Bloomberg China plans to allow some commercial banks to start selling soured personal loans to distressed asset managers as soon as this month, according to people familiar with the matter. At a meeting by the official credit assets transfer center, banks and state-run bad-loan managers were asked to accelerate preparations to ensure a smooth start of the trial program in ...

Bloomberg The priciest equities in more than five years are proving no deterrent for stock traders in China, where the benchmark is now nearing its all-time high. The CSI 300 Index rises 2.9% on Tuesday to close at a 13-year high, taking this month’s gain to 7.4% — its best-ever start to a year. Shares of brokerages rallied, an indicator ...

Bloomberg US stocks were mixed and benchmark Treasury 10-year note yields rise to a 10-month high as investors mulled the prospects of the economic recovery and vaccine rollout. The S&P 500 was little changed, with the energy and consumer discretionary sectors gaining, while utilities and communication services were the biggest decliners. Europe’s Stoxx 600 Index traded little changed. The dollar ...

Bloomberg Oil edged lower as the dollar strengthened, with the steam coming out of a rally that pushed crude to the highest level in 10 months. Futures in New York lost 0.9% as the dollar’s gains reduced the appeal of raw materials such as oil that are priced in the currency. Both West Texas Intermediate and Brent crude are trading ...

Bloomberg Ship owners facing looming deadlines to use less-polluting fuels have slashed the number of new vessels on order because they don’t know which alternative technology to switch to. Ammonia, hydrogen, biofuels and electrification are some of the many contenders to power the world’s future merchant fleet, but most are only in the trial stage and won’t be scalable for ...

Bloomberg South African plants owned by Glencore Plc and Petroliam Nasional Bhd that make up 43% of the nation’s oil-refining capacity are expected to stay shut until at least 2022, according to energy consultant Citac. Astron Energy Ltd, a unit of Glencore, has yet to restart the 100,000 barrel-a-day Cape Town refinery after a deadly explosion and fire in July. ...

Bloomberg The retrieval of the black boxes from the wreckage of Indonesia’s Sriwijaya Air Flight 182 will shed light on why the Boeing Co 737-500 jet, a 27-year workhorse of the skies, plunged into the Java Sea just minutes after take off. Until that time, there are questions over what caused the tragedy. Human error, bad weather and equipment malfunction ...

Bloomberg Singapore Airlines Ltd is considering its first-ever offering of dollar bonds, as it tries to bolster cash amid the pandemic. The city-state’s flag carrier is holding a series of fixed-income investor calls in Asia and Europe from Monday for the potential debt sale, according to a person familiar with the matter. The pandemic has devastated the global travel industry, ...

Bloomberg The pursuit of Signature Aviation Plc turned into a three-way contest, with Global Infrastructure Partners (GIP) rejoining the battle for the world’s largest operator of private-jet bases after an earlier bid was rejected. Signature Aviation agreed on Monday to a $4.63 billion buyout by GIP, while leaving the door open for higher offers. Investors will receive $5.50 per share ...

Bloomberg Madrid’s international airport was ready to resume outbound operation after heavy snowfall covered the Spanish capital and much of the rest of the country prompting its closing, Transport Minister Jose Luis Abalos said. A full reopening is going to be “gradual” as airlines cancelled almost all their flights and are now reorganising their schedule, he said. Spain’s biggest hub ...