Moody’s investor service confirms Tata Steel’s Ba2 rating outlook to negative

MUMBAI: Moody’s investor service on Monday has confirmed the Ba2 corporate family rating (CFR) of Tata Steel and has changed its outlook to negative from ratings under review as the agency estimates weakness in Tata Steel's credit metrics adding to other significant downside risks from the ongoing pandemic."The confirmation of Tata Steel's Ba2 CFR recognizes that while the company's credit profile will deteriorate due to the challenges brought on by the pandemic, its key financial metrics will likely recover to levels appropriate for its rating by the fiscal year ending March 2023 (fiscal 2

There’s a bull case on stocks tied to rising jobless ranks

By Lu WangYou’ve never had to look far during the Covid crisis to find displays of cold-blooded logic among stock investors. The latest centers on the potential benefits to corporate earnings in rising unemployment.It’s a view getting a wider airing -- that job cuts are setting the stage for a swift rebound in profits if the economy reaches a full-blown recovery. That’s a big “if,” of course, as any improvement in profitability would have to offset the demand destroyed by lost jobs.

The likely ramifications of Trump's visa ban for foreign workers

By Vinod SubramanianCOVID-19 has erected walls between nations and this has ensured that only the virus has been able to penetrate through them. Recently, US President Donald Trump announced that the two-month moratorium on issuance of H-1B (skilled workers), H4 (for dependents of H1B), H2B (for seasonal workers in the landscaping and hospitality industry), L1 (intra company transfers), L2 (dependants of L1), J1 (Students) will be extended till December 2020. Kuwait too is in the process of enacting a similar legislation to make the prospects of hiring foreign workers stringent.

How Airtel can touch $100-bn valuation

New Delhi: Bharti Airtel can achieve a $100 billion valuation, Rs 300 average revenue per user (ARPU) and 15% return on capital employed in the next 3-5 years, if the telco strengthens its balance sheet further by selling stakes in its tower and Africa units and steps up its game in digital offerings, analysts say.In a report, brokerage firm SBICap Securities said that the near-doubling of Bharti’s ARPU from Rs 154 in FY20, is probable in five years.

The two main risks to global recovery

By David GoodmanThe coronavirus pandemic is throwing the world into financial insecurity, posing a threat to the recession-hit global economy if it means consumers keep saving rather than spending.A new YouGov survey across 26 countries shows consumers everywhere are concerned about their jobs and household budgets. They’re also cautious about spending or investing the money they do have.It suggests that signs of a rebound in some measures of activity -- cited by a number of policy makers as reason for optimism -- will take time to get people back in shops, airports or restaurants.