Wall Street is laggard in back-to-work stakes 12 Oct 2020 Downtown Manhattan’s traders make a living by taking risks, but Covid-19 measures are preventing most of them from facing the odds and returning to their desks. Offices are much fuller in China and even Tokyo. “Safety first” may be wise but it spells frustration for some.
Corona Capital: NBA, Polish e-commerce, Tesco 12 Oct 2020 Concise views on the pandemic’s corporate and financial fallout: A major basketball bake-off fails to pull in the online crowds; Poland’s biggest e-commerce company flies from the shelves; and UK grocer Tesco wrestles with supply chain problems.
The madness of crowds is bad for the economy 9 Oct 2020 Tight home-working quarters and monotonous days are adding to job and other worries as Covid-19 drags on. Mental illness isn’t just a problem for therapists. Mental health disorders cost the global economy up to $8.5 trln a year. It's worth employers' while to address the risks.
Corona Capital: Soap, Zalando, Aussie oil 9 Oct 2020 Concise views on the pandemic’s corporate and financial fallout: Vigorous handwashing has helped Henkel’s soaps business, but not enough to offset its other bits; homebound shoppers give Zalando a boost; and Canberra may need to refine its refinery strategy.
Canary Wharf’s Plan B: turn workers into dwellers 9 Oct 2020 Four-fifths of the 120,000 workers usually based in London’s financial hub are at home, and tenants like Morgan Stanley may jump ship. Its owners plan to turn a third of the estate into residential apartments. Even if they can pull it off, there could be bumps in the road.
Viewsroom: Masks, masks everywhere; Tech breakups 8 Oct 2020 The widespread covering of mouths and noses to stifle Covid-19 has spawned a mini-manufacturing boom, with some downsides, Sharon Lam tells Rob Cox. Yet the economic benefits of mask mandates are plentiful, Lisa Jucca argues from Milan. Plus, Congress targets Big Tech bigly.
Corona Capital: Bankers, Virus vices, Student digs 8 Oct 2020 Concise views on the pandemic’s corporate and financial fallout: Japan’s Mizuho tries to get its employees to take it easy; smokers and gamblers struggle to kick the habit during lockdown; UK landlord Unite Group finds even student property is not immune to Covid-19.
Small stuff matters in $2 trln U.S. stimulus talks 7 Oct 2020 President Trump has called off aid talks with Democratic lawmakers who had targeted that huge number. A more modest plan with mutual compromises would have been better than none. Delinquent mortgages are rising, utility bills are going unpaid and household income is falling.
Corona Capital: Tech upgrades, Ruby Tuesday 7 Oct 2020 Concise views on the pandemic’s corporate and financial fallout: Indian IT giant TCS is betting the work-from-home boost to its earnings marks the beginning of a years-long boom; U.S. restaurant chain Ruby Tuesday’s bankruptcy offers a lesson in creative culinary destruction.
UK’s $34 bln virus loss is not as bad as it seems 7 Oct 2020 Bankruptcies and fraud mean taxpayers may take a big hit on a small-firm loans scheme, a spending watchdog said. But estimates vary, and the cost of inaction could have been higher. Crucially, finance minister Rishi Sunak can boost recoveries by eschewing post-crisis austerity.
The Exchange: The long wait for inflation 6 Oct 2020 Charles Goodhart and Manoj Pradhan tackle an issue perplexing policymakers and investors: if, and when, price pressures will rise. The authors of “The Great Demographic Reversal” discuss ageing societies, emerging economies, and why the world won’t follow in Japan’s footsteps.
Corona Capital: Fiscal stimulus, Fitness riches 6 Oct 2020 Concise views on the pandemic’s corporate and financial fallout: Central bankers including the Federal Reserve’s Jerome Powell urge more fiscal help as Covid-19 cases rise again; and the owner of NordicTrack treadmills raises cash at a $7 billion-plus valuation.
Guest view: CEOs learn value of long-term vision 5 Oct 2020 The disruption of the pandemic underscores the importance of planning ahead, write Mark Machin of Canada’s CPP and McKinsey’s Kevin Sneader. Long-term management not only creates more jobs and greater value. It’s also embedded in behaviors that CEOs and board members can learn.
Corona Capital: Donald Trump, Kenzo Takada 5 Oct 2020 Concise views on the pandemic’s corporate and financial fallout: U.S. President Donald Trump’s fight with the coronavirus could lead to a less fiercely contested election result; the death of Japanese designer Kenzo Takada comes at a bad time for the global fashion industry.
Face mask boom has unhealthy side effects 5 Oct 2020 Companies from Chinese carmaker BYD to retailer Gap have cashed in on demand for masks. Entrepreneurs and crooks have also piled in, leading to quality problems and fraud. As panic-buying winds down, dealing with excess capacity and used-mask trash could be a headache.
Trump and China: this time it’s personal 2 Oct 2020 A Covid-19 diagnosis for the U.S. president turns the People’s Republic from a public enemy to a private one. Trump has already compared the pandemic to Pearl Harbor. A scorched earth policy on issues from trade and TikTok to Taiwan and the national debt has become more likely.
Corona Capital: U.S. jobs, Real estate 2 Oct 2020 Concise views on the pandemic’s corporate and financial fallout: Americans slowly get back to work; New York City real estate sales fly to Florida.
Markets lose virus immunity with Trump diagnosis 2 Oct 2020 The U.S. president said he tested positive for Covid-19. How this will affect the outcome of the election is unknown. Ditto whether it spreads further through Trump’s cabinet. The Fed has helped prop up markets so far. Investors are on their own in this uncharted territory.
Airline employees are pawns in U.S. bailout debate 1 Oct 2020 American is going forward with 19,000 job cuts, at least temporarily, as Congress tries to agree on a bailout. Even if the carrier shrinks permanently, many of those jobs should return. That means Washington can justify helping rather than keeping workers in stressful limbo.
Corona Capital: Covid-19 tests, Bed Bath & Beyond 1 Oct 2020 Concise views on the pandemic’s corporate and financial fallout: Diagnostic company Quidel predicts a quarterly earnings bonanza; meanwhile the pandemic turns a struggling retailer into a winner, at least temporarily.