FT News Briefing Disney’s $1.4bn hit, Beyond Meat boost, ECB called to justify bond-buying programme
May 6, 2020
Disney faces a $1.4bn hit due to the pandemic, showcasing the financial impact on major companies. Meanwhile, Beyond Meat is poised to disrupt the market with competitive pricing against real beef. Additionally, a German court has challenged the European Central Bank to defend its bond-buying strategy, raising questions about future monetary policies. Experts argue that post-pandemic, economists must shift from traditional efficiency models to emphasize resilience, adapting to today's economic uncertainties.
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Disney's Pandemic Performance
- Disney's Q2 operating profit dropped by $1.4B due to COVID-19 impacting parks, cruises, and films.
- Despite this, their streaming service, Disney+, gained 54.5M subscribers, exceeding expectations.
Beyond Meat's Retail Boost
- Beyond Meat saw 141% revenue growth, driven by retail sales, which helped offset restaurant closures.
- Increased meat prices make Beyond Meat more competitive, but they've withdrawn 2020 guidance due to uncertainty.
German Court Challenges ECB
- Germany's court questioned the ECB's bond-buying program's impact, potentially hindering future stimulus efforts.
- While the program likely won't stop, it highlights the tension between monetary policy and national sovereignty.