15/05/2020 As the automotive industry around the world comes to terms with the consequences of Covid-19 and begins to slowly return to work, we asked Mazars experts in seven countries about the impact of the virus, government measures where they are and their views on what happens next.
What is the purpose of a bank? Does it have a responsibility to society at large, over and above its duties to its shareholders, customers and employees?
During the last few weeks, the volume of loans issued by banks has snowballed as governments release programmes to bail out businesses affected by Covid-19. As a result of these higher volumes, the exceptional increase in underwriting activity raises several issues for banks. Most notably, banks, like all commercial institutions, are also having to cope with the effects of the pandemic on their processes...
As the infrastructure providers responsible for keeping us online, telecoms companies have been at the heart of how people and businesses have responded to Covid-19. Up against unprecedented demand and high expectations, ‘telcos’ have proven resilient. But, by meeting surges in traffic, they have had to delay the rollout of new services, including 5G in Europe.
The Covid-19 lockdown has put renewed pressure on businesses to ensure their supply chains can keep up with fast-changing demand. Digital transformation, says Abhijit Pal, is the answer to avoiding delivery delays and inventory issues, and by making digital interventions that enhance efficiency and reduce costs, a business can weather the current storm and prepare for future success.
15/05/2020 Retailers around the world have found themselves bearing the commercial brunt of Covid-19 as shops closed and shoppers stayed home. Consumer-focused retailers and high-street mainstays have been forced into administration, clothing and electronic stores have been shut for months in some parts of the world, and while supermarkets have seen food sales increase, sales of non-food items have...
04/05/2020 At first glance, regulatory authorities appear to have deprioritised the issue of climate change. However, a closer look would suggest otherwise and climate change in reality remains a key long-term priority of national and European regulators.
03/04/2020 As we continue to feel the effects of the global pandemic, the banking sector, like many other sectors, now faces unprecedented uncertainty. While banks are generally going into this pandemic in a stronger position than the global financial crisis of 2008, the current environment presents challenges for standard accounting procedures and processes that could impact a bank's risk profile.
16/04/20 The impact of the Covid-19 pandemic on transport and logistics has been heterogenous, largely due to the diversity of and vast number of players in the sector. The cards have not been dealt evenly. Flightradar24 reports a 55% drop in commercial flights compared to March 2019 [1], whilst sales of food in supermarkets exceeded the Christmas shops many times over in the UK [2], with incidence...
27/04/2020 China is the first country to restart its automotive production - following the outbreak of Covid-19, and while cultural, economic and social differences exist, the experience there could shed light on the road ahead for Europe and the US.
Mazars was hosting a tax webinar for the Financial Services sector where a range of Mazars tax experts discussed critical business issues related to Covid-19.
28/04/2020 Luxury fashion brands have made the headlines in recent weeks as they pivot to manufacture face masks and hand sanitizer in the fight against Covid-19, but what is going on behind their closed doors – and how is the pandemic affecting the sector at large?
The Covid-19 outbreak and the unprecedented emergency it presents has created a unique threat to the world’s economy. Like all sectors, banking has been impacted, and its stakeholders have felt excessive pressure over the last few weeks to get things right. Regulators in financial markets around the globe have all announced Covid-19 action plans, which may afford the banks room for relief over the...
02/04/2020 Covid-19 has already made its impact on energy and infrastructure: share prices of listed yieldcos and infrastructure funds have fallen by anything between 10% and 30% since their peaks, with significant volatility ahead. While the fallout of the virus has so far been less damaging to the sector than to the wider market, it has still resulted in the material devaluation of a sector based...
20/04/2020 As people spend more time at home, content providers are caught between increased customer demand, fierce competition and falling advertising revenues. While some stand to gain from new working arrangements, others are losing this new commercial battle. Free content that hooks users in these changing times could be the key to long-term success.
27/04/2020 The current pandemic is having far reaching consequences across all aspects of society. Compared to other industries the impact on the credit card industry is relatively mild and from a customer perspective the value of on-demand liquidity is now clearer than ever. However, there will be significant impacts on industry profitability. Reduced international travel will severely impact foreign...
24/04/2020 Covid-19 disruption to the banking sector is widespread, including changes to working patterns, changes in customer behaviour, changes to partner-supplier dynamics and direct impacts on profit and loss accounts. The phase of immediate action to ensure business continuity is now largely complete. As infection curves flatten, restrictions are gradually eased and light starts to emerge at...
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