September, 2021

• 27 September

  BOE could raise rates twice by May next year

  Bloomberg The Bank of England (BOE) could raise interest rates twice by May to curb a surge in inflation, but that largely depends on how high unemployment rises after the end of the government’s furlough program, according to Bank of America Merrill Lynch. “Furlough-end remains key,” BofA economist Robert Wood said. “If it goes well, or the BOE feels pressured ...

  Read More »
• 27 September

  Crypto exchange giants cut back on China users as ban widens

  

  Bloomberg Two of the world’s largest Bitcoin exchanges have halted new registrations for Chinese users and one will retire current accounts, taking actions to comply with Beijing’s latest crypto ban. Exchange operators Huobi and Binance have stopped letting traders use mainland China mobile numbers to register new accounts, after the People’s Bank of China (PBOC) said all crypto-related transactions will ...

  Read More »
• 27 September

  Prudential plans to raise $2.4bn from Hong Kong offering

  

  Bloomberg Prudential Plc plans to raise as much as $2.4 billion from its Hong Kong share offering after pricing the stock at a slight discount to its last close in Hong Kong. The London-based insurer is selling up to 130.8 million shares at HK$143.80 apiece, it said in a statement. Prudential plans to use proceeds from the offering to redeem ...

  Read More »
• 26 September

  Oil posts fifth weekly gain as global markets tighten

  

  Bloomberg Oil rises for the fifth straight week with the global energy crunch set to boost demand for crude as stockpiles decline from the US to China. Futures in New York gained 2.8% this week. The global benchmark Brent settled at the highest in nearly three for the second day in a row. Global onshore crude supplies sank by almost ...

  Read More »
• 26 September

  Energy crisis puts world’s most ambitious climate plan to test

  

  Bloomberg The record spike in energy prices could hardly have come at a worse time for Europe’s ambitious new climate plan, with politicians just beginning to talk about how they’re going to implement the world’s most sweeping emissions-cutting strategy. The energy crisis is threatening double-digit increases in consumer electricity bills months before the winter freeze and it’s also squeezing industrial ...

  Read More »
• 26 September

  British Airways drops Gatwick plan, escalating union standoff

  

  Bloomberg British Airways (BA) dropped plans to set up a new, lower-cost unit at London Gatwick airport, setting up a high-stakes showdown with its pilots union, which balked at new contract terms. The airline has insisted on setting up a separate division for the short-haul business even though it would remain branded as BA, the flagship of the IAG SA ...

  Read More »
• 26 September

  ‘Chinese airlines may buy 8,700 new jets by 2040’

  

  Bloomberg Boeing Co expects Chinese airlines will need 8,700 new aircraft for a total of $1.47 trillion by 2040, doubling the country’s commercial fleet size as air travel booms. China’s demand for wide-body aircraft is likely to account for 20% of global deliveries, according to the US manufacturer’s Commercial Market Outlook. China’s civil aviation industry will also need more than ...

  Read More »
• 26 September

  Airbus’s production ramp-up ‘curbed’ by supply-chain woes

  

  Bloomberg Airbus SE’s push to quickly scale up production as air travel recovers from the Covid-19 pandemic is testing suppliers that have struggled to hire enough workers and secure raw materials. Back in May, the European planemaker said it would increase output of its best-selling A320 family of aircraft to 45 per month by the fourth quarter of 2021, rising ...

  Read More »
• 26 September

  United fined $1.9m for tarmac delays

  

  Bloomberg United Airlines Holdings Inc must pay $1.9 million in fines for stranding passengers on the tarmac for extended periods of time, the government announced. United kept onboard more than 3,200 passengers on 20 domestic flights and five international flights from 2015 through last February for at least three hours, the Department of Transportation said in a release. The department ...

  Read More »
• 26 September

  Nordic Aviation creditors all set to take stake in jet lessor

  Bloomberg Creditors of Nordic Aviation Capital AS are one step closer to taking control of the company, one of the world’s largest aircraft lessors. Nordic Aviation and its biggest creditor groups have reached an agreement on the outline terms of the company’s restructuring framework, according to a statement. The deal, in principle, includes the conversion of “a substantial amount of ...

  Read More »