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Big companies are quickly getting back to business as usual even as coronavirus cases continue to hit record levels.
What's happening: A recent survey of U.S. chief financial officers found the difference in outlooks between small and large firms over the next 12 months "is extreme."
- Expectations at small businesses "have essentially collapsed," says Keith Parker, global equity strategist at UBS Research.
- Conversely, more than 60% of large firms with sales over $2 billion expect sales growth to accelerate — 49% expect a "significant pickup."
In the world of M&A, deals started picking back up in the back half of the second quarter, data from CB Insights show.
By the numbers: VC deal activity rebounded globally and Asia saw the largest increase of the quarter, with activity rising 20%, compared to 9% in Europe and 3% in North America.
- Deals in the U.S. rose after three straight quarterly declines and U.S. VC-backed unicorns rose to a new record of 209.
- 69 companies raised funding rounds worth at least $100m in Q2, a new record.
- IPO exits jumped 60% in the quarter.