
Ethical Investment Fintech Wahed Raises $25 Million As Demand For Islamic Finance Booms
June 10, 2020This article was written by Brandon Kochkodin and Mathieu Benhamou. It appeared first on the Bloomberg Terminal.
It’s earnings season and this one is unlike any other. The global coronavirus pandemic has resulted in the end of the longest U.S. bull market, full scale shutdowns of economies, sky high unemployment and a wave of businesses shuttering for good.
Quarterly reports are already beginning to yield some clues about the damage done to publicly traded companies, and the broader statistics are clear. About $10 trillion in market value has been wiped out of global stocks, 3 percentage points of worldwide GDP have been erased, and 26.5 million jobs have been lost in the U.S. alone.
But as investors look for ways to measure the impact on the corporate world — and to detect signs of a rebound — they’ll need some more precise tools. Bloomberg compiled data on how dividends have been slashed and corporate insiders have liquidated, while bond spreads and new issue concessions have blown out. We’ll update these figures over time to show the depths of the crisis and, eventually, the pace of recovery.
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