Concise views on the pandemic’s financial fallout from Breakingviews columnists across the globe
LONDON/MUMBAI - .
SoftBank is citing probes into WeWork’s business by the U.S. Securities and Exchange Commission for any potential change of heart, Reuters reported. Perhaps. But the risk for Son’s investors is that he’s strapped for cash amid the scramble for liquid assets. As Breakingviews wrote last year, SoftBank’s sustainable cash flows barely cover interest payments, and its asset values are inflated. The potential for a fire sale is rising.
INSURER MUNICH RE DODGING A BULLET: Munich Re has a surprisingly optimistic view about the threat of the coronavirus on the global economy. Though the 22 billion euro insurer’s shares have nearly halved since the virus hit, its annual report, released this week, suggested greater concern about low euro zone interest rates than the threat of businesses claiming on policies that pay out if they’re forced to close their doors.
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