From Breakingviews: How investing in renewable energy could lead the U.S. out of the coronavirus-induced economic slump
Power-generating windmill turbines are seen during the sunset at a wind park near Moenchhof, Austria May 2, 2019. REUTERS/Leonhard FoegerHELD TO ACCOUNTING. Some Chinese companies may soon find it harder to have their shares traded in America. On Wednesday the U.S. Senate unanimously passed a bill barring them from listing or staying on, say, the New York Stock Exchange unless they comply with American auditing rules.
WIND OF CHANGE. Investing in renewable energy is the way to lead the U.S. economic recovery out of the coronavirus-induced slump. Yes, that’s what every advocate of tackling climate risk argues. But this time the message comes from Richard Trumka, the president of the AFL-CIO, the largest U.S. federation of unions.
DESPERATELY SEEKING STUDENTS. Cambridge is turning to technology to stay open if the shutdown endures. The British university will replace face-to-face lectures for the coming academic year with online courses. Classes can be held for small groups, if social distancing requirements are observed. New York University is trying a similar balancing act, including allowing international students to study at campuses closer to their homes.
The main reason is that Lowe’s former weakness is currently a strength. With housebuilding on hold, consumers are the ones driving growth as they prettify their surroundings. When normality resumes, Lowe’s chief Marvin Ellison will once again be back to playing catch-up. In the meantime, he can enjoy the fact that strange times have given his top line a new lick of paint.
PEDAL TO THE METAL. Covid-19 is finally forcing the French state to act like a regular shareholder. Earlier this month Finance Minister Bruno Le Maire declared that French automakers would have to bring more production back home if they wanted government support. Perhaps Clotilde Delbos, the interim chief executive of Renault, in which the government has a 15% stake, didn’t get the “dirigiste” memo.
POWERED UP. Lenovo, China’s $7 billion maker of personal computers, posted a 64% fall in net profit for its fourth quarter, but still beat estimates. Net cash generated from operating activities was $2.2 billion in the fiscal year, compared to $1.5 billion a year ago, while net debt was reduced by 25% year-on-year.
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