transactions. restructuring. transformation. financial ... · hong kong turkey’s government is...
TRANSCRIPT
GLOBAL INSIGHT
Transactions Restructuring Transformation Financial Engineering
Daily COVID19 Global Economy Newsletter April 20 2020
Overall HICP inflation rate by countries (March 2020) Poland Hungary and Czech Republic with the highest inflation ratesin Europe European Central Bank
What could be bad about falling prices After all everyone wants their paycheck to stretch a little further The problems start when cheaper cars clothes and gadgets keep getting cheaper a damaging downward spiral known as deflation that can wreck an economy In the economic shock triggered by the coronavirus pandemic the fear is that prices around the world could start falling pushing the global economy from recession into something even harder to climb out of Bloomberg
Inflation in Europe amp why deflation is poison for virus-plagued economies
According to Refinitiv LPC some companies are adjusting their numbers to avoid triggering defaults on loans trotting out a new performance metric EBITDAC for earnings before interest tax depreciation amortisation and coronavirus Live Trading News
The coronavirus pandemic showed the first signs of easing in Europe as Italy Spain and France the regionrsquos hardest-hit countries reported the smallest increases in fatalities in weeks and Germany prepared to jump-start commercial life again Bloomberg
New companyperformance metric (EBITDAC) is for real
The curve starts to flatten
FRANCE
UK
GERMANY
France will unveil within two weeks a plan to progressively lift restrictions on travel and business that aim to curb the coronavirus epidemic Prime Minister Edouard Philippe said on Sunday Bloomberg
Fnac Darty has secured a 500 million euro ($544 million) government-guaranteed loan becoming the first large company in France to tap a state aid scheme to help businesses affected by the coronavirus crisis Investingcom
As France grapples with how it will end lockdown measures next month the overseas territory of New Calendonia will from Monday begin lifting confinement measures put in place to curb the spread of coronavirus The archipelago reported 18 cases all imported but no new cases in the last 12 days rfI
Britain needs to be eased out of the coronavirus lockdown in three or four weeks times says a leading Government adviser as ministers refused to set a timetable for an exit strategy Telegraph
Britain and the European Union will restart talks today over their future relationship with time running out to get an agreement after a six-week interruption caused by coronavirus Bloomberg
Germany to reopen stores in first step toward post-virus era Retail spaces of less than 800 square meters (8611 square feet) will be reopening along with car dealerships bike shops and book stores Bars restaurants gyms and larger stores will have to remain closed The government is ldquourgentlyrdquo recommending that everyone wear face masks Bloomberg
Germany has agreed in principle to support struggling carrier Condor with emergency liquidity after the owner of Polandrsquos national airline LOT pulled out of a deal to buy the airline A 380 million euro ($41382 million) state bridging loan that allowed the carrier to be rescued last year is de facto being extended and Germany will offer an additional 200 million in liquidity Reuters
ITALY
SPAIN
Persistently high levels of coronavirus cases in Milan are complicating Prime Minister Giuseppe Contersquos plans to restart the Italian economy Even as growth in new cases nationally has slowed in recent weeks Milan has experienced a late wave becoming the province with the highest number of infected people Conte is preparing to at least partially open the country up starting May 4 but hersquos been under pressure from industrialists and regional politicians in Lombardy the region with Milan as its capital for a quicker return to business as usual Italy reported a slight drop in new coronavirus cases on Friday even as a record number of people were tested though experts warn the virus is not yet in check Bloomberg
The Spanish government is to propose that the European Union create a 15 trillion euro (pound13tn) fund to aid recovery in countries worst-hit by the coronavirus crisis The paper reports that Spainrsquos prime minister Pedro Sanchez plans to make a formal proposal to his EU colleagues during a summit on Thursday The fund proposed by the Spanish government would be financed by perpetual debt raised by the 27-country EU and the cash sent to the different countries would count as transfers and not debt the newspaper said The Guardian
Spainrsquos economy should shrink between 68 and 124 this year depending on whether its lockdown over the coronavirus first imposed in mid-March lasts eight or 12 weeks the Bank of Spain said as it charted various economic scenarios The Spanish central bank said the disruption suffered by the Spanish economy was as in the case of other countries of ldquoconsiderable severityrdquo although there was still great uncertainty Reuters
TURKEY
INDIA
HONG KONG
Turkeyrsquos government is considering a capital injection for state-owned banks so they can prop up businesses hit by the coronavirus pandemic according to people with knowledge of the matter Work on the plan has just begun and itrsquos not yet clear how much funding the lenders will receive should the capitalization go ahead the people said asking not to be identified because the matter is private One option includes the Treasury issuing lira-denominated bonds to fund the program they said Bloomberg
Hong Kongrsquos unemployment rate rose to the highest in more than nine years in the first quarter as the coronavirus dealt a sharp shock to an economy already in recession The seasonally adjusted jobless rate in January-March rose to 42 from 37 in previous three-month period Reuters
While Indian technology outsourcing companies have largely held up better in the coronavirus pandemic than other industries in the nation predicting how they are likely to perform in the future has never been so hard The software service providers count on clients abroad for the bulk of their business and are less reliant on Indiarsquos domestic economy than most other industries The pandemic has clouded the outlook for their growth this year with Wipro Ltd declining to provide forward guidance in its quarterly results for the first time last week Bloomberg
Global market data (as of April 20 2020) Reuters
