October, 2021

• 19 October

  MicroStrategy’s Bitcoin bet doubles to $6b as price soars

  Bloomberg MicroStrategy Inc appears to be one of the bigger beneficiaries from the euphoria surrounding the likely launch of Bitcoin ETFs, with the overall value of the company’s holding of the cryptocurrency doubling. The enterprise software firm held approximately 114,042 Bitcoin as of September 12, acquired at an aggregate purchase price of $3.16 billion and an average price of $27,713 …

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• 19 October

  Barclays trading boss saw $6b London Whale coming

  

  Bloomberg As an example of why investment banks should listen to their risk managers, CS Venkatakrishnan’s experience at JPMorgan Chase & Co is hard to top. Back in 2012, just weeks into a senior risk job at the Wall Street giant, his team flagged the potential for $6.3 billion of losses from a murky derivatives trade in London. The analysis …

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• 19 October

  Global bonds, stocks fall as inflation fears mount

  

  Bloomberg Global bond yields rose and most stocks fell on Monday as surging energy prices cemented worries about inflation and reinforced bets on policy tightening. Consumer and retail shares led declines in Europe’s Stoxx 600, with luxury companies slipping after publication of a Chinese presidential speech advancing tax legislation. US futures fell after the S&P 500 chalked its best week …

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• 19 October

  China’s yields jump to three-month high as easing bets dwindle

  

  Bloomberg China’s 10-year bond yield rose to the highest in three months as comments from central bank officials prompted traders to roll back some policy easing bets. The yield on China’s 10-year bond rose as high as 3.05%, crossing the 3% level for the first time since early July. Bond futures fell by the most in two months. Sun Guofeng, …

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• 18 October

  Supply chain chaos, rising costs to hit Europe profits

  

  Bloomberg Cost pressures, supply-chain chaos and a reopening letdown are set to plague Europe’s third-quarter earnings season, setting investors up for more disappointment than elation. While strong numbers from behemoths like LVMH and SAP SE reassured European stock investors last week, further good news may be needed to keep the rally alive. Rising inflation and a stalling global recovery pose …

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• 18 October

  Singapore promises power customer safeguards as retailers fold

  

  Bloomberg Singapore is offering assistance to power retailers and promising safeguards for customers as skyrocketing prices strain its nascent open electricity market. At least two power providers have announced they will cease retail operations after wholesale prices surged to a record last week. The government is offering help in hedging against volatility for those who want to continue operations, the …

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• 18 October

  Southwest asks court to reject effort to block Covid-19 shots

  

  Bloomberg Southwest Airlines Co asked a federal court to reject a request from its pilots to temporarily block the carrier from carrying out federally mandated coronavirus vaccinations, saying such an order would put the company’s business, employees and customers at risk. The Southwest Airlines Pilots Association (SWAPA) is seeking to stop the airline from moving ahead with the November 24 …

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• 18 October

  Ambani’s Reliance buys 40% stake in MM Styles

  

  Bloomberg Indian tycoon Mukesh Ambani bought a stake in a high-end fashion brand, run by a stylist to some of Bollywood’s biggest stars, as Asia’s richest person continues to expand into luxury retail. Reliance Brands Ltd bought 40% of MM Styles Ltd, which owns Manish Malhotra’s eponymous fashion house, the company said in a statement. The privately-held brand was launched …

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• 18 October

  Italia Trasporto Aereo gives itself one year to find investor

  

  Bloomberg Italia Trasporto Aereo (ITA), the state-owned successor to Alitalia, is positioning itself for an investment from a major airline that could come as soon as the end of next year, according to Chairman Alfredo Altavilla. The new Italian carrier, which started operations after its predecessor shut down, is too small to survive as a standalone company, Altavilla said in …

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• 18 October

  Hungary leads group offering $4.6b for Budapest Airport control

  

  Bloomberg A consortium led by Hungary’s government has offered about 4 billion euros ($4.6 billion) for full control of Budapest Airport, according to people familiar with the negotiations. The latest bid, after an earlier one this year was rejected as undervaluing the hub, is being considered by the airport’s owners, according to two people who asked not to be identified …

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