Catch up on the latest financial fallout from the coronavirus, from an AMS rights issue wipeout to Pirelli’s allure, with Breakingviews latest commentary:
The Logo of Austrian sensor specialist AMS is seen on their factory in Unterpremstaetten, Austria October 3, 2019.AMS RIGHTS ISSUE WIPEOUT. Investment bankers have got used to making money from healthy companies’ rights issues without taking any real risk. Austrian sensor maker AMS’s 1.75 billion Swiss franc cash call to help finance its takeover of German lighting group Osram Licht is a nasty exception.
BP JOINS OIL MAJOR CUTTING CREW. The UK crude producer has cut planned 2020 capital spending by a quarter, roughly in line with already announced moves by rivals Royal Dutch Shell and Total. A big chunk will come from reining in investment in U.S. shale, which the company recently augmented by buying BHP, assets.
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