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☆ Japan’s rates tweak is careful and crafty: podcast
▼ + stars: | 2023-11-02 | by ( Aimee Donnellan | ) www.reuters.com time to read: 1 min

Breakingviews category · November 3, 2023 · 6:06 AM UTC“A billion here, a billion there”, Illinois Senator Everett Dirksen reputedly said of the U.S. budget deficit in the mid-1960s, “and pretty soon, you’re talking big money". The senator would need to do some swift recalibrations were he confronted with today’s American public finances. Last month, the Congressional Budget Office (CBO) reported that the federal budget deficit for the fiscal year ending September 30 had hit $1.7 trillion. Shortly afterwards, the International Monetary Fund forecast that the deficit will continue at the same level for at least the next five years. Meanwhile, government debt has tripled since the senator’s day to around 120% of GDP.

Persons: Everett Dirksen, you’re Organizations: Congressional, Office, International Monetary Fund Locations: Illinois

☆ Qatar: How a small Arab state became indispensable in talks with Hamas
▼ + stars: | 2023-11-01 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +9 min

But some have said that Qatar’s relationship with Hamas may become a liability. “(Qatar’s) relationship with Hamas has been a key component of the mediation strategy,” said Andreas Krieg, an associate professor at King’s College London who focuses on Gulf states. What is the nature of Qatar’s relationship with Hamas? That relationship has made Qatar an important mediator with Hamas during its conflicts with Israel. Despite its mediation efforts, Israeli Foreign Minister Eli Cohen last week accused Qatar of financing Hamas and harboring its leaders.

Persons: ”, Andreas Krieg, “, David Barnea, –, Israel, Tzachi Hanegbi, ” Hanegbi, Biden, ” Krieg, Majed Al, Ansari, Krieg, ” Hiltermann, Eli Cohen, ” Cohen, Antony Blinken, Joost R, Hiltermann, Qatar’s coziness, Hamas’s, “ You’ll, ” Israel, Becky Anderson, Ibrahim Dahman, Hamdi Alkhshali, Aimee Look, Abu Dhabi Organizations: UAE CNN, Qatar, King’s College London, Israel, CNN, National Security, United Arab, Reuters, NATO, Doha, Al, Hamas, Qatar’s Ministry of Foreign Affairs, US, UN, Washington Post, Qatari, “, Group Locations: Abu Dhabi, UAE, Qatar, Israel, Gaza, Egypt, United States, Rafah, Al, Arish, Washington, Hamas, Saudi Arabia, Bahrain, United Arab Emirates, Iran, Doha, Western, Arab, Al Jazeera, Tehran, Afghanistan, “ Qatar, North Africa, Brussels, “, Atlanta, Abu

☆ A software engineer was looking for a side hustle so he started making TikTok videos about Costco. It paid off.
▼ + stars: | 2023-11-01 | by ( Aimee Pearcy | ) www.businessinsider.com time to read: +5 min

After noticing how much people loved Costco, Anil, 33, created a side hustle based on the store. Since creating a TikTok account in June, he has amassed over 136,000 followers. AdvertisementAdvertisementDuring the day, Anil, who prefers to keep his full name private because he does not want to reveal his identity on social media, works full-time as a software engineer. Each morning, he spends an hour editing the videos and uploading them to his TikTok account, @costcofinds75, to show to his 136,000 followers. So I thought, OK, people are liking Costco products, so why don't I try this?"

Persons: Costco, Anil, he's, —, He'd, hadn't, he'd, fryer, Anil's, doesn't Organizations: Service, Costco, Club

☆ Adam Johnson: ‘Outstanding’ American ice hockey player dies in ’freak accident’
▼ + stars: | 2023-10-29 | by ( Aimee Lewis | Wayne Sterling | ) edition.cnn.com time to read: +2 min

CNN —American ice hockey player Adam Johnson has died following a “freak accident” on the ice as he played for English side Nottingham Panthers, the team said in a statement. In the second period of the team’s Challenge Cup match against the Sheffield Steelers on Saturday, Johnson appeared to suffer a serious neck injury after colliding with a Sheffield player. Nottingham Panthers described the 29-year-old as an “outstanding ice hockey player,” and said everyone at the club was heartbroken. The Panthers play in England’s top league, the Elite Ice Hockey League, which announced that all games scheduled to take place on Sunday had been postponed. “The National Hockey League family mourns the passing of former Pittsburgh Penguin Adam Johnson.

