November, 2021

• 15 November

  COP26 seals breakthrough climate deal after compromises

  

  Bloomberg Negotiators from almost 200 countries clinched a deal that seeks to keep the most ambitious goal of the Paris Agreement alive, breaking new ground in the fight against climate change but punting the hardest decisions into the future. After two weeks of often fraught United Nations COP26 talks, delegates agreed to reduce the use of coal, end “inefficient” fossil-fuel ...

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• 15 November

  Air Asia X’s debt restructuring receives support from creditors

  

  Bloomberg AirAsia X Bhd’s debt-restructuring proposal received more than 95% support from creditors in meetings as the debt-laden budget carrier tries to stay afloat. The airline received full support from two classes of creditors on its proposed debt restructuring and 97.6% from the third group, it said in separate statements to the Malaysian stock exchange. AirAsia X needed at least ...

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• 15 November

  Boeing signals optimism on fixing 787, 737 Max issues

  

  Bloomberg Boeing Co is on the verge of surmounting issues that have held back deliveries of its two most important aircraft, the 787 and the 737 Max, an executive said. The planemaker is “getting close” to restarting deliveries of the 787, Ihssane Mounir, senior vice president of commercial sales and marketing, said in Dubai ahead of an air show on ...

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• 15 November

  Cathay says tighter crew curbs may hit supplies into Hong Kong

  

  Bloomberg Cathay Pacific Airways Ltd expressed concern about a possible move by Hong Kong to rein in quarantine exemptions for aircrew operating cargo flights, saying it could reduce the number of available employees and disrupt the supply of goods moving in and out of the financial hub. The airline, Asia’s biggest cargo carrier, has been operating a full freighter schedule ...

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• 15 November

  Sweden’s grocery chain ICA to go private at $12.5b valuation

  Bloomberg Sweden’s biggest grocery chain, ICA Gruppen, plans to go private at a $12.5 billion valuation, the latest in a wave of dealmaking to sweep through the European supermarket industry. ICA’s majority owner, comprising an association of 1,500 retailers, is looking to acquire all the shares it doesn’t already own, according to a statement. The group sees leaving the stock ...

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• 15 November

  Philippine’s Cebu Air hires cabin crew

  Bloomberg Cebu Air Inc resumed hiring cabin crew, anticipating a recovery in air-travel demand as the Philippines eases its coronavirus curbs. “The airline has reached out and encouraged former CEB cabin crew to apply as the airline gets ready for growth,” the Philippines’ largest budget carrier said in a statement. The airline unit of conglomerate JG Summit Holdings Inc has ...

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• 15 November

  Discount UK clothing chain Primark plans US store expansion

  

  Bloomberg Discount clothing chain Primark is sticking to its guns as a bricks-and-mortar retailer with plans to increase the store count by about a third, largely in the US, while most rivals focus on e-commerce. Parent company Associated British Foods Plc said it aims to raise the store total to 530 worldwide over the next five years, from 398 currently. ...

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• 15 November

  BOE policy U-turn shows up in market wagers once again

  

  Bloomberg Traders are betting the Bank of England (BOE) will rapidly raise borrowing costs before reversing course almost as quickly. Again. With inflation looking increasingly sticky, the BOE is expected to raise its key interest rate by 115 basis points over the next 18 months, according to money market pricing. Policy makers are likely to then be forced to unwind ...

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• 15 November

  Commerzbank CEO to cut management by 30%

  

  Bloomberg Commerzbank Chief Executive Officer (CEO) Manfred Knof is cutting management positions at Germany’s second-biggest listed bank by about 30% as part of his turnaround plans. The target is linked to an agreement with the company’s works council on how to implement deep job cuts which were first announced in February, the lender said in a statement. It didn’t say ...

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• 15 November

  ECB bond purchases may end next fall: Holzmann

  

  Bloomberg The European Central Bank (ECB) could stop buying bonds as early as next September if inflation looks to have sustainably returned to the official target, Governing Council member Robert Holzmann said. Introduced in 2015, the bank’s asset purchase program, or APP, was designed to get consumer-price growth back to 2%, according to Holzmann, who heads Austria’s central bank and ...

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