The credit markets are no place for discerning investors these days. US junk bond and leveraged loan sales have surpassed $1 trillion in 2021, an unprecedented amount for a calendar year. Loan funds have experienced inflows during all but two weeks this year, bringing the S&P/LSTA Leveraged Loan Price Index close to an all-time high, and year-to-date issuance of collateralised-loan ...

Bloomberg Ryanair Holdings Plc Chief Executive Officer Michael O’Leary said steps aimed at containing spiraling coronavirus infection rates in Europe are putting the region’s travel rebound at risk. Measures including a return to lockdown conditions in Austria mean airlines face a “fraught” period through Christmas as they wait to see whether a resurgence in demand will be strangled off, O’Leary ...

Bloomberg SpiceJet Ltd is reducing liabilities and considering raising capital after the damage caused by Covid-19, and has agreed compensation from Boeing Co for the grounding of 737 Max jets, Chairman Ajay Singh said. The budget carrier, which suffered as Covid halted air travel in India, aims to cut liabilities by as much as $300 million over six months and ...

Bloomberg Air Canada has agreed with US aviation regulators to pay $4.5 million to settle charges that it didn’t properly give refunds to US travellers when it cancelled or altered flights during the Covid-19 pandemic. The settlement between the airline and US Department of Transportation — which must be approved by an administration law judge — would be the largest ...

Bloomberg Nordstrom Inc said poor inventory planning at its off-price Rack stores dragged on revenue growth in the third quarter, a problem company executives said they were working to address heading into the holiday season. Sales at the Rack division were 8% below where they were before the pandemic. Revenue at the company overall was down 1% in the same ...

Bloomberg Retailers say shoplifting is getting more brazen in the US: A California Nordstrom store was recently hit by a flash mob of more than 80 people who made off with designer goods, while more than a dozen people pilfered from a Louis Vuitton location in a suburb of Chicago. The impact of shoplifting reached Wall Street, with Best Buy ...

Bloomberg Gap Inc lowered its projection for 2021 sales and profit as supply-chain bottlenecks led to lost sales and higher expenses. The shares fell in trading. Gap now sees revenue growing about 20% for the full year — down from its previous projection of a 30% gain. Analysts had projected revenue to be 28% higher this year, according to estimates ...

Bloomberg The Biden administration included Taiwan among the 110 invitees to its upcoming democracy summit, the State Department announced, a move that’s intended to show solidarity with a key regional partner but risks angering China. Taiwan was invited to join nations, including the UK and Japan, at the December 9-10 virtual summit, the State Department said on its website. The ...

Bloomberg Olaf Scholz is set to succeed Angela Merkel as German chancellor after forging an unprecedented alliance that aims to revamp Europe’s largest economy by tackling climate change and promoting digital technologies. After nearly two months of intense negotiations, Scholz’s center-left Social Democrats said they would present their agreement with the Greens and the pro-business Free Democrats. Details of the ...

Bloomberg Investors looking for ESG strategies have been handed a new group of indexes promising to focus on biodiversity by excluding companies that are found to pose a threat to nature. The Euronext ESG Biodiversity Screened Index series by HSBC Holdings, developed the product together with Euronext NV and Iceberg Data Lab SAS. The idea is to bring liquidity to ...