Adam Neumann lost his CEO role and control of the shared-office provider after its valuation plummeted in preparation for a now-postponed IPO. But WeWork’s business model remains a problem. Plus: Thomas Cook’s collapse hits China’s Fosun. And: parsing financial climate pledges. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
Saudi Arabia is quickly repairing the damage drones inflicted on its oil industry. But the fallout has implications for everything from security to U.S. shale drillers to climate change-driven alternative energy. Plus: Why are AB InBev and ESR restarting Hong Kong listing plans? See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
Hiroto Saikawa is stepping down amid controversy over his pay. It has implications for the company’s rocky Renault alliance, and by extension for the French carmaker’s recent attempt to merge with Fiat Chrysler. Plus, is activist Elliott Management going soft on AT&T? See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
Done right, reforestation can capture much of the carbon causing climate change. It would improve crop yields and water quality and lessen the power of floods and storms like Hurricane Dorian. There are good financial returns to reap, too. Plus: the Alibaba competitor to watch. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
UK Prime Minister Boris Johnson has prorogued parliament, cutting the time available for lawmakers to thwart a planned Oct. 31 EU departure. What does this mean for Brexit and the UK economy? Plus: we pick through the wreckage of China’s crashing automotive market. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices
A U.S. downturn is near, judging by past early warning signals from yield curves to bank valuations. But fallout from the 2008 crisis has sapped them of some predictive power. Plus: what the exit of Cathay Pacific’s CEO says about Beijing’s response to the Hong Kong protests. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
The shared-office provider’s long-awaited IPO filing is packed with pointless life-affirming tropes. But it also details a host of conflicts of interest and other risks that should send investors running. Plus: India’s powerhouse Reliance is building a war chest for dominance. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
The White House’s decision to brand Beijing a currency manipulator is the latest move in a conflict riven by miscommunication, unrealistic expectations and no obvious way out. Plus: Why the LSE is paying $27 bln for Refinitiv, and which of the data firm’s owners comes out on top. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
The meatless-burger maker is the best-performing IPO of the year by far. Now insiders are selling stock early as the company deals with rising competition, regulations and even a potential pea shortage. Plus: Using wine goggles to look at Western firms’ joint ventures in China. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
Boris Johnson helped persuade Britons to vote to leave the EU. London’s former mayor now leads the country – and may find his pledge to quit the European bloc hard to keep. Meanwhile, U.S. watchdogs are circling Amazon, Alphabet, Apple and Facebook. Plus: Protests rock Hong Kong. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
The $150 bln brewer of suds like Budweiser and Stella has scrapped its Asia unit’s Hong Kong float. CEO Carlos Brito now needs new ways to reduce the company’s debt. And as the second pulled IPO in weeks amid civil unrest, it puts the city’s financial hub under a spotlight. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
Chennai, the country’s Motor City, has run dry. Another 20 metropolises could follow by next year. The personal and economic toll is mounting. Plugging leaks, better crop choices and proper pricing can help. Often, as water problems elsewhere show, that requires good governance. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
After much unedifying horse-trading, European leaders have finally agreed on who will head the commission, central bank and other top roles. That has implications for the bloc’s future. Plus: Why Africa’s growth figures make worrying reading for the continent’s democrats. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
Neither profit nor investor pressure explain U.S. firms lining up to mark 50 years of the LGBT-rights movement. They may simply be doing the right thing. But the nation still has a long way to go. Plus: how the UK prime minister race affects the Bank of England’s next boss. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
A star economist at the Swiss bank sparked outrage on Chinese social media after his remarks about the country’s pigs were misconstrued. UBS’s decision to put him on leave seems overdone. And: Those weighing the benefit of a Facebook cryptocurrency must ask if “In Zuck we trust.” See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
