December, 2021

• 29 December

  Commerzbank to cut ties with fossil-fuel firms

    Bloomberg Commerzbank AG is imposing more stringent policies for fossil-fuel clients as pressure mounts on the finance industry to stop providing capital to sectors at the heart of global warming. The German lender is giving existing clients that get at least 20 percent of revenue or power production from coal until 2025 to spell out how they’ll exit the …

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• 29 December

  Banxico hikes rates more than expected to tame inflation

  

    Bloomberg Mexico’s central bank unexpectedly accelerated the pace of interest rate increases, a hawkish move that seeks to contain quickly-deteriorating inflation expectations. Policy makers led by outgoing central bank Governor Alejandro Diaz de Leon raised the benchmark rate by a half-point to 5.5%, their most aggressive hike since February 2017. They surprised all but eight of 25 economists surveyed …

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• 29 December

  After 1,200% rally, Korea’s star tech stocks need staying power

  

    Bloomberg For equity investors in South Korea, this was the year the metaverse arrived. Six of the nation’s 10 best-performing stocks in 2021 are linked to the virtual universe or non-fungible tokens, including Wemade Max Co, which has surged 1,500% as it seeks to be a blockchain game developer, and its top holder Wemade Co Virtual effects creator Giantstep …

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• 29 December

  European stocks, US futures rise; Treasuries steady

  

    Bloomberg Stocks in Europe edged higher on Wednesday along with US equity-index futures as investors assessed the economic implications of the omicron coronavirus outbreak. Treasuries and the dollar were steady. The Stoxx Europe 600 index nudged to within a whisker of another record, with retailers outperforming. Technology shares declined, following the sector’s retreat in Asia and the US. Contracts …

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• 29 December

  Global remittances to rebound as economies recover, says ADB

  

    Bloomberg Global remittances will likely grow by $34 billion this year and about $31 billion in 2022, reversing last year’s decline, as economies recover from the impact of the coronavirus pandemic, according to the Asian Development Bank (ADB). Estimated remittance growth of 4.8% globally this year reflects a comparison to last year’s low base, as well as migrant workers’ …

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• 28 December

  US cancels 1,100 flights more due to snow storms, Covid rise

  

    Bloomberg Flight cancellations that disrupted US travel over the Christmas weekend stretched further, with winter storms further pressuring carriers that were already short-staffed because of spreading Covid-19 cases. About 1,160 US flights were cancelled on December 27 after more than 2,800 were dropped over the weekend, according to data from FlightAware.com. One of the hardest-hit carriers was Alaska Air …

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• 28 December

  Indonesia allows Boeing 737 Max jets to fly again

  

    Bloomberg Indonesia became the latest country to allow Boeing Co’s 737 Max planes back to its skies, joining Ethiopia in lifting the ban on the aircraft that crashed in both countries more than two years ago. The transport ministry will let airlines resume flying the aircraft in its territories after completion of the investigation process and improvements made to …

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• 28 December

  China service remains ‘fluid’ as plane turns back, says Delta Air

  

    Bloomberg Delta Air Lines Inc service to China “remains very fluid” after a flight to Shanghai from the US was turned back because of the procedures needed to clean and disinfect the airplane, the carrier said. The flight returned to Seattle in order “to be compliant with cleaning mandates required at Shanghai Pudong International Airport that were issued by …

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• 28 December

  Crocs drops most on $2.5b Heydude deal

  

    Bloomberg Crocs Inc tumbled the most in more than a year after agreeing to buy casual-shoe brand Heydude for $2.5 billion in an effort to bolster its fast-growing business of offbeat footwear. The purchase will be funded by $2.05 billion in cash and $450 million in Crocs shares issued to Heydude founder Alessandro Rosano, according to a statement. Crocs …

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• 28 December

  Hong Kong to make air cargo crew do 3-day hotel quarantine

  

    Bloomberg Hong Kong will mandate three-day hotel quarantines for air cargo crew, as the Asian city steps up efforts to prevent any local transmission of the contagious omicron Covid-19 variant. “We have to balance between the risk of infectious disease outbreaks and the cargo operation,” Edwin Tsui, controller of the Center for Health Protection, said at a press briefing …

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