No merger and acquisition deal worth more than $1 billion was announced worldwide last week according to Refinitiv as the new coronavirus stifles global MampA Worldwide merger activity so far this year is down 33 from a year ago and at $7626 billion is the lowest year-to-date amount for dealmaking since 2013 The number of deals also fell 20 year-on-year Regulators worldwide have toughened rules for foreign investments to protect national assets India last week ruled that investments by an entity from a country that shares a land border with it will require government approval in a move to curb ldquoopportunistic takeoversacquisitionsrdquo Australia and Germany have also stepped up scrutiny over overseas investorsBuyers wait to gauge the true impact of the pandemic dealmakers are seeking other related work on companies needing rescues restructurings and potentially nationalizations as governments and central banks try to shore up their economies Reuters
SECTOR NEWS
TMT
Facebook and Google will be forced to share advertising revenue with Australian media companies after the treasurer Josh Frydenberg instructed the competition watchdog to develop a mandatory code of conduct for the digital giants amid a steep decline in advertising brought on by the coronavirus pandemic In its response to the landmark digital platforms inquiry in December the federal government asked the Australian Competition and Consumer Commission to develop a code between media companies and digital platforms including Google and Facebook The Guardian
MampA
bull TMTAlibaba Group Holding Ltd will invest 200 billion yuan ($28 billion) on cloud infrastructure such as datacenters over the next three years a major effort to extend one of its fastest-growing businesses to more countries That huge outlay underscores the importance of a division Alibaba relies on to spearhead its international expansion The Chinese e-commerce giant now plans to build more datacenters to complement an existing network covering 21 regions globally and support the development of technologies in areas such as AI-inference chips it said in a statement Bloomberg
Digital currency - 20 of people said they donrsquot currently use them but plan to in the next year higher than any other payment method studied in our research a trend that may accelerate as a result of Covid-19 Cryptocom via The Economist Intelligence Unit
Cities have become noticeably quieter with far fewer cars out on the roads And so has dropped the gasoline demand Bloomberg Opinion
Oil extended its slide falling to the lowest in more than two decades on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand Futures in New York fell as much as 21 to below $15 a barrel after also losing almost a fifth of their value last week as the deal by OPEC+ and other producers failed to counter the demand hit from a crippled global economy Bloomberg
Oil amp gas
Automotive
Global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 are forecast to be down 22 percent (more than 650000 units) to 26 million units in the wake of the COVID-19 pandemic according to the most recent analysis from IHS Markit (NYSE INFO) Individual regional forecasts are set to a downtrend and supply chain impacts are being felt as the consequences of the virus have shuttered manufacturing and supplier facilities around the world These forecasts are informed by the latest IHS Markit global economic forecast updates which reflect a 30 percent decline in global real GDP in 2020 IHS Markit
As global tourism collapses so does the orchid industry in top exporter Thailand where the flowers are regarded as a symbol of hospitality Global demand for cut flowers from Thai orchids to Dutch tulips and Kenyan roses has plummeted as businesses and hotels shutter worldwide and consumers stay at home Millions of orchids that used to decorate hotels and restaurants and for celebrations and events are being cut and thrown out every day because they canrsquot find a buyer according to Sompong Thaveesuk vice president of the Thai Orchids Garden Enterprise Association Bloomberg
Consumer goods
AFTER HOURS
Most peculiar ways people are trying to protect themselves from Covid-19 Esquire Bored Panda
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
Todayrsquos Cartoon brought to you by Tom Toro
According to Refinitiv LPC some companies are adjusting their numbers to avoid triggering defaults on loans trotting out a new performance metric EBITDAC for earnings before interest tax depreciation amortisation and coronavirus Live Trading News
The coronavirus pandemic showed the first signs of easing in Europe as Italy Spain and France the regionrsquos hardest-hit countries reported the smallest increases in fatalities in weeks and Germany prepared to jump-start commercial life again Bloomberg
New companyperformance metric (EBITDAC) is for real
The curve starts to flatten
FRANCE
UK
GERMANY
France will unveil within two weeks a plan to progressively lift restrictions on travel and business that aim to curb the coronavirus epidemic Prime Minister Edouard Philippe said on Sunday Bloomberg
Fnac Darty has secured a 500 million euro ($544 million) government-guaranteed loan becoming the first large company in France to tap a state aid scheme to help businesses affected by the coronavirus crisis Investingcom
As France grapples with how it will end lockdown measures next month the overseas territory of New Calendonia will from Monday begin lifting confinement measures put in place to curb the spread of coronavirus The archipelago reported 18 cases all imported but no new cases in the last 12 days rfI
Britain needs to be eased out of the coronavirus lockdown in three or four weeks times says a leading Government adviser as ministers refused to set a timetable for an exit strategy Telegraph
Britain and the European Union will restart talks today over their future relationship with time running out to get an agreement after a six-week interruption caused by coronavirus Bloomberg
Germany to reopen stores in first step toward post-virus era Retail spaces of less than 800 square meters (8611 square feet) will be reopening along with car dealerships bike shops and book stores Bars restaurants gyms and larger stores will have to remain closed The government is ldquourgentlyrdquo recommending that everyone wear face masks Bloomberg
Germany has agreed in principle to support struggling carrier Condor with emergency liquidity after the owner of Polandrsquos national airline LOT pulled out of a deal to buy the airline A 380 million euro ($41382 million) state bridging loan that allowed the carrier to be rescued last year is de facto being extended and Germany will offer an additional 200 million in liquidity Reuters
ITALY
SPAIN
Persistently high levels of coronavirus cases in Milan are complicating Prime Minister Giuseppe Contersquos plans to restart the Italian economy Even as growth in new cases nationally has slowed in recent weeks Milan has experienced a late wave becoming the province with the highest number of infected people Conte is preparing to at least partially open the country up starting May 4 but hersquos been under pressure from industrialists and regional politicians in Lombardy the region with Milan as its capital for a quicker return to business as usual Italy reported a slight drop in new coronavirus cases on Friday even as a record number of people were tested though experts warn the virus is not yet in check Bloomberg
