Institutional Investor (April 1)
“Traditional asset management firms are expected to lose around a third of their assets under management as a result of the coronavirus pandemic.” Fitch Ratings expects BlackRock to be least scathed, although it is still expected to lose over a quarter of its AUM, while AllianceBernstein is “projected to be the worst hit of the peer group,” losing up to 40.4% of its assets.
Tags: AllianceBernstein, Asset management, AUM, BlackRock, Coronavirus, Fitch Ratings, Pandemic, Traditional
Financial Times (April 1)
“History accelerates in crises. This pandemic may not itself transform the world, but it can accelerate changes already under way. One ongoing change has been in the relationship between China, the rising superpower , and the US, the incumbent.” Although the US has been seen “as a competent and decent leader” while China was not, this perception may change quickly due to the coronavirus.
Tags: Coronavirus
The Guardian (March 26)
“How did Spain get its coronavirus response so wrong? Spain saw what happened in Iran and Italy – and yet it just overtook China’s death toll in one of the darkest moments in recent Spanish history.”
Institutional Investor (March 25)
Due to the “historic buying opportunity,” a few “hedge funds legends” are “quietly contacting investors” These “superstar managers” are “making an exception” and reopening their funds to new investors citing “the massive drop in asset prices catalyzed by the novel coronavirus pandemic.”
Tags: Asset prices, Buying opportunity, Coronavirus, Hedge funds, Historic, Investors, Legends, Reopening
Institutional Investor (March 20)
“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.”
Tags: Analysts, Coronavirus, Default, Economy, Oil prices, Pandemic, S&P, Slowdown, Vlatility
Wall Street Journal (March 18)
“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.”
Tags: Attitudes, Bans, Coronavirus, Crisis, Devastating, Fares, Financial Crisis, Marketing, Pandemic, Payroll, Travel
San Francisco Chronicle (March 17)
“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.”
Tags: Action, Aggressive, Bay Area, Coronavirus, Escalating, Informed, Public effort, Shelter, Strict, Threat, Unified
South China Morning Post (March 16)
“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.”
Tags: Coronavirus, Pandemic, Pros, Roller coaster, Seasoned, Stock markets
Korea Herald (March 15)
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.”
Tags: AGMs, Coronavirus, COVID-19, Distance, Hyundai, Online voting, Physical contact, Samsung, Shareholders, SK hynix, South Korea
Washington Post (March 10)
The lack of candor “is now causing confusion and panic as Trump and his political lieutenants paint a picture of the spreading coronavirus that is utterly at odds with what the nation’s public health experts are saying…. As global markets plunged on Monday and the virus continued its inexorable spread, Trump continued comparing the virus to the ‘common Flu,’ during which ‘nothing is shut down.’”
Tags: Candor, Confusion, Coronavirus, Experts, Flu, Global markets, Panic, Plunged, Public health, Trump, Virus