Bloomberg The company running the Chinese business of iconic Canadian coffee shop chain Tim Hortons agreed to go public through a merger with blank-check company Silver Crest Acquisition Corp. The transaction will give Tim Hortons China a Nasdaq listing and value the business at about $1.69 billion including debt, Silver Crest said in a regulatory filing, which confirmed an earlier …

Bloomberg US consumer sentiment fell in early August to the lowest level in nearly a decade as Americans grew more concerned about the economy’s prospects, inflation and the recent surge in coronavirus cases. The University of Michigan’s preliminary sentiment index fell by 11 points to 70.2, the lowest since December 2011, data released showed. The figure fell well short of …

Bloomberg Richard Branson sold about $300 million in Virgin Galactic Holdings Inc stock, tapping his biggest listed asset again to prop up his business empire during the pandemic. The billionaire offloaded almost 10.5 million shares — about 4% of the space-travel company — through a company he controls, leaving him with an 18% stake, according to a regulatory filing. The …

Bloomberg Sydney Airport said it’s prepared to hold discussions with suitors over a takeover offer of more than $16.8 billion as the company’s largest shareholder agitated for negotiations to start. The airport said it’s “open to engaging” with the bidders, led by IFM Investors, if they make an offer that reflects “long-term value.” At the same time, Sydney Airport rejected …

Bloomberg Thailand’s central bank governor called for an additional 1 trillion baht ($30 billion) in government spending to counter coronavirus, saying the blow to the economy from the pandemic is greater than from the Asian financial crisis in 1997. The government can fund additional spending by borrowing more, Bank of Thailand Governor Sethaput Suthiwartnarueput said on Monday at a briefing …

Bloomberg China’s central bank rolled over most of its medium-term policy loans coming due, a move to support economic growth amid a resurgence of Covid cases. Government bonds reversed earlier losses. The People’s Bank of China (PBOC) injected 600 billion yuan ($92.6 billion) into the financial system through its medium-term lending facility, close to the 700 billion yuan maturing Tuesday. …

Bloomberg New Zealand is set to raise interest rates this week, the first advanced economy in the Asia-Pacific to begin normalizing policy, as a powerful recovery unhindered by delta outbreaks shows signs of overheating. The Reserve Bank of New Zealand (RBNZ) will lift the official cash rate by a quarter percentage point to 0.5% at its review Wednesday in Wellington, …

Bloomberg Bank of America Corp (BofA) is boosting base salaries for junior bankers, joining firms including Perella Weinberg Partners and Evercore Inc in lifting pay to lure young talent on Wall Street. At Bank of America, first-year analysts across the global corporate and investment banking, markets, and research divisions will receive $100,000, up from $95,000, according to a person with …

Bloomberg Bank of England (BOE) policy makers are being overly-alarmist on their outlook for inflation, economists’ forecasts suggest, casting doubt on the need for a significant tightening in policy in the years ahead. While the central bank expects inflation to hit 4% this year and slightly exceed that level in early 2022, economists surveyed by Bloomberg only see it rising …

Bloomberg HSBC Holdings Plc agreed to buy AXA Singapore for $575 million in a push to build a global wealth hub in Singapore and fuel its expansion across Southeast Asia amid rising tension in China. The acquisition will give HSBC the eighth largest life insurer in Singapore, as well as a leading group health insurance firm, with assets of $474 …