03/06/2020 Covid-19 has caused automotive factories to close and sales to slump. In response, governments have intervened in different ways around the world: in some countries policymakers have moved quickly to lessen the economic burden on auto businesses, while in others they have been slower off the mark. To gain a better understanding of the global outlook, we collected information from Mazars’...
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.
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.
21/05/2020 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...
18/05/2020 The COVID-19 created an exceptional and uncertain economic environment with significant impact on the financial sector, throwing down challenges to financial institutions in preparing their financial statements.
15/05/2020 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?
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.
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...
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 currency...
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...
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.
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?
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.
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.
15/04/2020 In the context of Covid-19, our expert Vincent Guillard presents recent EBA, IASB, ESMA and BCE publications and the consequences of these new accounting and prudential measures on banks’ ECL under IFRS 9.
How we live and work has seemingly changed overnight. With much of the world in lockdown, people and businesses are turning to technology to keep them going, whether it’s the surge in video chats, trials of app-based medical advice or growing interest in online food delivery kits.
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.
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 on the...
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.
24/03/2020 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...
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...
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