How U.S. made Covid-19 tests a profitable disaster 23 Jul 2020 Week-long waits for results jar with soaring share prices of firms that test for the killer virus, like Quest Diagnostics and LabCorp. Detecting Covid-19 can be financially rewarding, yet supply remains woefully short. The debacle shows market forces need a firm guiding hand.
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.
Corona Capital: Uber, Tokyo Olympics 20 Jul 2020 Concise views on the pandemic’s corporate and financial fallout: Uber’s contact-tracing program could help stem Covid-19’s spread and mend relationships with municipalities; and Japan PM Shinzo Abe faces discontent over his handling of both the virus and the postponed Olympics.
Corona Capital: Newspapers, 747s 17 Jul 2020 Concise views on the pandemic’s corporate and financial fallout: Congress may dangle newspapers a lifeline; British Airways brings its fleet of jumbo jets in for a final landing.
Virus binge gives hedgies easy prey in testing M&A 13 Jul 2020 Davidson Kempner wants Thermo Fisher Scientific to up its $11.5 bln bid for peer Qiagen. The German group’s business is improving as governments use its kits to fight the coronavirus. The recent rally in diagnostic stocks, and potential counterbids, mean there is little to lose.
Takeda feeling uncomfortable Shire side effects 13 Jul 2020 The Japanese drugmaker is near a deal that would get it to a $10 bln divestiture target 18 months after buying its Irish rival for $62 bln. Promised cost savings are materialising and debt slowly shrinking. Weak stock performance under boss Christophe Weber suggests he overpaid.
DiaSorin offers rare bright spot in Italian gloom 10 Jul 2020 The $11 bln company’s Covid-19 kits may not be as iconic as Prada bags or Ferrari cars. But they sell like hot cakes in a pandemic. If the virus wanes, so will its tests' appeal. Still, DiaSorin’s biotech focus is a step-up from traditional Made in Italy products.
Biden task force lacks sense of dollars 9 Jul 2020 A wish list from the U.S. presidential candidate’s advisers runs the gamut from universal healthcare and zero emissions to racial equity and infrastructure spending, plus tax increases. Missing is much, if any, clarity on the financial equation. Trillions of dollars are at stake.
Corona Capital: Nursing homes, Airlines, Walgreens 9 Jul 2020 Concise views on the pandemic’s corporate and financial fallout: Nursing home investments will get a rethink; airline travelers get the upper hand; and Walgreens’ LBO heyday is in the past.
Indonesia cautiously crosses central bank rubicon 9 Jul 2020 Bank Indonesia will buy $28 bln of bonds directly from the government, breaking a long-held taboo. It will refund interest gains, and the securities will be tradeable, providing price transparency. That’s about as credible as an emerging market monetary authority can hope to be.
Carlyle hedges Indian link in pharma supply chain 30 Jun 2020 The buyout firm is taking a 20% stake in Ajay Piramal’s contract drugmaker at a healthy $2.8 bln valuation, ahead of a planned carve-out from its lending-focused parent. The division can benefit from a worldwide reshoring push. Short-term concerns explain the fiddly deal terms.
Gilead gives glimpse into feverish drug market 29 Jun 2020 Its Covid-19 treatment will set governments back about $2,300 per course – more than it costs to make but far less than U.S. patients would incur with longer hospital stays. There are many ways to decide the value of a drug. Gilead is, perhaps wisely, being relatively restrained.
Corona Capital: Amazon, Car perks, College sports 29 Jun 2020 Concise views on the pandemic’s corporate and financial fallout: Companies are trying to bolster pocketbooks. Amazon makes extra payments to employees while car companies are offering major discounts. Plus: Under Armour ditches its UCLA deal.
Beijing picks one too many bilateral brawls 29 Jun 2020 China has added India, Canada and Japan to its lengthening list of diplomatic spats. Trade partners are too distracted to coordinate a response, but individual retaliatory measures are adding up. With its economy still weak, Beijing can ill afford to fight on so many fronts.
Vaccine victory would be half cure for economy 25 Jun 2020 Governments have ploughed over $5 bln into efforts to create a barrier against Covid-19. Promising trials raise hopes the virus can be made less lethal. But as even effective vaccines would still allow the disease to spread, they will only allow a partial return to normality.
The looming war over working from home 24 Jun 2020 After decades of false starts in telecommuting, the pandemic has ushered in a real revolution. It’s great for collaborative technology developers, less so for office landlords. The next big clash between labour and capital over the fruits of productivity is also set to kick off.
Corona Capital: SpongeBob, Cirque du Soleil 23 Jun 2020 Concise views on the pandemic’s corporate and financial fallout: Cinema chains raring to reopen may find that movie studios have already made other plans. Meanwhile, Cirque du Soleil may get new financing, but with strings.
Vietnam can build on its good crisis 17 Jun 2020 The Southeast Asian economy checked Covid-19 and is set to be one of the fastest growing economies in the world this year. It’s already a manufacturing dynamo. As global trade slumps, Vietnam looks like a good destination for companies as they shift supply chains out of China.
Perfect storm blows Swire Pacific model away 16 Jun 2020 The Hong Kong conglomerate expects big first-half losses in its property, airline and marine services units. Protests, Covid-19 and weak oil demand have taken their toll. The sprawl wasn’t providing much of an edge before disaster struck, however, and warrants reconsideration.
Corona Capital: Frequent fliers, Folies Bergeres 15 Jun 2020 Concise views on the pandemic’s corporate and financial fallout: United Airlines hocks its MileagePlus loyalty program for $5 bln from Goldman; Lagardere tries selling Parisian nightlife venues, including Les Folies Bergeres and Bataclan theatre at perhaps the worst time ever.