September, 2021

• 9 September

  Federer-backed On to raise $622m in IPO

  Bloomberg Swiss running shoemaker On Holding AG, whose proprietary cushioning technology has attracted Roger Federer as an investor, plans to raise as much as $622 million in an initial public offering in New York. The IPO will consist of 31.1 million shares sold at $18 to $20 each, the Zurich-based company said in a filing. The sale would value the ...

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• 8 September

  Stocks drop most in three weeks on economy, ECB risk

  

  Bloomberg European shares dropped amid a blurred outlook for global growth, as investors await Thursday’s update from the European Central Bank (ECB). The Stoxx Europe 600 Index was down 1.1% as of 9:01 am in London, trading at its lowest level since August 19 as automakers, banks and industrials led losses. Miners and technology outperformed, but all sectors were lower. ...

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• 8 September

  Bitcoin’s latest fall brings key technical levels into play

  

  Bloomberg Bitcoin’s slump following El Salvador’s troubled rollout of the largest cryptocurrency as legal tender has put several key technical levels into focus that could point to greater losses ahead. The virtual coin was trading at about $44,900 as of 9:15 am in London, having slid as much as 17% a day earlier before paring some of the losses while ...

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• 8 September

  Bahrain’s cashless payments surge to $3.62b in H1, 2021

  

  Manama / Emirates Business The number of POS and Ecommerce transactions in Bahrain shot up by 65% in August, year-on-year, reaching a total value of nearly $744 million during the month, after topping $3.62 billion in the first half of 2021, the Central Bank of Bahrain (CBB) revealed on Tuesday. According to new figures from the CBB, there were more ...

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• 8 September

  Neptune considers merger with its rival Harbour Energy

  

  Bloomberg Neptune Energy Group Ltd, the private equity-backed explorer, is considering options including a merger with Harbour Energy Plc that could create one of Europe’s largest independent oil and gas companies, people familiar with the matter said. Neptune, part-owned by Carlyle Group Inc and CVC Capital Partners, is working with an adviser as it studies a potential combination with London-listed ...

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• 8 September

  Sinopec profit surges on Chinese fuel, plastics demand

  Bloomberg China Petroleum & Chemical Corp, commonly known as Sinopec, returned to profit in the first half as the nation’s recovery from the pandemic boosted demand for the refiner’s transport fuels and plastics. Asia’s biggest oil refiner posted a net profit of $6.2 billion, compared with a loss of 21.8 billion yuan a year ago, the company said in a ...

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• 8 September

  Lufthansa seeks bailout deal before Merkel exits office

  

  Bloomberg Deutsche Lufthansa AG is seeking to secure a deal on how Germany will wind down its investment in the airline before Angela Merkel’s government leaves office, a moment that could see a less sympathetic coalition sweep to power. The comments by Chief Executive Officer Carsten Spohr amount to an admission that his previous deadline of repaying the remainder of ...

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• 8 September

  Qantas to test new routes as countries reopen again

  

  Bloomberg Qantas Airways Ltd is likely to fly to several new overseas destinations next year after pushing ahead with plans to resume international flights from December. “We’ll probably try a lot of new routes internationally as certain borders open up,” Chief Executive Officer Alan Joyce said at a virtual business conference on Tuesday, without giving any specific destinations. Prior to ...

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• 8 September

  Ryanair ends talks with Boeing on 737 Max order over price

  

  Bloomberg Ryanair Holdings Plc ended negotiations with US planemaker Boeing Co on a major follow-on order for 737 Max aircraft after failing to agree on pricing. Talks on the higher-capacity Max 10 single-aisle jets ended after 10 months, Ryanair said in a statement. Europe’s largest low-cost carrier has ordered 210 of the smaller Max-8200 already, with deliveries spanning the next ...

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• 8 September

  Ikea faces shortages in UK, Ireland amid supply crunch

  Bloomberg Ikea is experiencing product shortages in the UK and Ireland as transport issues and the availability of raw materials compound supply problems. Issues with shipping, raw materials, and sourcing and production have added to the impact of the Covid-19 pandemic on global supply chains, the Swedish furniture retailer said on its UK and Irish websites. The company is experiencing ...

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