George Hay is an associate editor in Breakingviews’ London office, covering commodities, the Middle East and general financial policy issues. Prior to that he was Breakingviews’ European Financial Editor, and also worked as a correspondent for AFX News and United Business Media. He has an undergraduate degree from Edinburgh University, a Graduate Diploma in Economics from Birkbeck, University of London, and his work has been recognised at the UK’s Business Journalist of the Year Awards.
The virus-led crude price crash is upending petrostates and oil majors alike. Incumbent leaders with storage capacity and low costs might seem to be the winners as smaller competitors flounder. But they’ll fall victim to the longer-term behavioural shifts prompted by Covid-19.
Britain will hike duties on some EU imports if it fails to sign a trade deal with the region. That exerts pressure on Brussels, but would push up UK food prices at a difficult economic juncture. Prime Minister Boris Johnson may balk at hurting voters, and backpedal.
Environmental, social and governance-focused funds outperformed peers in the first quarter, new BlackRock research suggests. Steady inflows are encouraging given the fear investors would ditch ESG in a crisis. But one quarter alone is not enough to judge the sector.