4 Charts, 1 Graf

Fly Charts: Goldman's Looming Shift and Big-Oil Opportunism

From an overdue breakup at Johnson Controls to India's banking bog, here are four charts that tell you what you need to know in business today.

David Solomon, co-president and co-chief operating officer of Goldman Sachs Group Inc., listens during a Bloomberg Television interview at the Goldman Sachs Technology and Internet Conference in San Francisco, California, on Feb. 14, 2018.

Photographer: David Paul Morris

Good morning! This is Fly Charts, the daily charts-only newsletter from Gadfly; sign up here. From an overdue breakup at Johnson Controls to India's banking bog, here are four charts that tell you what you need to know in business today.

Trade-Offs

David Solomon is now heir-apparent at Goldman. That may signal a future with less risk, but quite possibly less reward.

Source: Bloomberg

Data for 2017.

Lackluster Transformation

Johnson Controls is at long last considering a needed spinoff of its capital-intensive battery unit. But such a move is far from a magic cure-all for the company's many issues.

Source: Bloomberg

Big Oil Bets Big

Exxon is planning big investments in ambitious oil projects. But Total's small and opportunistic Libya deal looks like a much better bet.

Source: Company filings and presentations

Note: Data for 2018 onward as per company guidance; Exxon expects capex in 2020 through 2025 to "average somewhere above $30 billion a year".

Submerged Lenders

After a failed bailout, it's even more clear that India's banking system needs a massive privatization drive.

Source: Bloomberg

And don't miss Lionel Laurent on the increasingly bank-like tech sector: "Google offers payments; Apple Inc. invests its cash in company securities; Amazon.com Inc. lends money and offers account balances in-store; Alibaba Group Holding Ltd. manages customer funds like an asset manager. Many seem quite comfortable nibbling at the best bits of finance without actually taking on the burden of being a licensed bank." 

This column does not necessarily reflect the opinion of Bloomberg LP and its owners.

    To contact the author of this story:
    Max Nisen in New York at mnisen@bloomberg.net

    To contact the editor responsible for this story:
    Mark Gongloff at mgongloff1@bloomberg.net

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