June, 2021

• 6 June

  Fashion retailer About You seeks $732m in German IPO

  Bloomberg E-commerce fashion retailer About You is seeking at least 600 million euros ($732 million) in a Frankfurt listing, betting demand for its party outfits will pick up as lockdowns ease across Europe. The company is looking to list shares on the Frankfurt Stock Exchange in the second quarter, it said in a statement. The initial public offering will include ...

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• 6 June

  Instacart bets on robots to shrink ranks of gig shoppers

  

  Bloomberg Instacart Inc has an audacious plan to replace its army of gig shoppers with robots—part of a long-term strategy to cut costs and put its relationship with supermarket chains on a sustainable footing. The plan, detailed in documents reviewed by Bloomberg, involves building automated fulfillment centres around the US, where hundreds of robots would fetch boxes of cereal and ...

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• 6 June

  Nestle eyes health strategy update

  Bloomberg Nestle SA is working to update its nutrition and health strategy as the world’s largest food company faces criticism over unhealthy products. Nestle is assessing its food and beverage portfolio against external nutrition profiling systems, such as Health Star Rating and Nutri-Score, that help consumers make more informed choices, the maker of KitKat chocolate said in an emailed statement. ...

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• 6 June

  India central bank expands QE as growth seen faltering

  

  Bloomberg India’s central bank expanded its version of quantitative easing (QE) and lowered its economic growth forecast as the world’s worst Covid-19 wave sweeps through the nation. The Reserve Bank of India (RBI) will buy an additional 1.2 trillion rupees ($16.4 billion) of bonds next quarter under the so-called Government Securities Acquisition Program 2.0, Governor Shaktikanta Das said. The program ...

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• 6 June

  BofA, Goldman boost Brazil growth bets after solid Q1

  

  Bloomberg Analysts from Goldman Sachs Group Inc and Bank of America Corp (BofA) see Brazil’s economy growing faster this year after a better-than-expected first quarter that was driven by investment and booming agriculture. Goldman increased its growth forecast for Latin America’s largest economy to 5.5% from 4.6%, while BofA raised its projections to 5.2% from 3.4%. “Concerns about the slowdown ...

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• 6 June

  UBS, Credit Suisse need to raise liquidity: Switzerland

  

  Bloomberg The Swiss government said that existing liquidity requirements for the country’s systemically important banks, including UBS Group AG and Credit Suisse Group AG, are not enough. An analysis of the country’s most important banks revealed that the liquidity requirements currently imposed would probably not be enough to cover liquidity needs in an emergency or in a default event, the ...

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• 6 June

  HSBC plans to split oversight of Asia between two co-heads

  

  Bloomberg HSBC Holdings Plc plans to split the job of overseeing its key Asian business as the bank’s regional boss Peter Wong prepares to step down from the role. Europe’s largest lender plans to appoint Wong’s protege, David Liao, and the chief executive of its Indian business, Surendra Rosha, as joint heads of its Asian arm this year, people familiar ...

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• 6 June

  Deutsche’s DWS, Generali vies for NN’s asset manager

  Bloomberg DWS Group and Assicurazioni Generali SpA are among suitors that submitted initial bids this week for the asset management arm of NN Group NV. The unit, known as NN Investment Partners, has separately attracted early interest from UBS Group AG and Allianz SE, the people said. Several other international asset managers, including some US firms, are also pursuing a ...

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• 6 June

  BOE says its rate setters discussed climate for first time

  

  Bloomberg Bank of England (BOE) Governor Andrew Bailey said that the central bank’s Monetary Policy Committee recently discussed the economics of climate change for the first time, underscoring the UK commitment to slashing emissions. “When it comes to climate change, we cannot stand still,” Bailey said in a speech to a Bank of International Settlements conference on the issue. “We ...

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• 6 June

  Apple readies IPad Pro with wireless charging, new IPad mini

  

  Bloomberg Apple Inc is working on a new iPad Pro with wireless charging and the first iPad mini redesign in six years, seeking to continue momentum for a category that saw rejuvenated sales during the pandemic. The Cupertino, California-based company is planning to release the new iPad Pro in 2022 and the iPad mini later this year, according to people ...

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