At London Glossy we decided to create a new segment that summarises the weekly news, and provides insights into what to expect in the coming week. We understand that with the constant exposure to new content it can be hard to digest the key points. With this weekly recap, we hope our readers who missed the post never feel left out.
– By Afolabi Thomas, Business Editor
Happy Leap Year! We hope you enjoyed an extra day of February, and maybe you had a chance to celebrate. But if you were ever worried about your wild activities being caught on Snapchat, push that aside because it will only pop up as a memory in 4 years. Now that we’ve gotten that out of the way, lets dive into this week’s Nightcap.
• Coronavirus global effects
• “The Tesla Short”
• Impossible Foods x Disney partnership
• Spring Equinox
Coronavirus: The economic tipping point?
Coronavirus has taken the world by storm, forcing many countries to take extra precautions to protecting their borders against the disease. Japan Prime Minister Shinzo Abe announced a ¥270 bn emergency package to help combat the virus.Starting from Wuhan, China, the virus otherwise known as Covid-19 has successfully infiltrated over 60 countries and the death toll has risen to 2,981 (1). International travel has decreased drastically and caused a major disruption in Chinese manufacturing. Unfortunately, this will have a knock-on effect to business that run their supply chains in China.
As of now China will resume factory operations March 3rd, however the world has incurred major losses. Markets lost more than £150 bn last week from the indexes.
“The Tesla Short”
Tesla stock is embarking on the wildest starts to the new decade. The stock over the past 3 months is up nearly 105%, which is all good to say the least. However, Tesla over the course of the month reached an all-time-high at $968.99 and dropped to as low as nearly $600. This has raised severe concern over the true value that is in the stock itself.
Granted the markets all took a major hit this week, this has been one of the largest declines by any stock that was once larger than General Motors and Ford combined. The Coronavirus outbreak has truly exposed this stock for the hype that has boosted its price and we should expect this decline to continue. After all, Tesla must show its stakeholders it can reach is sales target of 500,000 cars globally over the course of of this year. If Tesla shows signs of struggle to the target, and Covid-19 continues to negatively impact markets, we can see further decline in Tesla stock.
Impossible Foods partners with Disney
Disney recently announced its partnership with Impossible Foods, allowing the faux beef producer to serve at Disneyland in Anaheim, California, at Disney World in Orlando, Florida, and on the Disney Cruise Line.
Impossible Foods make burgers that look and taste like meat but are produced with plant based ingredients and not animals. They aim to win over those who avoid meat and meat-lovers alike, and bring the world closer to less meat consumption. Plant-based foods have grown their own ecosystem of followers over the past year. Studies have shown that the Impossible Burger has a carbon footprint 89% smaller than meat based burgers. The best part is traditional burger eaters don’t have to give up their love for meat, as Impossible foods have the same texture and even bleeds like real beef.
“Our guests have embraced our plant-based offerings at our parks around the globe, inspiring us to expand our menu,” Disney wrote in announcing an expansion of plant-based options for consumers.
March is here, Spring Equinox is on the way, and soon will be the longer, warmer days. Surely, we’re all tired of Storm Ciara, Dennis, and Jorge ruining our moods. The Spring Equinox or Vernal Equinox is is essentially when the earth rotates a full rotation every 24 hours.
Usually the earth rotates at a 23.4º tilt, but in the Equinox the sun and the earth are rotating perpendicular to one another. This means that whichever region that crosses into spring will see 12 hours of sunlight. The Equinox happens twice a year; in March in the northern hemisphere, and in September in the southern hemisphere. The north can expect a proper thawing to come soon enough.
Thank you for digesting this first instalment of The Nightcap. Keep a look out next week as we embark on this exciting journey!
(1) According to a recent demographic by the Associated Press