May, 2021

• 23 May

  Stock market’s million little dramas come down to a supply glut

  

  Bloomberg Angst has been the stock market story of late. It soars, it plunges, and all the while investors fret over sky high valuations and pour over data to figure out when inflation will bring the house of cards crashing down. But sometimes, like now, the problem is far simpler than that: too much supply and not enough demand. Companies ...

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• 23 May

  Creative, cultural industry generates $2.25tn annually

  

  New York / WAM The creative and cultural industry has played an essential role the world over throughout the Covid-19 pandemic and deserve more support moving forward, the President of the UN General Assembly said. “As we deliberate on the role of the creative sectors in supporting and being supported by a recovery from Covid-19, let us ensure that we ...

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• 23 May

  Air India: Cyber attack led to data breach of 4.5m fliers

  

  Bloomberg Hackers infiltrated the servers of Air India Ltd. and gained access to personal data of 4.5 million fliers, the nation’s flag carrier said. Personal data of passengers registered between August 2011 and February 2021 were compromised in the attack, the carrier said in a note to fliers that was shared via Twitter. The details included credit card and contact ...

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• 23 May

  IMF backs $50 billion plan to help world escape Covid crisis

  

  Bloomberg The International Monetary Fund (IMF) called for a $50 billion spending plan to protect vast swaths of the world against Covid-19 and narrow a gap in access to life-saving vaccines that’s threatening the global economic recovery from the pandemic. That investment would fund an ambitious effort to immunise at least 40% of the global population by the end of ...

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• 23 May

  Brexit Britain’s new carbon market makes polluting pricier

  

  Bloomberg The first handful of trades in the UK’s new carbon market indicates that polluting will be more expensive for everyone from power plants to factories than it is under the European scheme. The launch of the UK’s own carbon system is a replacement for the country’s participation in a nearly identical EU program that’s been going since 2005. Putting ...

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• 23 May

  JetBlue founder’s new airline set to debut as travel revives

  

  Bloomberg Airline entrepreneur David Neeleman’s newest carrier will begin flying from May 27 with an initial network of 16 cities, making it the year’s second US startup looking to use discount fares to grab a piece of a much-anticipated resurgence in leisure travel. Breeze Airways started selling tickets, and the first flights will connect Charleston, South Carolina; Tampa, Florida; and ...

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• 23 May

  Air India’s 4.5m flyers data leaked after cyberattack

  

  Bloomberg Hackers infiltrated the servers of Air India Ltd and gained access to personal data of 4.5 million fliers, the nation’s flag carrier said. Personal data of passengers registered between August 2011 and February 2021 were compromised in the attack, the carrier said in a note to fliers that was shared via Twitter. The details included credit card and contact ...

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• 23 May

  EasyJet readies for tumultuous summer amid slow reopening

  

  Bloomberg EasyJet Plc predicted an uneven recovery this summer as European destinations relax coronavirus curbs only gradually, prompting the discount airline to chart a more cautious path to rebuilding its service. The UK company expects to add flights in earnest from June, a month later than planned, it said after posting a 701 million-pound ($990 million) loss for the first ...

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• 23 May

  Canadian retail sales hit a snag in April

  

  Bloomberg Canadian retail sales hit a snag in April amid a third wave of Covid-19 restrictions. Receipts fell 5.1% last month after many provinces introduced strict measures to curb virus cases, according to preliminary data from Statistics Canada. The drop reverses two strong months of gains, including a 3.6% increase in March. Canadian retailers are likely to remain weak throughout ...

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• 23 May

  China Resources mulls $2b HK IPO for its supermarket

  

  Bloomberg China Resources Holdings Co is weighing a Hong Kong initial public offering for its supermarket business CR Vanguard that could raise as much as $2 billion, according to people familiar with the matter. The state-owned conglomerate has held initial talks with potential advisers on the share sale plan, which could happen as soon as next year, the people said, ...

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