Bloomberg Amazon.com contract drivers have noticed a sudden change in how the company assigns delivery routes, a sign that it has found a way to prevent rogue operators from gaming the system to snatch orders first. Bloomberg revealed that drivers were putting smartphones in trees outside Whole Foods and Amazon delivery stations in the Chicago area to get a jump …
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Airplane cabins may look different next time you fly
Bloomberg Headrest canopies and fabric barriers between seats could start appearing in airplane cabins as the embattled industry tries to ward off the coronavirus. Airlines desperate for governments to lift travel restrictions and passengers to return are looking at ways to reassure the public that their health won’t be compromised on a flight. New-look seats and fresh cabins could be …
Read More »Ryanair eyes euro bond in test of virus impact
Bloomberg Ryanair Holdings Plc is readying its first euro-bond sale since 2017, testing investor appetite for high-grade airline debt amid coronavirus travel upheavals. Europe’s biggest discount carrier will speak to investors on Monday about a potential five-year bond of at least 500 million euros ($592 million), according to a person familiar with the matter, who asked not to be named …
Read More »Kay Jewelers owner shares climb
Bloomberg Signet Jewelers Ltd, the owner of jewellery chains Jared and Kay, gave another sign the US jewellery industry is past the worst of it, with preliminary comparable sales turning positive in August following a challenging start to the summer. Shares rose. After reporting a 31.3% decline in same-store sales in the second quarter ended on August 1, the company …
Read More »Australia central bank to expand QE, may cut rates
Bloomberg Australia’s central bank (RBA) will boost its bond-buying program or cut interest rates to help revive the economy from its first recession in almost 30 years, a survey showed. Seven of 11 economists predict the Reserve Bank will ramp up quantitative easing by expanding its bond purchasing program, with UBS Group AG’s George Tharenou positing that this could begin …
Read More »India’s largest bank prices riskiest bond at record-low cost
Bloomberg State Bank of India priced one of the riskiest bank capital securities at a record-low coupon, in the latest sign that investors are confident policy makers’ stimulus steps will help large issuers weather the pandemic. India’s biggest bank will sell 40 billion rupees ($545 million) of the so-called Additional Tier 1 bonds at a coupon of 7.74%. That’s the …
Read More »Danish bank set to refund $16m to clients for losses
Bloomberg Danske Bank will pay out as much as $16 million to its private banking clients after failing to warn them that putting their savings into low-risk investments could cost them money. “Our review shows that approximately 900 customers were not adequately informed about the expected negative net return for the affected low-risk strategies,†Bente Nielsen, head of private banking …
Read More »Malaysia’s currency facing two key risks after beating Asia peers
Bloomberg The Malaysian ringgit has defied the odds to outperform most of its Asian peers. Now investors will be watching to see if it survives the trials of September. A three-month rally in the currency could come to a halt when FTSE Russell announces a decision on whether it’ll retain ringgit bonds in its World Government Bond Index. A lesser …
Read More »MAS to enhance bank access to dollar funding
Bloomberg Singapore’s financial regulator said it will introduce measures to enhance banks’ access to local and US dollar funding to protect the city state’s financial sector against the economic fallout of the coronavirus pandemic. From September 28, the new facility will provide banks and financial firms an additional channel to borrow Singapore dollar funds at longer tenors and will allow …
Read More »Credit Suisse may have spied on more staff: Report
Bloomberg Credit Suisse Group AG may have spied on other employees beyond former star banker Iqbal Khan and its ex-head of human resources, Swiss newspaper SonntagsZeitung reported, citing people familiar with the matter and a probe of the bank’s activities by banking regulator Finma. The Swiss bank surveilled a former employee in the US as well as an ex-staff member …
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