Persons: Adam Johnson, Johnson, ”, “, Adam, Pittsburgh Penguin Adam Johnson Organizations: CNN, English, Nottingham Panthers, Sheffield Steelers, Sheffield, Panthers, BBC Sport, Elite Ice Hockey League, American Hockey League, NHL, Pittsburgh Penguins, Minnesota Wild, Penguins, National Hockey League, Pittsburgh Penguin Locations: Sheffield, England’s, Hibbing , Minnesota, Sweden, Germany

☆ Victor Wembanyama enjoys first NBA win as he leads San Antonio Spurs to victory over Houston Rockets
▼ + stars: | 2023-10-28 | by ( Aimee Lewis | ) edition.cnn.com time to read: +2 min

Standing at 7-foot-4-inches with an 8-foot wingspan, Wembanyama possesses a skillset which has been rarely seen before in the NBA. “I really, really love winning,” said Wembanyama, per ESPN. “It’s what I love most in life, so of course it feels great.”Victor Wembanyama celebrates after beating the Houston Rockets. “I said this after the first preseason game or scrimmage, but he’s going to make some amazing plays at least once a game, and tonight he probably had three or four,” he said, per ESPN. The Golden State Warriors secured a 122-114 victory against the Sacramento Kings, with Steph Curry contributing a game-high 41 points.

Persons: Victor Wembanyama, Frenchman, ”, Wembanyama, ” Victor Wembanyama, Chandan Khanna, Devin Vassell, “, Luka Dončić, Steph Curry, Nikola Jokić Organizations: CNN, NBA, San Antonio Spurs, Houston Rockets, Frost Bank, Spurs, ESPN, “, Getty, Dallas Mavericks, Brooklyn Nets, Golden State Warriors, Sacramento Kings, Denver Nuggets, Memphis Grizzlies Locations: ”

☆ Molly Carlson was in a ‘dark place’ prior to Rio Olympics. Now she is inspiring millions to talk about mental health
▼ + stars: | 2023-10-28 | by ( Aimee Lewis | Martynas Ruseckas | ) edition.cnn.com time to read: +12 min

Cliff diving helped the 25-year-old recover from what she calls a “year from hell,” overcoming loneliness and a binge eating disorder. “When I’m cliff diving, nothing matters other than me and the air, really. “I have the biggest passion for mental health, and I’ve learned so much from my personal experience that now it’s kind of become like my future,” she said. “What I learned during my experience was as soon as you talk about mental health with one person, it becomes real,” Carlson said. Quinn Rooney/Getty ImagesFor Carlson, competing in high diving at the Olympics would be more than just representing her country on the national stage.

Persons: Molly Carlson, Cliff, “, “ I’ve, ”, it’s, Carlson, Instagram, I’ve, ” Carlson, Romina Amato, Red Bull, ’, ’ Carlson, John Proctor, ” Proctor, Proctor, Dean Treml, Rhiannan Iffland, Valery Hache, messaged Carlson, people’s, BraveGang, –, “ We’ve, we’ve, Quinn Rooney, dethrone Iffland Organizations: CNN, CNN Sport, Pan, Team Canada, Olympic Games, Janeiro Games, Canadian, Olympics, Florida State University, FSU, Florida State Seminole, Atlantic Coast Conference, Getty Locations: TikTok, Fort Frances , Ontario, Canada, Thunder Bay, Nanjing, Montreal, AFP, South Africa, Los Angeles

☆ Ilia Malinin breaks 300-point barrier with personal best score to retain Skate America title
▼ + stars: | 2023-10-22 | by ( Aimee Lewis | ) edition.cnn.com time to read: +1 min

CNN —Figure skating phenomenon Ilia Malinin defended his title at Skate America on Saturday with a personal-best score of 310.47 points in the season-opening Grand Prix. Performing his free skate to the title music of the hit TV show “Succession,” Malinin landed four quad jumps. Malinin competes in the men's free program at Texas Events Center. Chris Jones/USA Today Sports/ReutersHis score was better than his previous best overall score of 288.44, achieved at the World Championships this year where he won bronze. “I wasn’t expecting to skate this well, especially with the pressure that I was facing.

