Trump helps make cross-border M&A great again
Cross-border M&A had its strongest start since 2007, driving first-quarter global volumes up 7 percent, as optimism over President Donald Trump’s economic agenda buoyed the stock market and the dollar, making foreign acquisitions cheaper than some U.S. targets. Many U.S. CEOs are feeling richer and more confident thanks to a rally in their companies’ stock, yet U.S. acquisition targets often feel they are worth a lot too, while uncertainty over Trump’s tax policies makes planning a deal more difficult. Reuters’ Lauren Hirsch and Greg Roumeliotis report.
Einhorn’s GM share double clutch poses challenge for some drivers
Hedge fund manager David Einhorn’s unusual plan to divide General Motors shares into two classes poses a corporate governance minefield for GM board members. The plan would create one class of stock for investors keen to capture GM’s juicy dividend, and a second for those eager to bet on its growth potential. Reuters’ Michael Flaherty reports on why this is a challenge.
A 90-minute train ride from the Gare de Lyon station in Paris traces a political gulf between big-city voters and the rest, a divide that has shaken up Britain and the United States and has an outside chance of doing the same in France’s upcoming presidential election. Ride this train with Reuters reporters Ingrid Melander and Johnny Cotton.
Russians develop taste for alcohol-free beer
Russians are among the biggest drinkers of alcohol in the world, yet are developing a new taste for alcohol-free beer, which could help save a brewing industry that has stalled under government initiatives to discourage drinking. The trend, say people in the industry, is being driven by a move toward healthier lifestyles among Russian consumers, nudged by government measures that include restrictions on alcohol sales and tougher penalties for drunk-driving. Reuters’ Maria Kiselyova reports.
Terror threats transform China’s Uighur heartland into security state
Reuters’ Philip Wen visits the old Silk Road city of Kashgar in far-western China, part of a region where Beijing says it faces a thread from Islamist extremists in this primarily Muslim Uighur region of the country. Wen observes a series of safety drills designed to help shopkeepers fight insurgent attacks, but critics say the drills are part of an oppressive security operation.
Cuba needs more green to run on green
Cuba, battling a chronic energy deficit, has all the sunshine, wind and sugar to fuel what should be a booming renewables sector - if only it could find the money. This has become a state priority Venezuela slashed subsidized oil shipments to the island. The financing puzzle is a crucial one to solve if Cuba is to hit its target of renewables filling 24 percent of its energy needs by 2030, up from 4 percent today, a strategy that would require billions of dollars in investment. Reuters’ Sarah Marsh reports from Ciro Redondo.
Reuters photo of the day
Rocket Man meets Sky Pilot
A recycled SpaceX Falcon 9 rocket soars toward space above a Virgin Airlines passenger jet, which had just departed Orlando International Airport. REUTERS/Gregg Newton