“There will be a long-term adjustment in how we think about our location strategy…the notion of putting 7,000 people in a building may be a thing of the past”: Barclays CEO. And companies are following through.More
Streets and Plazas in Barcelona Still Eerily Quiet as Covid-Chaos Upends Tourism
“Everybody’s drinking beer as if there were no tomorrow, but my bar can barely survive off beer sales alone,” says Yahya, owner of one of my favorite bars.More
What Happens If Most Businesses & Consumers Tighten Their Belts at the Same Time?
Europe may be about to find out. 128 days with my Mother-in-Law.More
As the Biggest Restaurant Chains in the UK Fall into Bankruptcy, Attention Turns to KKR & Other PE Firms that Own Them
PE firms sit on lots of cash but won’t invest it in their stripped-bare and failing restaurant chains.More
UK House Prices in June Fall for First Time Since 2012, Mortgage Approvals Slump to Record Low Despite Reopening
Still waiting for the “Pent-up Demand.”More
Negative-Interest Rate Champion Bank of France Now Frets About Ballooning Corporate Debt
Central-Bank Forked-Tongue Syndrome.More
Mall Giant Intu Collapses Into Bankruptcy
A zombie well before the pandemic, the UK company had racked up huge debts to finance rapid growth in a sector that had started shrinking some time ago.More
Barcelona’s Epic Tourism Boom Is Over, Now the Crisis Begins: My Walk to the Beach
Owner of a small cafe that specializes in fine cakes and sandwiches tells me: “We’ll be lucky if we get half the normal number in July and August.” It’s now “all about damage control.”More
Massive Credit Losses to Hit European Banks in Q2 and into 2021, Particularly When Debt Moratoriums Are Lifted
But the ECB went into high gear to soothe the pain of the banks.More
Latin-America’s Airlines Are Crashing, But There May Be No Bailouts. Aeromexico Denies Filing for US Bankruptcy
The AMLO government, which has refused to bail out shareholders and bondholders of large companies, could be on to something: A form of capitalism where investors, not taxpayers, carry the risks.More
Nick Corbishley 