Bloomberg Hong Kong is ready to launch yuan-denominated stock trading to cater to investors in Shanghai and Shenzhen, with final clearances from regulators in mainland China expected in the second half of the year, according to people familiar with the matter. The city’s own infrastructure is largely ready to accommodate trading of shares in the Chinese currency via the southbound …

  Bloomberg US stocks rise in a late-day turnaround as dip-buyers emerged ahead of a busy week for Big Tech earnings. The S&P 500 rallied back in a choppy afternoon session to end near highs of the day, after falling to lows near the 4,200 level. The tech-heavy Nasdaq 100 climbed more than 1%. Twitter Inc extended gains after billionaire …

Bloomberg Distressed flag carrier PT Garuda Indonesia plans to undertake a rights issue to raise additional capital and will invite strategic investors to take part as it attempts to revive its ailing business. The airline expects to launch the equity issue after the Indonesian government makes good upon its plan to inject the carrier with fresh funds, Finance Director Prasetio …

  Bloomberg UK convenience store operator McColl’s Retail Group Plc said it is in talks on a financing deal to save the company, but warned shareholders that they face wipeout even if a pact is reached. The stock plunged 55%. “A potential financing solution is under active discussion with its key commercial partner and lenders which would resolve the short …

  Bloomberg New Yorkers looking to fly into the East Hampton Airport this summer will still be able to — but there will be fewer flights, and it’ll be costly. Blade Air Mobility Inc expects 60% of its typical volume to be diverted to neighbouring towns of Montauk, Southampton and Sag Harbor, according to the New York-based company. That’s because …

  Bloomberg Kering SA shares tumbled after growth at Gucci, its biggest brand, missed estimates in the first quarter, hindered by lockdowns in China. Sales at Gucci, which generated more than half of Kering’s revenue in the period, rose about 13% on a comparable basis, the Paris-based company said. Analysts had predicted a gain of almost 19%. The stock fell …

 Bloomberg More people are looking to travel to Singapore as the city-state eases virus rules. Travel-related searches on Google for the island destination have jumped, particularly from neighboring Malaysia, as well as Indonesia, India and Australia, according to data tracked by economists at Maybank Investment Bank Bhd. Singapore has led other Southeast Asian nations in scrapping pandemic travel curbs after …

  Bloomberg Massive outflows from US equity funds are just getting started as the Federal Reserve ramps up its hawkish rhetoric, according to Bank of America Corp (BofA) strategists. In the week through April 20, investors pulled $19.6 billion from US large caps, the largest exit since February 2018, the strategists wrote in a note, citing EPFR Global data. The …

  Bloomberg Zimbabwe’s central bank said it has “no reason or appetite to raid” foreign-exchange accounts and denied allegations from the country’s largest industry lobby group of US dollars being raided and a bank run. The Confederation of Zimbabwe Industries in a position paper had asked the central bank to dump its weekly foreign currency auction and also highlighted the …

  Bloomberg China’s central bank governor stressed the importance of keeping inflation under control in two separate speeches and pledged more targeted support for small businesses, reinforcing policy makers’ cautious approach to monetary stimulus. The People’s Bank of China’s “policy is to maintain price stability,” Governor Yi Gang said on a panel at the Boao Forum for Asia. In separate …