Bloomberg New Zealand plans to more than triple a levy it charges travelers crossing the border, running the risk of slowing a fragile recovery in the tourism sector, according to the industry body. The government has in principle agreed to raise the border processing levy for air passengers to NZ$63 ($44) from NZ$20.11 on December 1, Tourism Industry Aotearoa (TIA) ...

Bloomberg A Brazilian supermarket chain controlled by L Catterton, the private equity firm backed by French billionaire Bernard Arnault, has chosen banks for a potential initial public offering that could raise as much as 800 million reais ($159 million), people familiar with the matter said. Sao Paulo-based Grupo St Marche is working with Banco Santander Brasil SA, Banco Itau BBA ...

Bloomberg Shares of Chinese technology companies slid in Hong Kong as investors stepped back to gauge the impact from Beijing’s move to block ride-hailing giant Didi Chuxing from app stores due to data security issues. Tencent Holdings Ltd, which has a stake in Didi, slumped 3.6% in Hong Kong to erase its year-to-date gain. Meituan, ordered by China’s antitrust watchdog ...

Bloomberg As stocks around the world continue to smash one record after another, some of the world’s biggest money managers have a simple message: Get used to it. The likes of BlackRock Inc, State Street Global Markets, UBS Asset Management and JPMorgan Asset Management expect equity markets to keep rising in the second half of the year, with many investors ...

Bloomberg British consumers are starting to feel the pinch from a rally in global energy markets, with supplier Igloo saying it will hike prices. The cost of energy for a typical home buying natural gas and electricity will rise 12.1% from August 2, Igloo said on its website. The move follows a surge in the wholesale price of gas and ...

Bloomberg High stock price valuations may be giving some investors pause, but it hasn’t stopped US corporations from plowing even more cash into their shares. Morgan Stanley and Wells Fargo Inc are among the nation’s biggest lenders that signalled this week they’re stepping up repurchases and raising dividends after passing Federal Reserve stress tests with flying colours. Banks are joining ...

Bloomberg India’s $442 billion asset management industry is finally having to reckon with the passive investing juggernaut. After decades of sluggish growth, the number of accounts invested in index-tracking or exchange-traded funds more than doubled to 5.6 million in the year to April. Passive products now account for nearly a quarter of equity assets under management versus about 16% two ...

Bloomberg Rolls-Royce Holdings Plc is increasingly optimistic that it can move beyond the jet-engine issues that have cost it billions of pounds and provided an unwelcome distraction during years of restructuring work. Final fixes to a litany of glitches that plagued the Trent 1000 turbine powering Boeing Co’s 787 Dreamliner should be made this year, engineering and technology director Simon ...

Bloomberg Fortress Investment Group agreed to buy Wm Morrison Supermarket Plc for about 6.3 billion pounds ($8.7 billion), trumping an earlier bid from Clayton Dubilier & Rice. The all-cash agreement by a group led by Fortress, a SoftBank Group Corp subsidiary, follows the UK supermarket chain’s rejection of CD&R’s 5.5 billion-pound offer last month. It’s the latest in a flurry ...

Bloomberg PT Lion Mentari Airlines is struggling to make payments to lessors on some of its planes, according to people familiar with the matter, as the pandemic tips it ever closer to financial peril. Indonesia’s largest discount carrier has grounded some 25 aircraft because it hasn’t paid lessors that are owed at least $500 million, one of the people said, ...