Persons: Ilia Malinin, ” Malinin, Malinin, Chris Jones, Kevin Aymoz, Japan’s Shun Sato Organizations: CNN, Skate America, Credit Union of Texas, Texas Events, USA, Sports Locations: Allen , Texas

☆ Lionel Messi’s final game of the season for Inter Miami ends in defeat
▼ + stars: | 2023-10-22 | by ( Aimee Lewis | ) edition.cnn.com time to read: +2 min

CNN —After a fairy tale start to his Inter Miami career, Lionel Messi’s Major League Soccer (MLS) season ended in a 1-0 defeat on the road to Charlotte FC at Bank of America Stadium on Saturday. “When we arrived, we had two competitions in which we had the potential to compete well: the Leagues Cup and the U.S. Open Cup. David Jensen/Icon Sportswire/Getty Images“Out of the three tournaments, one was won by Inter Miami. The Argentine captained Miami and played the entire match. Miami ends the season 14th in the 15-team Eastern Conference, finishing with 34 points, while Messi concludes his campaign having scored 11 goals in 14 games in his debut season.

Persons: Lionel Messi’s, Kerwin Vargas ’, ”, Gerardo Martino, Lionel Messi, David Jensen, Messi, Ballon, Kristijan Kahlina Organizations: CNN, Inter Miami, Lionel Messi’s Major League Soccer, Charlotte FC, Bank of America, Miami, Charlotte, Leagues, Messi, U.S, MLS, Argentine, Eastern Conference Locations: Miami

☆ Rentokil may be next to nibble at US listing
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Mike Blake Acquire Licensing RightsLONDON, Oct 19 (Reuters Breakingviews) - Rentokil (RTO.L) is an obvious contender to ditch its London listing in favour of the U.S. CEO Andy Ransom said that it is getting harder to win new business due to “the macroeconomic backdrop”. Rollins is valued on nearly 38 times its forward earnings, versus Rentokil which was trading on just 23 times before Thursday’s fall, according to LSEG data. With Rentokil shareholders a little ratty, Ransom may come under more pressure to consider ways of pepping up the stock, like ditching London in favour of the more highly valued U.S. market. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Mike Blake, Andy Ransom, Ransom, Rollins, Aimee Donnellan, Jean, Pierre Mustier, Atos, Larry Fink, Uncle Sam, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, U.S, X, News Corp, Thomson Locations: Los Angeles , California, U.S

☆ Gaza turmoil’s repercussions extend far and wide: podcast
▼ + stars: | 2023-10-19 | by ( Aimee Donnellan | ) www.reuters.com time to read: +1 min

U.S. President Joe Biden meets with Israeli Prime Minister Benjamin Netanyahu and the Israeli war cabinet, as he visits Israel amid the ongoing conflict between Israel and Hamas, in Tel Aviv, Israel, October 18, 2023. In this Viewsroom podcast, Breakingviews columnists discuss the possible scenarios for the region, but also its implications for the US government. Listen to the podcastFollow @aimeedonnellan on XSubscribe to Breakingviews’ podcasts, Viewsroom and The Exchange. Editing by Oliver TaslicOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Joe Biden, Benjamin Netanyahu, Evelyn Hockstein, Oliver Taslic Organizations: Israeli, Hamas, REUTERS, Reuters, Thomson Locations: Israel, Tel Aviv, Saudi Arabia

☆ Rio Ferdinand: Soccer needs to ‘quickly’ address lack of diversity in leadership roles, says Manchester United great
▼ + stars: | 2023-10-17 | by ( Aimee Lewis | Zayn Nabbi | ) edition.cnn.com time to read: +4 min

