June, 2021

• 30 June

  Boeing prepares safety measures for 737 jets

  

  Bloomberg Boeing Co is finalising a set of three safety enhancements to the engines on its popular 737 Next Generation models to prevent debris from escaping during a failure, according to US regulators. The Federal Aviation Administration (FAA) outlined the fixes in a letter to the National Transportation Safety Board (NTSB). The NTSB had recommended improvements in the engine designs …

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• 30 June

  A $27bn pile of debt looms over India’s new bad bank

  

  Bloomberg A bad bank in India that’s expected to launch this month may help reduce one of the world’s worst bad-loan piles but market participants say it’s a long path ahead. The new institution, which is set to start operations by the end of June, is likely to handle stressed debt worth $27 billion over time, according to a BloombergQuint …

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• 30 June

  HSBC loses four bond bankers as China spats hurt dealmaking

  

  Bloomberg HSBC Holdings Plc has lost about a third of its debt capital markets team covering Chinese state-owned enterprises, a sign the bank is still struggling to win back favor in Beijing three years after becoming embroiled in geopolitical spats between China and the West. The departures in recent weeks include two managing directors, John Hai and Jiang Song, who …

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• 30 June

  New Zealand central bank may stop buying QE bonds

  

  Bloomberg New Zealand’s central bank may end its quantitative easing bond purchases in coming months as it prepares to raise interest rates, according to the Bank of New Zealand. Financial markets are now pricing a better than 50% chance that the Reserve Bank will increase its official cash rate in November, BNZ strategist Nick Smyth wrote in a note to …

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• 30 June

  UBS to let two-thirds of staff adopt permanent hybrid work

  

  Bloomberg UBS group will permanently allow as many as two-thirds of its employees to adopt a hybrid model of working from home and the office, according to a person familiar with the plans, as it seeks a competitive recruitment edge over some US banks taking a more hardline approach. The lender’s move is being led by CEO  Ralph Hamers. The …

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• 29 June

  Korea’s Kakao Bank seeks $2.3bn in IPO

  Bloomberg Kakao Bank, the internet-only lender backed by South Korea’s Kakao Corp, plans to raise as much as $2.3 billion in an initial public offering, joining a rush by the nation’s companies to sell shares. The bank is selling 65.45 million new shares at between 33,000 won and 39,000 won apiece, according to a filing. At the top end of …

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• 29 June

  PBOC strikes positive tone as economy stabilises

  

  Bloomberg China’s central bank struck a more positive tone in its quarterly monetary policy meeting, saying the economy is showing more stability and improvement even though domestic and global risks remain. The monetary policy committee of the People’s Bank of China (PBOC) largely reiterated its stance to keep policy, liquidity and the exchange rate steady, according to a statement. It …

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• 29 June

  Tencent’s stock woes deepen as mainland investors turn sellers

  

  Bloomberg Tencent Holdings Ltd, which has lost more than a fifth of its market value in the past few months, now appears to be losing its biggest supporter: Chinese investors. Mainland traders have sold a net HK$11.2 billion ($1.4 billion) worth of Tencent shares so far in June, exchange data compiled by Bloomberg show. This would mark the first month …

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• 29 June

  Stocks mixed on Delta strain jitters; dollar advances

  

  Bloomberg Stocks were mixed and US futures fluctuated on Tuesday as concerns over a highly infectious Covid-19 strain spurred caution among investors. The dollar strengthened. The Stoxx Europe 600 Index traded modestly higher, though new limits on travel from Britain prompted by the Delta variant of the virus dragged on cruise operators and airlines. An MSCI index of Asia-Pacific shares …

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• 29 June

  Gold heads for worst month since 2016

  Bloomberg Gold headed for the biggest monthly drop in more than four years after the Federal Reserve sped up their expected pace of policy tightening, sending prices tumbling below $1,800 an ounce. The rise in US stocks to a fresh record and a resurgent dollar have also weighed on the precious metal. Investors are also assessing new travel restrictions in …

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