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Mastercard s India slip is not too badly timed
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Elon Musk is stuck in an alternate past
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Reuters
3 minute read
A man walks in the fruit and vegetables section at a Coles supermarket (main Wesfarmers brand) in Sydney, Australia, February 20, 2018. Picture taken February 20, 2018.
MELBOURNE, July 12 (Reuters Breakingviews) - Wesfarmers (WES.AX) has made a surprise pounce for a chain of pharmacy and beauty stores. At A$687 million ($514 million), the unsolicited offer for Australian Pharmaceuticals Industries (API.AX) equates to barely 1% of the retail, chemicals and energy conglomerateâs market value. But itâs a handy way for Chief Executive Rob Scott to take the M&A temperature of his shareholders.
He has spent much of his four years in charge of Wesfarmers reducing sprawl by spinning off the Coles supermarket chain, selling a coal mine and overhauling brands like Target and Kmart (neither are related to the U.S. outlets). The companyâs enterprise now trades at 14 times forward EBITDA, up from just 9 times three years ago. Debt is lower and the company
Robyn Mak
3 minute read
A cosplayer wears a self-made helmet of a character from the computer game PlayerUnknown s Battlegrounds, a survival-shooter game of South Korean game developer Bluehole Studio Inc., while testing Ubisoft Montreal s Tom Clancy s Rainbow Six Siege, at Gamescom in Cologne, Germany August 23, 2017. REUTERS/Wolfgang Rattay
HONG KONG, July 9 (Reuters Breakingviews) - Krafton (259960.KS) is walking a fine line between being shrewd or too clever by half with its China game. The South Korean video-games developer wants to go public at a $21 billion valuation, buoyed by the popularity of its PlayerUnknown Battlegrounds franchise. Geopolitical tension between Seoul and Beijing has hampered access to its biggest market by sales. Krafton and top backer Tencent (0700.HK) have devised a workaround, but too much depends on it.
Jennifer Hughes
4 minute read
Jan Craps (L), chief executive officer of Budweiser Brewing Company APAC Ltd, attends the listing ceremony of the AB InBev s Asia-Pacific unit at the Hong Kong Stock Exchange in Hong Kong, China, on Monday, Sept. 30, 2019. Zhang Wei/CNS via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. CHINA OUT. - RC16E956B8E0
HONG KONG, July 8 (Reuters Breakingviews) - If one capital market door closes, another one typically opens. Hong Kong Exchanges and Clearing (0388.HK) added 5% to its equity value after Didi Globalâs (DIDI.N) U.S. listing debacle prompted fears that China is making it harder for domestic companies to make their way to New York. Beijingâs plans to crack down on overseas market debuts sound sweeping enough, however, that they will hit the Asian financial hub too.
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