Nick Corbishley

Italy Once Again on the Eurozone Worry List

A new tsunami of bad debts washes ashore while banks are still struggling with the debris from the prior tsunami of bad debts.More

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Commercial Real Estate Sellers Expecting Pre-Virus Prices “Are Smoking Dope,” Says UK Fund Manager

Capital values across all segments (retail, office, industrial) already fell by 6.1% over the three months from March to May.More

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Europe’s Fashion Industry Faces Nightmare

“People do not buy a new outfit to stay at home.” Sales at stores that have reopened languish while ecommerce is booming. McKinsey: up to a third of global fashion retailers will not survive the crisis.More

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Tsunami of “Unsustainable” Business Loans to Hit Banks, City of London Grandees Warn

“Consideration may need to be given” to bailouts from taxpayers “to meet solvency or liquidity requirements,” but only “at the extreme end,” whatever that means.More

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The 53 Companies Bailed Out by the Bank of England: Johnson Controls, Carnival, PACCAR, Honda, Toyota, BASF, Bayer…

Foreign Companies welcome. US Tax dodgers that didn’t qualify in the US, no problem.More

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HSBC Embraces China’s Crackdown on Hong Kong, Goes All-In on Asia Pivot

Beijing squeezes, and HSBC knows where it makes most of its money. Standard Chartered, another UK bank, did the same.More

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International Tourist Arrivals & Spending in Tourism-Dependent Spain Collapsed to “Zero” in April. May Likely Similar

It’s not often that “zero” is used in official statistics that are normally counted in millions of people and billions of euros.More

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Automakers’ Finance Divisions Lobby BoE & UK Gov for Bailout. Auto Sales Collapse 97%, Consumers Apply for Payment Holiday

But auto sales had already dropped three years in a row — before Covid.More

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It Starts: The Corporate Mega-Bailout Bonanza in Europe, Germany on Top

Airlines, automakers at the forefront. And it has only just begun. EU waives rules banning state aid. Ryanair, which doesn’t need a bailout, is furious.More

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Student Housing, One of the Most Hyped Asset Classes, Runs Out of Students

Here’s the story of two student housing REITs in the UK that crashed.More

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