The Spanish government is to propose that the European Union create a 15 trillion euro (pound13tn) fund to aid recovery in countries worst-hit by the coronavirus crisis The paper reports that Spainrsquos prime minister Pedro Sanchez plans to make a formal proposal to his EU colleagues during a summit on Thursday The fund proposed by the Spanish government would be financed by perpetual debt raised by the 27-country EU and the cash sent to the different countries would count as transfers and not debt the newspaper said The Guardian
Spainrsquos economy should shrink between 68 and 124 this year depending on whether its lockdown over the coronavirus first imposed in mid-March lasts eight or 12 weeks the Bank of Spain said as it charted various economic scenarios The Spanish central bank said the disruption suffered by the Spanish economy was as in the case of other countries of ldquoconsiderable severityrdquo although there was still great uncertainty Reuters
TURKEY
INDIA
HONG KONG
Turkeyrsquos government is considering a capital injection for state-owned banks so they can prop up businesses hit by the coronavirus pandemic according to people with knowledge of the matter Work on the plan has just begun and itrsquos not yet clear how much funding the lenders will receive should the capitalization go ahead the people said asking not to be identified because the matter is private One option includes the Treasury issuing lira-denominated bonds to fund the program they said Bloomberg
Hong Kongrsquos unemployment rate rose to the highest in more than nine years in the first quarter as the coronavirus dealt a sharp shock to an economy already in recession The seasonally adjusted jobless rate in January-March rose to 42 from 37 in previous three-month period Reuters
While Indian technology outsourcing companies have largely held up better in the coronavirus pandemic than other industries in the nation predicting how they are likely to perform in the future has never been so hard The software service providers count on clients abroad for the bulk of their business and are less reliant on Indiarsquos domestic economy than most other industries The pandemic has clouded the outlook for their growth this year with Wipro Ltd declining to provide forward guidance in its quarterly results for the first time last week Bloomberg
Global market data (as of April 20 2020) Reuters
No merger and acquisition deal worth more than $1 billion was announced worldwide last week according to Refinitiv as the new coronavirus stifles global MampA Worldwide merger activity so far this year is down 33 from a year ago and at $7626 billion is the lowest year-to-date amount for dealmaking since 2013 The number of deals also fell 20 year-on-year Regulators worldwide have toughened rules for foreign investments to protect national assets India last week ruled that investments by an entity from a country that shares a land border with it will require government approval in a move to curb ldquoopportunistic takeoversacquisitionsrdquo Australia and Germany have also stepped up scrutiny over overseas investorsBuyers wait to gauge the true impact of the pandemic dealmakers are seeking other related work on companies needing rescues restructurings and potentially nationalizations as governments and central banks try to shore up their economies Reuters
SECTOR NEWS
TMT
Facebook and Google will be forced to share advertising revenue with Australian media companies after the treasurer Josh Frydenberg instructed the competition watchdog to develop a mandatory code of conduct for the digital giants amid a steep decline in advertising brought on by the coronavirus pandemic In its response to the landmark digital platforms inquiry in December the federal government asked the Australian Competition and Consumer Commission to develop a code between media companies and digital platforms including Google and Facebook The Guardian
MampA
bull TMTAlibaba Group Holding Ltd will invest 200 billion yuan ($28 billion) on cloud infrastructure such as datacenters over the next three years a major effort to extend one of its fastest-growing businesses to more countries That huge outlay underscores the importance of a division Alibaba relies on to spearhead its international expansion The Chinese e-commerce giant now plans to build more datacenters to complement an existing network covering 21 regions globally and support the development of technologies in areas such as AI-inference chips it said in a statement Bloomberg
Digital currency - 20 of people said they donrsquot currently use them but plan to in the next year higher than any other payment method studied in our research a trend that may accelerate as a result of Covid-19 Cryptocom via The Economist Intelligence Unit
Cities have become noticeably quieter with far fewer cars out on the roads And so has dropped the gasoline demand Bloomberg Opinion
Oil extended its slide falling to the lowest in more than two decades on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand Futures in New York fell as much as 21 to below $15 a barrel after also losing almost a fifth of their value last week as the deal by OPEC+ and other producers failed to counter the demand hit from a crippled global economy Bloomberg
Oil amp gas
Automotive
Global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 are forecast to be down 22 percent (more than 650000 units) to 26 million units in the wake of the COVID-19 pandemic according to the most recent analysis from IHS Markit (NYSE INFO) Individual regional forecasts are set to a downtrend and supply chain impacts are being felt as the consequences of the virus have shuttered manufacturing and supplier facilities around the world These forecasts are informed by the latest IHS Markit global economic forecast updates which reflect a 30 percent decline in global real GDP in 2020 IHS Markit
As global tourism collapses so does the orchid industry in top exporter Thailand where the flowers are regarded as a symbol of hospitality Global demand for cut flowers from Thai orchids to Dutch tulips and Kenyan roses has plummeted as businesses and hotels shutter worldwide and consumers stay at home Millions of orchids that used to decorate hotels and restaurants and for celebrations and events are being cut and thrown out every day because they canrsquot find a buyer according to Sompong Thaveesuk vice president of the Thai Orchids Garden Enterprise Association Bloomberg
Consumer goods
AFTER HOURS
