September, 2021

• 1 September

  Wells Fargo risks regulatory action over pace of restitution

  

  Bloomberg Five years into scandals that have already cost Wells Fargo & Co more than $5 billion in fines and legal settlements, regulators are privately signaling they’re still not satisfied with the bank’s progress in compensating victims and shoring up controls. The Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau have warned the firm they …

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• 1 September

  European stocks rise as investors keep faith in economic rebound

  

  Bloomberg European equities advanced the most in a month on Wednesday as investors bet the global economic rebound would persist even as central banks prepare to scale back support. The Stoxx Europe 600 Index was up 0.9% at 9:50 am in London to be within 0.3% of an historical peak. Retail and travel and leisure were among the best performers, …

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• 1 September

  Hot India property stocks seen extending run on demand surge

  

  Bloomberg Recent weakness in India’s red-hot property stocks could be short-lived as record low interest rates and an economic recovery from the pandemic fuel demand from an increasingly affluent middle class. That’s the view from market watchers, who see large listed firms emerging as biggest beneficiaries amid an ongoing consolidation in $200 billion sector. While the S&P BSE Realty Index …

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• 1 September

  Jardine’s Singapore stocks dropped $5bn

  Bloomberg Jardine Matheson Holdings Ltd group stocks have turned from some of Singapore’s best performers to the worst this year amid a resurgence of coronavirus infections in Southeast Asia. Shares of the venerable trading firm, which gets more than half of its annual revenue from Southeast Asia, dropped 8.6% last month, ranking it among the worst performers on the Straits …

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• 1 September

  India, Bahrain celebrate 50 years of diplomatic ties

  

  DELHI / WAM India and Bahrain are celebrating this year the golden jubilee of their diplomatic relations, India’s Ministry of External Affairs said in a press release. Coinciding with this important occasion, V Muraleedharan, India’s Minister of State for External Affairs, began a three-day visit to Bahrain. On the first day of his visit, Muraleedharan met with Abdullatif bin Rashid …

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• 1 September

  Back-to-school blues hit airlines bracing for winter

  

  Bloomberg European airlines hoping to extend the holiday season are running up against the start of the school year that’s denting family bookings, while the spread of the delta variant of Covid-19 prompts new travel curbs. Carriers including Ryanair Holdings Plc are keeping prices low to prolong leisure demand through October. The airline is also beefing up winter timetables in …

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• 1 September

  Southwest bumps hiring goal 16% in an effort to cut delays

  

  Bloomberg Southwest Airlines Co increased the number of workers it wants to hire by 16% to 5,200, part of an effort to ease flight disruptions and reduce overtime, even as the carrier pares service. The airline wants to add the new employees by the end of November to reduce delays and cancellations, Chief Executive Officer Gary Kelly said. It has …

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• 1 September

  Japan’s H2O nears deal to buy Kansai’s stake

  

  Bloomberg Japanese department store operator H2O Retailing Corp said on Tuesday it will increase its stake in grocery store owner Kansai Super Market Ltd and make it a subsidiary. H2O said in a statement that it will buy newly-issued and existing shares from Kansai Super Market until it owns a 58% stake in the company, which will remain listed. H2O …

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• 1 September

  Jewellery firm Brilliant Earth adds to year’s US IPO rush

  

  Bloomberg Digital-first jewellery company Brilliant Earth Group Inc filed for an initial public offering, leading a flurry of planned listings. The San Francisco-based company in its filing listed the size of the offering as $100 million, a placeholder that will change when terms of the share sale are set. Amplitude Inc, saying it’s pioneering a new category it calls digital …

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• 1 September

  Covid-19: Hong Kong retail growth slows again in July

  Bloomberg Hong Kong’s retailers saw consumption growth slow more than expected in July as social distancing measures to control the virus continued to constrain spending and local shoppers awaited the arrival of electronic vouchers the following month. Retail sales value was HK$27.2 billion ($3.5 billion), up 2.9% from a year ago, according to a government report. That’s well short of …

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