Cannabis retailers in California miss out on pandemic surge in vices. Read the latest on Corona Capital:
, saying weed is less recession-resistant than similar products like tobacco and alcohol.
All this says less about marijuana than red tape. While selling the drug is legal in California, retailers struggle to find banks that will serve them, which ultimately raises prices. When incomes fall – the U.S. teen unemployment rate is now almost 30% – some customers will seek out their old dealer, which saps tax revenue, and turns a legal activity back into an illegal one.
It’s not so bad. Commercial paper usually covers specific short-term cash flow needs like wages and supplier payments. The BoE’s scheme will have encouraged firms to make payments on time, boosting the economy. Dividends, by contrast, are usually allocated according to longer-term metrics like free cash flow or earnings. The real takeaway is that BoE holdings dropped to 16.2 billion pounds from 19 billion pounds the week before.
Having a pandemic-proof business model probably played a role. Dada works with supermarkets to deliver their goods using crowd-sourced riders. Sales nearly doubled in the first quarter year-on-year to 1.1 billion yuan . Its success in the aftermarket, however, is another matter. Chinese companies that have listed in New York so far this year are collectively down 23%, according to data provider Dealogic. Its debut later today will be watched closely.
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