Creating value and differentiation
FT Lex Technology
Football and money
Any team that reaches the lofty heights of the final of the world’s most exacting football competition deserves to be there
Facebook: Zucker-punch
A nine-figure valuation on a company that made less than $4bn in sales last year implies stratospheric growth for years
Eurozone: Greek woes
The past five days may be seen as the point when everybody realised that there was a clear path towards a eurozone break-up
Chinese wine
Competition is getting tough in world’s fifth biggest wine market as domestic companies battle foreign brands
JP Morgan reaction: pay clawbacks
If clawbacks are employed, patforwards should be too – and indeed some consultancies do this already
Vedanta: all hat and no rabbit
Upbeat view is that its restructuring – after an acquisition-led, debt-juggling growth phase – suggests company is more alert to concerns
US cable: still working
They face limited competition, have high and stable margins, and spew out cash – yet they are still made light of
Rating agency reform: think again
The suggestion is that information disclosed to the big agencies should be restricted, making it easier for new entrants to compete in the rating business
3i: the travails of private equity
If the new CEO cannot solve the UK private equity group’s problems, liquidation seems desirable
HSBC: losing weight is hard
Praise is due the UK bank for a good start to shedding up to $55bn in risk-weighted assets, but investors should not get ahead of themselves
JC Penney: underwhelming overhaul
The store’s switch from constantly changing promotions to a few stable price tiers appears to have overlooked shoppers’ fondness for the old disorder
Container shipping: boxed in
After a brief rally, the industry’s downturn has resumed with a rash of gloomy updates and shipping lines have slowed their vessels to and from China
Compass: hearty fare
The caterer has produced another generous serving by keeping costs down but needs to keep an eye on Sodexo’s broader offering
Eon: load-shedding
The German utility’s third big disposal relieves it of Open Grid’s high capital spending needs and of another low-return outpost of its empire
Richemont: glittering prizes
With emerging market demand for luxury goods driving sales at home and abroad, the challenge is to maintain the industry’s high earnings momentum
Coty / Avon: slap dash
The end of a limp bid for the struggling cosmetics seller raises the question of which company made itself look worse in the tedious affair
Germany: model citizens
The ability of the economic juggernaut to power ahead and help the eurozone avoid a technical recession has attracted the interest of investors
Chesapeake: in the sights
Like a leak in a petrol station forecourt that has long needed fixing, the chief executive’s role is finally getting the attention it deserves
Japan’s megabanks: travel time
The lenders have ventured overseas before and have suffered but, with their western rivals deleveraging and distracted, another visit might be timely
Bank capital rules: one step at a time
A compromise arrangement that gives European national governments reasonable flexibility amounts to progress, but at a price