BEIJING (Reuters Breakingviews) - Job-hopping is rife in the notoriously competitive Chinese labour market, and multinationals are losing their edge in the fight to recruit top executives, a survey shows. Fortunately they still hold a valuable advantage: the key to an international career at a time when many qualified Chinese professionals are fleeing the country's toxic air and overloaded school systems.
Hong Kong (Reuters Breakingviews) - LeEco's rescue is rewarding bad habits. Hong Kong-listed property developer Sunac China is ploughing funds worth more than half its market value into the sprawling and overstretched TVs-to-electric cars group led by billionaire Jia Yueting. The partnership makes Jia's earlier pledge to slow down sound unconvincing, and could lead Sunac astray too.
LONDON (Reuters Breakingviews) - Politics could flatter or flatten global economic growth in the next two years. That’s the two-handed conclusion drawn by the latest projections from the International Monetary Fund. The promise of U.S. tax cuts under President-elect Donald Trump could give America and the world a boost, but his protectionist tendencies would have the opposite effect. The uncertainty makes economic forecasting more fraught than usual.
LONDON (Reuters Breakingviews) - Luxottica and Essilor's plan to merge looks more corrective than visionary. The Italian eyewear group is backing a 50 billion euro union with the French lens-maker, and Luxottica founder Leonardo Del Vecchio is willing to cede control and some value to get the deal done. For the Italian group's other shareholders, that's probably a fair price for fixing governance issues, and perhaps selling more specs.
NEW YORK (Reuters Breakingviews) - America's big banks are laying out their base-case to Washington, D.C. Bank of America, JPMorgan and Wells Fargo all generated enough profit to beat estimates in the fourth quarter. Even so, none performed near well enough to justify stock gains since the U.S. election last November.
LONDON (Reuters Breakingviews) - Fiat Chrysler investors are betting that emissions issues in the United States are a muddle, rather than a fiddle. The carmaker's Chief Executive Sergio Marchionne on Jan. 12 vigorously denied any intentional emissions cheating and confirmed an ambitious 2018 financial target. The next day the group's shares rebounded smartly.
HONG KONG (Reuters Breakingviews) - China Resources has secured an elegant exit from an ugly fight. The state-owned conglomerate is selling its entire 15.3 percent stake in China Vanke for $5.4 billion to Shenzhen Metro. It is an attractive price for the long-time shareholder to get out of the country’s second largest property developer by sales. And it may herald the beginning-of-the-end of a high profile battle for control of the company which has irked regulators.
NEW YORK (Reuters Breakingviews) - It's hard to predict anything about Donald Trump's presidency. That's true for the approval of AT&T's $85.4 billion deal to buy Time Warner, too. At the very least, U.S. watchdogs could demand concessions from the telecom firm to allow the merger. One could be disposing of news network CNN.
NEW YORK (Reuters Breakingviews) - Amazon is repackaging a special delivery for 1600 Pennsylvania Ave. The man moving in ordered jobs from around the country and the e-commerce titan says it can supply 100,000 of them by mid-2018. That sounds impressive, but also tracks Amazon's workforce growth of late. It's just the sort of box with a bow, however, that seems to satisfy the intended recipient.
NEW YORK (Reuters Breakingviews) - The president-elect's attempt to avoid conflicts of interest while in the White House is window dressing that sets a bad example for his administration. Meanwhile, Trump's shadow hangs over the Detroit Auto Show. And his infrastructure plan is not as straightforward as it seems.
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