Raytheon and United Technologies’ planned $114 bln tie-up raises questions about strategy, cost cuts and executive overreach. It’s prompted their shares to tank and activist Bill Ackman to oppose it. And Fiat Chrysler and Renault’s mooted merger has crashed. Can they salvage it? See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
The territory's government, under pressure from Beijing, is trying to ram through a rule change that would allow suspects to be transferred to mainland courts. Foreign executives have cause to be worried. Plus: Steve Bannon wants to ban Chinese IPOs from New York. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices
Fiat Chrysler spurned Peugeot by offering to merge with France’s Renault, which is itself joined to Nissan. How will the pairings play out, and what does it mean for the automotive sector? Plus: Why fossil-fuel giants like BP are painting themselves a pale shade of green. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
Qualcomm lost a lawsuit brought by one DC overseer, even as the DOJ intervened, while $26 bln T-Mobile US-Sprint merger is getting yanked around by agencies with opposing views. Doing business is hard when agencies no longer act in unison. Plus: Is Luckin Coffee going cold? See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
Washington and Beijing may yet find a way to end their escalating trade war soon. But for many businesses, the damage already inflicted will be hard to undo. Plus: CEO Mark Zuckerberg might not welcome more calls to break up Facebook, but shareholders could benefit. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices
Occidental boss Vicki Hollub corralled BofA CEO Brian Moynihan and investor Warren Buffett to her side to seal a $38 bln offer for Anadarko. Her tactics scared off rival bidder Chevron but may alienate her own shareholders. Plus: Malaysia’s reform efforts since the 1MDB scandal. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
Both Silicon Valley giants are looking for the next big thing after a slowdown in their main product – iPhone sales at Apple and online ads at Alphabet. Lower expectations mean Tim Cook’s outfit has more time to act. Plus: Activist Dan Loeb puts Sony back under the microscope. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
Young, tech-savvy adults say everything from high prices to climate change may prompt them to leave the San Francisco area. Other U.S. cities can benefit. Also: Why CEO Jack Dorsey should favor Square over Twitter. And what to expect from Indonesian President Widodo’s second term. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
HBO’s hit series is ending as parent AT&T, Amazon, Apple and Walt Disney launch their claims to the streaming-video crown. Netflix, though, will be hard to usurp. Elsewhere, India’s weeks-long election gets underway. And global economic growth collides with nationalism’s rise. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
The U.S. bank may be tempted to recruit from splashy peers like Goldman Sachs. But there are better reasons to poach from smaller firms. Meanwhile, the $170 bln Chinese liquor maker Kweichow Moutai is worth more than Diageo. Breakingviews columnists discuss the firewater’s draw. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
The ride-hailing firm is worth $30 bln after its stock-market debut, even though its losses are growing. Shareholders are betting a shift to autonomous driving will steer it to a profit, but that may be a long way off. Plus: Saudi Aramco lets investors drill into its finances. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
Peugeot and Renault both seem keen to merge with the Italo-American carmaker. Either deal could improve earnings from smaller cars, but couldn’t plug all Fiat Chrysler’s gaps in Asia and new tech. Plus: Apple’s underwhelming new services. And can Huawei’s charm offensive succeed? See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
Putting Deutsche and Commerz together might create a national banking champion. A more likely outcome, though, would be a poorly performing behemoth. Meanwhile, Volkswagen boss Herbert Diess commits the mother of all CEO gaffes. Plus: sizing up a Chinese housing unicorn. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
The U.S. aircraft maker is facing a crisis after a second crash involving an updated version of its workhorse 737 jet. There’s a financial hit to Boeing from countries grounding the plane; but there are geopolitical implications, too. Plus: China tries to stimulate its economy. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
The three-way takeover fight involving Newmont, Barrick Gold and Goldcorp is full of aggression and big egos. Breakingviews columnists unpick the gold-mining M&A frenzy and debate whether cooler heads can prevail. Plus: China telecom giant Huawei has a public-relations challenge. See acast.com/privacy for privacy and opt-out information. Learn more about your ad choices. Visit megaphone.fm/adchoices...
