Travel & Tourism

Corona Capital: Newspaper rivals, College football

17 Sep 2020

Concise views on the pandemic’s corporate and financial fallout: the Wall Street Journal hits up the New York Times’ printing presses; U.S. college football’s Big Ten makes a comeback.

Corona Capital: Fed’s optimism, Package holidays

16 Sep 2020

Concise views on the pandemic’s corporate and financial fallout: Jay Powell and crew at the U.S. central bank reckon the nation’s economy is doing better, just, than they expected; Anglo-German travel company TUI may raise 1 bln euros as the virus whacks new bookings.

Corona Capital: Zooming through Covid

1 Sep 2020

Concise views on the pandemic’s corporate and financial fallout: Zoom Video Communications, the ubiquitous video-calling outfit, reports another blowout quarter.

Corona Capital: Pools, Dell

28 Aug 2020

Concise views on the pandemic’s corporate and financial fallout: Pool firm’s dive into public markets, Dell’s hardware resilience.

Corona Capital: Dividends, Zoom, Big-screen blues

24 Aug 2020

Concise views on the pandemic’s corporate and financial fallout: As company bosses try to conserve cash, investors are feeling the pinch; Zoom has a back-to-school problem; and a mediocre debut for Russell Crowe’s new road-rage movie shows Hollywood is stuck in the slow lane.

M&A bedbugs need not stop $17 bln hotel megadeal

20 Aug 2020

Sebastien Bazin, CEO of French group Accor is eyeing a tie-up with Holiday Inn owner InterContinental Hotels, Le Figaro says. A merger would bring savings and scale, but also challenges with governance and integration. The pandemic makes even tricky unions much more likely.

Corona Capital: Nvidia, Air conditioners

20 Aug 2020

Concise views on the pandemic’s corporate and financial fallout: Nvidia goes gangbusters, HVAC units have their moment in the sun.

Corona Capital: Vegan eggs, Target’s online fiesta

19 Aug 2020

Concise views on the pandemic’s corporate and financial fallout: A maker of chicken-free egg products accelerates its IPO plans amid Covid-19, while U.S. supermarket group Target shows that preparedness is everything in e-commerce.

S&P checks in for long stay at Hotel Covid Gloom

19 Aug 2020

The rating agency cut the debt rating of Accor to junk. S&P puts more weight on its forecast of a slow post-pandemic recovery than on the French hotel group’s relatively strong balance sheet and encouraging recent trends. Such a cautious approach comes with its own risks.

Corona Capital: Champagne, Canada, College chaos

18 Aug 2020

Concise views on the pandemic’s corporate and financial fallout: Champagne growers cut production; Canada’s finance minister quits over stimulus costs; and some American universities are collecting tuition fees before telling students that in-person classes can’t happen.

UK quarantine surprise spoils more than holidays

14 Aug 2020

The British decision to mandate quarantines for people entering from France will sadden vacationers and slow the recovery of French tourism, which makes up 9% of the country’s GDP. It could also depress broader sentiment and increase the UK’s political isolation from Europe.

TUI equity call is probably a matter of when

13 Aug 2020

Anti-Covid-19 restrictions led Europe’s largest holiday operator to a 1.5 bln euro quarterly loss. Expensive German state loans have given boss Friedrich Joussen enough cash to last until next year’s hoped-for rebound. Even if it arrives, high debts make a rights issue likely.

Corona Capital: “Halo”, Salesforce, Brooks Bros

12 Aug 2020

Concise views on the pandemic’s corporate and financial fallout: Microsoft delays the next chapter of the “Halo” game franchise; Salesforce gets a lockdown bonus with sale of Zoom shares; and Simon Property suits up with a purchase of Brooks Brothers out of bankruptcy.

Corona Capital: Junked cans

11 Aug 2020

Concise views on the pandemic’s corporate and financial fallout: An aluminum company with a junk rating issues debt with a ridiculously low interest rate.

IAG’s capital raise buys limited flying time

31 Jul 2020

The British Airways owner is tapping investors for 2.8 billion euros of equity. But the carrier is burning through 800 million euros of cash each month. Unless restrictions in its three biggest markets lift soon, a government bailout may be the only way to avoid a rough landing.

The depth of Boeing’s problems is still sinking in

29 Jul 2020

The $96 bln aviation giant reported another dismal quarter as struggling airlines ordered few planes. The recovery from the 737 MAX grounding and the pandemic are also edging further into the future. The outlook for the plane maker may still be catching up with the grim reality.

Corona Capital: GM, Glaxo, Shopify, Movies, Pemex

29 Jul 2020

Concise views on the pandemic’s corporate and financial fallout: General Motors pulls further ahead; GlaxoSmithKline’s vaccine-order boost; Shopify fills its revenue basket; AMC bows to online streaming’s growing power; Mexico’s oil giant puts on a brave face.

Ctrip invites funds to buy out China’s travel dip

29 Jul 2020

The $16 bln booking giant is mulling going private, Reuters reports. Ctrip has a clean balance sheet, no controlling shareholder, and premiums for delisting Chinese companies in New York have nearly halved. It’s a good target as domestic tourism revives. Funding is the trick.

The Exchange: Airbnb CEO Brian Chesky

28 Jul 2020

The co-founder of the home-sharing firm compared the effects of the pandemic to a torpedo hitting a ship. He discusses how Airbnb raised $2 billion amid the crisis and how Covid-19 has changed travel. It has affected the future of his company, including its options to go public.

Cox: History’s most plagued city can lead the way

28 Jul 2020

Venice has benefitted more than any other place over the centuries from global trade and the movement of people. “La Serenissima” has also withstood pandemics, devoting churches as testaments to each calamity. A plan to remake its business model has merits beyond the lagoon.