September, 2021

• 12 September

  Airlines pare guidance as investors show relief it’s not worse

  

  Bloomberg A surge in coronavirus infections is delaying, but not derailing, the recovery at several US carriers, including United Airlines Holdings Inc and Southwest Airlines Co. Most major carriers said customer bookings have slowed in recent weeks, signalling through regulatory filings and comments at an industry conference that the path out of the Covid-19 era remains bumpy. Even so, several …

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• 12 September

  Ryanair says Brexit forces sale of 1mn investor shares

  Bloomberg Ryanair Holdings Plc is forcing investors who aren’t European Union citizens to sell any shares purchased after January 1, in a reminder of the lingering constraints on investors tied to the Brexit split. Non-EU citizens have been barred from buying stock in the Irish discount airline since the UK left the bloc at the start of the year. When …

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• 12 September

  Cathay Pacific to close London pilot base

  Bloomberg Cathay Pacific Airways Ltd has decided to close its pilot base in London, saying many of its staff there haven’t had any flying duties since April 2020 because of the impact of the pandemic. The airline didn’t disclose how many pilots would be affected, but said in a statement they are being offered the option of relocating to Hong …

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• 12 September

  PBOC turns to niche policy tool to support economy

  

  Bloomberg China’s central bank is increasingly making use of one of its lesser known monetary policy tools to support the economy, a move that analysts say suggests less need for broad policy action like interest rate cuts. The People’s Bank of China (PBOC) is turning to its relending program, providing loans to commercial banks for lending to customers. The funds …

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• 12 September

  SNB’s Zurbruegg says negative rates key to prevent rise in franc

  

  Bloomberg The Swiss National Bank’s (SNB) negative interest rates remain essential to prevent a rise in the franc that thwart economic growth, Vice President Fritz Zurbruegg told Sonntagszeitung in an interview. Although the SNB will raise borrowing costs when necessary, “at the moment we need the negative interest rates due to the situation globally,” he said. “If we were to …

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• 12 September

  Nigeria’s central bank probes lenders over currency deals

  

  Bloomberg Nigeria’s central bank says it’s investigating the foreign-exchange transactions of lenders operating in the country. Following “recent occurrences in the market,” the central bank of Nigeria “would like to remind banks to desist from all and any forms of FX malpractices,” the regulator said in a statement. Any lenders “found culpable with ongoing investigations” could have their foreign-exchange operating …

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• 12 September

  Citi’s Adi Jayaraman to lead Evercore’s fintech banking

  Bloomberg Evercore Inc has hired Adi Jayaraman from Citigroup Inc for its financial technology investment banking business. Jayaraman will be a senior managing director leading fintech based in New York. Evercore has boosted its technology investment banking business in the past few years. The boutique investment bank was named exclusive financial adviser to Nuance Communication Inc on its pending sale …

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• 12 September

  Bank of Canada plans to raise interest rates

  

  Bloomberg The Bank of Canada released guidance for the first time on how it plans to eventually reduce monetary stimulus, saying it will first raise interest rates before curbing its holdings of government bonds. Governor Tiff Macklem provided details on what he called central bank’s “monetary policy for the recovery.” Macklem reiterated the bank intends to bring its bond purchases …

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• 12 September

  UniCredit seeks better terms on Amundi deal

  Bloomberg UniCredit SpA is seeking to renegotiate a five-year-old deal with Amundi SA to distribute asset management products, in a further sign of Chief Executive Officer Andrea Orcel’s drive to reshape Italy’s second-largest lender. Orcel aims to improve the terms of an accord stemming from the purchase by the French asset manager of UniCredit’s Pioneer Global Asset Management unit that’s …

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• 12 September

  Sri Lanka central bank chief quits amid reserves crisis

  

  Bloomberg Central Bank of Sri Lanka Governor Weligamage Don Lakshman will step down on September 14 as the nation faces a deepening forex crisis that threatens its ability to import goods and service debt. His announcement comes as the South Asian island nation faces dwindling reserves and revenues, looming debt repayments and struggles with an extended lockdown to stem record …

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