August, 2021

• 17 August

  BHP nears oil, gas exit over climate scrutiny

  Bloomberg BHP Group is in talks over a potential merger of its oil and gas unit with Woodside Petroleum Ltd to accelerate a retreat from fossil fuels amid increasing pressure to curb emissions. Options being discussed include a distribution of Woodside shares to BHP holders to allow the Australian energy firm to add operations spanning Australia to the Gulf of …

  Read More »
• 17 August

  Spring Air bets on post-Covid tourism boom in China, Japan

  

  Bloomberg Spring Airlines Co and Japan Airlines Co are anticipating a post-pandemic tourism boom between China and Japan for their joint-owned budget carrier, even though Japan still lags behind major economies in reopening its borders. Spring Airlines Japan Co had operated seven routes from Narita to Shanghai, Tianjin, Nanjing, Wuhan and other cities, but five of them were suspended due …

  Read More »
• 17 August

  Tim Hortons China to list in $1.7b Silver Crest SPAC deal

  

  Bloomberg The company running the Chinese business of iconic Canadian coffee shop chain Tim Hortons agreed to go public through a merger with blank-check company Silver Crest Acquisition Corp. The transaction will give Tim Hortons China a Nasdaq listing and value the business at about $1.69 billion including debt, Silver Crest said in a regulatory filing, which confirmed an earlier …

  Read More »
• 17 August

  Consumer sentiment in US plunges to lowest since 2011

  

  Bloomberg US consumer sentiment fell in early August to the lowest level in nearly a decade as Americans grew more concerned about the economy’s prospects, inflation and the recent surge in coronavirus cases. The University of Michigan’s preliminary sentiment index fell by 11 points to 70.2, the lowest since December 2011, data released showed. The figure fell well short of …

  Read More »
• 17 August

  Branson sells $300m stake in Virgin Galactic

  

  Bloomberg Richard Branson sold about $300 million in Virgin Galactic Holdings Inc stock, tapping his biggest listed asset again to prop up his business empire during the pandemic. The billionaire offloaded almost 10.5 million shares — about 4% of the space-travel company — through a company he controls, leaving him with an 18% stake, according to a regulatory filing. The …

  Read More »
• 17 August

  Sydney Airport willing to talk sale as investor prods board

  

  Bloomberg Sydney Airport said it’s prepared to hold discussions with suitors over a takeover offer of more than $16.8 billion as the company’s largest shareholder agitated for negotiations to start. The airport said it’s “open to engaging” with the bidders, led by IFM Investors, if they make an offer that reflects “long-term value.” At the same time, Sydney Airport rejected …

  Read More »
• 16 August

  Bank of Thailand head says virus fight may need $30bn

  

  Bloomberg Thailand’s central bank governor called for an additional 1 trillion baht ($30 billion) in government spending to counter coronavirus, saying the blow to the economy from the pandemic is greater than from the Asian financial crisis in 1997. The government can fund additional spending by borrowing more, Bank of Thailand Governor Sethaput Suthiwartnarueput said on Monday at a briefing …

  Read More »
• 16 August

  China’s central bank rolls over more policy loans to boost growth

  

  Bloomberg China’s central bank rolled over most of its medium-term policy loans coming due, a move to support economic growth amid a resurgence of Covid cases. Government bonds reversed earlier losses. The People’s Bank of China (PBOC) injected 600 billion yuan ($92.6 billion) into the financial system through its medium-term lending facility, close to the 700 billion yuan maturing Tuesday. …

  Read More »
• 16 August

  New Zealand to hike rates to cool overheating economy

  

  Bloomberg New Zealand is set to raise interest rates this week, the first advanced economy in the Asia-Pacific to begin normalizing policy, as a powerful recovery unhindered by delta outbreaks shows signs of overheating. The Reserve Bank of New Zealand (RBNZ) will lift the official cash rate by a quarter percentage point to 0.5% at its review Wednesday in Wellington, …

  Read More »
• 16 August

  Bank of America, Perella lift junior-banker salaries

  

  Bloomberg Bank of America Corp (BofA) is boosting base salaries for junior bankers, joining firms including Perella Weinberg Partners and Evercore Inc in lifting pay to lure young talent on Wall Street. At Bank of America, first-year analysts across the global corporate and investment banking, markets, and research divisions will receive $100,000, up from $95,000, according to a person with …

  Read More »