Corona Capital is a column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.
The logo of Mondelez International is pictured at the company's building in Zurich November 14, 2012. REUTERS/Michael BuholzerREAD IT FOR THE PROSPECTUS. Playboy Enterprises has tried plenty of tricks to try to fend off its decline. It started charging for entry to founder Hugh Hefner’s infamous parties more than a decade ago, stopped publishing photos of nude women in 2016 – only to reverse course a year later – and sold to a private-equity firm nine years ago.
The lockdowns are having an effect on food companies’ top lines, too. Those selling cereals and other meal-time products, like General Mills or Campbell Soup, have enjoyed double-digit quarterly sales increases. But growth at snack makers Mondelez and rival Hershey has been much slimmer, in part because of weak international sales and fewer impulse candy purchases.
VOLATILE SEASON. The S&P 500 Index slid more than 2.5% in early trade on Monday. No wonder, with coronavirus cases rising again around the world, the death of U.S. Supreme Court Justice Ruth Bader Ginsburg probably making November’s presidential election even more contentious, bad press for big banks, and various signs that the corporate dealmaking world has lost its collective head.
SIGN OF LIFE. South Korean exports have stumbled back into growth, rising 3.6% year-on-year for the first 20 days of September according to the country’s customs agency – the first such positive reading in six months. The surge was mostly led by demand for semiconductors, up 25%, as well as passenger cars. Notably, exports to the United States and European Union rose 16% and 10% respectively.
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Corona Capital: Playboy, MondelezConcise views on the pandemic’s corporate and financial fallout: The owner of perhaps the most famous adult magazine is hoping a SPAC can give it a new lease on life; Mondelez wants to expand its range of healthy snacks – but they’re not always the best money spinners.
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Corona Capital: Playboy, MondelezConcise views on the pandemic’s corporate and financial fallout: The owner of perhaps the most famous adult magazine is hoping a SPAC can give it a new lease on life; Mondelez wants to expand its range of healthy snacks – but they’re not always the best money spinners.
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