Bank of China pulls out of a $175 million takeover of Ireland’s Goodbody Stockbrokers and Primark and John Lewis announce they’re passing up state bonuses for retaining furloughed workers. Catch up with the latest financial insights from Breakingviews:
Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights.Ireland’s 140-year-old stockbroker has struck out again. Bank of China has pulled out of a 155 million euro takeover of Goodbody Stockbrokers, citing pandemic-related uncertainties.
As barriers to Chinese investment go up in multiple countries, Goodbody’s pain suggests state enterprises of the People’s Republic are still being picky about what they buy. its share of UK Chancellor Rishi Sunak’s Jobs Retention bonus, which promises companies a payment of 1,000 pounds for each staff member brought back from government-subsidised furloughs. John Lewis is doing the same. The rebuffs are costly.
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