“I think you look at my sport, football, you look at the pitch, you look at grassroots, it’s a huge mix,” Ferdinand said. “But the representation on the pitch isn’t reflected in other areas of football, especially where decisions are being made,” added Ferdinand. So I think that needs to change hugely and quickly.”Rio Ferdinand lifts the FIFA Club World Cup Trophy in 2008. In 2021-22, 83 coaching positions were advertised by English Football League clubs. Ferdinand, who captained England, won multiple Premier League titles, and the Champions League, said he would be open to moving into a leadership position within the sport.

Persons: Rio Ferdinand, Ferdinand, ” Ferdinand, ”, “, Shaun Botterill, Preeti Shetty, Deji Davies, Brentford –, Lorna Falconer, Justin Cochrane, ’ “ I’m, ’ “, haven’t, I’ll, Warner Organizations: CNN, Manchester United, England, TNT Sports, FIFA Club, Black, ’, – Premier League, League, English Football League, West London, Brentford FC, Brentford, Premier League, British, Premier League club, Champions League, Warner Bros . Discovery

☆ St James’s Place adds extra twist to wealth pain
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 13 (Reuters Breakingviews) - St James’s Place (SJP.L) is in a tricky spot. Wealth managers around the world are finding it harder to justify their fees as interest rates in countries like the UK have topped 5%. Friday’s 16% drop in the 4 billion pound UK wealth manager’s shares reflects its problematic twist on that trend. The UK firm is under pressure from regulators to overhaul its fee structure to comply with new rules brought in by the Financial Conduct Authority. SJP, run by CEO Andrew Croft, has been facing intense scrutiny due to its complex fee structure and stiff penalties for clients who look to withdraw their cash.

Persons: Andrew Croft, SJP, Aimee Donnellan, George Hay, Oliver Taslic Organizations: Reuters, Financial, Authority, Reuters Graphics Reuters, X, Infosys, Ericsson, Thomson Locations: Europe

☆ Apollo may get noodle LBO thrown back in its face
▼ + stars: | 2023-10-12 | by ( Aimee Donnellan | ) www.reuters.com time to read: +3 min

The private equity firm has offered to buy Wagamama owner Restaurant Group (RTN.L) for 701 million pounds including debt. Restaurant Group is an obvious takeover target. And Restaurant Group itself reckons it can crank up its EBITDA margin by as much as 3.5 percentage points by 2026. Apollo could comfortably double its money, assuming it used debt of around 300 million pounds to buy the business, or 3 times 2024 EBITDA. The deal is being undertaken by a special purpose vehicle indirectly owned by Apollo Funds, managed by affiliates of Apollo Global Management.

Persons: Andy Hornby, Frankie, Jefferies, John Wood, Neil Unmack, Oliver Taslic Organizations: Reuters, Restaurant, Irenic Capital, Oasis Management, Apollo Group, Restaurant Group, Apollo Funds, Apollo Global Management, Thomson Locations: Britain

☆ Smaller banks pose big problems for regulators: podcast
▼ + stars: | 2023-10-12 | by ( Aimee Donnellan | ) www.reuters.com time to read: 1 min

LONDON, Oct 12 (Reuters Breakingviews) - Britain’s Metro Bank came close to the brink, while several US regional players failed earlier in 2023. In this Viewsroom podcast, Breakingviews columnists debate whether watchdogs have the right tools to deal with such situations, and whether they’re brave enough to use them. Listen to the podcastFollow @aimeedonnellan on XSubscribe to Breakingviews’ podcasts, Viewsroom and The Exchange. Editing by Oliver TaslicOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: watchdogs, Oliver Taslic Organizations: Reuters, Britain’s Metro Bank, Thomson

☆ Obesity revolution gorges on dialysis maker
▼ + stars: | 2023-10-11 | by ( Aimee Donnellan | ) www.reuters.com time to read: +3 min

