Cities exodus will be more fringe than fashion 1 Jun 2020 Covid-19 and its lockdowns have left many urbanites yearning for more space. Technology makes it easier to contemplate working from a hamlet than after past pandemics. But a mass shift to the ‘burbs and beyond requires a lot of investment to overcome a dearth of infrastructure.
Protests may be last straw for U.S. global stature 1 Jun 2020 Unrest over police brutality has spread across America, even as President Trump ditches treaties and condemns China’s crackdown in Hong Kong. Such isolationism and hypocrisy dismays allies. It will be difficult to reclaim the moral high ground, and losing it comes at a high cost.
Civil unrest puts U.S. economy in a vicious circle 29 May 2020 Violence broke out in Minnesota after an African American man died in police custody. Minorities are disproportionately represented in U.S. Covid-19 deaths, and job losses are hitting these groups hard. Unrest may make reopening tough, making the country’s wealth gaps even worse.
Irish eyes keep smiling despite a strict lockdown 29 May 2020 Village pubs are shut until August. The Emerald Isle’s restrictions may look extreme but have kept deaths low even if unemployment has soared to near 30%. Yet with ample supplies and a clear reopening plan, Matt Damon isn’t alone in finding Ireland an ideal pandemic bolthole.
Economic distancing is sad sequel to social kind 27 May 2020 Coronavirus has struck disproportionately as a disease of the poor. The human tragedy has been especially stark in dense, unequal places like New York. As economic distancing sets in, the gap is going to widen further between black and white, urban and suburban, north and south.
Vegan boom is heading for a meat-fuelled bust 26 May 2020 Sales of animal product-free food soared in May, bumping up shares in the likes of Beyond Meat. Viral outbreaks at slaughterhouses suggest vegan supply chains are more durable. But as beef giant Tyson cuts prices and a slump looms, appetite for pricier foods could wane.
Corona Capital: Texas bank merger 26 May 2020 Concise views on the pandemic’s corporate and financial fallout: Texas Capital and Independent Bank ditched their almost $3 bln deal as Covid-19 played havoc with oil-and-gas loans. It is, at least, a mutual decision.
Big Elevator faces a cable-free race to the top 26 May 2020 Social distancing is accelerating the ascent of next-generation lifts from Otis, Thyssen, Kone and Schindler. Powered by magnets, cars will whizz round a circuit like a vertical bullet train rather than shuttling passengers up and down a rope. Eat your heart out, Roald Dahl.
New data will track reopening in real time 21 May 2020 Plenty of financial-market information is available instantaneously, but economic metrics can be months out of date. In the ongoing pandemic, that has proved too slow. Novel sources like Klaviyo's online spending tracker and TomTom's traffic flows may have staying power.
Viewsroom: Reopening after the pandemic 21 May 2020 Major economies like Italy and Switzerland are attempting to return to normal, but with notable differences, as columnists in both countries discuss. And Sharon Lam in Hong Kong talks about the future of leisure and business travel with Global Editor Rob Cox.
Icky cash gets shove towards eventual obsolescence 20 May 2020 Lockdowns and fear of contamination have made banknotes less relevant. Such habits will stick. Although central banks won’t yet call time on cash, misgivings over handing too much power to private payment players mean the stars are aligning for government-backed digital money.
Handshake will be relic of a more trusting time 19 May 2020 Finance will be different after Covid-19, and not just because the disease turned markets and economies upside down. Social shifts that outlast the pandemic – as simple as the reluctance to shake hands – will eat at trust. That’s the last thing a misanthropic Wall Street needs.
Cox: Quarantine in Switzerland is surprise luxury 19 May 2020 As the country reopens, the cliché of neighbours chastising you for not sorting recycling properly is to be praised. The key takeaway: a society that prizes self-responsibility, respects rules and institutions and plans for rainy days is a good place to shelter from the storm.
Viewsroom: Cashing out of BlackRock 14 May 2020 Boss Larry Fink has lost his biggest shareholder, and former owner as U.S. bank PNC sells its 22% stake in the world’s largest money manager. But the exit could be beneficial for both firms. Plus: Sweden’s Covid-19 plan will be hard to replicate. And: online dating in a pandemic.
Hadas: Welfare states will be big Covid-19 winners 13 May 2020 National systems of income support and social care are being expanded in the fight against the pandemic. Some of the special welfare measures are going to become permanent parts of governments’ repertoire. That will benefit marginalised groups, especially in the United States.
Swedish virus outcomes will be hard to copy 12 May 2020 The only Western state not to enforce a lockdown has a higher death rate than Nordic peers but lower than Britain or Italy. Its economy will emerge less scarred. But that’s also because of generous welfare and the fiscal room it’s using to compensate companies for lost sales.
Critical workers hold keys to higher minimum pay 6 May 2020 U.S. ambulance drivers make under $15 per hour, EMTs under $20. And “essential” retail staff make about $13. These and others indispensable in a lockdown and at risk on the Covid-19 front line are under-rewarded. Any post-virus rethink of supply chains must also include wages.
Will casual sex get shafted by the pandemic? 6 May 2020 That’s what dating apps like Tinder, Match and Bumble are trying to answer. Diseases like AIDS changed intimacy patterns before. Covid-19 will make it harder for lovers to swipe right with peace of mind. But more engagement, if fewer hookups, may benefit the matchmaker model.
Virus state aid needs taper to avoid tantrum 5 May 2020 As governments lift restrictions, they face tough choices about weaning companies and workers off public support. Different industries require different timetables. Withdrawals should also be phased. The state can’t help indefinitely, but a sudden break would be too big a shock.
Offices will get roomier when the virus passes 4 May 2020 Conventional wisdom seems to be that after the pandemic commercial landlords will be crushed as staff stay home. But there’s a counterargument that cooped-up workers will crave interaction, employers will need to space them further apart and put an end to unhealthy hot-desking.