Most peculiar ways people are trying to protect themselves from Covid-19 Esquire Bored Panda
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
Todayrsquos Cartoon brought to you by Tom Toro
FRANCE
UK
GERMANY
France will unveil within two weeks a plan to progressively lift restrictions on travel and business that aim to curb the coronavirus epidemic Prime Minister Edouard Philippe said on Sunday Bloomberg
Fnac Darty has secured a 500 million euro ($544 million) government-guaranteed loan becoming the first large company in France to tap a state aid scheme to help businesses affected by the coronavirus crisis Investingcom
As France grapples with how it will end lockdown measures next month the overseas territory of New Calendonia will from Monday begin lifting confinement measures put in place to curb the spread of coronavirus The archipelago reported 18 cases all imported but no new cases in the last 12 days rfI
Britain needs to be eased out of the coronavirus lockdown in three or four weeks times says a leading Government adviser as ministers refused to set a timetable for an exit strategy Telegraph
Britain and the European Union will restart talks today over their future relationship with time running out to get an agreement after a six-week interruption caused by coronavirus Bloomberg
Germany to reopen stores in first step toward post-virus era Retail spaces of less than 800 square meters (8611 square feet) will be reopening along with car dealerships bike shops and book stores Bars restaurants gyms and larger stores will have to remain closed The government is ldquourgentlyrdquo recommending that everyone wear face masks Bloomberg
Germany has agreed in principle to support struggling carrier Condor with emergency liquidity after the owner of Polandrsquos national airline LOT pulled out of a deal to buy the airline A 380 million euro ($41382 million) state bridging loan that allowed the carrier to be rescued last year is de facto being extended and Germany will offer an additional 200 million in liquidity Reuters
ITALY
SPAIN
Persistently high levels of coronavirus cases in Milan are complicating Prime Minister Giuseppe Contersquos plans to restart the Italian economy Even as growth in new cases nationally has slowed in recent weeks Milan has experienced a late wave becoming the province with the highest number of infected people Conte is preparing to at least partially open the country up starting May 4 but hersquos been under pressure from industrialists and regional politicians in Lombardy the region with Milan as its capital for a quicker return to business as usual Italy reported a slight drop in new coronavirus cases on Friday even as a record number of people were tested though experts warn the virus is not yet in check Bloomberg
The Spanish government is to propose that the European Union create a 15 trillion euro (pound13tn) fund to aid recovery in countries worst-hit by the coronavirus crisis The paper reports that Spainrsquos prime minister Pedro Sanchez plans to make a formal proposal to his EU colleagues during a summit on Thursday The fund proposed by the Spanish government would be financed by perpetual debt raised by the 27-country EU and the cash sent to the different countries would count as transfers and not debt the newspaper said The Guardian
Spainrsquos economy should shrink between 68 and 124 this year depending on whether its lockdown over the coronavirus first imposed in mid-March lasts eight or 12 weeks the Bank of Spain said as it charted various economic scenarios The Spanish central bank said the disruption suffered by the Spanish economy was as in the case of other countries of ldquoconsiderable severityrdquo although there was still great uncertainty Reuters
TURKEY
INDIA
HONG KONG
Turkeyrsquos government is considering a capital injection for state-owned banks so they can prop up businesses hit by the coronavirus pandemic according to people with knowledge of the matter Work on the plan has just begun and itrsquos not yet clear how much funding the lenders will receive should the capitalization go ahead the people said asking not to be identified because the matter is private One option includes the Treasury issuing lira-denominated bonds to fund the program they said Bloomberg
Hong Kongrsquos unemployment rate rose to the highest in more than nine years in the first quarter as the coronavirus dealt a sharp shock to an economy already in recession The seasonally adjusted jobless rate in January-March rose to 42 from 37 in previous three-month period Reuters
While Indian technology outsourcing companies have largely held up better in the coronavirus pandemic than other industries in the nation predicting how they are likely to perform in the future has never been so hard The software service providers count on clients abroad for the bulk of their business and are less reliant on Indiarsquos domestic economy than most other industries The pandemic has clouded the outlook for their growth this year with Wipro Ltd declining to provide forward guidance in its quarterly results for the first time last week Bloomberg
Global market data (as of April 20 2020) Reuters
No merger and acquisition deal worth more than $1 billion was announced worldwide last week according to Refinitiv as the new coronavirus stifles global MampA Worldwide merger activity so far this year is down 33 from a year ago and at $7626 billion is the lowest year-to-date amount for dealmaking since 2013 The number of deals also fell 20 year-on-year Regulators worldwide have toughened rules for foreign investments to protect national assets India last week ruled that investments by an entity from a country that shares a land border with it will require government approval in a move to curb ldquoopportunistic takeoversacquisitionsrdquo Australia and Germany have also stepped up scrutiny over overseas investorsBuyers wait to gauge the true impact of the pandemic dealmakers are seeking other related work on companies needing rescues restructurings and potentially nationalizations as governments and central banks try to shore up their economies Reuters
SECTOR NEWS
TMT
Facebook and Google will be forced to share advertising revenue with Australian media companies after the treasurer Josh Frydenberg instructed the competition watchdog to develop a mandatory code of conduct for the digital giants amid a steep decline in advertising brought on by the coronavirus pandemic In its response to the landmark digital platforms inquiry in December the federal government asked the Australian Competition and Consumer Commission to develop a code between media companies and digital platforms including Google and Facebook The Guardian
MampA
