FEW could have predicted the disruption wrought by the coronavirus in 2020. Indeed, when the virus first began to engulf the world last March, nobody was bold enough to forecast how the pandemic was about to become an accelerant for technologies and tech firms around the world.
Crises tend to have a transformative effect on societies. Covid-19 merely helped accelerate changes that were already in the making from the rise and rise of e-commerce platforms such as Amazon.com, grocery delivery services such as DoorDash as well as digital payment platforms such as Square’s Cash App, PayPal’s Venmo and digital or telehealth providers such as Teladoc Health.
China Outbound M&A Seen Driving Rebound in Loans This Year
Bloomberg 1/20/2021 Apple Lam
(Bloomberg) Offshore loans in the Greater China region are expected to climb this year, driven by an increase in mergers and acquisitions, after falling to their lowest level in five years.
The coronavirus pandemic weighed on demand for loans in 2020, with the value of Greater China offshore club and syndicated loans dropping 31% to $96.4 billion from a year earlier. China offshore loans, which traditionally comprise the bulk of Greater China volumes, declined 40% to $45.2 billion.
“I am cautiously optimistic that loan volumes in Greater China will pick up,” said John Corrin, head of corporate finance, international, at Australia & New Zealand Banking Group Ltd. “I expect the increased activity will take a while to emerge, most likely around the beginning of the second quarter.”
U.S. stocks rallied to all-time highs as investors grew optimistic that recent federal spending will revive growth and bolster corporate earnings. Treasuries were little changed while the dollar weakened.
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HONG KONG, Jan 20 (Reuters) - New York-listed Best Inc , a Chinese logistics firm backed by e-commerce giant Alibaba Group Holding Ltd, is considering a sale as part of a strategic review, six people with knowledge of the matter said.
With the endorsement of Alibaba, its biggest shareholder, Best has tapped financial advisers to explore options as its shares have been underperforming and are worth a fifth of its IPO price in 2018, two of the people involved in the discussions said.
Billionaire Jack Ma’s Alibaba, which owns 33% of the firm, as well as Best founder and CEO Johnny Chou, who has a 11% stake on a fully diluted basis, could both end up selling their stakes, five of the people said.