REUTERS/Megan Jelinger Acquire Licensing RightsLONDON, Oct 11 (Reuters Breakingviews) - Kidney dialysis kit-makers look set to be the latest victim of the obesity drug boom. On Wednesday, shares in Germany-listed Fresenius Medical Care (FMEG.DE) fell 20% after a medical trial showed a Novo Nordisk (NOVOb.CO) drug can reduce the risk of kidney failure. Diabetes and obesity drugs are showing their fringe benefits. In a recent drug trial, Wegovy, an obesity remedy made by Denmark’s Novo Nordisk, reduced the incidence of serious cardiovascular events like strokes and heart attacks by 20% in overweight patients. The collapse in Fresenius Medical Care’s share price looks appropriate.

Persons: Dawn, Megan Jelinger, Michael Sen, Danish drugmaker, Neil Unmack, Oliver Taslic Organizations: REUTERS, Reuters, Novo Nordisk, Denmark’s Novo Nordisk, Fresenius, Thomson Locations: Findlay , Ohio, U.S, Germany, Fresenius, Vamed, Danish

☆ LVMH may have to settle for a more humdrum future
▼ + stars: | 2023-10-11 | by ( ) www.reuters.com time to read: +2 min

The disappointing results knocked 6% off LVMH stock on Wednesday and dragged down rivals Richemont (CFR.S) and Kering (PRTP.PA) which also fell about 3%. That may compound investor worries about an overall slowdown of the company that’s behind Louis Vuitton and Christian Dior (DIOR.PA). And China’s economic slowdown and a possible U.S. recession make their future even more uncertain. LVMH is trading at 20 times its expected 2023 earnings after Wednesday's fall. If the less exuberant times keep rolling, LVMH may find itself settling for an even less luxurious valuation.

Persons: Richemont, Bernard Arnault’s, Louis Vuitton, Christian Dior, Karen Kwok, Aimee Donnellan, Streisand Neto Organizations: Reuters, UBS, Hermès, Reuters Graphics Reuters, Qantas, Thomson Locations: Asia, Japan, Brussels

☆ Buffalo Bills fans turn a pocket of London into a home from home but Jacksonville Jaguars spoil the party
▼ + stars: | 2023-10-08 | by ( Aimee Lewis | ) edition.cnn.com time to read: +5 min

Tottenham Hotspur Stadium, London CNN —On an unseasonably warm autumnal morning in East London, Mary Beth Schumen and her husband have made an early start to their Sunday. Yet on London’s underground, the Schumens are not the only ones in Bills blue. “It’s another feeling to be live in the stadium,” he tells CNN Sport in anticipation of his third London-based NFL game. Fireworks light up the sky before the start of the second international NFL game of the 2023 season. Ultimately, it was back-to-back London wins for the Jaguars who are now, like the Bills, 3-2 for the season.

Persons: Mary Beth Schumen, Mary Beth, White Hart Lane, She’ll, Eric Schuhmann of, “, Steve Luciano, ‘ Bills mafia ’, ”, Sean McDermott, Benjamin, Eden Gibson, I’ve, Travis Etienne, Alastair Grant, McDermott, Zay Jones, Josh Allen, Ian Walton, Josh Allen –, Stefon Diggs –, Buffalo Organizations: Tottenham Hotspur, London CNN, Buffalo Bills, NFL, Bills, English Premier League, Jacksonville Jaguars, CNN Sport, Tottenham, ‘ Bills mafia, ” Bills, Jaguars, Wembley, Atlanta Falcons, AFC, Jacksonville, London Locations: East London, Indiana, Leytonstone, England, masse, London, Eric Schuhmann of Saxony, Germany, Buffalo, acclimatize

☆ Max Verstappen crowned Formula One world champion
▼ + stars: | 2023-10-07 | by ( Issy Ronald | Aimee Lewis | ) edition.cnn.com time to read: +3 min

CNN —Max Verstappen was crowned Formula One world champion for the third time, securing the title in the sprint race at the Qatar Grand Prix on Saturday. Super proud of the job of the team,” Max Verstappen told Sky Sports. A dominant seasonMax Verstappen celebrates his third world title. When such an impressive car is driven by one of the all-time greats, which Verstappen now is, it is sporting alchemy. Only five other drivers have won more world titles: Michael Schumacher, Lewis Hamilton, Juan Manuel Fangio, Alain Prost and Sebastian Vettel.

