Corona Capital is a column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.
The north view of the Manhattan skyline is seen from the 86th floor observation deck of the Empire State Building in midtown Manhattan, as the iconic tower prepares to open to more tenants and visitors following the outbreak of the coronavirus disease in New York City, New York, U.S., June 24, 2020. REUTERS/Mike SegarADRENALINE SPIKE.
CORPORATE AMERICA HEARTS NEW YORK. Nineteen years ago, the Sept. 11 attacks brought New York to its knees. The city bounced back, but Covid-19 may prove to have a much longer impact. That’s why more than 150 prominent business leaders including Goldman Sachs’ David Solomon and Warby Parker’s Neil Blumenthal are sounding the alarm in a letter to Mayor Bill de Blasio warning of “widespread anxiety over public safety, cleanliness and other quality of life issues.
KNORR OFF A BIT MORE. German billionaire Heinz Hermann Thiele is cashing in a few more chips. The 70% shareholder of 18 billion euro brakes maker Knorr-Bremse is selling another 6% of his stake, sending the company’s shares down 8% on Friday. Eyebrows will be raised, since previous stake sales helped finance a hike in his holding in Covid-hit domestic airline Deutsche Lufthansa, reflecting his reservations about a state bailout.
FURLOUGHNOMICS. Britain may ditch plans to kill off its job lifeline. Boris Johnson’s government is under pressure to extend a scheme, which covers 80% of the salary costs of furloughed staff, and supported more than 9 million Britons at its peak. A group of cross-party politicians said on Friday that the prime minister should consider offering targeted support instead of culling the programme next month.
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