Catch up on the latest financial fallout from the coronavirus, from retail’s warehousing woes to India’s credit lifeline, with Breakingviews latest commentary:
GULF RAINY DAY FUNDS. The decline in assets at sovereign funds such as the Abu Dhabi Investment Authority, Qatar Investment Authority and Kuwait Investment Authority could exceed $300 billion this year, according to Institute of International Finance data cited by Bloomberg. Asset values everywhere are sinking, but sovereign wealth funds are also becoming ATMs for rulers. True, funds in the Middle East have assets exceeding $2 trillion, and cash buffers.
INDIA THROWS LIFE JACKET TO BORROWERS. The Reserve Bank of India is cutting rates faster and by more than expected: a 75 basis point cut brings the main policy rate down to 4.4%. The regulator is also cutting the cash reserve ratio for banks for the first time since 2013 as part of liquidity-easing measures. Bad corporate debts, rickety lenders and a slowing economy meant conditions were already tight before the nation of 1.3 billion went into lockdown.
FASHION SUPPLY. With consumers bored at home, demand for online shopping should rise. But British retailer Next has stopped taking new orders because the warehouse employees needed to fulfill them understandably felt they should be home during the coronavirus lockdown. Next will close its online, warehousing and distribution operations. The country can manage without Next’s affordable fashions. But the shutdown points to the risk of labour shortages impacting more critical sectors.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The Ordinary Corona Hero: YouThe average person can make a bigger difference in an outbreak than you might think. Here's what you personally can do to help.
Read more »
The Knack Say 'Bye Corona' to the Tune of 'My Sharona'
Read more »
'Bye, Corona!' See the Knack's official coronavirus-themed 'My Sharona' parody'Bye, Corona!': Watch the Knack's official coronavirus-themed 'My Sharona' parody. - TODAYshow
Read more »
Hedge fund manager to lead Norway sovereign fund after $124 billion lossNorway's sovereign wealth fund, the world's largest, named a London-ba...
Read more »
Indian stocks see volatile trading after the central bank cuts rates to 'mitigate' coronavirus impactReserve Bank of India met this week and cut the repo rate — or the rate at which it lends to commercial banks — by 75 basis points from 5.15% to 4.4% on Friday.
Read more »
How to pay for the pandemicThe coronavirus crisis will push sovereign-debt burdens into new territory
Read more »