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Breakingviews - VW’s Europcar takeover would be a rough round trip

Bidding up shares in teetering car-rental companies is meant to be the preserve of credulous day traders. Volkswagen begs to disagree. The $80 billion German automaker is mulling the purchase of fraught Europcar Mobility. Boss Herbert Diess may have in mind using Europcar’s locales to offer ride-sharing. But plummeting rentals and high debt mean bumpy economic returns lie ahead.

Breakingviews - The looming war over working from 凯发真人在线home

As the Covid-19 epidemic began to peak in Asia, Piyush Gupta tried to boost morale for his quarantined workforce. The chief executive of Singaporean bank DBS led his management team through a parody version of Gloria Gaynor’s disco breakup anthem “I Will Survive,” in which they sang off-key praises for their new remote working arrangements. “We grew strong,” one managing director howled into a wooden spoon. “We learned how to work from 凯发真人在线home!” 

Breakingviews - The Exchange: Pehr Gyllenhammar

Long-time Volvo CEO Pehr Gyllenhammar was pushing radical environmental and social changes at the carmaker long before they became fashionable. One of Sweden’s most admired businessmen argues why CEOs should be paid less and how it felt to become a father again at 81.  

Breakingviews - Lufthansa bailout rebel has jobs trump card

German billionaire Heinz Hermann Thiele’s threat to shoot down Deutsche Lufthansa’s 9 billion euro ($10 billion) bailout may not be as suicidal as it sounds. Tipping the ailing airline into bankruptcy would wipe out the 79-year-old brakes tycoon’s 715 million euro investment, but would also humiliate Chancellor Angela Merkel’s administration. There’s a way out that benefits them both.

Breakingviews - Sovereign funds are having their rainy-day moment

Sovereign wealth funds are having their moment. These state-owned outfits come in a dizzying array of shapes and sizes. But they are all mostly considered as “rainy-day” funds for future generations. As the Covid-19 pandemic pushes economies around the world to their limits, these vehicles will play a big role in managing the fallout.

Breakingviews - SEC chair becomes political toy at his own expense

The head of the U.S. Securities and Exchange Commission has accidentally shot himself in the political foot. Jay Clayton’s nomination for a U.S. Attorney role is in trouble amid a fight over the office. Democrats say the ex-corporate lawyer is at risk of becoming President Donald Trump’s pawn in unwanted probes. His ties to Wall Street also hurt. The appointment risks undermining Clayton’s good work.

Breakingviews - Wirecard could prove a nail in BaFin’s coffin

Germany’s financial regulator has received a Wirecard-sized wake up call. The payments company has long faced allegations of fraud, but until recently watchdog BaFin had focused on probing short-sellers and investigative journalists. Wirecard’s ownership of a regulated German bank adds to doubts about financial supervision in Europe’s largest economy.

Breakingviews - Ancient Chinese governance tech stymies SoftBank

SoftBank is finding itself stymied by ancient governance technology. Its Chinese chipmaking venture can’t get rid of its Chairman and Chief Executive Allen Wu because he won’t return the company seal. It’s a common problem in the People’s Republic, but this conflict adds Arm to boss Masayoshi Son’s headaches.

Breakingviews - U.S. racism’s $13 trln legacy is just the start

Around the time the United States formally abolished slavery in 1865, African Americans owned 0.5% of the United States’ wealth. Today they own under 3%, even though around 13% of the population is defined by the U.S. census as “black or African American.” This isn’t an accident of history – it’s a result of government policies and institutional bias. The interest keeps compounding.

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 s.

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