Bloomberg One of the biggest risks banks face when it comes to cryptocurrencies is being left out of the market altogether. That’s the view from Commonwealth Bank of Australia (CBA) Chief Executive Officer Matt Comyn, who says although the digital assets are “very volatile and speculative”, banks need to be involved in the adoption of technology underpinning crypto and the …

Bloomberg One exchange-traded fund (ETF) shows how investors are increasing bets on a rebound in Chinese property junk bonds. Surging inflows have lifted total assets of the iShares USD Asia High Yield Bond Index ETF to $1.87 billion from $383 million at the end of August, an increase of 388%. In October alone, the fund attracted a record $773 million. …

Bloomberg Investors are running away from companies that stand to benefit from a return to normalcy as Covid-19 cases mount in the US and the virus wreaks havoc in Europe. Cruise ship operators Carnival Corp, Royal Caribbean Cruises Ltd. and Norwegian Cruise Lines Holdings Ltd each closed down more than 2% as investors piled into less risky assets. The S&P …

Bloomberg A less volatile year is ahead for markets, should a forecast by UBS Global Wealth Management’s Nadia Lovell play out. “Next year, we think financial markets will discover what normal looks like from a growth and an inflation standpoint,” the firm’s senior US equity strategist said in an interview on Bloomberg TV’s Surveillance. “In that environment, the S&P can …

Bloomberg Oil logged its biggest weekly drop since August as Europe’s worsening Covid-19 crisis renewed the prospect of lockdowns just as key consuming nations look to add emergency supply to the market. West Texas Intermediate for January delivery tumbled 3.2%, while the expiring December contract lost 3.7%. Europe’s Brent skidded 2.9%. The wave of infections in Europe is growing, once …

Bloomberg Global initial public offerings (IPOs) have smashed their previous record this year, propelled by a blank-check boom and companies cashing in on high valuations. With six weeks to go, about 2,850 businesses and special purpose acquisition (SPAC) companies have raised more than $600 billion in IPOs, leaving the records for both deal count and proceeds reached in 2007 in …

Bloomberg Walmart Inc fell the most in almost nine months after the retail giant signalled that it’s bracing for more pressure from global transportation snarls despite a broadly positive outlook. The company’s costs are rising more quickly than its prices, Chief Executive Officer Doug McMillon said after the company reported third-quarter earnings. Gross margin, a broad measure of profitability, fell …

Bloomberg Boeing Co has agreed to settle outstanding claims with SpiceJet Ltd relating to the grounding of its 737 Max aircraft and their return to service. “This paves the way for the induction of efficient and younger Max aircraft into the company’s fleet and ensures the resumption of new aircraft deliveries from our order of 155 Max aircraft,” India’s second-biggest …

Bloomberg IndiGo, one of Asia’s biggest budget carriers, is mulling charging passengers for checked-in luggage as the airline prepares for a potentially fierce price war in India’s cutthroat air travel market, which is showing signs of recovery following the worst of Covid. IndiGo, operated by InterGlobe Aviation Ltd, didn’t implement the so-called unbundling of fares in February — just before …

Bloomberg Leaders of the House Transportation and Infrastructure Committee have called for a review of how US aviation regulators oversaw Boeing Co’s troubled 787 program. A letter signed by the top Democrat and Republican on the committee was sent to the Transportation Department’s Inspector General, the committee announced. The 787 has been plagued by production issues for a year and …