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Breakingviews - Breakingviews: Biden gives little, gets less in debt ceiling dealFor President Joe Biden, a debt-ceiling victory comes with a bittersweet taste. The White House and top congressional Republican Kevin McCarthy reached a tentative deal for lifting the government’s borrowing limit on Saturday night. Each party championed the deal as a crucial step toward avoiding a sovereign default. But between broad spending caps and stricter rules for food stamps, Republicans have more to celebrate than their Democratic peers. America and its creditors, generally, have even less to be happy about.
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Breakingviews - Aussie billionaires’ solar spat enters new phaseThe battle between two of Australia’s richest men for control of bankrupt renewables startup Sun Cable has ended in a whimper. On Friday Mike Cannon-Brookes, co-chief of technology company Atlassian, won the auction for the firm via his Grok Ventures fund, bidding less than A$100 million ($65 million) per an estimate by the Australian Financial Review . Surprisingly absent from the final bout was Squadron Energy, one of Fortescue Metals founder Andrew Forrest’s investment companies. Both were early investors in Sun Cable; their spat over its strategy plunged the firm into administration in January.
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Breakingviews - Erdogan win sends stark note on economy and votesTayyip Erdogan’s re-election in Turkey sends a sharp message to leaders around the world: politics is trumping sound economics.
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Breakingviews - Saudi is a BRIC in crumbling East-West money wallMiddle East money is the answer to plugging the growing financial gaps created in Asia by Western investment restrictions, or at least that’s the very wishful thinking of the regions’ financiers and governments.
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Breakingviews - How US allies can mitigate Trump 2.0A return to the White House by Donald Trump would create challenges for the world’s other rich democracies. After all, the former President likes Russia's Vladimir Putin, is sceptical about climate change and favours “Make America Great Again” protectionism. The best insurance policy for remaining members of the Group of Seven wealthy nations is to ramp up support for Ukraine, promote free trade and speed up action on global warming.
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Breakingviews - Syngenta’s IPO is more relief than triumphSyngenta’s $9 billion Chinese market listing finally looks ripe. Concerns about its share sale size forced the Switzerland-based agrichemical giant to opt for a last-minute venue change. Sadly, few foreign investors are likely to join its Shanghai debut party.
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