Danone shakeup needs bigger ESG splash 19 Oct 2020 The French dairy group is reviewing assets to restore its flagging growth. Yet disposals covering just 2% of sales look lacklustre. Selling the shrinking water unit would give CEO Emmanuel Faber cash for deals and boost the 37 bln euro company’s appeal with sustainable investors.
Daniel Kretinsky’s grocer grab has sliver of sense 1 Oct 2020 The Czech billionaire has bought $1.5 bln worth of shares in European supermarkets like J Sainsbury and Casino. Anaemic growth and low margins suggest that’s unwise. But if his targets can slash costs and take advantage of an online boom, his bet may begin to look shrewd.
Corona Capital: U.S. sports’ virus-bubble success 29 Sep 2020 Concise views on the pandemic’s corporate and financial fallout: Professional hockey and basketball associations scored victories keeping infection rates low or at zero in spectator-free games. And less traveling and more sleep helped players up their game. Wall Street take note.
New lockdowns will amp up next phase of booze war 21 Sep 2020 Alcohol is in the cross hairs as Britain eyes harsher measures to stem infections. Outright prohibition is unlikely but even temporary bar closures will add to the pain of Diageo, Bud and others. As other countries may follow, their buoyant shares are heading for a hangover.
India Insight: Chai-onomics brews more inequality 21 Sep 2020 Raju has resumed selling tea at his Mumbai roadside stall, but his post-lockdown business is diminished. Covid-19 has accelerated a shift to a more efficient, formal Indian economy. One consequence is that, from street to stock market, the strong are displacing the weak.
Corona Capital: Newspaper rivals, College football 17 Sep 2020 Concise views on the pandemic’s corporate and financial fallout: the Wall Street Journal hits up the New York Times’ printing presses; U.S. college football’s Big Ten makes a comeback.
Corona Capital: Amazon, NYC and Trump 14 Sep 2020 Concise views on the pandemic’s corporate and financial fallout: Amazon’s hiring boom highlights its weakness, and U.S. President Donald Trump could throw New York City a bone.
Corona Capital: Testing, Flights, Football 10 Sep 2020 Concise views on the pandemic’s corporate and financial fallout: U.S. lab-testing group Quest announces speedy growth; IAG’s gloomy horizons have a silver lining; and NFL football comes charging back.
Corona Capital: Bumble IPO, SPACs 2 Sep 2020 Concise views on the pandemic’s corporate and financial fallout: The Blackstone-backed dating site may be eyeing an $8 bln valuation if it goes public next year, more than twice its pre-virus price tag. Ex-MGM exec Harry Sloan adds online gaming to his blank-check company empire.
Corona Capital: Europe’s recovery, Indian selloffs 21 Aug 2020 Concise views on the pandemic’s corporate and financial fallout: The latest economic reports from Britain, France and Germany paint a patchy picture; and why the virus will hinder New Delhi’s asset-sale programme.
Long-shot Dutch exit tax is warning for Unilever 13 Aug 2020 Lawmakers in the Netherlands want to charge the Dove maker an exit fee for unifying its head office in London. The proposal, which would cost Unilever 11 bln euros, may not be legally or politically viable. Still, it’s a reminder that chasing efficiency risks a public backlash.
Corona Capital: “Halo”, Salesforce, Brooks Bros 12 Aug 2020 Concise views on the pandemic’s corporate and financial fallout: Microsoft delays the next chapter of the “Halo” game franchise; Salesforce gets a lockdown bonus with sale of Zoom shares; and Simon Property suits up with a purchase of Brooks Brothers out of bankruptcy.
Corona Capital: U.S. Jobs, Drugs 7 Aug 2020 Concise views on the pandemic’s corporate and financial fallout: More Americans went back to work in July, though it’s a slowdown from June and Washington is still dithering over job relief aid; and President Trump wants to bring pharmaceutical production back home.
Corona Capital: PizzaExpress, Aerospace pain 4 Aug 2020 Concise views on the pandemic’s corporate and financial fallout: The UK restaurant chain’s restructuring is not that tasty a meal for creditors; Airplane-parts maker Spirit’s reliance on Boeing’s 737 MAX has it heading into worse turbulence.
Corona Capital: College mergers, UK property funds 3 Aug 2020 Concise views on the pandemic’s corporate and financial fallout: M&A goes to the University of Arizona; Britain’s financial watchdog considers stopping property fund withdrawals.
AB InBev jumps a very low bar 30 Jul 2020 The $95 bln drinks group reported a smaller-than-expected slump in second-quarter sales. Improved performance in June was down to restocking but the rebound will be slow. While pubs are reopening, coronavirus-wary drinkers aren’t returning in droves. Real cheer is some way off.
Walmart’s UK exit will be priced to sell 24 Jul 2020 The $375 bln retailer is once again trying to flog a stake in its British chain Asda. Convincing an investor to match the $9 bln J Sainsbury offered in 2018 looks fanciful given weak growth, Brexit risks, and the legacy of the pandemic. The main appeal may be a willing seller.
Corona Capital: LatAm pensions, Activism 23 Jul 2020 Concise views on the pandemic’s corporate and financial fallout: Pension reform in Mexico and Chile gets a coronavirus makeover; UK chief executives catch a break during lockdown as the number of activist campaigns collapses.
Coke’s slip raises stakes in battle of bubbles 21 Jul 2020 The sugary drinks maker’s revenue fell 28% in the second quarter, whereas selling snacks helped rival PepsiCo weather Covid-19 lockdowns. Coca-Cola has traditionally been the more highly valued of the two, but the gap is now the lowest in a decade.
Corona Capital: Movies, Basketball, Tech optimism 21 Jul 2020 Concise views on the pandemic’s corporate and financial fallout: Warner Bros’ indefinite delay of its blockbuster movie “Tenet” spells bad news for the industry; healthy players and good social-media stats give the NBA a boost; Silicon Valley shows a hint of pessimism.