Vaccine vial maker needs to take IPO shot quickly 22 Jun 2021 Italy’s Stevanato is surfing the pandemic wave to a U.S. listing. Valued alongside high-flying medical-kit supplier West Pharmaceutical, it could be worth over $7 bln. But as the virus recedes, sales may ebb while rivals muscle in on its turf, pricking holes in the price tag.
Capital Calls: GameStop is a SPAC now 22 Jun 2021 Concise views on global finance: The meme-stock video-game retailer has raised more cash, making it look like an overvalued cash shell.
Capital Calls: Netflix, Flackless SPAC 21 Jun 2021 Concise views on global finance: The streaming service strikes an agreement with Steven Spielberg’s Amblin Partners; Helicopter-taxi company Blade’s phony spokesperson speaks poorly to investors.
Review: Pandemic saga suffers from tunnel vision 18 Jun 2021 Michael Lewis explores the weaknesses in America’s response to Covid-19 in “The Premonition”. Exposing missed opportunities can offer lessons for the next outbreak. But by focusing on just one country, he risks repeating the mistakes global leaders made in tackling the virus.
Delta variant may make UK less of a virus outlier 18 Jun 2021 The pandemic hit British GDP more than that of the United States, Germany and France in 2020. An extension of UK restrictions in the face of the so-called Delta variant implies the same could happen this year. But other states are likely to have to impose fresh restrictions too.
Capital Calls: HSBC, MRNA scramble, Cable project 18 Jun 2021 Concise views on global finance: The UK bank’s France sale disappoints; Danaher snaps up Moderna supplier for $9.6 bln; geopolitics sinks internet cable.
CureVac’s pain may not yet have peaked 17 Jun 2021 The German drugmaker’s value halved to $10 bln after it said its Covid-19 vaccine may be only 47% effective. Investors’ concern is that its critical mRNA technology may not work as well. Separate trials on its cancer vaccine will be key to CureVac’s future health.
Capital Calls: Platinum Equity, FTC chair, Tui 16 Jun 2021 Concise views on global finance: The buyout firm acquires textbook company McGraw Hill and the maker of Singer sewing machines; Joe Biden’s pick for the Federal Trade Commission brings swagger; and another capital hike will still leave the German holiday group heavily indebted.
Capital Calls: Corporate America blowback 15 Jun 2021 Concise views on global finance: An investor lawsuit against Trump-era rules on shareholders' proposals is the latest sign of the tables turning.
The Exchange: EU Trade Commissioner Dombrovskis 8 Jun 2021 With vaccination programs catching up with America and Britain, Europe is poised to rebound, the former Latvian premier, who is also responsible for an “Economy that Works for People,” tells Rob Cox in an interview hosted by the European-American Chamber of Commerce New York.
Wall Streeters outpace Europeans back to office 7 Jun 2021 JPMorgan CEO Jamie Dimon wants staff in by summer, and Goldman’s David Solomon called home-working an “aberration”. Deutsche, HSBC and Barclays are taking a laxer approach. Sidewalk-pounding bankers at U.S. firms might win more client facetime, and an even greater share of deals.
Viewsroom: Vaccine carrots and sticks, plus donuts 3 Jun 2021 Governments and companies are dangling incentives for people to get jabbed against Covid-19. But it will take more than free weed, lottery tickets and beer to reach herd immunity, Jeff Goldfarb explains. And Dasha Afanasieva says take the pastries, leave the Krispy Kreme shares.
Vaccine lollipops will give way to bitter medicine 1 Jun 2021 Qantas plans to award frequent flyer miles as Hong Kong waives quarantine for bankers, expanding a list of incentives to get immunised. Tougher tactics like denying the uninoculated entry to venues are also starting. It augurs an ugly divide between the jabbed and the jab-nots.
Capital Calls: Airbus signals liftoff, Bill Gates 27 May 2021 Concise views on global finance: The global aircraft industrial complex got a boost after the European plane maker said it hopes to churn out more of its A320 short-haul workhorses per month than expected; Microsoft founder’s huge private investment vehicle under scrutiny.
UK hospital M&A gives risky fix for future ailment 26 May 2021 Australia’s Ramsay Health Care may buy Spire for 1 bln pounds, creating Britain's largest private operator. It can profit from the Covid-19 recovery, and hedge against government cost-cutting. But for the deal to work, competition authorities will need to be gentle.
Capital Calls: Uber union 26 May 2021 Concise views on global finance: UK union’s success in representing drivers may hit potholes in the United States.
The Exchange: South Africa’s prospects 25 May 2021 Johannesburg Stock Exchange CEO Leila Fourie tells Swaha Pattanaik how South Africa’s economy has coped with Covid-19. In an interview recorded for the International Economic Forum of the Americas, she also flags sectors that will rebound fastest and discusses ESG investing.
Capital Calls: BlackRock/Exxon, Media deals, SPACs 25 May 2021 Concise views on global finance: The giant asset manager will vote for three dissident nominees for Exxon Mobil’s board; boutique adviser LionTree has benefited from a rash of media deals; Lordstown Motors show why blank-check merger projections can’t be relied upon.
Capital Calls: “Friends” reunion, SPACs in D.C. 24 May 2021 Concise views on global finance: AT&T's HBO Max is streaming a delayed 25-year reunion of the popular sitcom cast just as the company ditches its media assets; busybody U.S. Congress is taking a hands-off approach to blank-check firms.
Capital Calls: Bitcoin, Procore 20 May 2021 Concise views on global finance: Getting paid in cryptocurrencies loses allure in U.S. President Joe Biden's tax plan; the $11 bln building software firm is a bargain compared to peers.