Mediobanca, Nintendo, Peloton: Catch up with the latest pandemic-related financial insights from Breakingviews here
away from a $1.7 billion deal to buy eNett International and Optal, a pair of British firms focused on travel-related and business-to-business payments. The reason given: a material adverse event because of the pandemic – perhaps the first such claim involving a UK transaction., and invoking material adverse events is one possible way out. But she is up against it.
The problem is that the $57 billion company has a habit of low-balling forecasts. It shifted over 21 million Switches, exceeding the upwardly revised guidance of 19.5 million from January. For 2021, the company is guiding to just 19 million, despite the huge success of “Animal Crossing: New Horizons”, which became the fastest-selling Switch game after its March 20 release. For investors accustomed to Nintendo’s modesty, it will be hard to tell now how seriously to take the Covid-19 risk.
The cut was mathematically inevitable. At the old 15.4 pence per share rate, dividends cost 1.5 billion pounds a year. That compares with about 2 billion pounds of free cash flow, which also covers pension payments to the tune of 800 million pounds or so. By slashing dividends, Jansen has made sure he can invest in fibre broadband – which matters as rivals O2 and Virgin Media bulk up. GlaxoSmithKline isn’t waiting around to see how well Indian consumers hold up.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Breakingviews - Corona Capital: Beyond Meat, Facebook, Natixis(Reuters Breakingviews) - Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.
Read more »
Breakingviews - Corona Capital: BT, Glaxo, Beer, Supermarkets(Reuters Breakingviews) - Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.
Read more »
Breakingviews - Corona Capital: Airbnb, McDonald’s(Reuters Breakingviews) - Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.
Read more »
Corona Capital: Apple bonds, DuPont’s prioritiesConcise views on the pandemic’s corporate and financial fallout: Cash-rich Apple capitalizes on the Fed’s largesse to raise $8.5 billion in cheap debt; DuPont looks past massive demand for PPE materials to a tough second quarter.
Read more »
Corona Capital: Drugs, Jack Ma, Buses, BanksConcise views on the pandemic’s corporate and financial fallout: Novo Nordisk is having a good lockdown, Jack Ma-backed bank lowers rates, National Express raises equity and challenger banks show different Covid-19 scars.
Read more »
Corona Capital: Beyond Meat, Facebook, NatixisConcise views on the pandemic’s corporate and financial fallout: Beyond Meat’s stock burn, Facebook installs an oversight board, Natixis’s bad news-good news situation.
Read more »