Edition:
United Kingdom

Ed Cropley

Breakingviews - Aviation is acid test for UK climate credibility

07 May 2019

LONDON (Reuters Breakingviews) - Britons should enjoy cheap stag weekends in Latvia while they can. The UK government has been encouraged by its own advisory body to cut net greenhouse-gas emissions to zero by 2050 – among the most ambitious national targets to date. Given a pre-existing goal for an 80 percent cut by the same date is looking shaky, the implication is either that the targets are hot air, or the government is about to get tough in areas like aviation.

Breakingviews - Airbus struggles to profit from Boeing misery

30 Apr 2019

LONDON (Reuters Breakingviews) - Airbus looks reluctant to kick Boeing when it’s down. Beyond the indignity of exploiting crashes of its rival’s 737 MAX planes in which 346 people died, the 95 billion euro European planemaker will be wary of triggering a price war. And investing in costly new production without firm orders from airlines would squeeze already tight cash flow.

Breakingviews - Thomas Cook survival relies on risky breakup

23 Apr 2019

LONDON (Reuters Breakingviews) - Thomas Cook’s best case may be a risky breakup. The struggling tour operator’s shares jumped around 16 percent on reports of a bid by Chinese group Fosun International or private equity firms KKR and EQT Partners. Either could involve selling off its airline, a tricky move that may leave an even weaker core business.

Breakingviews - German banking tie-up brings out balloon-floaters

17 Apr 2019

LONDON (Reuters Breakingviews) - Deutsche Bank’s tie-up talks with Commerzbank are providing a field day for Europe’s financial balloon-floaters. The latest is the idea that Dutch lender ING Groep has expressed interest in chaining itself to Commerzbank, reported in Germany’s Manager Magazin. The possibility won’t impress ING shareholders but it gives Commerzbank an extra dash of lipstick and, along the way, sends a message to Dutch regulators about rigid local bank rules.

Breakingviews - Legal woes poison Bayer’s prospects

20 Mar 2019

LONDON (Reuters Breakingviews) - Roundup’s noxious effect is leaching deeper into Bayer. Shares in the German chemicals group slumped again on Wednesday after a second U.S. court said its widely used weed killer causes cancer. Bayer has shed $34 billion of market capitalisation since the first adverse ruling last August, effectively exterminating any value in its CropScience unit, which includes Roundup. With thousands of claims in the wings, even that may be too generous.

Breakingviews - Airbus can only nibble at Boeing’s 737 lunch

18 Mar 2019

LONDON (Reuters Breakingviews) - Boeing’s losses are not Airbus’ gains. The $215 billion U.S. aerospace giant may have suspended deliveries of its ill-fated 737 MAX 8 jet after two crashes in five months, and that theoretically should benefit its European peer. Unfortunately for 91 billion euro Airbus, chock-full production lines and order books stretching for years mean it can’t take up much slack.

コラム:米ボーイング機墜落事故、株急落が映す「中国の脅威」

13 Mar 2019

[ニューヨーク/ロンドン 11日 ロイター BREAKINGVIEWS] - この半年間でボーイングの新型機737MAX8で2度目となる墜落事故が起きたことを受け、同社株は11日に急落した。投資家の反応は、事故による短期的な財務面の影響を恐らく過大視しているが、もっと大きな長期的脅威を反映しているのかもしれない。

Breakingviews - May offers tiny plaster for gaping Brexit wound

04 Mar 2019

LONDON (Reuters Breakingviews) - Theresa May’s so-called Brexit bribe is unlikely to sway hearts and minds. The UK prime minister promised to invest 1.6 billion pounds in impoverished English towns. Critics see it as a bung to get opposition lawmakers to back her EU exit deal. But the paltry investment might only draw attention to the damage that May’s Brexit has already done the UK.

Breakingviews - Nigeria challenger is lesser of two outmoded evils

15 Feb 2019

LONDON (Reuters Breakingviews) - Whatever the outcome of Nigeria’s tight Feb. 16 election, the next leader of Africa’s most important country will be four times older than his average compatriot. Given the need to rejuvenate a moribund, oil-dependent economy, that’s not ideal. Opposition challenger Atiku Abubakar is hardly a breath of fresh air and has a graft-tainted reputation, but his talk of relaxing the state’s grip on the currency and oil sector is at least a step in the right century.

Breakingviews - Jumbo reality check frees Airbus to fly higher

14 Feb 2019

LONDON (Reuters Breakingviews) - European politicians, as well as passengers who appreciate more leg room, will lament Airbus sounding the death-knell of the A380. Few others will shed tears for the gas-guzzling behemoth. As with the supersonic Concorde, another engineering marvel, the superjumbo owed more to regional political ambition than commercial logic. The aerospace group can now focus on closing its valuation gap with U.S. rival Boeing by churning out more of the nimbler, greener two-engine jets that airlines want to fly.

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