The industry exhorts the government to call out “can pay, won’t pay” retailers, many of them global brands that avoid paying rent despite their cash reserves.More
Airbnb Gets Disrupted. Hosts, “Super-Hosts” Try to Survive. Apartments in Prime Locations Suddenly Flood Rental Market
Big driver behind soaring rents — the “Airbnb effect” that removed countless properties from global cities’ long-term rental markets — reverses.More
Another SoftBank Unicorn Gets in Trouble: “Reverse Factoring” Specialist Greensill
“Its track record of disrupting traditional financing” hit by fallout from client companies that suddenly collapsed under undisclosed debts. Tentacles spread to Credit Suisse.More
Retail Landlords Reel as Big Luxury Brands Threaten to Close Stores if Rents Aren’t Slashed
Luxury retail isn’t what it used to be, from Barcelona to Hong Kong.More
European Banks Reveal Scale & Complexity of Crisis. Shares Hammered Back to 1987 Level
They haven’t gotten over Financial Crisis 1 and the Euro Debt Crisis. Now there’s a new crisis. Deutsche Bank’s CEO going on TV to soothe nerves didn’t help matters.More
Life Under Draconian Lockdown: I Can Barely See the Light at the End of this Long, Dark Tunnel
The process of reopening Spain has been dubbed, rather ominously, “Operation New Normality.”More
Wolf Richter Rails Against Mexican Companies that Borrow in Dollars and then Get Bailed Out When it Blows Up, Which is Now
“I want these f**kers to collapse and their CEOs thrown into a Mexican jail for having borrowed in dollars. I want shareholders and bondholders to pay the price, not the people. Let them eat their dollar-bonds.”More
Supermarket Sales Jumped, Alcohol Sales Spiked 33% & Online Grocery Sales 100%, But “Non-Food” Sales Collapsed
How the Virus Crisis Flipped UK Retail Sales Upside Down.More
Tourism in Southern Europe, Accounting for 13%-21% of GDP, is on its Knees. When Will it Get Back Up Again?
The economies are still incredibly fragile, even eight years after the last crisisMore
Market Mayhem Meets Liquidity Mismatch: “At Least” 76 Mutual Funds in Europe Were “Gated” in March
Due to “the interconnectedness of the financial system” fund gatings can trigger “contagion risk” with “the potential to become a systemic issue”: FitchMore
Nick Corbishley 