LONDON (Reuters Breakingviews) - London Stock Exchange Group is making a big bet on big data. The bourse operator on Thursday confirmed its plan to take over financial information purveyor Refinitiv for $27 billion, including debt. To make the numbers add up, Chief Executive David Schwimmer will not just have to cut costs, but find new sources of growth.
LONDON (Reuters Breakingviews) - David Schwimmer is making a bold break for independence. Almost exactly a year since he took charge of the London Stock Exchange Group, the former Goldman Sachs investment banker is hoping to finalise a $27 billion takeover of financial data provider Refinitiv. It’s a complex and highly leveraged attempt by the perennial takeover target to turn itself into a buyer instead.
LONDON (Reuters Breakingviews) - Boris Johnson has finally realised his ambition. The former mayor of London and prominent Brexiteer is set to become the UK’s next prime minister after winning the contest to lead the Conservative Party, garnering 66% of the roughly 139,000 votes cast by party members. His triumph will be fleeting, though. To avoid a shorter, even less successful tenure than his predecessor Theresa May, he must wriggle through one of three narrow escape routes.
LONDON (Reuters Breakingviews) - Why don’t more unemployed people move to other cities to find work? How do schools contribute to inequality? Or why do some depressed areas recover, while others languish? These questions, which have plagued and puzzled economists for decades, have acquired new urgency. Raghuram Rajan, a former Indian central bank governor who is in the running to replace Bank of England chief Mark Carney, thinks the answers will be clearer if they are studied through a new lens.
LONDON (Reuters Breakingviews) - Big technology companies have upended industries ranging from music to retailing. What will be their disruptive impact on financial services? That’s the latest conundrum keeping bank regulators awake at night. Innovations like Facebook’s new global digital currency, Libra, demand a joined-up response. That will be hard to agree.
LONDON (Reuters Breakingviews) - The Bank of England is extending a wary welcome to Big Tech. Governor Mark Carney on Thursday laid out the ways the UK central bank might adapt to rapid shifts in finance. Embracing technology that helps lower costs and boost competition makes sense. Large companies like Facebook, though, deserve to be greeted with open eyes.
LONDON (Reuters Breakingviews) - Donald Trump’s state visit may do Britain a favour - just not in the way he envisages. Even before Air Force One touched down in London on Monday, the U.S. president had intervened in the race to succeed Prime Minister Theresa May, advocated a chaotic Brexit, and insulted the capital’s mayor, Sadiq Khan. Leaving the European Union makes Britain even more dependent on an increasingly erratic ally.
LONDON (Reuters Breakingviews) - Brexit has claimed its second British prime minister. Less than three years after she took over from David Cameron following the country’s vote to leave the European Union, Theresa May on Friday announced she would step down on June 7. But her replacement will face the same dilemmas.
LONDON (Reuters Breakingviews) - The European Parliament is limbering up for its least irrelevant election. Voters in the European Union – which still includes the United Kingdom – started heading to the polls on Thursday in the latest iteration of continent-wide democracy.
BRUSSELS (Reuters Breakingviews) - The EU’s antitrust commissioner is famous for imposing multi-billion-dollar fines on Alphabet and Apple. She joins Liam Proud and Peter Thal Larsen to explain why combatting the greed, power and fear that stifles competition is even more crucial in a data-driven world.