Ill-Timed Health-Care Buyouts Bruise KKR and Blackstone
Envision Healthcare and TeamHealth have faced a litany of problems since KKR and Blackstone acquired the physician-staffing companies in 2018 and 2017, respectively. The coronavirus crisis is their latest challenge.
Weakening of Foreign Currencies Opens Up Hedging Options
Alamos Gold Inc. last month decided to take advantage of low currency-exchange rates for the Canadian dollar and Mexican peso against the U.S. dollar. The Canadian gold miner protected more of its currency exposure and extended that cover for a longer period.
Rocket Internet Posts Loss as Expected
Rocket Internet reported a first quarter net loss in line with its May 11 forecast, as market disruption from the coronavirus pandemic hit valuations of companies in its portfolio.
Bank of Korea Cuts Rate to Record Low
South Korea's central bank cut its base rate to a record low on Thursday, adding further stimulus as the coronavirus pandemic threatens to drag growth to its lowest in more than two decades.
RBA's Lowe Less Downbeat on Australian Economy
Reserve Bank of Australia Gov. Philip Lowe told a parliamentary committee on Covid-19 that the economy is now tracking somewhere between the central bank's earlier published central economic scenario and an upside scenario.
Two Chinese Tech Firms Prepare Hong Kong Listings
Two of China's most valuable U.S.-listed companies, NetEase and JD.com, are pushing ahead with multibillion-dollar share sales in Hong Kong as U.S. lawmakers raise pressure on Chinese companies listed in the U.S.
Marathon Partners to Launch Proxy Fight With e.l.f. Beauty
Marathon Partners is planning to nominate three directors to e.l.f. Beauty's board, a rare instance of an activist investor launching a proxy fight since the coronavirus shook American corporations.
Japan Bank's Foray Into Risky U.S. Debt Leaves $3.7 Billion Hole
Norinchukin, which serves Japanese farmers and fishermen, was the biggest buyer of debt used to fund private-equity buyouts. It has taken a $3.7 billion hit and said it would stop investing in that market.
This Isn't Your Father's Corporate-Bond Market
Central banks and tracker funds have upended the way prices are set in the credit market, but the new system could be better for businesses.
The Stock Market and Consumer Sentiment Are Telling Different Stories
Stocks have rebounded dramatically off their March lows, while consumer sentiment is hovering near the lowest level in nearly a decade. The divergence is one of many realities investors are struggling to reconcile.
