October, 2021

• 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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• 18 October

  China orders 5 airlines to halt some flights on virus cases

  Bloomberg China’s Civil Aviation Administration ordered five domestic and foreign airlines to suspend some flights from Monday after multiple coronavirus cases were found on board, it said. The carriers included Air China Ltd, which had six infections detected on an inbound flight from Frankfurt to the northeastern city of Changchun, the administration said in the statement. KLM Royal Dutch Airlines, …

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• 18 October

  Ikea sees shortages amid supply-chain crisis

  Bloomberg Swedish home-furnishings giant Ikea gave a bleak outlook for the retail industry, saying it expects shortages from the supply-chain crisis to remain an issue through the middle of next year. “The biggest challenge has been getting products out of China, where there has been a very limited capacity,” Chief Executive Officer Jon Abrahamsson Ring of Inter Ikea, the worldwide …

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• 18 October

  Stock bulls battle Fed, win with resolve that shocks skeptics

  

  Bloomberg Another time-honoured axiom is being put to the test in the post-pandemic stock market, the one that says don’t fight the Federal Reserve. Last week, anyway, optimism around everything from corporate earnings to Covid-19 counts and seasonal market trends put a muzzle on central bank-obsessed skeptics. The S&P 500 shook off the gloom of the last month to post …

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• 18 October

  Hong Kong muscles in on Singapore’s China stock futures monopoly

  

  Bloomberg Hong Kong is starting futures contracts that make it easier for international investors to bet on mainland Chinese stocks, intensifying rivalry between the city’s bourse and its Singapore counterpart. Analysts expect that the new product, which launches on Monday, from Hong Kong Exchanges & Clearing Ltd could take several years to gain traction, but that it will ultimately provide …

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• 17 October

  Saudi stocks lead Mideast gains as oil surpasses $85

  Bloomberg Stocks in the Middle East picked up on the rally across global markets as oil’s gains through $85 a barrel emboldened investors. “GCC markets are taking cues from the positive performance in global equity markets,” said Junaid Ansari, head of investment strategy and research at Kamco Invest. “Moreover, oil is now trading at close to eight-year high levels. This …

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• 17 October

  Oil’s jump through $85 shows spillover effect of energy crisis

  

  Bloomberg The global energy crisis is bleeding into the oil market. Brent crude surged as high as $85.10 a barrel, a price that would have seemed unthinkable just 18 months ago, when Covid halted global mobility and trashed demand. An underlying recovery in consumption — driven by road-fuel, freight activity, and latterly air travel — is now being fired by …

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• 17 October

  UN condemns ‘despicable’ suicide attack on mosque in Afghanistan

  NEW YORK / WAM The United Nations has condemned the deadly suicide bombing during Friday prayers at a mosque in the city of Kandahar, in southern Afghanistan, which killed at least 30 people and wounded dozens more. UN Secretary-General António Guterres condemned the attack in the strongest terms, describing it as “despicable”, said a statement. “The perpetrators of this latest …

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• 17 October

  Former Boeing pilot charged with fraud in 737 Max probe

  

  Bloomberg A former Boeing Co pilot was charged with deceiving US aviation regulators in the first prosecution related to two fatal 737 Max accidents that plunged the aviation titan into crisis. Mark Forkner, a former chief technical pilot for the company, was indicted on charges that he deceived the Federal Aviation Administration’s (FAA) Aircraft Evaluation Group during the agency’s evaluation …

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