Corona Capital: Lockdown losses, Opioids

  • 📰 Breakingviews
  • ⏱ Reading Time:
  • 72 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 51%

Business Business Headlines News

Business Business Latest News,Business Business Headlines

The global lockdown could cost Fitch-rated businesses $5 trln. Plus: Covid-19 exacerbates opioid misuse. Read the latest on Corona Capital:

by Harvard Medical School researchers suggesting the coronavirus was spreading in China as early as August, well before local health workers publicly rang the alarm. The methodology is circumstantial, based on satellite imagery of hospital parking lots in the city of Wuhan, the outbreak’s epicentre, and queries for terms like “diarrhoea” and “cough” on local search engine Baidu. It found uptrends in both kinds of traffic beginning in the late summer of 2019.

It’s hardly conclusive, but the report keeps media spotlight on the bungled first phase of China’s virus response, a subject Beijing would like to move on from. But Harvard’s academic brand is exceptionally strong inside China: the university has banked truckloads of tuition fees from mainland citizens, including President Xi Jinping’s daughter. The institution’s sterling reputation inside Chinese officials’ families means it might get off lightly.

Admittedly, some deals were probably negotiated before the pandemic. But venture capitalists at least had the confidence to finalise them. And with the S&P 500 now flat this year, large pension funds won’t have to rip money away from less frequently valued private investments, like venture capital, to offset losses elsewhere, as they did in the last crisis. Crucially, the report’s authors reckon that just 10% of UK startups will see a “prolonged” impact from the virus.

The $12 billion group has already spent 386 million pounds on property this year and plans to use the cash to invest over 1 billion pounds into buying assets through 2021. Given that demand may increase as retailers emerge from lockdown, this makes sense. But deep-pocketed private-equity group Blackstone has more than $13 billion of dry powder. Upcoming deals won’t come cheap. A pharmacist holds prescription painkiller Hydrocodine Bitartrate and Acetaminopohen, 7.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 470. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Corona Capital: Banks, French aerospace, EurogroupConcise views on the pandemic’s corporate and financial fallout: A new reason for gloom on European lenders; President Emmanuel Macron’s rescue package for the Gallic aerospace industry; and the race to fill a plum European Union job vacancy.
Source: Breakingviews - 🏆 470. / 51 Read more »