bull TMTAlibaba Group Holding Ltd will invest 200 billion yuan ($28 billion) on cloud infrastructure such as datacenters over the next three years a major effort to extend one of its fastest-growing businesses to more countries That huge outlay underscores the importance of a division Alibaba relies on to spearhead its international expansion The Chinese e-commerce giant now plans to build more datacenters to complement an existing network covering 21 regions globally and support the development of technologies in areas such as AI-inference chips it said in a statement Bloomberg
Digital currency - 20 of people said they donrsquot currently use them but plan to in the next year higher than any other payment method studied in our research a trend that may accelerate as a result of Covid-19 Cryptocom via The Economist Intelligence Unit
Cities have become noticeably quieter with far fewer cars out on the roads And so has dropped the gasoline demand Bloomberg Opinion
Oil extended its slide falling to the lowest in more than two decades on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand Futures in New York fell as much as 21 to below $15 a barrel after also losing almost a fifth of their value last week as the deal by OPEC+ and other producers failed to counter the demand hit from a crippled global economy Bloomberg
Oil amp gas
Automotive
Global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 are forecast to be down 22 percent (more than 650000 units) to 26 million units in the wake of the COVID-19 pandemic according to the most recent analysis from IHS Markit (NYSE INFO) Individual regional forecasts are set to a downtrend and supply chain impacts are being felt as the consequences of the virus have shuttered manufacturing and supplier facilities around the world These forecasts are informed by the latest IHS Markit global economic forecast updates which reflect a 30 percent decline in global real GDP in 2020 IHS Markit
As global tourism collapses so does the orchid industry in top exporter Thailand where the flowers are regarded as a symbol of hospitality Global demand for cut flowers from Thai orchids to Dutch tulips and Kenyan roses has plummeted as businesses and hotels shutter worldwide and consumers stay at home Millions of orchids that used to decorate hotels and restaurants and for celebrations and events are being cut and thrown out every day because they canrsquot find a buyer according to Sompong Thaveesuk vice president of the Thai Orchids Garden Enterprise Association Bloomberg
Consumer goods
AFTER HOURS
Most peculiar ways people are trying to protect themselves from Covid-19 Esquire Bored Panda
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
Todayrsquos Cartoon brought to you by Tom Toro
ITALY
SPAIN
Persistently high levels of coronavirus cases in Milan are complicating Prime Minister Giuseppe Contersquos plans to restart the Italian economy Even as growth in new cases nationally has slowed in recent weeks Milan has experienced a late wave becoming the province with the highest number of infected people Conte is preparing to at least partially open the country up starting May 4 but hersquos been under pressure from industrialists and regional politicians in Lombardy the region with Milan as its capital for a quicker return to business as usual Italy reported a slight drop in new coronavirus cases on Friday even as a record number of people were tested though experts warn the virus is not yet in check Bloomberg
The Spanish government is to propose that the European Union create a 15 trillion euro (pound13tn) fund to aid recovery in countries worst-hit by the coronavirus crisis The paper reports that Spainrsquos prime minister Pedro Sanchez plans to make a formal proposal to his EU colleagues during a summit on Thursday The fund proposed by the Spanish government would be financed by perpetual debt raised by the 27-country EU and the cash sent to the different countries would count as transfers and not debt the newspaper said The Guardian
Spainrsquos economy should shrink between 68 and 124 this year depending on whether its lockdown over the coronavirus first imposed in mid-March lasts eight or 12 weeks the Bank of Spain said as it charted various economic scenarios The Spanish central bank said the disruption suffered by the Spanish economy was as in the case of other countries of ldquoconsiderable severityrdquo although there was still great uncertainty Reuters
TURKEY
INDIA
HONG KONG
Turkeyrsquos government is considering a capital injection for state-owned banks so they can prop up businesses hit by the coronavirus pandemic according to people with knowledge of the matter Work on the plan has just begun and itrsquos not yet clear how much funding the lenders will receive should the capitalization go ahead the people said asking not to be identified because the matter is private One option includes the Treasury issuing lira-denominated bonds to fund the program they said Bloomberg
Hong Kongrsquos unemployment rate rose to the highest in more than nine years in the first quarter as the coronavirus dealt a sharp shock to an economy already in recession The seasonally adjusted jobless rate in January-March rose to 42 from 37 in previous three-month period Reuters
While Indian technology outsourcing companies have largely held up better in the coronavirus pandemic than other industries in the nation predicting how they are likely to perform in the future has never been so hard The software service providers count on clients abroad for the bulk of their business and are less reliant on Indiarsquos domestic economy than most other industries The pandemic has clouded the outlook for their growth this year with Wipro Ltd declining to provide forward guidance in its quarterly results for the first time last week Bloomberg
Global market data (as of April 20 2020) Reuters
No merger and acquisition deal worth more than $1 billion was announced worldwide last week according to Refinitiv as the new coronavirus stifles global MampA Worldwide merger activity so far this year is down 33 from a year ago and at $7626 billion is the lowest year-to-date amount for dealmaking since 2013 The number of deals also fell 20 year-on-year Regulators worldwide have toughened rules for foreign investments to protect national assets India last week ruled that investments by an entity from a country that shares a land border with it will require government approval in a move to curb ldquoopportunistic takeoversacquisitionsrdquo Australia and Germany have also stepped up scrutiny over overseas investorsBuyers wait to gauge the true impact of the pandemic dealmakers are seeking other related work on companies needing rescues restructurings and potentially nationalizations as governments and central banks try to shore up their economies Reuters
SECTOR NEWS
TMT
