to knock $17.5 billion off its balance sheet. Both have cited the impact of Covid-19 on oil prices, and both are transitioning to low-carbon futures.
Shell’s write-down represents a smaller chunk of its balance sheet, and its hefty dividend cut in April helps preserve cash. Still, the decision looks more driven by the virus than climate change. Though Shell is expecting lower oil prices in the next few years, it has nota long-term assumption of $60 a barrel. Nor has it assumed a $100 a tonne carbon price by 2030.
Pandemic-related factory closures hurt Blue Moon sales in the first quarter. But fabric detergent is experiencing a V-shaped recovery, consultancies Bain and Kantar Worldpanel say in a new report. As production resumes, Blue Moon stands to join in the lather. U.S. cleansing peers Colgate-Palmolive and Clorox trade on a blended 27 times expected earnings, a roughly 20% uplift since February. Assume the rate of growth for Blue Moon’s bottom line slows a bit, to 75%, and on that robust valuation multiple, it could be worth some $6.7 billion. The nine to five grind may become one of the victims of the pandemic. At least, that’s the message from acarried out by Adecco.
Longer weekends are hardly novel. The UK Labour party floated the idea of a four-day working week last year and Finland’s Prime Minister Sanna Marin has vowed to deliver three-day weekends. Big corporations can see the merits.increase in productivity when it gave its 2,300 employees in Japan Fridays off. A New Zealand company, Perpetual Guardian, also found staff surfed the internet less in a similar experiment. With such results, downtime could get a boost.
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