Mall Giant Intu Warns of Bankruptcy: First, the Meltdown of Brick & Mortar Retail, Now COVID-19 by Nick Corbishley • Mar 15, 2020 • 48 Comments Local governments end up buying dying malls to keep them from becoming dead zones.
First Enron of 2020: Muddy Waters’ Short-Target NMC Health Just “Discovered” $2.7 Billion Undisclosed Debt by Nick Corbishley • Mar 12, 2020 • 48 Comments Oops, the rot runs even deeper than Muddy Waters could have imagined.
European Bank Stocks Collapse to March 2009 & 1988 Levels by Nick Corbishley • Mar 10, 2020 • 64 Comments Just how much lower can they go? To Zero. And the ECB’s negative interest rates are driving them closer to it.
Muddy Waters’ Short-Target NMC Health, a FTSE 100 Company, Admits Doctoring Accounts on Massive Scale. Shares Suspended by Nick Corbishley • Feb 29, 2020 • 72 Comments “Even more damning than our initial report”: Carson Block of Muddy Waters.
Why Has UK Auto Manufacturing Collapsed 24% in Three Years? by Nick Corbishley • Feb 3, 2020 • 58 Comments 81% of the vehicles are exported; they can be built anywhere. Honda is leaving. Nissan may be too. Vauxhall may be shuttered. Jaguar Land Rover offshored some production. But EV production soared.
Brexit Moment: Nigel Farage’s Dramatic Final Speech at the European Parliament (Video) by Wolf Richter • Feb 1, 2020 • 169 Comments The UK is out of the European Union, and “the rest frankly is detail.”
What to Do with Malls? Teetering UK Mall Giant Intu Asks Investors for £1 Billion. Shares Drop to Near-Nothing by Nick Corbishley • Jan 21, 2020 • 66 Comments Brick & Mortar melts down on mall owners. So “repurpose” malls into housing?
Brick-and-Mortar Melts Down in the UK, Worst Decline Since 2009, as Big Retailers Collapsed, 14,500 Stores Closed by Wolf Richter • Jan 18, 2020 • 184 Comments But even red-hot online sales cooled off late in the year as consumers turned sour.
Another UK Mutual Fund Leaves Investors Twisting in the Wind by Nick Corbishley • Dec 4, 2019 • 30 Comments Another “run on the fund.” More investors can’t get their money out but contemplate big losses.
Screwed Investors Still Stuck in Woodford’s Imploded Mutual Fund Get a Glimpse of Their Losses by Nick Corbishley • Nov 14, 2019 • 54 Comments After a “run on the fund,” triggered when people figured out it was loaded up with crappy illiquid assets.