Facebook and Google will be forced to share advertising revenue with Australian media companies after the treasurer Josh Frydenberg instructed the competition watchdog to develop a mandatory code of conduct for the digital giants amid a steep decline in advertising brought on by the coronavirus pandemic In its response to the landmark digital platforms inquiry in December the federal government asked the Australian Competition and Consumer Commission to develop a code between media companies and digital platforms including Google and Facebook The Guardian
MampA
bull TMTAlibaba Group Holding Ltd will invest 200 billion yuan ($28 billion) on cloud infrastructure such as datacenters over the next three years a major effort to extend one of its fastest-growing businesses to more countries That huge outlay underscores the importance of a division Alibaba relies on to spearhead its international expansion The Chinese e-commerce giant now plans to build more datacenters to complement an existing network covering 21 regions globally and support the development of technologies in areas such as AI-inference chips it said in a statement Bloomberg
Digital currency - 20 of people said they donrsquot currently use them but plan to in the next year higher than any other payment method studied in our research a trend that may accelerate as a result of Covid-19 Cryptocom via The Economist Intelligence Unit
Cities have become noticeably quieter with far fewer cars out on the roads And so has dropped the gasoline demand Bloomberg Opinion
Oil extended its slide falling to the lowest in more than two decades on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand Futures in New York fell as much as 21 to below $15 a barrel after also losing almost a fifth of their value last week as the deal by OPEC+ and other producers failed to counter the demand hit from a crippled global economy Bloomberg
Oil amp gas
Automotive
Global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 are forecast to be down 22 percent (more than 650000 units) to 26 million units in the wake of the COVID-19 pandemic according to the most recent analysis from IHS Markit (NYSE INFO) Individual regional forecasts are set to a downtrend and supply chain impacts are being felt as the consequences of the virus have shuttered manufacturing and supplier facilities around the world These forecasts are informed by the latest IHS Markit global economic forecast updates which reflect a 30 percent decline in global real GDP in 2020 IHS Markit
As global tourism collapses so does the orchid industry in top exporter Thailand where the flowers are regarded as a symbol of hospitality Global demand for cut flowers from Thai orchids to Dutch tulips and Kenyan roses has plummeted as businesses and hotels shutter worldwide and consumers stay at home Millions of orchids that used to decorate hotels and restaurants and for celebrations and events are being cut and thrown out every day because they canrsquot find a buyer according to Sompong Thaveesuk vice president of the Thai Orchids Garden Enterprise Association Bloomberg
Consumer goods
AFTER HOURS
Most peculiar ways people are trying to protect themselves from Covid-19 Esquire Bored Panda
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
Todayrsquos Cartoon brought to you by Tom Toro
TURKEY
INDIA
HONG KONG
Turkeyrsquos government is considering a capital injection for state-owned banks so they can prop up businesses hit by the coronavirus pandemic according to people with knowledge of the matter Work on the plan has just begun and itrsquos not yet clear how much funding the lenders will receive should the capitalization go ahead the people said asking not to be identified because the matter is private One option includes the Treasury issuing lira-denominated bonds to fund the program they said Bloomberg
Hong Kongrsquos unemployment rate rose to the highest in more than nine years in the first quarter as the coronavirus dealt a sharp shock to an economy already in recession The seasonally adjusted jobless rate in January-March rose to 42 from 37 in previous three-month period Reuters
While Indian technology outsourcing companies have largely held up better in the coronavirus pandemic than other industries in the nation predicting how they are likely to perform in the future has never been so hard The software service providers count on clients abroad for the bulk of their business and are less reliant on Indiarsquos domestic economy than most other industries The pandemic has clouded the outlook for their growth this year with Wipro Ltd declining to provide forward guidance in its quarterly results for the first time last week Bloomberg
Global market data (as of April 20 2020) Reuters
No merger and acquisition deal worth more than $1 billion was announced worldwide last week according to Refinitiv as the new coronavirus stifles global MampA Worldwide merger activity so far this year is down 33 from a year ago and at $7626 billion is the lowest year-to-date amount for dealmaking since 2013 The number of deals also fell 20 year-on-year Regulators worldwide have toughened rules for foreign investments to protect national assets India last week ruled that investments by an entity from a country that shares a land border with it will require government approval in a move to curb ldquoopportunistic takeoversacquisitionsrdquo Australia and Germany have also stepped up scrutiny over overseas investorsBuyers wait to gauge the true impact of the pandemic dealmakers are seeking other related work on companies needing rescues restructurings and potentially nationalizations as governments and central banks try to shore up their economies Reuters
SECTOR NEWS
TMT
Facebook and Google will be forced to share advertising revenue with Australian media companies after the treasurer Josh Frydenberg instructed the competition watchdog to develop a mandatory code of conduct for the digital giants amid a steep decline in advertising brought on by the coronavirus pandemic In its response to the landmark digital platforms inquiry in December the federal government asked the Australian Competition and Consumer Commission to develop a code between media companies and digital platforms including Google and Facebook The Guardian
MampA
bull TMTAlibaba Group Holding Ltd will invest 200 billion yuan ($28 billion) on cloud infrastructure such as datacenters over the next three years a major effort to extend one of its fastest-growing businesses to more countries That huge outlay underscores the importance of a division Alibaba relies on to spearhead its international expansion The Chinese e-commerce giant now plans to build more datacenters to complement an existing network covering 21 regions globally and support the development of technologies in areas such as AI-inference chips it said in a statement Bloomberg
