Edition:
United Kingdom

Gina Chon

Breakingviews - Uber-Lyft price-war truce will be temporary

09 Aug 2019

SAN FRANCISCO (Reuters Breakingviews) - The unofficial price-war truce between Uber Technologies and Lyft may soon be a distant memory. Both ride-hailing firms say they’re being more rational with incentives while user growth was steady. But expenses are rising. And a record $5.2 billion quarterly loss and drags from freight and food delivery put Uber under more pressure. Cutting prices may be a tempting way to boost core rides.

Breakingviews - Trump’s yuan move makes a China deal much harder

06 Aug 2019

SAN FRANCISCO (Reuters Breakingviews) - The decision to label China a currency manipulator boxes in Donald Trump and Xi Jinping. The U.S. Treasury Department made the move after Beijing allowed the yuan to slide below the key level of 7 to the dollar. It’s the first such designation for the People’s Republic since 1994. The sudden escalation will make it harder for both sides to reach a trade truce.

Breakingviews - Silicon Valley giants face regulatory quicksand

24 Jul 2019

NEW YORK/SAN FRANCISCO (Reuters Breakingviews) - The four horsemen of Silicon Valley could soon be facing their Microsoft moment. The U.S. Department of Justice is investigating whether dominant search engines, social-media platforms and e-retailers squelch competition. Apple, Alphabet, Amazon and Facebook, while not mentioned, are obvious targets. The mandate is broad and could conflict with other watchdogs’ efforts. As the software giant founded by Bill Gates discovered two decades ago – and AT&T more recently - such investigations may ultimately come to little or nothing. But the distractions they cause come at a cost.

Breakingviews - Weak Facebook penalty mirrors weak U.S. watchdog

23 Jul 2019

SAN FRANCISCO/NEW YORK (Reuters Breakingviews) - A weak Facebook penalty reflects the state of its U.S. watchdog. The social network will pay a $5 billion fine and form a privacy oversight panel to settle allegations that it mishandled user data. The Federal Trade Commission, which is expected to announce the settlement on Wednesday, doesn’t have enough powers or staff to punch harder.

Breakingviews - The Exchange: Andreessen Horowitz’s Scott Kupor

22 Jul 2019

SAN FRANCISCO (Reuters Breakingviews) - The venture capitalist’s new book, “Secrets of Sand Hill Road,” is a fundraising guide for entrepreneurs. At his office off the famed Silicon Valley street he discusses with Breakingviews whether tech founders make good CEOs and details the biggest financial mistakes they make.

Breakingviews - Review: Blaming big data is political diversion

19 Jul 2019

SAN FRANCISCO (Reuters Breakingviews) - Big data is the latest bogeyman of Western politics. A new documentary, “The Great Hack”, shows how the consultancy Cambridge Analytica targeted undecided voters in the Brexit referendum and 2016 U.S. election, partly by using Facebook. It’s a chilling tale but ignores the deeper economic and other forces that helped determine the outcome of those polls.

Breakingviews - Silicon Valley is trapped in political purgatory

15 Jul 2019

SAN FRANCISCO (Reuters Breakingviews) - Silicon Valley finds itself trapped in political purgatory. Facebook can afford to shrug off an expected $5 billion fine over privacy, but the $580 billion social network and several of its peers face a grilling from regulators and Congress on multiple fronts. Big tech doesn’t want a Wall Street-like straitjacket, but growth will suffer without clear rules of the road.

Breakingviews - China is elephant in the room amid 2020 Democrats

28 Jun 2019

SAN FRANCISCO (Reuters Breakingviews) - For Democrats running in the 2020 presidential election, China is the elephant in the room. White House contenders touted better healthcare access, immigration reform and college aid in their first debates. Donald Trump’s trade war with Beijing was only briefly discussed. It’s an awkward topic as many agree with the commander-in-chief.

Breakingviews - Capitalism will be villain of 2020 U.S. elections

27 Jun 2019

SAN FRANCISCO (Reuters Breakingviews) - Capitalism has emerged as the villain in the race to represent the Democrats in America’s next presidential election. Contenders sparring in their first debate on Wednesday agreed that the economic system has helped mainly the rich. Even on socialism-averse Wall Street that idea has gained traction.

Breakingviews - Trump will be first to blink in China stare-down

24 Jun 2019

SAN FRANCISCO (Reuters Breakingviews) - Donald Trump will be the first to blink in his stare-down contest with China. The U.S. president and counterpart Xi Jinping will try to restart trade talks at this week’s G20 summit. Trump may be hoping Beijing will back down, but he needs a deal more – and Xi is feeling combative.

World News

Trump paints picture of unity at prickly G7 summit

U.S. President Donald Trump said on Sunday he was getting along well with Western allies at a G7 summit in France, dismissing reports of rifts among leaders and declaring that they "respect" the trade war between Washington and Beijing.