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John Foley

Breakingviews - Occidental is winning Anadarko battle by a mile

01 May 2019

NEW YORK (Reuters Breakingviews) - Takeover battles are seldom messier than when companies try to pay with stock. In the case of the battle for oil driller Anadarko Petroleum, though, an unsolicited bid from Occidental Petroleum is beating the rival bid from far larger Chevron by a mile, even taking a skeptical approach to Oxy’s prospects.

Breakingviews - The Exchange: Joseph Stiglitz

29 Apr 2019

NEW YORK (Reuters Breakingviews) - Americans are unequal, unheeded and underpaid, the former White House economist argues in his new book “People, Power, and Profits.” He stopped by Breakingviews to discuss why global trade needs a rewrite, Facebook deserves a break-up and socialism is less scary than it sounds.

Breakingviews - Saudi Aramco is big, just not big enough

02 Apr 2019

NEW YORK (Reuters Breakingviews) - Saudi Aramco is enormous – staggeringly so. Yet by one measure that matters a lot – the $2 trillion valuation envisaged by Crown Prince Mohammed bin Salman – it’s still not enormous enough.

Breakingviews - Grindr stokes bad blood in U.S.-China relationship

27 Mar 2019

NEW YORK (Reuters Breakingviews) - Human sexuality has no clear lines – a bit like foreign investment controls. The American authorities have classified Grindr, the dating app targeted at gay users, as a security risk because it’s owned by Chinese gaming group Beijing Kunlun Tech, Reuters reported on Wednesday. The fuzzy nature of overseas investment scrutiny means that one review doesn’t dictate the outcome of future ones – but it’s likely that Grindr’s problems will stoke more bad blood in the U.S.-China relationship.

Breakingviews - Apple Card puts customer first, Goldman second

26 Mar 2019

NEW YORK (Reuters Breakingviews) - Apple’s new credit card is a remarkable thing. Not because of the cash back offered to users – they can get similar deals elsewhere. And not because it’s made of titanium and has no numbers printed on it. The unusual thing is that in order to muscle in on a competitive industry, issuer Goldman Sachs has tossed aside many of the features that make the card business lucrative for banks in the first place.

Breakingviews - Cannabis brings out mellow side of U.S. politics

13 Feb 2019

NEW YORK (Reuters Breakingviews) - Even a divided America seems to agree that the federal prohibition of cannabis deserves a rethink. Six in 10 people say the use of marijuana should be legalized, according to a recent Pew Research Center survey. On Wednesday, a congressional hearing approached that question only obliquely. But its narrow focus is more likely to lead to action - and deliver what the industry really needs.

Breakingviews - The Exchange: Big Weed's big year

11 Jan 2019

TORONTO (Reuters Breakingviews) - Bruce Linton runs the world's biggest cannabis producer, Canopy Growth. He visited Breakingviews to discuss what's coming down the pipe in 2019, why a $100 bln weed company is still some way off, and why he doesn't actually partake - yet.

Breakingviews - Cannabis will take China tech’s path to propriety

03 Jan 2019

NEW YORK (Reuters Breakingviews) - America’s cannabis growers will follow an unusual path to propriety. The subversive industry is feared by the establishment, with investors reliant on legal loopholes. Yet these companies are starting out much like China’s tech giants did. In the same fashion, as they create jobs and wealth, appetite for reining them in will wane.

Breakingviews - Firearms will test the mettle of woke financiers

02 Jan 2019

NEW YORK (Reuters Breakingviews) - If 2019 is like 2018, roughly 30,000 Americans will be killed by a bullet. And more big companies and investors will say publicly it’s time to make guns safer. If they say it in the right way, it might even make a difference.

Breakingviews - Private equity returns will drop a digit

19 Dec 2018

NEW YORK (Reuters Breakingviews) - Disappointment is coming for the clients of private equity firms. Companies which use debt and management wiles to take businesses private typically target an annual yield – the so-called internal rate of return – of at least 15 percent. It’s hard to see recent deals matching that. Instead of 15, investors should steel themselves for more like five.

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