June, 2021

• 20 June

  Philippine Air’s parent halted from trading after audit report

  Bloomberg Shares of Philippine Airlines’s parent company were suspended from trading after its auditor issued a disclaimer of opinion on its annual report. The Philippine stock exchange suspended trading of PAL Holdings Inc shares from 9:30 am, extending a halt imposed when the company submitted its annual report that showed it posting a record loss in 2020 due to the …

  Read More »
• 20 June

  Shenzhen airport tightens curbs after variant Covid case

  Bloomberg The airport in Shenzhen, a Chinese city neighbouring Hong Kong, tightened controls on entry to its facilities after a restaurant employee was found to carry the delta coronavirus variant. All visitors to the terminals and ground traffic centre must provide a negative nucleic-acid test administered within the prior 48 hours, according to a statement posted on Shenzhen Airport Group’s …

  Read More »
• 20 June

  Ocado loses UK injunction bid against bitter rival AutoStore

  

  Bloomberg Ocado Group Plc lost the latest court clash with rival AutoStore Technology AG after a London judge refused to grant an injunction that would stop the use of certain information in a separate US patent infringement case. In an increasingly bitter dispute between the two companies that both provide automated grocery delivery systems, online grocer Ocado sought to restrain …

  Read More »
• 20 June

  Garuda puts off debt payment again as it faces funding crunch

  

  Bloomberg Troubled flag carrier PT Garuda Indonesia put off the payment on its Islamic debt once again, highlighting its financing crunch as the firm tries to avoid bankruptcy. The Southeast Asian airline, struggling as the pandemic depresses air travel worldwide, said it “will continue to defer the periodic distribution amount due on June 3, 2023,” in a filing to the …

  Read More »
• 20 June

  Thai Air seeks new loans to fund operations

  Bloomberg Thai Airways International Pcl is seeking new loans to help fund operations after the court approved its plan to restructure at least $5.5 billion of debt. The carrier has been in talks with some banks for loans of as much as 25 billion baht as part of the debt-rehabilitation program, Chief Financial Officer Chai Eamsiri said. The Central Bankruptcy …

  Read More »
• 20 June

  GM deepens EV bet with $35bn spending

  

  Bloomberg General Motors Co is raising the stakes in the electric-vehicle race, boosting its investment in future technology for a second time in eight months with plans to spend $35 billion on more than 30 plug-in vehicles by 2025 and a total of four battery plants. The automaker said the stepped-up investment reflects stronger-than-expected financial results for the year. Higher …

  Read More »
• 20 June

  Mobile health apps plagued by privacy issues, says study

  

  Bloomberg Health and fitness apps, which help mobile-phone users track everything from calorie intake to menstruation dates, can access and share personal data in a way that’s concerning, according to a study published in the British Medical Journal. The analysis of more than 20,000 apps found that inadequate privacy disclosures for many of them prevented users from making informed choices …

  Read More »
• 20 June

  Apple supplier Biel weighs $2bn Hong Kong IPO

  

  Bloomberg Biel Crystal Manufactory Ltd, a supplier of cover glass to Apple Inc., is planning a Hong Kong initial public offering that could raise as much as $2 billion, according to people with knowledge of the matter. The maker of touch screens is working with China International Capital Corp., HSBC Holdings Plc and JPMorgan Chase & Co. on the offering, …

  Read More »
• 20 June

  Waymo raises $2.5bn in funding round

  Bloomberg Waymo, Alphabet Inc.’s self-driving car unit, said it raised $2.5 billion in a recent funding round to help advance its technology and replace a management team rocked by departures. Earlier this spring, Waymo had been talking to outside investors about raising as much as $4 billion, Bloomberg has reported. The Google sibling has lost six key executives in rapid …

  Read More »
• 17 June

  Oil edges higher with market tightening, virus curbs easing

  

  Bloomberg Oil crept higher as industry data pointed to a substantial decline in US crude stockpiles and fuel sales in India showed signs of recovering. Inventories dropped by 8.54 million barrels last week, according to people familiar with the American Petroleum Institute’s data. Oil is also being helped higher by positive demand signals from Asia. Indian gasoline and diesel sales …

  Read More »