Capital Calls: Digital art 11 Mar 2021 Concise views on global finance in the Covid-19 era: A blockchain-protected work by Beeple sold for $69 million at Christie's.
Capital Calls: Sarkozy’s trial 1 Mar 2021 Concise views on global finance in the Covid-19 era: the former French prime minister’s conviction for trying to bribe a judge creates a new dilemma for the companies on whose board he sits, including hotel chain Accor.
Capital Calls: WeWork, HSBC offices, Wells Fargo 23 Feb 2021 Concise views on global finance in the Covid-19 era: Co-founder Adam Neumann may get a big payment for failure after all; The bank’s plan to shrink its property footprint recalls an earlier effort; And the scandal-plagued lender takes another small step towards rehabilitation.
Capital Calls: Petrobras CEO, Kohl’s 22 Feb 2021 Concise views on global finance in the Covid-19 era: Brazilian President Jair Bolsonaro nominates a former general to replace the oil group's market-friendly boss, tanking the shares; and U.S. department store Kohl’s has some unhappy shareholders.
Capital Calls: Petrobras 19 Feb 2021 Concise views on global finance in the Covid-19 era: Brazil's president becomes Petrobras' activist.
Europe’s airlines may need financial refuelling 12 Feb 2021 Delayed vaccines and mutating virus strains are threatening another peak tourist season, hitting carriers like Lufthansa as well as low-cost rivals such as easyJet. With debt soaring, shareholders, including governments, may need to fork out again. If so, better to beat the rush.
HNA’s final agonies deserve investor study 29 Jan 2021 The indebted Chinese travel group looks set to enter bankruptcy. That’s unusual but unsurprising: Beijing already let a bank go under last year, and allowed market-rattling bond defaults. Given the empire’s complexity and broad creditor base, distributing haircuts could get ugly.
Airlines’ virus parachutes warrant minimal padding 29 Jan 2021 Quarantines could mean carriers like easyJet face further losses over the summer boom months. In extremis, they can flog planes or tap investors for cash, although neither are ideal. Given CO2 emissions and their non-strategic nature, they don’t merit special treatment.
Corona Capital: Vaccines, Dr. Martens 29 Jan 2021 Concise views on the pandemic’s corporate and financial fallout: Quantity matters with vaccines, while Permira gets an extra kick from the bootmaker.
Corona Capital: UK’s quarantine, U.S. prisons 27 Jan 2021 Concise views on the pandemic’s corporate and financial fallout: Britain’s new quarantine rules are weak, but will still hurt the travel industry; and for-profit prisons lose business to the U.S. government.
Corona Capital: Music deals 26 Jan 2021 Concise views on the pandemic’s corporate and financial fallout: Warner Music may take a stake in the music business owned by Saudi Arabian Prince Alwaleed bin Talal.
Corona Capital: Intel, Run on guns 21 Jan 2021 Concise views on the pandemic’s corporate and financial fallout: Intel’s new boss gets closer to his big debut. Meanwhile, gunmakers are riding high on social tensions and pandemic angst, but could soon find they have fewer friends in high places.
Corona Capital: ESG investing, U.S. moves, P&G 20 Jan 2021 Concise views on the pandemic’s corporate and financial fallout: ESG opens up investing opportunities; home values in U.S. resort towns rise faster than rural areas; and Procter & Gamble cleans up.
Hong Kong stays on dangerous roller coaster ride 19 Jan 2021 Troubled Ocean Park is receiving another government lifeline, growing its rescue cost to over $1 bln. That's more than the latest stimulus package, in a further sign of the city’s skewed priorities. Even with a new business model, the park is destined for more downs than ups.
Corona Capital: Indian banks, LBOs, Stellantis 18 Jan 2021 Concise views on the pandemic’s corporate and financial fallout: Indian banking guru Aditya Puri gives reasons to be bullish about New Delhi’s lenders at a Breakingviews predictions event; the ECB cracks down on risky loans; carmaker Stellantis gets a boost from passive funds.
Corona Capital: Inflation, Poshmark 14 Jan 2021 Concise views on the pandemic’s corporate and financial fallout: Breakingviews panel predicts the end of the free-money era; and Poshmark’s IPO looks overdressed.
UK’s duty-free golden goose will become albatross 30 Dec 2020 The government’s plan to end tax rebates for inbound tourists was part of its EU horse-trading. But it’s a needless hit to ailing retailers’ Asian custom. Instead of raising revenue in 2021, it will just become a symbol of the UK’s Brexit-era capacity for reckless self-harm.
Corona Capital: Poverty, Beer cans, Budget hotels 24 Dec 2020 Concise views on the pandemic’s corporate and financial fallout: Hong Kong’s poverty problem was getting worse even before the virus struck; AB InBev sells the family aluminium to cut debt; Whitbread, owner of hotel chain Premier Inn, tries to get its landlords to share the pain.
Hainan luxury license rubs salt in Hong Kong wound 22 Dec 2020 Top marques are betting affluent Chinese tourists will stick around the island province’s new duty-free stores after the pandemic. That shift would probably come at the expense of nearby Hong Kong, long favoured by mainland shoppers. Unfortunately Beijing doesn’t seem to care.
Corona Capital: Private jet deal 17 Dec 2020 Concise views on the pandemic’s corporate and financial fallout: Blackstone bets that plutocrats will be back in the air before the rest of us.