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Forbes (March 22)

2020/ 03/ 22 by jd in Global News

“The most unique aspect to this market crisis is the sheer speed of the decline. The S&P 500 has dropped 30% in a month, in the crisis of 2008 a 30% drop from the market’s high took almost a year. If 2008’s decline was a Toyota Camry, this decline is a Ferrari.”

 

Institutional Investor (March 20)

2020/ 03/ 21 by jd in Global News

“The coronavirus pandemic has pushed the world’s economy into a slowdown that may lead to default rates jumping as high as 10 percent in the next twelve months, according to analysts at S&P Global…. The sudden stop in global economic activity, the recent drop in oil prices, and record market volatility are all putting pressure on the creditworthiness of companies.”

 

Foreign Policy (March 18)

2020/ 03/ 21 by jd in Global News

“Sorry, America, the full lockdown is coming. Politicians won’t admit it yet, but it’s time to prepare—physically and psychologically—for a sudden stop to all life outside your home.” As borders shut, it’s time to ask, “Where, and with whom, do you want to spend the next six to 12 weeks of your life, hunkered down for the epidemic duration?”

 

Wall Street Journal (March 18)

2020/ 03/ 20 by jd in Global News

“The coronavirus pandemic is devastating global travel, causing business to evaporate and forcing companies to slash payroll in what’s shaping up to be the biggest test the modern travel industry has ever faced.” Travel bans today’s other issues are different from the financial crisis. They “can’t be overcome with cheaper fares or clever marketing.” Moreover, “the crisis could permanently reshape attitudes toward travel, fundamentally changing the landscape for hotels, airlines and cruise companies, and the millions of smaller businesses that make up the industry.”

 

New York Times (March 17)

2020/ 03/ 20 by jd in Global News

The U.S. economy is shutting down “as pandemic measures take hold. The fast-spreading virus has put an end to movies, date nights and other economic activity, prompting some economists to call a U.S. recession.” By Monday, “it was clear everywhere that most of the American economy was grinding to an unparalleled halt and would remain that way for months.”

 

Washington Examiner (March 17)

2020/ 03/ 19 by jd in Global News

China is expelling all of the American journalists for the New York Times, Washington Post, and Wall Street Journal. “The U.S. should take robust action. President Trump should direct Secretary of State Mike Pompeo to expel the Chinese ambassador…. We must stand up for our most sacred values.”

 

San Francisco Chronicle (March 17)

2020/ 03/ 18 by jd in Global News

“Bay Area shelter orders show need for an unprecedented public effort.” The order covering six counties requires approximately 6.7 million residents to remain at home. “The strictest such action nationwide,” the order is “a testament to the need for aggressive, informed and unified action to counter the rapidly escalating threat of the new coronavirus.”

 

Chicago Tribune (March 17)

2020/ 03/ 17 by jd in Global News

“The world’s largest Starbucks, the Reserve Roastery in Chicago, will close indefinitely Tuesday. The move comes after Illinois Gov. J.B. Pritzker ordered all restaurants and bars across the state to cease dine-in as of Monday at 9 p.m. until the end of March.”

 

South China Morning Post (March 16)

2020/ 03/ 17 by jd in Global News

“Even seasoned pros don’t agree on what to do next as the coronavirus pandemic turns global stock markets into wild roller-coaster rides. What they do agree on is that the scary ride is nowhere near over.”

 

Korea Herald (March 15)

2020/ 03/ 16 by jd in Global News

Despite COVID-19, AGMs will go on in South Korea. “A total of 314 South Korean companies, including Samsung Electronics, Hyundai Motor and SK hynix, will hold shareholders meetings this week.” They are taking special “measures to counter concerns over potential spread of the coronavirus at the meetings.” For example, Samsung has moved the meeting from its headquarters to a convention hall and “asked shareholders to make extensive use of online voting” whereas SK hynix “will increase the distance between shareholders’ seats to 2 meters to minimize physical contact.”

 

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