June, 2021

• 14 June

  Saudi stocks lead Mideast higher as oil extends gains

  

  Bloomberg Saudi Arabia’s equities index extended a winning streak to five sessions on Sunday, following another positive week for crude prices. The Tadawul All Share Index climbed 0.9%, with gauges in Bahrain, Oman, Kuwait, Qatar and Israel also rising. The index in Dubai finished little changed while and Egypt’s EGX 30 declined 0.9%. Oil, the main export for Gulf countries, ...

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• 14 June

  Vertical wins $4b pre-order contracts, plans to go public

  

  Bloomberg Vertical Aerospace Group Ltd, the developer of electric vertical takeoff and landing aircraft, won pre-order contracts of as much as $4 billion as it plans to go public through a merger with a blank-check company. American Airlines Group Inc, Virgin Atlantic Airways Ltd and aircraft lessor Avolon Holdings Ltd agreed to buy as many as 1,000 of the vertical ...

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• 14 June

  US air travellers top 2mn for first time in pandemic

  

  Bloomberg Daily US air travellers exceeded 2 million for the first time since the coronavirus pandemic began, reaching almost three-quarters of the volume recorded on the same day in 2019, according to the Transportation Security Administration (TSA). The total is part of a trend towards improving numbers since February, when vaccinations against the virus began to have an appreciable effect ...

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• 14 June

  KKR expands aircraft lending, buying $800m CIT portfolio

  

  Bloomberg KKR & Co has acquired an almost $800 million loan portfolio from CIT Group Inc as it seeks to expand its footprint in the aviation sector. The deal is part of the global investment firm’s launch of a new commercial aviation lending platform, AV AirFinance Limited, which will provide secured financing to airlines, lessors, manufacturers and investors. The purchase ...

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• 14 June

  Westons consider $5.7 billion Selfridges sale after approach

  

  Bloomberg The billionaire dynasty behind Selfridges & Co is considering a 4 billion-pound ($5.66 billion) sale of the British department store group following an approach from a potential buyer. The Weston family has asked Credit Suisse to advise on the future of the business, which includes the flagship emporium on London’s Oxford Street and stores operating under other names in ...

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• 13 June

  Swiss plan to reopen border for vaccinated int’l travellers

  Bloomberg Switzerland plans to reopen its borders for overseas visitors who have received a Covid-19 vaccine on June 28, joining other European countries easing entry rules imposed during the pandemic. Along with European Union countries, Switzerland has restricted travel from outside of Europe’s Schengen area as a result of the pandemic. With its vaccine drive accelerating and Covid-19 infections falling, ...

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• 13 June

  Alex, Ani files bankruptcy after expansion

  Bloomberg Jewellery maker Alex and Ani LLC, which operates dozens of stores, filed for Chapter 11 bankruptcy protection and put itself up for sale. The company said it entered into a restructuring agreement with debt and equity holders as it works to reorganise and boost its online and wholesale businesses. The retailer expects “little to no disruption” in operations. Alex ...

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• 13 June

  Canadians’ net worth surges on housing but renters left behind

  

  Bloomberg The coronavirus pandemic real-estate boom has made some Canadians richer, while others languish. The net worth of the nation’s households increased by about C$770 billion ($633 billion) in the first three months of 2021, a record 6% gain, to C$13.7 trillion, Statistics Canada said in a report. Since the start of 2020, that figure has increased by more than ...

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• 13 June

  Spending surge might be what stocks need to hit new heights

  

  Bloomberg Plans for the biggest corporate spending boom in more than a decade could be the next driver for stock markets trading at record highs. Last year’s prudence among companies is giving way to jubilant investment across a swath of industries, driven by economic reopenings, low interest rates and government support. Such a signal of confidence in the future is ...

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• 13 June

  European bank stocks lead rally after a decade of disappointment

  

  Bloomberg This time, it may be more than just another false dawn for European bank stocks. The worst performers among Europe’s equity markets in past decade have had occasional hot streaks, but with this year’s re-emergence of inflation promising an end to an era of near-zero interest rates, the sector is among the biggest gainers in 2021. The Stoxx 600 ...

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