FT News Briefing US companies announce record share buybacks, Covid hits India’s middle class
May 12, 2021
US companies are jumping back into share buybacks, announcing a jaw-dropping $484 billion after a strong earnings season. However, shareholders are increasingly pushing back against executive pay, signaling a shift in corporate dynamics. Meanwhile, the pandemic's resurgence is wreaking havoc on India's middle class, exemplified by heartbreaking stories of loss and struggle. The stark contrast to the UK's renewal of wedding celebrations highlights the global disparities in recovery.
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Share Buyback Boom
- U.S. companies are planning record share buybacks after the pandemic.
- This signals increased confidence in their future performance.
Executive Pay Revolt
- Shareholders are rebelling against executive pay raises, viewing them as excessive.
- This shift follows pandemic-era adjustments to executive compensation.
India's Middle Class Crisis
- Ram Prakash, a tax advisor and middle-class breadwinner, died from COVID-19, leaving his family in financial distress.
- This highlights how India's second wave disproportionately impacts the middle class.