October, 2021

• 26 October

  HSBC upgrades China stocks to overweight in rebuff to bears

  

  Bloomberg HSBC Holdings Plc analysts upgraded their call on Chinese stocks to overweight, saying investors had become too bearish on a market that now offers value in real estate, industrials, healthcare and some banks. “We think the baby is being thrown out with the bathwater,” Herald van der Linde, the bank’s head of equity strategy for Asia Pacific and colleagues …

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• 25 October

  Emerging-market stocks roar higher on signs of best earnings

  

  Bloomberg Investors in emerging-market stocks are finally getting rewarded, as promising signs for company earnings prompt the longest weekly rally since June. For the first time in three years, developing-nation companies are beating profit forecasts, with average earnings coming in 3.6% above analysts’ projections, according to data compiled by Bloomberg. That helped to deliver a third week of gains for …

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• 25 October

  Alibaba has lost $344b in world’s biggest wipeout

  

  Bloomberg Few people could have predicted the downward spiral for Alibaba Group Holding, when founder Jack Ma delivered a blunt criticism of China’s financial system last October. Yet one year on, the technology titan has lost a whopping $344 billion in market capitalisation — the biggest wipe-out of shareholder value globally, according to data compiled by Bloomberg. Shortly after the …

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• 25 October

  Japan to miss target with $7.4b postal stake sale

  Bloomberg The Japanese government will raise 843 billion yen ($7.4 billion) from the sale of Japan Post Holdings Co shares — about $1 billion short of its original target — in the ongoing privatisation of the postal and financial-services giant. Shares in the secondary share sale were priced at 820.6 yen apiece, according to a statement, marking a 2% discount …

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• 25 October

  Saudi to use $110b gas field for blue hydrogen

  

  Bloomberg Saudi Arabia said it would use one of the world’s biggest natural-gas projects to make blue hydrogen, as the kingdom steps up efforts to export a fuel seen as crucial to the green-energy transition. A large portion of gas from the $110 billion Jafurah development will be used for blue hydrogen, according to Energy Minister Prince Abdul Aziz bin …

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• 25 October

  India wants compensation for climate damages by rich nations

  

  Bloomberg India is seeking payment for the losses caused by climate disasters, its environment ministry said while laying out the country’s positions on critical issues that will be negotiated at the United Nations’ COP26 climate summit in the coming weeks. “Our ask is this: there should be a compensation for expenses incurred, and it should be borne by developed nations,” …

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• 25 October

  SK plans to cut carbon emissions by 2030

  Bloomberg South Korean conglomerate SK Group plans to reduce carbon emissions by 200 million tons by 2030, as it increases investments in green technologies. The company will initially cut 50 million tons of emissions through enhancing efficiency in its processes and purchasing renewable energy, Chairman Chey Tae-won was quoted as saying in a statement. SK will also invest more than …

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• 25 October

  Latam Air’s creditors seek mediation on bankruptcy

  

  Bloomberg Two key groups of Latam Airlines Group SA creditors, frustrated by a bankruptcy process that has dragged on for almost 18 months, are asking for a mediator to help devise an exit plan for the Chilean carrier. The airline’s unsecured creditors and a consortium holding billions of dollars in claims complained about the lack of progress and asked the …

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• 25 October

  Ryanair sued for holiday ‘campaign’ against rivals

  

  Bloomberg Ryanair Holdings Plc was sued by a package holiday service over accusations that the airline is exploiting its market dominance in an “aggressive” pursuit against online travel agents. On the Beach Group Plc accused the budget airline of monopolising the market for booking services and not giving customers a “free and fair choice,” according to a London court filing. …

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• 25 October

  Qantas ramps up with flights to India, Singapore, Phuket

  

  Bloomberg Qantas Airways Ltd is gearing up for a Christmas rush, bringing back all its Australian workers and adding flights as the nation’s borders reopen after more than 18 months of near-isolation. The airline will start its first commercial flights between Australia and India in almost a decade before Christmas, and flights to Singapore, Bangkok, Fiji, Phuket and Johannesburg will …

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