Persons: Max Verstappen, Sergio Pérez –, Verstappen, It’s, ” Max Verstappen, McLaren’s Oscar Piastri, Lando Norris, Mercedes ’ George Russell, Clive Rose, Bull, Sergio Pérez, Red Bull, Ferrari’s Carlos Sainz, Christian Horner, “, I’ve, Jack Brabham, Jackie Stewart, Niki Lauda, Nelson Piquet, Ayrton Senna, Michael Schumacher, Lewis Hamilton, Juan Manuel Fangio, Alain Prost, Sebastian Vettel Organizations: CNN, Qatar, Prix, Sky Sports, Singapore Locations: Bahrain

☆ Simone Biles wins vault silver at World Championships after falling on attempting the eponymous ‘Biles II’
▼ + stars: | 2023-10-07 | by ( Aimee Lewis | ) edition.cnn.com time to read: +2 min

CNN —A day after winning a sixth all-around title to become the most decorated gymnast in history, Simone Biles added to her extraordinary medal collection with a silver in the vault at the Artistic Gymnastics World Championships on Saturday. Needing to regain her composure immediately for her second vault, Biles went on to score an impressive 14.666 for an average score of 14.549. Kaylia Nemour of Algeria won silver, while the USA’s Shilese Jones took bronze. On Friday, Biles surpassed Belarusian Vitaly Scherbo’s record of 33 overall medals across both the Olympics and the world championships with a record sixth all-around gold. Biles has now earned 28 career medals (21 gold, four silver, three bronze) at the world championships, which is an all-time record.

Persons: Simone Biles, –, Biles, Rebeca Andrade, Brazil’s Andrade, Korea’s Yeo Seo, jeong, China’s Qiu Qiyuan, Kaylia, Shilese Jones, Vitaly Scherbo’s Organizations: CNN, Olympics Locations: Algeria, Antwerp, Belgium

☆ Dozens of cats left to die in Abu Dhabi desert, prompting outcry
▼ + stars: | 2023-10-06 | by ( Aimee Look | ) edition.cnn.com time to read: +3 min

Abu Dhabi, UAE CNN —A group of United Arab Emirates residents has found more than 140 cats dumped in a desert lot in the capital Abu Dhabi, in a phenomenon that has drawn criticism from international animal rights organizations and prompted a government investigation. The animals were abandoned across the highway from the government-run Abu Dhabi Animal Shelter in al Falah, a residential area in Abu Dhabi. September temperatures reach a high of 40.5C (105F) in Abu Dhabi city. Ten pet cats from Dubai, an hour’s drive from Abu Dhabi, were identified by microchips and returned to their homes. Abu Dhabi initiated a Trap-Neuter-Return (TNR) program in 2008 to control feral and stray cats, primarily through the Abu Dhabi Animal Shelter.

Persons: Chiku, Jason Baker, ” Baker, Katherine Polak, microchips, Abu Dhabi Organizations: UAE CNN, United Arab Emirates, Abu, Abu Dhabi Animal, CNN, Animals, PETA, PETA Asia, Abu Dhabi’s Department, Municipalities, Humane Society International, International Organization for Animal Protection Locations: Abu Dhabi, UAE, Falah, PETA Asia, Dubai, Abu

☆ Finnair is one daunting rights issue that can fly
▼ + stars: | 2023-10-06 | by ( ) www.reuters.com time to read: +2 min

A Finnair Airbus A320-200 aircraft prepares to take off from Manchester Airport in Manchester, Britain September 4, 2018. REUTERS/Phil Noble/File Photo Acquire Licensing RightsLONDON, Oct 6 (Reuters Breakingviews) - Rights issues worth almost the value of a company’s equity rarely get off the ground. Tell that to 700 million euro Finnair (FIA1S.HE), which on Friday unveiled a 600 million euro rights issue. For one thing, the Finnish state owns over half of the Nordic airline and is supporting the rights issue. The government is offsetting the cost of the cash call by being partly refunded a 400 million euro capital loan it granted to the airline in the wake of the pandemic.

