Corona Capital: Pools, Dell 28 Aug 2020 Concise views on the pandemic’s corporate and financial fallout: Pool firm’s dive into public markets, Dell’s hardware resilience.
Jay Powell kills inflation-focused central banking 27 Aug 2020 The Fed chief will now accept overshoots above the 2% target that his monetary policy has in any event failed to hit. Instead, the U.S. central bank’s new mission statement targets robust labour markets more aggressively. It's a recipe for ultra-easy policy more of the time.
Tiffany’s business loses even if shareholders win 27 Aug 2020 There’s little doubt the jeweler is no longer worth the $16 bln LVMH agreed to pay last year. Yet Tiffany’s board is duty bound to push for the highest price. That’s good for investors, but not for Tiffany itself. To earn a decent return, LVMH may have to trash an American icon.
Guest view: Crisis demands reformer at WTO helm 27 Aug 2020 Covid-19 has exposed the dangers of connectedness without cooperation, argues Paul Polman, the former Unilever CEO. Recruiting a new director general with strong political skills, and who is unafraid of change, can ensure the WTO helps reverse the world’s inward turn.
Corona Capital: Abbott’s test, Dollar General 27 Aug 2020 Concise views on the pandemic’s corporate and financial fallout: Abbott Laboratories’ new quick and cheap coronavirus test could be a big step forward in America’s recovery; U.S. consumers’ shift from panic-buying to counting pennies will keep discount stores rolling.
Banks’ bad-debt nightmare may have a happy ending 27 Aug 2020 Major lenders in the U.S. and Europe are understandably fretting about dud corporate credit. But, assuming reasonable loan recoveries, they’ve collectively set aside enough to weather a 7% default rate. With money cheap and governments supportive, the cushion looks comfortable.
Corona Capital: Davos delay, Political TV ratings 26 Aug 2020 Concise views on the pandemic’s corporate and financial fallout: The World Economic Forum’s annual winter meeting becomes a summer gathering; and in the U.S., the Democrats’ online spectacle leads TV ratings over the Republicans’ more traditional convention.
Home working will delay not kill office recovery 26 Aug 2020 Some big firms have declared remote working to be new normal. Such fervour is making big city property a buyers’ market, with shorter and cheaper leases and less new construction. But there are still good reasons to work in offices – more spacious ones than in pre-Covid days.
German union will get half its four-day-week wish 26 Aug 2020 IG Metall wants to save jobs by cutting workers’ hours, but without proportional pay cuts. Shorter workweeks make sense for employers, staff and the economy. The per-hour wage hike only suits employees. Dire growth prospects give bosses the upper hand in negotiations.
The Exchange: Telecoms mogul David McCourt 25 Aug 2020 The pandemic has made connecting rural areas a global priority. The Irish-American cable entrepreneur explains to Aimee Donnellan why he returned to Dublin to roll out a 3 billion euro broadband programme, and how the Covid-19 crisis created an opportunity to transform business.
Corona Capital: KFC ditches finger lickin’ 25 Aug 2020 Concise views on the pandemic’s corporate and financial fallout: The Yum Brands’ fast-food chain made eating fried chicken synonymous with cleaning your digits with your mouth. KFC has at last realized that’s a no-no in a pandemic.
Corona Capital: Dividends, Zoom, Big-screen blues 24 Aug 2020 Concise views on the pandemic’s corporate and financial fallout: As company bosses try to conserve cash, investors are feeling the pinch; Zoom has a back-to-school problem; and a mediocre debut for Russell Crowe’s new road-rage movie shows Hollywood is stuck in the slow lane.
Ireland’s Golfgate can reveal a more responsive EU 24 Aug 2020 The Irish public are outraged about an elite golf jolly that flouted Covid-19 restrictions. One minister has resigned and European Commissioner Phil Hogan is under severe pressure. A swift departure would help Brussels look less like a technocratic refuge from popular politics.
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.
U.S. stocks send a mostly mathematical message 20 Aug 2020 Record highs for the S&P 500 Index can co-exist with a weak and unpredictable economy. Sure, businesses are emerging from shutdowns; on the other hand, joblessness remains high. But stock markets arguably just reflect the new distorted reality – one with squashed interest rates.
Alibaba polishes its crown and half-hidden jewels 20 Aug 2020 Quarterly sales at its shopping business rose 34%, in line with rival JD. But the cloud computing unit is growing nearly twice as fast and fintech affiliate Ant is on track for an epic IPO. The pair account for a fifth of Alibaba’s value. Boss Daniel Zhang has plenty to tout.
M&A bedbugs need not stop $17 bln hotel megadeal 20 Aug 2020 Sebastien Bazin, CEO of French group Accor is eyeing a tie-up with Holiday Inn owner InterContinental Hotels, Le Figaro says. A merger would bring savings and scale, but also challenges with governance and integration. The pandemic makes even tricky unions much more likely.
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.
S&P checks in for long stay at Hotel Covid Gloom 19 Aug 2020 The rating agency cut the debt rating of Accor to junk. S&P puts more weight on its forecast of a slow post-pandemic recovery than on the French hotel group’s relatively strong balance sheet and encouraging recent trends. Such a cautious approach comes with its own risks.