Corona Capital: Cash stockpiles, Empty real estate 23 Nov 2020 Concise views on the pandemic’s corporate and financial fallout: U.S. companies hoard money; retailer rout causes real estate double whammy.
Corona Capital: Salvatore Ferragamo 10 Nov 2020 Concise views on the pandemic’s corporate and financial fallout: Faded heels-and-loafers brand Salvatore Ferragamo could benefit from a coronavirus vaccine-induced return to airport shopping, but the Florentine fashion house would still need a makeover.
Corona Capital: Drugmaker’s pick-me-up, Golf M&A 28 Oct 2020 Concise views on the pandemic’s corporate and financial fallout: Drugmaker GSK sees a recovery in vaccinations against old-school ailments; meanwhile Covid-19 turns out to be a handy driver when it comes to golf-related dealmaking.
Corona Capital: NYC 30 Sep 2020 Concise views on the pandemic’s corporate and financial fallout: New York City’s economic reboot comes up against a new outbreak.
Fight for Mumbai airport is cattle-class affair 2 Sep 2020 Tycoon Gautam Adani is taking over India’s second busiest airport. It tramples over a stalled $1 bln deal the seller had with Abu Dhabi’s ADIA and Canada’s PSP. By acquiring debt, Adani is offering a quick out for lenders including Goldman Sachs. But it sets a worrying precedent.
Corona Capital: Zooming through Covid 1 Sep 2020 Concise views on the pandemic’s corporate and financial fallout: Zoom Video Communications, the ubiquitous video-calling outfit, reports another blowout quarter.
Corona Capital: Nvidia, Air conditioners 20 Aug 2020 Concise views on the pandemic’s corporate and financial fallout: Nvidia goes gangbusters, HVAC units have their moment in the sun.
Corona Capital: Vegan eggs, Target’s online fiesta 19 Aug 2020 Concise views on the pandemic’s corporate and financial fallout: A maker of chicken-free egg products accelerates its IPO plans amid Covid-19, while U.S. supermarket group Target shows that preparedness is everything in e-commerce.
Corona Capital: Good news is bad news 16 Jul 2020 Concise views on the pandemic’s corporate and financial fallout: U.S. retail sales are rising and some banks say consumers are surprisingly resilient – but a recovery once glimpsed is even harder to give up.
British Airways jobs cull sends EU bailout Mayday 29 Apr 2020 The airline owned by IAG is axing a quarter of its staff amid the virus fallout, rather than seek state aid. The move highlights the limits of using government funds in the face of wrenching change. It’s ominous for Paris and Berlin, who may dole out $17 bln of taxpayer cash.
Airlines are pure punt on V-shaped virus recovery 5 Mar 2020 The coronavirus has hammered demand for air travel, knocking share prices and pushing UK budget carrier Flybe into bankruptcy. Yet past outbreaks like SARS suggest it will be a blip on air travel’s steady upward trajectory. If that’s the case, stronger airlines will bounce back.
Heathrow ruling reflates sagging UK green stature 27 Feb 2020 Judges have grounded plans for a third runway at Europe’s busiest airport, saying the government ignored obligations to cut CO2 output. As host of a major climate change summit in November, it’s critical Britain has the credibility to push for emissions curbs. This should help.
New-look Ryanair follows familiar flight path 4 Feb 2019 The budget airline will split into four units overseen by CEO Michael O’Leary. The changes, including a replacement for Chairman David Bonderman, look encouraging. But given that O’Leary will remain in charge and large-scale acquisitions are unlikely, they are mostly cosmetic.
Gatwick’s new French pilot has tougher flight path 27 Dec 2018 Construction group Vinci is paying $3.7 bln for a majority stake, days after the London airport grounded flights due to stray drones. The price looks toppy given Gatwick’s already-slick operation and Brexit uncertainties. Seller GIP and its co-investors had a better landing.
Drones prove disruptive capacity – in a bad way 20 Dec 2018 Rogue devices forced London's Gatwick airport to close, grounding flights and stranding thousands of passengers the week before Christmas. Even known risks with new technology - already highlighted by UK aviation authorities - can be hard to manage.
Mexico’s revolutionaries risk spoiling the party 12 Nov 2018 President-elect López Obrador doesn’t take office until next month, but he and his fellow leftists have already upset markets with moves to nix an airport project and rein in bank fees. Such fumbles could help guide Brazil’s far-right populist Jair Bolsonaro as he nears power too.
Europe airlines show strike pain is for passengers 18 Jul 2018 EasyJet expects a 45 pct rise in pre-tax profit in 2018 thanks to more passengers and charges on checked bags. The limited damage that French air controllers’ strikes inflicted on the company and its peers reveals such disruptions are more a problem for customers than carriers.
Expanded Heathrow’s value to rest of UK is hazy 6 Jun 2018 Europe’s busiest airport has tried to placate critics of a third runway by incentivising flights to smaller UK cities. But large airlines will struggle to make these stack up. Unless budget players can do so, the charge that Heathrow only works for London will be hard to refute.
Air India fix would give Modi reform miles 21 Jul 2017 The carrier is a travelling advertisement for India's inefficiencies. It has made losses for nine years and turnaround efforts have failed. A sale may push a multi-billion dollar writedown on lenders, but would validate Prime Minister Modi's reform credentials.
Richmond sharpens up Britain’s Brexit divide 2 Dec 2016 The victory of a pro-EU liberal in a UK local election hints at a potential swing back to the centre. Stronger opposition could keep the government honest as it negotiates Brexit. Yet Richmond is wealthy, and voted strongly to stay in Europe. More clarity doesn't mean more unity.