November, 2021

• 25 November

  Travel rebound threatened by European lockdowns: Ryanair

  

  Bloomberg Ryanair Holdings Plc Chief Executive Officer Michael O’Leary said steps aimed at containing spiraling coronavirus infection rates in Europe are putting the region’s travel rebound at risk. Measures including a return to lockdown conditions in Austria mean airlines face a “fraught” period through Christmas as they wait to see whether a resurgence in demand will be strangled off, O’Leary …

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• 25 November

  India’s SpiceJet considers capital raising, cargo split

  

  Bloomberg SpiceJet Ltd is reducing liabilities and considering raising capital after the damage caused by Covid-19, and has agreed compensation from Boeing Co for the grounding of 737 Max jets, Chairman Ajay Singh said. The budget carrier, which suffered as Covid halted air travel in India, aims to cut liabilities by as much as $300 million over six months and …

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• 25 November

  Air Canada to settle US flight refund in $4.5m settlement

  

  Bloomberg Air Canada has agreed with US aviation regulators to pay $4.5 million to settle charges that it didn’t properly give refunds to US travellers when it cancelled or altered flights during the Covid-19 pandemic. The settlement between the airline and US Department of Transportation — which must be approved by an administration law judge — would be the largest …

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• 25 November

  Nordstrom plunges in Q3 over poor inventory issues

  Bloomberg Nordstrom Inc said poor inventory planning at its off-price Rack stores dragged on revenue growth in the third quarter, a problem company executives said they were working to address heading into the holiday season. Sales at the Rack division were 8% below where they were before the pandemic. Revenue at the company overall was down 1% in the same …

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• 25 November

  Retailers sound alarm on theft as US states warn of rise

  

  Bloomberg Retailers say shoplifting is getting more brazen in the US: A California Nordstrom store was recently hit by a flash mob of more than 80 people who made off with designer goods, while more than a dozen people pilfered from a Louis Vuitton location in a suburb of Chicago. The impact of shoplifting reached Wall Street, with Best Buy …

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• 25 November

  Gap cuts outlook over supply-chain woes

  Bloomberg Gap Inc lowered its projection for 2021 sales and profit as supply-chain bottlenecks led to lost sales and higher expenses. The shares fell in trading. Gap now sees revenue growing about 20% for the full year — down from its previous projection of a 30% gain. Analysts had projected revenue to be 28% higher this year, according to estimates …

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• 25 November

  HSBC launches ESG indices that screen firms for biodiversity risk

  

  Bloomberg Investors looking for ESG strategies have been handed a new group of indexes promising to focus on biodiversity by excluding companies that are found to pose a threat to nature. The Euronext ESG Biodiversity Screened Index series by HSBC Holdings, developed the product together with Euronext NV and Iceberg Data Lab SAS. The idea is to bring liquidity to …

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• 25 November

  Atom Bank moves to four-day work week without cutting pay

  

  Bloomberg Atom Bank has moved to a four-day working week, one of the most dramatic flexible working policies introduced by a finance firm since the pandemic upended office norms. The UK fintech, which has 430 employees, moved to a four-day week, the digital lender said in a statement. Contractual working hours will be reduced by 3.5 hours to 34 hours …

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• 25 November

  Australia will closely monitor risk premiums to detect asset bubbles

  

  Bloomberg Australia’s central bank will closely monitor risk premiums to judge whether asset prices appear “sensibly valued,” especially at a time of record low interest rates, said Marion Kohler, head of the domestic markets department. “Asset prices increase when risk-free rates are low, and this is part of the monetary transmission mechanism,” Kohler said in the text of a speech. …

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• 25 November

  DBS faces second day of digital banking outages

  Bloomberg DBS Group Holdings Ltd is facing a second day of outages in its online banking services, marking one of the worst digital disruptions for Southeast Asia’s biggest lender in a decade. The disruptions in DBS’s digital services — an area where the Singapore-based bank has invested in heavily — started early Tuesday and resurfaced on Wednesday. The problems stemmed …

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