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Wall Street Journal (April 5)

2020/ 04/ 06 by jd in Global News

“At least one-quarter of the U.S. economy has suddenly gone idle amid the coronavirus pandemic… an unprecedented shutdown of commerce that economists say has never occurred on such a wide scale.”

 

The Economist (April 4)

2020/ 04/ 06 by jd in Global News

“The unicorn reality check was under way before America declared a national state of emergency over covid-19 on March 13th. Venture capitalists reckoned that a third of American unicorns would thrive, a third would disappoint and a third would be taken over or die.” With the coronavirus acting as an accelerator, we might find out the fate for the 450 or so global unicorns more quickly than expected. “A shake-out looms.”

 

Bloomberg (April 3)

2020/ 04/ 05 by jd in Global News

“The cost of the coronavirus pandemic could be as high as $4.1 trillion, or almost 5% of global gross domestic product, depending on the disease’s spread through Europe, the U.S. and other major economies,” according to the Asian Development Bank.

 

Institutional Investor (April 1)

2020/ 04/ 03 by jd in Global News

“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.

 

Financial Times (April 1)

2020/ 04/ 02 by jd in Global News

“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.

 

The Guardian (March 26)

2020/ 03/ 28 by jd in Global News

“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)

2020/ 03/ 26 by jd in Global News

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.”

 

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.”

 

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.”

 

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.”

 

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