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Showing posts from March, 2020

European firms to see value erosion by 1 trn euro as Covid-19 hurts: Report

The top 100 European corporations will see their brand value erode by a whopping 1 trillion euros this year due to the impact of coronavirus pandemic on their revenue as well as profit, says a report. This brand erosion will be mostly felt by airlines, oil & gas, tourism & leisure, restaurants, and retail companies whose businesses are the worst hit, Brand Finance said in a report. However, the automobile sector led mostly by the German companies will be the main winners. Mercedez topped the list of gainers. Hotels, airlines and airports are the worst affected by the pandemic and the impact on them will increase as more and more cities are under lockdowns and governments unveil more measures of social distancing by shutting down public transport, closing borders, the report said. It can be noted that continental Europe has become the nerve centre of the pandemic. Already Italy has overtaken China in the number of deaths by a huge margin and Spain and France are also in the ... ...
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YES Bank to be removed from all BSE and NSE indices from March 20

Crisis-hit Yes Bank will get excluded from all indices of the leading stock exchange BSE with effect from March 20, the entity handling these indices said on Monday. In a circular sent to all its members, the BSE said the BSE S&P Index Committee has decided to remove Yes Bank from all the S&P BSE indices with effect from this Friday, March 20. The decision has been taken in light of the recent developments relating to Yes Bank Limited, in particular the Gazette notification dated March 13, 2020, on 'Yes Bank Limited Reconstruction Scheme, 2020' and the potential impact on the ability of market participants to fully replicate S&P BSE Indices, it added. "Effective at the open of Friday, March 20, 2020, Yes Bank Limited will be removed from all S&P BSE indices," it said. These indices include S&P BSE AllCap, S&P BSE LargeCap, S&P BSE LargeMidCap, S&P BSE Finance, S&P BSE BANKEX, S&P BSE CARBONEX and S&P BSE Private Banks Index ...
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