Digital currency - 20 of people said they donrsquot currently use them but plan to in the next year higher than any other payment method studied in our research a trend that may accelerate as a result of Covid-19 Cryptocom via The Economist Intelligence Unit
Cities have become noticeably quieter with far fewer cars out on the roads And so has dropped the gasoline demand Bloomberg Opinion
Oil extended its slide falling to the lowest in more than two decades on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand Futures in New York fell as much as 21 to below $15 a barrel after also losing almost a fifth of their value last week as the deal by OPEC+ and other producers failed to counter the demand hit from a crippled global economy Bloomberg
Oil amp gas
Automotive
Global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 are forecast to be down 22 percent (more than 650000 units) to 26 million units in the wake of the COVID-19 pandemic according to the most recent analysis from IHS Markit (NYSE INFO) Individual regional forecasts are set to a downtrend and supply chain impacts are being felt as the consequences of the virus have shuttered manufacturing and supplier facilities around the world These forecasts are informed by the latest IHS Markit global economic forecast updates which reflect a 30 percent decline in global real GDP in 2020 IHS Markit
As global tourism collapses so does the orchid industry in top exporter Thailand where the flowers are regarded as a symbol of hospitality Global demand for cut flowers from Thai orchids to Dutch tulips and Kenyan roses has plummeted as businesses and hotels shutter worldwide and consumers stay at home Millions of orchids that used to decorate hotels and restaurants and for celebrations and events are being cut and thrown out every day because they canrsquot find a buyer according to Sompong Thaveesuk vice president of the Thai Orchids Garden Enterprise Association Bloomberg
Consumer goods
AFTER HOURS
Most peculiar ways people are trying to protect themselves from Covid-19 Esquire Bored Panda
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
Todayrsquos Cartoon brought to you by Tom Toro
Global market data (as of April 20 2020) Reuters
No merger and acquisition deal worth more than $1 billion was announced worldwide last week according to Refinitiv as the new coronavirus stifles global MampA Worldwide merger activity so far this year is down 33 from a year ago and at $7626 billion is the lowest year-to-date amount for dealmaking since 2013 The number of deals also fell 20 year-on-year Regulators worldwide have toughened rules for foreign investments to protect national assets India last week ruled that investments by an entity from a country that shares a land border with it will require government approval in a move to curb ldquoopportunistic takeoversacquisitionsrdquo Australia and Germany have also stepped up scrutiny over overseas investorsBuyers wait to gauge the true impact of the pandemic dealmakers are seeking other related work on companies needing rescues restructurings and potentially nationalizations as governments and central banks try to shore up their economies Reuters
SECTOR NEWS
TMT
Facebook and Google will be forced to share advertising revenue with Australian media companies after the treasurer Josh Frydenberg instructed the competition watchdog to develop a mandatory code of conduct for the digital giants amid a steep decline in advertising brought on by the coronavirus pandemic In its response to the landmark digital platforms inquiry in December the federal government asked the Australian Competition and Consumer Commission to develop a code between media companies and digital platforms including Google and Facebook The Guardian
MampA
bull TMTAlibaba Group Holding Ltd will invest 200 billion yuan ($28 billion) on cloud infrastructure such as datacenters over the next three years a major effort to extend one of its fastest-growing businesses to more countries That huge outlay underscores the importance of a division Alibaba relies on to spearhead its international expansion The Chinese e-commerce giant now plans to build more datacenters to complement an existing network covering 21 regions globally and support the development of technologies in areas such as AI-inference chips it said in a statement Bloomberg
Digital currency - 20 of people said they donrsquot currently use them but plan to in the next year higher than any other payment method studied in our research a trend that may accelerate as a result of Covid-19 Cryptocom via The Economist Intelligence Unit
Cities have become noticeably quieter with far fewer cars out on the roads And so has dropped the gasoline demand Bloomberg Opinion
Oil extended its slide falling to the lowest in more than two decades on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand Futures in New York fell as much as 21 to below $15 a barrel after also losing almost a fifth of their value last week as the deal by OPEC+ and other producers failed to counter the demand hit from a crippled global economy Bloomberg
Oil amp gas
Automotive
Global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 are forecast to be down 22 percent (more than 650000 units) to 26 million units in the wake of the COVID-19 pandemic according to the most recent analysis from IHS Markit (NYSE INFO) Individual regional forecasts are set to a downtrend and supply chain impacts are being felt as the consequences of the virus have shuttered manufacturing and supplier facilities around the world These forecasts are informed by the latest IHS Markit global economic forecast updates which reflect a 30 percent decline in global real GDP in 2020 IHS Markit
As global tourism collapses so does the orchid industry in top exporter Thailand where the flowers are regarded as a symbol of hospitality Global demand for cut flowers from Thai orchids to Dutch tulips and Kenyan roses has plummeted as businesses and hotels shutter worldwide and consumers stay at home Millions of orchids that used to decorate hotels and restaurants and for celebrations and events are being cut and thrown out every day because they canrsquot find a buyer according to Sompong Thaveesuk vice president of the Thai Orchids Garden Enterprise Association Bloomberg
Consumer goods
AFTER HOURS
Most peculiar ways people are trying to protect themselves from Covid-19 Esquire Bored Panda
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
Todayrsquos Cartoon brought to you by Tom Toro
bull TMTAlibaba Group Holding Ltd will invest 200 billion yuan ($28 billion) on cloud infrastructure such as datacenters over the next three years a major effort to extend one of its fastest-growing businesses to more countries That huge outlay underscores the importance of a division Alibaba relies on to spearhead its international expansion The Chinese e-commerce giant now plans to build more datacenters to complement an existing network covering 21 regions globally and support the development of technologies in areas such as AI-inference chips it said in a statement Bloomberg
