Bloomberg President Joe Biden’s potential tax hikes will likely deal only a temporary blow to US equities thanks to the tide of fiscal spending, including the prospect of growth-friendly infrastructure outlays, strategists said. Stocks are pricing in the good news around infrastructure and showing “little concern about tax hikes,” Goldman Sachs Group Inc. strategists led by David Kostin wrote in …

Bloomberg A pick-up in spring break travel is pointing to the first signs of life for a battered jet fuel market, a trend that is likely to continue as more vaccinated Americans venture back onto airplanes this summer. In US airports, the number of passengers checking in through security hit the highest in a year this week, according to Transportation …

Bloomberg Vietnam’s Bamboo Airways expects a market capitalisation of about $2.7 billion at its planned listing no later than the third quarter as it anticipates a June or July easing of the government’s pandemic halt of international flights. The carrier, which began operations in 2019, plans to list 105 million shares on either the Ho Chi Minh City Stock Exchange …

Bloomberg Zomato Pvt, an Indian food delivery startup backed by Jack Ma’s Ant Group, is planning to file the draft prospectus by April for its initial public offering that could raise about $650 million, according to people familiar with the matter. The company could complete the listing in Mumbai before the end of September, the people said, asking not to …

Bloomberg Three years ago, Walmart Inc. offered hundreds of thousands of its US workers a new perk to keep them from quitting. Employees loved it. Rivals copied it. Now Walmart has reached a conclusion: It hasn’t quite worked as expected. The perk is an app that gave employees the ability to tap their wages before payday, along with a bevy …

Bloomberg An Indonesia cargo plane that returned to base shortly after takeoff because of a technical issue skidded off the runway when it landed at a Jakarta airport, the air-navigation operator said. Trigana Air’s Boeing 737-400 returned to Halim Perdanakusumah Airport about two minutes after takeoff, AirNav spokesman Yohanes Harry Douglas Sirait said. Several flights were diverted from the facility …

Bloomberg Avianca Holdings SA plans to add dozens of routes using smaller aircraft as it plots its emergence from bankruptcy later this year, the airline’s chief executive said. Colombia’s largest carrier is expanding with 50 direct routes between secondary cities in coming years, said CEO Anko van der Werff in an interview. Using narrow-body planes, it will target tourist spots …

Bloomberg A negative yield was quoted for the first time ever on India’s sovereign bond trading platform, traders said, triggering intense speculation about the motive. The 6.17% bond maturing in 2021 was offered at a negative yield of around 1.5%, according to traders who saw the quote on the Clearing Corporation of India’s Negotiated Dealing System — Order Matching, or …

Bloomberg If investors keep pouring money into equity funds at their current pace, it could add a “breathtaking” $1.6 trillion to stocks this year, Bank of America Corp. (BofA) strategists say. Despite the market volatility spurred by rising bond yields and inflation bets, equity funds attracted a record $68.3 billion in the week through March 17, according to a BofA …

Bloomberg Oil ended its worst week since October on a gain, a day after inflation concerns and worries over the trajectory of near-term demand triggered the largest daily loss in several months. Wall Street banks said the sell-off was transitory. Futures in New York ended the week 6.4% lower, with last week’s rise doing little to reverse the previous session’s …