Turkey has reversed a short-lived ban on foreign banks trading its currency and the move seems to have helped, according to Breakingviews
Closed signs are seen on an AMC Theatre during the outbreak of the coronavirus disease , in New York City, U.S., April 29, 2020. REUTERS/Brendan McDermidA SILVER LINING FOR THE SILVER SCREEN. Amazon.com could be mulling a takeover of AMC Entertainment, according to a May 10 article in the Daily Mail. On Monday shares in the movie-theater chain controlled by China’s Dalian Wanda soared more than 40% at one stage on rather wishful hopes Jeff Bezos is ready to splash out.
CRY ME A LIRA. Turkey has reversed a ban on BNP Paribas, Citigroup and UBS trading the lira having only announced it on Thursday, the same day the currency hit record lows. Regulators are still investigating allegations that the banks’ trading activities and failure to meet their lira liabilities had contributed to the currency’s collapse last week.
MICKEY IS WEARING A MASK. Shanghai Disneyland is “full”. Tickets sold out for the Monday reopening of the theme park. Prospective visitors were undeterred by social-distancing measures in queues and restaurants and the need to brandish an approved health QR code. But Mickey Mouse and friends can only welcome 24,000 people, in keeping with Chinese government requirements to cap attendance at 30%.
PROFIT KNELL. The funeral business should be one of the few beneficiaries of the coronavirus. That’s not the case at Dignity, the UK provider of burial and cremation services, which scrapped its full-year outlook on Monday and said that operating profit had fallen 11% to 19.4 million pounds in the first quarter. The decline was largely due to customers looking for cheap funerals and eschewing luxury add-ons like polished, satin-finished coffins.
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