June, 2021

• 6 June

  Tesco’s female workers get EU boost in fight over equal pay

  

  Bloomberg Thousands of female Tesco Plc workers in the UK were handed a post-Brexit boost after the European Union’s top court said the bloc’s rules on equal pay for equal work can be invoked in supermarket pay cases. The UK’s largest retailer lost a ruling, which allows EU law to be taken into account when determining if predominantly female shop ...

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• 6 June

  France loosens entry rules for vaccinated EU travellers

  Bloomberg France will allow vaccinated travellers from the European Union to enter without showing negative Covid-19 tests starting from June 9, a move designed to ease travel before the traditional summer holiday season. The looser rules unveiled for one of the world’s top destinations will organise countries into three categories, with visitors from so-called “green” nations accepted with proof of ...

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• 6 June

  Lululemon outlook tops sales estimates

  Bloomberg Lululemon Athletica Inc posted first-quarter sales and an outlook for the full year that beat expectations as the company saw a pickup in brick-and-mortar traffic along with strong online sales. The yogawear company raised the annual guidance it issued in March. Revenue is now seen at about $5.825 billion to $5.905 billion this year, up from the previous range ...

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• 6 June

  Emerging-market stocks in pole position to gain as world reopens

  

  Bloomberg A bullish case is building for emerging-market stocks, which have trailed their developed-nation peers this year, with strategists saying the asset class is better positioned to benefit from a global reopening. There are already signs the gap is narrowing, with the MSCI Emerging Markets Index last month outperforming the MSCI World Index for the first time since January. Relatively ...

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• 6 June

  AMC drama exposes risks in $11 trillion world of indexing

  

  Bloomberg Index funds are supposed to cut out the human-driven craziness that periodically infects markets, but the recent meme-stock fever proved the $11 trillion industry is far from immune. The remarkable surge in shares of AMC Entertainment Holdings Inc and a handful of other stocks is showing up in multiple exchange-traded funds (ETFs), skewing portfolios, altering risk profiles and exerting ...

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• 6 June

  US-China trade relationship significantly imbalanced: Tai

  

  Bloomberg The trade relationship between the two largest economies in the world has “significant imbalance” and the Biden administration is committed to leveling it, according to the US trade representative. “There are parts of this trade relationship that are unhealthy and have over time been damaging in some very important ways to the US economy,” Trade Representative Katherine Tai told ...

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• 6 June

  India collected $14 billion as GST amid lockdowns in May

  

  Bloomberg India last month collected 1.03 trillion rupees ($14 billion) under the goods and services tax, lower than a record mop-up of 1.41 trillion rupees in April, as key cities remained under strict curbs to check the spread of new coronavirus infections. Revenue collection was 27% lower than April but remained above a trillion rupees for the eighth month in ...

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• 6 June

  Germany weighs taking part in Lufthansa capital increase

  

  Bloomberg Germany is leaning towards participating in Deutsche Lufthansa AG’s pending capital increase, according to people familiar with the matter, a move that would boost the airline’s plan to refinance its 9 billion-euro ($11 billion) bailout package. By subscribing to the rights offering, the government would limit dilution of its 20% shareholding, while increasing its chances of success, said the ...

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• 6 June

  Indian airlines will lose $8b due to Covid, says CAPA

  

  Bloomberg Indian carriers are expected to incur a loss of $8 billion by 2022 as the second Covid-19 wave puts any travel recovery on hold. IndiGo, India’s largest airline, and Air India Ltd will account for $4.5 billion of losses, CAPA Centre for Aviation said in its report India Airline Outlook for the fiscal year 2022. Indian carriers will need ...

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• 6 June

  Singapore Airlines says reserves sufficient for well into 2023

  

  Bloomberg Singapore Airlines Ltd said the S$6.2 billion ($4.7 billion) raised through convertible bonds, along with existing cash reserves, should cover its financial needs well into the year ending March 2023, according to a statement. The nation’s flagship carrier was responding to questions from the Securities Investors Association (Singapore) last month about whether it has considered privatisation. Singapore Airlines said ...

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