in 2015. Jeff has been based in Washington since 2008, when he covered the historic race between Obama, Hillary Clinton and John McCain. Jeff started his career in Frankfurt, Germany, where he covered the airline industry before moving to Brussels, Belgium, where he covered the European Union. He is a Colorado native, proud graduate of Northwestern University and former Fulbright scholar.
Twitter handle: @jeffmason1
LONDON (Reuters Breakingviews) - Airbus’ Brexit certainty drive is wishful thinking. The nature of the Franco-German planemaker’s business means that earmarked transition periods after a UK exit could be too short. But its call for clarity on future arrangements will fall on deaf ears.
LONDON (Reuters Breakingviews) - An expanded Heathrow’s value to the rest of the UK is hazy. Europe’s busiest airport looks set to build a 14 billion pound runway after getting the thumbs-ups from cabinet ministers on Tuesday. Plans to defuse some of the scheme’s more controversial points look harder to fulfil.
LONDON (Reuters Breakingviews) - Zoopla has enticed a new twist on a classic UK property punt. Silver Lake on Friday offered $3 billion for ZPG , owner of the property search firm. The U.S. buyout group’s bet mirrors that of the property speculators that use its target’s website. Leverage makes it look a better deal, but increases the risk if the market tanks.
LONDON (Reuters Breakingviews) - IAG has picked a good time to chase Norwegian’s jet stream. The owner of British Airways may bid for budget carrier Norwegian Air Shuttle. The target’s plan to disrupt transatlantic travel is taking off, but its finances are stretched, and rival bidders could struggle to get off the ground.
LONDON (Reuters Breakingviews) - Apollo’s Greyhound bet looks past UK politics. Transatlantic bus and rail company FirstGroup has rejected an approach from the U.S. buyout giant. The offer is bold given the backlash against Britain’s private rail operators. But the company’s American operations, which include the iconic long-distance buses, may hide some value.
LONDON (Reuters Breakingviews) - SoftBank’s silly Swiss Re bet may be getting smaller. The Japanese tech and telecom group is unlikely to buy more than a 10 percent stake, the Swiss reinsurer announced on Wednesday. That’s substantially less than previously suggested. Given the dubious benefits of any tie-up, though, it’s still a questionable use of SoftBank’s cash.
LONDON (Reuters Breakingviews) - Credit Suisse’s reputation is taking a knock from a shock surge in global stock market volatility. The value of an exchange-traded fund set up by the Swiss bank to benefit from calm markets has collapsed due to recent turbulence. While the financial damage to Credit Suisse is minimal, it’s an unwelcome reminder of past mistakes. The reputational fallout could be more severe.
LONDON (Reuters Breakingviews) - UK Prime Minister Theresa May vowed to punish groups that fail to protect retirement benefits, like collapsed outsourcer Carillion. New tools could include fining companies or curbing payouts. But the regulator can do more with the powers it already has to make companies fill gaps.
LONDON (Reuters Breakingviews) - The UK government is worried Interserve will follow Carillion into oblivion. A similar threat in the banking sector would surely prompt the state to deploy familiar tools to contain contagion. But the government’s dual role as client and bailout-wary market promoter complicates matters in the construction and support-services sectors.
LONDON (Reuters Breakingviews) - Carillion’s pension hole is a wake-up call for UK companies and their banks. The construction firm, which went into liquidation on Monday, last year estimated the shortfall in its retirement fund at 587 million pounds. That liability has now been transferred to Britain’s Pension Protection Fund (PPF), which reckons the deficit is nearer 900 million pounds. That’s bad news for Carillion’s creditors – and an omen for companies with similar obligations.
- Gold: PRECIOUS-Gold prices rise on bargain hunting, dollar pullback
- Oil Report: REFILE-GLOBAL MARKETS-Asian stocks weaken as Turkey worries weigh, dollar stands tall
- British Pound Report: UPDATE 3-Sterling slides on stronger dollar, below-forecast UK wage growth
- US Dollar Report: FOREX-Dollar rises to 13-month peak on anxiety over Turkey