Persons: Phil Noble, Aimee Donnellan, Tesla, Sandoz, George Hay, Oliver Taslic Organizations: Airbus, Manchester Airport, REUTERS, Reuters, Nordic, SAS, X, Alstom, Brookfield, Thomson Locations: Manchester, Britain

☆ Big Four scandals will derail breakup plans: podcast
▼ + stars: | 2023-10-05 | by ( Aimee Donnellan | ) www.reuters.com time to read: 1 min

LONDON, Oct 5 (Reuters Breakingviews) - EY and PwC are dealing with issues in their tax and consulting units. In this Viewsroom podcast, Breakingviews columnists explain how falling valuations of rivals like Accenture as well as questions about the stability of consulting fees will mean these firms may stick together. Listen to the podcastFollow @aimeedonnellan on XSubscribe to Breakingviews’ podcasts, Viewsroom and The Exchange. Editing by Oliver TaslicOur Standards: The Thomson Reuters Trust Principles. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Oliver Taslic Organizations: Reuters, Accenture, Thomson

☆ Alstom cash crunch dents management credibility
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Gonzalo Fuentes Acquire Licensing RightsLONDON, Oct 5 (Reuters Breakingviews) - Alstom (ALSO.PA) CEO Henri Poupart-Lafarge faces an uphill struggle to shore up his credibility. The French train maker lost 35% of its market value – amounting to 3 billion euros - on Thursday after announcing that it would book negative free cash flow of 500 to 750 million euros this year. Finally, weaker than expected orders in the first half of the year generated less cash in the form of down payments. Given the potential for the group’s net debt to be 3 billion euros by year-end, 1 billion euros more than expected, Deutsche Bank analysts reckon it may soon need a capital increase. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Gonzalo Fuentes, Henri Poupart, Pierre Briancon, Aimee Donnellan, Streisand Neto Organizations: Alstom, REUTERS, Reuters, London Underground, Deutsche Bank, X, Sandoz, Brookfield, Temasek, Thomson Locations: Saint, Ouen, Paris, France

☆ Sandoz owners are banking on margin cure
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 4 (Reuters Breakingviews) - Sandoz’s (SDZ.S) investors are giving CEO Richard Saynor the benefit of the doubt. Shares in the generics drug maker, which $217 billion pharma giant Novartis (NOVN.S) has finally managed to spin off, started to trade in Zurich on Wednesday. There was a risk that Novartis investors, who have long called for a sale or spinoff, would quickly dump the new Sandoz shares. At current market prices, Sandoz is worth nearly $11 billion, or $14.4 billion once net debt is added in. For now, Novartis investors seem to believe Sandoz’s treatment may be effective.

Persons: Richard Saynor, Sandoz, Aimee Donnellan, Lisa Jucca, Streisand Neto Organizations: Reuters, Novartis, Sandoz, Hikma Pharmaceuticals, X, Brookfield pounces, Temasek, Thomson Locations: Zurich, That’s

☆ Grocer profit will be sacrificed on UK food altar
▼ + stars: | 2023-10-03 | by ( ) www.reuters.com time to read: +2 min

LONDON, Oct 3 (Reuters Breakingviews) - British shoppers enjoyed a novel experience last month: lower food prices. Admittedly, the fall in the average food basket between August and September was just 0.1%, according to the British Retail Consortium. But it was the first monthly fall in food prices since July 2021 and brought down overall retail inflation to 6.2%, the lowest in a year. That’s good for consumers, especially those who like dairy products, margarine, fish and vegetables – the items that caused the overall fall. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Helen Dickinson, Francesco Guerrera, Aimee Donnellan, Oliver Taslic Organizations: Reuters, British Retail Consortium, Bank of, Grocers, X, Temasek, Thomson Locations: Bank of England

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