Coronavirus

How Mad Men are waking up to the metaverse

22 Mar 2022

The pandemic sped up the shift to online advertising and e-commerce. In this episode of The Exchange Mark Read, CEO of WPP, tells how his clients coped with Covid-19, why virtual reality is the next big thing for consumer giants, and why corporate purpose is more than a buzzword.

Hong Kong stumbles into pandemic policy pirouette

21 Mar 2022

The city is easing travel restrictions that were accelerating emigration: an acceptance that contradictory policies have ended in failure with infections rampant. If moving out of step with mainland China delays reopening of that critical border, people might keep leaving anyway.

M&A bankers, like cockroaches, survive everything

17 Mar 2022

Two years ago, top consiglieri convened in New Orleans days before global lockdown. The pandemic in the end didn’t dent business. This week’s convention, the first in person since then, comes with the backdrop of war in Europe. Bankers still have ways to keep the deals coming.

U.S. services have better China lockdown defenses

15 Mar 2022

Chinese lockdowns spell new supply disruptions for firms like Apple and higher prices. Surging inflation is already hurting consumers. But services, like restaurants and travel, will be more resilient than during the pandemic, thanks to $2.6 trln of excess household savings.

China’s pandemic playbook runs low on pages

14 Mar 2022

Financial hubs Shanghai and Shenzhen are locking down as infections surge. Recycling tough policies from 2020 will put the “around 5.5%” annual growth target even further out of reach. Living with the virus would be economically stimulating, but politically embarrassing.

China’s parliament can justify new rubber stamp

4 Mar 2022

The week-long annual joint sessions are usually scripted, back-slapping affairs. This year’s agenda might be hurriedly rewritten as Ukraine and Hong Kong’s Covid outbreak disrupt plans. It’s a chance to reset Beijing’s approach to the pandemic, the West and economic challenges.

For China, living with Covid starts in Hong Kong

3 Mar 2022

Beijing may be softening its zero-tolerance stance. A large unvaccinated elderly population and tight hospital capacity remain big risks. But lessons from the global financial hub, now grappling with surging infections, provide a case study for China's eventual reopening.

Capital Calls: Ford’s private equity playbook

2 Mar 2022

Concise views on global finance: The Detroit automaker’s reorganization plan makes explicit the goal of squeezing its traditional car business for cash to fund its electric future.

Besieged Hong Kong fires loud stimulus cannon

24 Feb 2022

As daily Covid-19 infections set new records, Beijing is pressing the city to quickly curb the outbreak. But Hong Kong lacks the systems and ways required to implement China’s strict control model. The city’s $22 bln relief package attempts to balance its conflicting realities.

Canada’s trade risks go beyond bridges to America

23 Feb 2022

Trucker protests paralyzed a key border route, exposing the country’s reliance on its largest trading partner. But Canada also suffers from internal barriers between its provinces and territories. Removing those could boost the economy, if local protectionism can be overcome.

Vaccine tortoises will win marathon, not sprint

15 Feb 2022

GSK, Sanofi and France’s Valneva are launching new Covid-19 jabs just as infections wane. Pfizer and Moderna’s shots also have a huge head start. But as the need for speed recedes, governments will favour cheaper, longer-lasting vaccines born of more familiar science.

Viewsroom: Spotify, Peloton and failed chip deals

10 Feb 2022

Neil Young’s podcast protests have shone a light on a potential flaw in Spotify’s business model, says Liam Proud. Peloton highlights the danger of giving company founders too much voting power, Rob Cyran argues. And semiconductor M&A gives global antitrust regulators agita.

India’s pandemic recovery is in awkward full swing

10 Feb 2022

Cities are bustling and growth is humming along, thanks to a pragmatic approach to managing Covid-19. But bond markets’ rising impatience with the government’s debt hangover underscores a tough trudge back to normality, even for an emerging market with ample external reserves.

CVS tests positive for Covid-related profit

9 Feb 2022

The U.S. health retailer made around $4 bln in extra revenue from providing vaccines and tests in 2021, earning about 10 times its usual profit margin. Most of the gain will pay for a higher dividend. That’s the cost of getting the private sector to deliver a public good.

Why Spotify’s Daniel Ek is sticking with Joe Rogan

7 Feb 2022

The streaming group’s CEO condemned the talk show host’s use of racial slurs but refused to axe him. Ek is betting that financially motivated music labels will resist artist boycotts, and that users are locked in. Rogan represents a podcast pivot that’s key to boosting earnings.

Clorox shrinks in violent profit spin-cycle

4 Feb 2022

The bleach-maker is now worth less than it was before the pandemic. A boost to sales of wipes and bleach is being negated by rising costs, and overzealous production puts Clorox in a worse place than where it started. It won’t be the only one left hanging on the clothesline.

Rogan deal blunts Spotify’s edgy podcast appeal

31 Jan 2022

The streaming service is slapping advisories on its shows after a Joe Rogan Covid-19 misinformation spat. The compromise stops CEO Daniel Ek looking like a censor, and cuts the risk of music subscribers tuning out. But the promise of balance in podcasts may reduce their allure.

Boris Johnson’s fate is an economic sideshow

26 Jan 2022

The partygoing prime minister’s antics have cast doubt over his political future. Past upheaval had far-reaching consequences, particularly for Brexit. But Britain’s direction is now mostly fixed. And a new leader would have to grapple with the same contradictions as Johnson.

Capital Calls: KKR’s e-bike push

24 Jan 2022

Concise views on global finance: The buyout firm leads a 1.6-billion-euro takeover of Dutch bikemaker Accell.

Pandemic darlings now need reinvention

21 Jan 2022

Netflix and Peloton stocks tanked as it became clear lockdown fortunes are changing. Investors may be overreacting to a dose of business reality. Even so, such companies' success has invited copycats, and they’ll have to change to stay ahead.