Company chiefs halting dividends to cope with coronavirus chaos and cutting salaries for rank-and-file staff should think about making sacrifices themselves, according to Britain’s biggest money managers.
![A 2017 50 subject uncut sheet of $1 dollar notes bearing the name of U.S. Treasury Secretary Steven Mnuchin sits on display at the U.S. Bureau of Engraving and Printing in Washington, D.C., U.S., on Wednesday, Nov. 15, 2017. A change in the Senate tax-overhaul plan that would expand a temporary income-tax break for partnerships, limited liability companies and other so-called \"pass-through\" businesses won the endorsement of a national small-business group today. Photographer: Andrew Harrer/Bloomberg](/polopoly_fs/1.1418751.1586302271!/fileimage/httpImage/image.png_gen/derivatives/landscape_140/a-2017-50-subject-uncut-sheet-of-1-dollar-notes-bearing-the-name-of-u-s-treasury-secretary-steven-mnuchin-sits-on-display-at-the-u-s-bureau-of-engraving-and-printing-in-washington-d-c-u-s-on-wednesday-nov-15-2017-a-change-in-the-senate-tax-overhaul-plan-that-would-expand-a-temporary-income-tax-break-for-partnerships-limited-liability-companies-and-other-so-called-pass-through-businesses-won-the-endorsement-of-a-national-small-business-group-today-photographer-andrew-harrer-bloomberg.png "A 2017 50 subject uncut sheet of $1 dollar notes bearing the name of U.S. Treasury Secretary Steven Mnuchin sits on display at the U.S. Bureau of Engraving and Printing in Washington, D.C., U.S., on Wednesday, Nov. 15, 2017. A change in the Senate tax-overhaul plan that would expand a temporary income-tax break for partnerships, limited liability companies and other so-called \\"pass-through\\" businesses won the endorsement of a national small-business group today. Photographer: Andrew Harrer/Bloomberg, Photographer: Andrew Harrer/Bloomberg")
Beijing’s grip over capital markets is being tested by Chinese companies’ exposure to the offshore bond market, where $87.3 billion owed by the nation’s firms comes due this year.
Crude steadied in Asia, holding under $25 a barrel as traders weighed whether output cuts being discussed by the world’s top producers would be enough to offset an unprecedented demand loss from the coronavirus outbreak.
Airbnb Inc. is in talks with investors to take on as much as $1 billion in additional debt after announcing a $1 billion debt and equity deal Monday, according to people familiar with the matter.
Investors trying to parse the economic hit from Covid-19 have little reliable data to work with.
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