March, 2022

• 30 March

  UK aerospace funding gets $898m for clean fuel move

  Bloomberg The UK allocated a record 685 million pounds ($898 million) of funding over the next three years for the development of aerospace technology, as the industry gears up to make the transition to renewable fuel. The Aerospace Technology Institute will receive an increase of more than 50% on its previous award, the government said in a statement. The group …

  Read More »
• 30 March

  United invests $5m to study greener jet fuel

    Bloomberg United Airlines is investing in a startup that could help make larger quantities of jet fuel that’s more environmentally friendly. United announced an initial $5 million investment in Cemvita Factory Inc. and is “contemplating a larger relationship,” according to Mike Leskinen, president of the airline’s venture fund. The Houston-based startup is also backed by Occidental Petroleum Corp. Cemvita …

  Read More »
• 30 March

  Bank of China sees fastest profit growth since 2013

    Bloomberg Bank of China Ltd. reported its biggest profit increase in almost a decade last year as lending momentum recovered in the second year of the pandemic and a build-up in bad loans eased. Net income jumped 12.3% from a year earlier to 216.6 billion yuan ($34 billion) in 2021, the lender said in a filing. That beat a …

  Read More »
• 30 March

  UBS reduces equity capital markets jobs

  

    Bloomberg UBS Group AG is laying off equity capital markets bankers because of a sharp decline in revenue after a slowdown in deal-making across the industry, according to people familiar with the matter. The Swiss firm began laying off a handful of bankers in equity linked and capital markets in Europe and Africa this month, the people said, asking …

  Read More »
• 30 March

  Climate action is in banks’ own interest, says ECB

  

    Bloomberg European banks could earn almost 6 billion euros ($6.6 billion) in annual revenue from financing the transition to a more sustainable economy, according to their top regulator. “The balance sheet choices banks will make about green and non-green assets will materially impact their bottom lines,” said Andrea Enria, who leads the European Central Bank’s supervisory board. “Consumers and …

  Read More »
• 29 March

  Barclays expects $591mn loss on bond error, delays buyback

  

    Bloomberg Barclays Plc expects to take a 450 million-pound ($591 million) hit and will delay a share buyback until the second quarter after issuing about $15 billion more structured notes and exchange traded notes than it had registered for sale. Barclays Bank Plc, the subsidiary that holds the lender’s corporate and investment bank, has determined that “securities offered and …

  Read More »
• 29 March

  UK cuts stake in NatWest to below half

  

    Bloomberg NatWest Group, the British bank will no longer be mostly owned by the UK government after it bought back nearly 5% of its shares in an off-market deal. The sale of the stake for £1.2 billion takes government’s shareholding to about 48%, and ends more than a decade of majority state ownership of the bank The UK government’s …

  Read More »
• 29 March

  Tesla adds $84b to valuation in a day on stock-split signal

  

  Bloomberg Tesla Inc added about $84 billion to its stock-market value, more than Ford Motor Co.’s entire market capitalisation, after the electric-vehicle maker said it is planning a second stock split in about two years. Stocks splits for large companies have returned to the spotlight recently with Amazon.com Inc. saying earlier this month that it will do a 20-for-1 stock …

  Read More »
• 29 March

  Stocks climb, oil rises amid cease-fire talks

  

  Bloomberg Stocks rise on Tuesday as cease-fire talks between Russia and Ukraine helped fuel risk appetite. The Stoxx Europe 600 Index advanced, with auto and consumer stocks outperforming. US equity futures climbed after benchmarks rose for a third session. Oil reversed earlier declines as investors weighed the impact of China’s mobility curbs against a Covid-19 resurgence on demand. Government bond …

  Read More »
• 28 March

  Oil falls as China’s worsening virus flare-up risks demand

  

    Bloomberg Oil retreated as China’s worsening virus resurgence raised concerns about demand in the world’s biggest crude importer. West Texas Intermediate futures fall as much as 6.2% after authorities in Shanghai said they will lock down half of the city in turns for mass Covid-19 testing. Global growth risks from inflation and tightening monetary policy also hit market sentiments, …

  Read More »