May, 2021

• 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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• 23 May

  Germany’s Condor rescued as financial investor swoops in

  Bloomberg Financial investor Attestor Ltd has acquired a majority stake in German airline Condor, rescuing a company that’s survived on government support after the coronavirus pandemic punctured the boom in air travel. Attestor, a wealth management company with around 5.5 billion euros ($6.7 billion) in assets, will pump 200 million euros of capital into Condor and spend an added 250 …

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• 23 May

  RBI eases India government finances with $14bn payout

  

  Bloomberg India’s central bank approved paying a higher-than-expected nearly $14 billion as dividend to the government, providing relief to Finance Minister Nirmala Sitharaman at a time when the pandemic has strained public finances. The central board of the Reserve Bank of India approved transferring 991.2 billion rupees ($13.6 billion) to the government on, according to a statement from the Reserve …

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• 23 May

  Barclays dragged into insurer ‘war’ over failed M&A deal

  

  Bloomberg Barclays Plc has been dragged into a bitter feud between two French insurers over its role in a failed hostile takeover bid. Scor SE is suing Barclays in London for breach of confidence when the bank advised Covea on its bid to acquire Scor in 2018. Barclays was given an inside track into the strategic thinking of Scor’s board …

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• 23 May

  India’s largest bank posts record quarterly profit

  

  Bloomberg State Bank of India (SBI) posted a record quarterly profit that beat estimates, helped by higher interest and other income as well as lower provisions for bad loans. However, India’s largest lender broke with trend and didn’t offer guidance on fresh soured assets — the so-called slippage ratio — citing uncertainty arising from the coronavirus outbreak that is ravaging …

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• 23 May

  BofA expands affordable-housing programme to $15 billion by 2027

  

  Bloomberg Bank of America Corp (BofA) is expanding a mortgage program for low- to moderate-income homebuyers in an effort to address racial wealth gaps. The lender, working with the non-profit Neighbourhood Assistance Corp of America, set a goal of providing $15 billion in mortgages through May 2027, according to an announcement. Buyers get loans with no down payment, at below-market …

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• 23 May

  US banks could shed 200,000 jobs in decade

  Bloomberg US banks could cut as many as 200,000 jobs in the next decade as they try to boost efficiency to compete with fintech and other upstarts encroaching on their territory, according to Wells Fargo & Co. The eliminations are likely to accelerate as the economy reopens following the Covid-19 pandemic and conditions normalise, Wells Fargo analysts led by Mike …

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• 23 May

  BOE to green its corporate bond-buying program

  

  Bloomberg The Bank of England (BOE) signalled it will take account of the government’s environmental goals in buying assets in financial markets, saying it will shift purchases toward companies doing the most to fight climate change. The move is part of a global effort by central banks to push the financial services industry towards greener finance. The BOE stopped short …

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• 23 May

  Apple readies MacBook Pro, MacBook Air revamps

  

  Bloomberg Apple Inc is preparing to release several new Mac laptops and desktops with faster processors, new designs and improved connectivity to external devices, accelerating the company’s effort to replace Intel Corp chips and leapfrog rival PC makers. The overhaul encompasses a broad range of Macs, including Apple’s higher-end laptop, the MacBook Pro; the laptop aimed at the mass market, …

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• 23 May

  Flying taxis may take off in Europe by ’24

  

  Bloomberg Electric flying taxis may be cleared for takeoff in European skies by 2024 or 2025, according to the region’s top air-safety regulator. Piloted craft that take off vertically could see commercial use carrying packages before passengers, Patrick Ky, executive director of the European Union Aviation Safety Agency (EASA), said in an online event. Autonomous drones will take at least …

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