Breakingviews
Union throws wrench in self-driving works
WASHINGTON (Reuters Breakingviews) - The Teamsters are throwing a wrench into the self-driving movement’s works. The union has convinced U.S. lawmakers to exempt commercial trucks from a bill allowing more autonomous vehicles on the roads. Granted, 3.5 million jobs are at stake. But as Tesla joins Daimler and others in the big-rig tech race, it’d be smarter to prepare haulers for a career shift.
UK shows consumers the value of their data
LONDON (Reuters Breakingviews) - If data is the world’s most valuable resource, the people who produce it deserve a cut. A new UK law will hand citizens greater power over their online information. For companies, compliance standards – and fines for breaking the rules – will get steeper. Showing people the value of their digital data increases the possibility that they will seek compensation for it.
India's war on cash had valuable benefits
MUMBAI (Reuters Breakingviews) - Counting anything in a country of India's size is a mammoth exercise. Nine months after Prime Minister Narendra Modi scrapped high-value banknotes in a clampdown on the “black economy”, there is no clarity on how much of the banned $240 billion individuals returned. Still, this has given real momentum to India’s anti-corruption campaign.
Snap's fade could make future IPOs vanish
DALLAS (Reuters Breakingviews) - Snap is haunting the market. The parent of the disappearing-message app reported its second consecutive quarter of disappointing results. Slowing user growth, more losses and fresh fallout from its lousy governance have erased a third of its market value. Others mulling going public may be scared off.
Viewsroom: Diplomatically challenged Trump
NEW YORK (Reuters Breakingviews) - The U.S. president needs Beijing’s help with North Korea even more after his recent warmongering outburst. Yet his administration just slapped petty import tariffs on Chinese aluminum. Also: what a Google engineer’s sexist memo says about the firm, Silicon Valley and society.
SoftBank’s Indian shopping spree gets even spicier
MUMBAI (Reuters Breakingviews) - SoftBank's Indian shopping spree is venture capital with a kick. The Japanese conglomerate's Vision Fund is splashing $2.5 billion on online retailer Flipkart, effectively rendering worthless an earlier near $1 billion punt on rival startup Snapdeal. The investment ranks as the largest private bet on an Indian tech company. But it also shines a light on SoftBank founder Masayoshi Son's big-ticket investment flops.
Charter bid would be a deal too far even for Drahi
LONDON (Reuters Breakingviews) - A takeover of Charter Communications would be a deal too far even for Patrick Drahi. The billionaire’s Altice and its U.S. arm are working on a bid for the $180 billion cable group, according to reports. The hefty price tag and Charter shareholder John Malone’s probable unwillingness to take stock with poor voting rights may scupper that.
Wall Street's resolve overcomes even Pyongyang
NEW YORK (Reuters Breakingviews) - Even the fear of possible Armageddon is no match for Wall Street's greed. U.S. investors already have shrugged off higher interest rates from the Federal Reserve, mounting protectionist tendencies around the world and Washington dysfunction. President Donald Trump’s blunt warning to Pyongyang might have been a fresh reason to rush into gold or gunsmiths. Mr. Market, however, rarely foretells dire happenings.
Netflix losing Disney sounds like an HBO sequel
NEW YORK (Reuters Breakingviews) - Netflix losing Disney sounds like an HBO sequel. The Magic Kingdom is yanking "Cars" and more from the $75 billion streaming service. Time Warner's pay-TV network also once grew so popular that Hollywood studios got scared and started rival options. HBO kept thriving and so will Netflix.
Worldpay wrings ample concessions from Vantiv sale
LONDON (Reuters Breakingviews) - Worldpay has wrung ample concessions from Vantiv. The British payments group on Wednesday clinched a 7.9 billion pound ($10 billion) takeover by its U.S. rival after twice extending a bid deadline. It should be enough to appease unhappy UK investors.
About Breakingviews
Reuters Breakingviews is the world's leading source of agenda-setting financial insight. As the Reuters brand for financial commentary, we dissect the big business and economic stories as they break around the world every day. A global team of about 30 correspondents in New York, London, Hong Kong and other major cities provides expert analysis in real time. Sign up for a free trial of our full service at http://www.breakingviews.com/trial and follow us on Twitter @Breakingviews and at www.breakingviews.com. All opinions expressed are those of the authors.