Digital currency - 20 of people said they donrsquot currently use them but plan to in the next year higher than any other payment method studied in our research a trend that may accelerate as a result of Covid-19 Cryptocom via The Economist Intelligence Unit
Cities have become noticeably quieter with far fewer cars out on the roads And so has dropped the gasoline demand Bloomberg Opinion
Oil extended its slide falling to the lowest in more than two decades on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand Futures in New York fell as much as 21 to below $15 a barrel after also losing almost a fifth of their value last week as the deal by OPEC+ and other producers failed to counter the demand hit from a crippled global economy Bloomberg
Oil amp gas
Automotive
Global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 are forecast to be down 22 percent (more than 650000 units) to 26 million units in the wake of the COVID-19 pandemic according to the most recent analysis from IHS Markit (NYSE INFO) Individual regional forecasts are set to a downtrend and supply chain impacts are being felt as the consequences of the virus have shuttered manufacturing and supplier facilities around the world These forecasts are informed by the latest IHS Markit global economic forecast updates which reflect a 30 percent decline in global real GDP in 2020 IHS Markit
As global tourism collapses so does the orchid industry in top exporter Thailand where the flowers are regarded as a symbol of hospitality Global demand for cut flowers from Thai orchids to Dutch tulips and Kenyan roses has plummeted as businesses and hotels shutter worldwide and consumers stay at home Millions of orchids that used to decorate hotels and restaurants and for celebrations and events are being cut and thrown out every day because they canrsquot find a buyer according to Sompong Thaveesuk vice president of the Thai Orchids Garden Enterprise Association Bloomberg
Consumer goods
AFTER HOURS
Most peculiar ways people are trying to protect themselves from Covid-19 Esquire Bored Panda
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
Todayrsquos Cartoon brought to you by Tom Toro
Cities have become noticeably quieter with far fewer cars out on the roads And so has dropped the gasoline demand Bloomberg Opinion
Oil extended its slide falling to the lowest in more than two decades on concern the world is rapidly running out of places to store crude after output cuts proved insufficient to cope with plunging demand Futures in New York fell as much as 21 to below $15 a barrel after also losing almost a fifth of their value last week as the deal by OPEC+ and other producers failed to counter the demand hit from a crippled global economy Bloomberg
Oil amp gas
Automotive
Global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 are forecast to be down 22 percent (more than 650000 units) to 26 million units in the wake of the COVID-19 pandemic according to the most recent analysis from IHS Markit (NYSE INFO) Individual regional forecasts are set to a downtrend and supply chain impacts are being felt as the consequences of the virus have shuttered manufacturing and supplier facilities around the world These forecasts are informed by the latest IHS Markit global economic forecast updates which reflect a 30 percent decline in global real GDP in 2020 IHS Markit
As global tourism collapses so does the orchid industry in top exporter Thailand where the flowers are regarded as a symbol of hospitality Global demand for cut flowers from Thai orchids to Dutch tulips and Kenyan roses has plummeted as businesses and hotels shutter worldwide and consumers stay at home Millions of orchids that used to decorate hotels and restaurants and for celebrations and events are being cut and thrown out every day because they canrsquot find a buyer according to Sompong Thaveesuk vice president of the Thai Orchids Garden Enterprise Association Bloomberg
Consumer goods
AFTER HOURS
Most peculiar ways people are trying to protect themselves from Covid-19 Esquire Bored Panda
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
Todayrsquos Cartoon brought to you by Tom Toro
Automotive
Global commercial vehicle production (GVW 4-8) volumes in 2020 compared to 2019 are forecast to be down 22 percent (more than 650000 units) to 26 million units in the wake of the COVID-19 pandemic according to the most recent analysis from IHS Markit (NYSE INFO) Individual regional forecasts are set to a downtrend and supply chain impacts are being felt as the consequences of the virus have shuttered manufacturing and supplier facilities around the world These forecasts are informed by the latest IHS Markit global economic forecast updates which reflect a 30 percent decline in global real GDP in 2020 IHS Markit
As global tourism collapses so does the orchid industry in top exporter Thailand where the flowers are regarded as a symbol of hospitality Global demand for cut flowers from Thai orchids to Dutch tulips and Kenyan roses has plummeted as businesses and hotels shutter worldwide and consumers stay at home Millions of orchids that used to decorate hotels and restaurants and for celebrations and events are being cut and thrown out every day because they canrsquot find a buyer according to Sompong Thaveesuk vice president of the Thai Orchids Garden Enterprise Association Bloomberg
Consumer goods
AFTER HOURS
Most peculiar ways people are trying to protect themselves from Covid-19 Esquire Bored Panda
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
Todayrsquos Cartoon brought to you by Tom Toro
AFTER HOURS
Most peculiar ways people are trying to protect themselves from Covid-19 Esquire Bored Panda
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
Todayrsquos Cartoon brought to you by Tom Toro
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
UNITED KINGDOM | FRANCE | GERMANY | BELGIUM | NETHERLANDS | iTALY | SPAIN | POLAND | RUSSIA | INDIA
About Eight International
Eight International is a global advisory organization founded in 2016 by six consultancies sharing the same values A globally integrated teamof over 70 leaders and over 600 professionals seamlessly advises corporate clients businesses private equity funds and leading investmentbanks to help navigate challenges across transactions restructuring and operational transformation Eight International brings innovativesolutions in a broad array of industries through its three key pillars Reactivity via its nimble business model Quality of its experiencedpractitioners and Independence given no conflicts of interest
Todayrsquos Cartoon brought to you by Tom Toro