LONDON (Reuters Breakingviews) - British police have given Glencore boss Ivan Glasenberg a not-so-subtle reminder about retirement. Their announcement of an investigation into possible bribery at the commodity giant came just two days after the 62-year-old said he could – stress could – stand down next year. Legal headaches on both sides of the Atlantic and a sinking share price may help him make up his mind.
LONDON (Reuters Breakingviews) - EasyJet has discovered a low-cost way to offset Greta Thunberg. The Swedish environmental activist is trying to make flying shameful. Now the British budget carrier will spend 25 million pounds a year to compensate for its carbon dioxide emissions. That’s less green than it sounds.
LONDON (Reuters Breakingviews) - “British Broadband” is a catchy alliterative title, but that’s about all. The opposition Labour party on Thursday announced it wants to nationalise telecoms provider BT’s network in order to give everyone speedy fibre connections. State ownership might fix the country’s lagging communications infrastructure. But the promise of free web surfing risks condemning the idea to previous failed experiments in public ownership like British Coal or carmaker British Leyland.
LONDON (Reuters Breakingviews) - Xavier Niel is adding financial wizardry to his reputation for entrepreneurial flair. The French billionaire on Tuesday unveiled a convoluted share buyback and capital increase that could raise his stake in Iliad, the struggling telecom group he controls, by 20%. It looks a costly way to buy shares.
LONDON (Reuters Breakingviews) - To bacon and tragic Shakespearean princes, Denmark can add a new claim to fame: wind power. Despite being small and only moderately blustery, the northern European nation is home to the sector’s two leading lights – wind farm operator Orsted and turbine maker Vestas Wind Systems, worth $54 billion between them. With climate change inflating the global wind-power market to more than $1 trillion in the next two decades, there’s potential for both to get a whole lot bigger.
LONDON (Reuters Breakingviews) - Ryanair still has a 737 MAX-shaped cloud on the horizon. Shares in the European budget airline are up more than 50% since hitting a near five-year low in August, mainly because a price war is proving less painful than feared. Yet outsize exposure to the grounded Boeing jet is crimping future passenger growth. Without the super-efficient plane in its fleet, costs will also be harder to control.
LONDON (Reuters Breakingviews) - In takeovers, minority investors are often treated like the slaves of their acquiring masters. Not in Germany. M&A rules in Europe’s biggest economy, centred around ominously named “domination agreements”, indeed feature a strong hint of masochism. But as Austrian chipmaker AMS may soon discover in its 4.5 billion euro quest to snare Munich-based Osram Licht, it’s normally the bidder which ends up enduring the pain.
LONDON (Reuters Breakingviews) - Given its importance to 5G, Ericsson has major self-confidence issues. The $30 billion Swedish firm has added 10% to its 2020 sales forecasts for the superfast mobile kit that will supposedly bring the ‘internet of things’ to life. With Chinese market leader Huawei weighed down by U.S. President Donald Trump, that looks overly cautious.
LONDON (Reuters Breakingviews) - Sonangol is Angola’s answer to Aramco - in more ways than one. After years of false starts, the Angolan state oil giant is on track for an IPO. As with its larger Saudi cousin, awkward questions about financial transparency and governance could yet cause a derailment.
Zimbabwe's Robert Mugabe was feted as an African liberation hero and champion of racial reconciliation when he first came to power in a nation divided by nearly a century of white colonial rule. | Video