Top Wall Street banks are nursing heavy losses after Luckin Coffee said sales figures were fabricated, sending shares down 90% and causing one founder to default on hefty margin loans from sponsors of its New York IPO. Pete Sweeney explains how the len…
Big U.S. banks haven’t followed lenders elsewhere by cutting their sacred dividends – but JPMorgan boss Jamie Dimon suggested on Monday they could. There’s no reason they’d need to, but there’s something to be said for cutting from a position of streng…
Porn, cigarettes, weed and booze are gaining popularity during lockdowns. It makes sense as even the World Health Organisation reckons stress levels need to be managed. But Aimee Donnellan argues that while they may alleviate boredom, they’re storing u…
Activists from Carl Icahn to Elliott Management have been throwing the towel in on their campaigns. But Starboard Value has been going the other direction. They need to tread lightly, says Lauren Silva Laughlin.
Quarantines and fear of contagion in a pandemic have sharply reduced the opportunities to use cash. Meanwhile retailers are pushing digital money as they try to boost online sales. Lisa Jucca explains why payment companies will be long-term lockdown wi…
A U.S. regulator is suing Altria to unwind its 35% stake in e-cigarette startup Juul. The market has already meted out punishment. The Marlboro maker’s $12.8 bln investment is worth two-thirds less. Jennifer Saba explains why it is a notice to others l…
The coronavirus is forcing everyone to adopt different behaviours, some of which may last for some time. Rob Cox predicts how this may affect industries from travel to office property, the role of governments and the way humans interact, have fun and m…
The recent U.S. bailout set a record at $2.2 trln. But there are only two dozen senior Treasury leaders to oversee the aid. Goldman Sachs has 410 partners to manage $1.9 trln in assets. Gina Chon explains why bankers may fill the gap as they did in the…
China’s Meituan Dianping expects a rough first quarter after Covid-19 closed restaurants. With the outlook hazy, the food delivery giant is highlighting its efforts to help alleviate the outbreak’s impact. Alec Macfarlane argues this could pay off in t…
Coronavirus will wreak havoc on the divide between America’s rich and poor, but it’s black households that are particularly at risk. John Foley explains how the virus could exacerbate a wealth and income disparity that has barely improved in 50 years, …