June, 2021

• 22 June

  US futures advance with stocks as Fed jitters ease

  

  Bloomberg US equity futures climbed with European stocks on Monday as markets regained a measure of calm following volatility spurred by the Federal Reserve’s surprise hawkishness. Contracts on the S&P 500 advanced after spending most of the Asia session in the red. The Stoxx 600 Index also rebounded from an earlier loss, with UK grocer Wm Morrison Supermarkets Plc surging …

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• 22 June

  Japanese stocks fall as hawkish Fed damps cyclical appeal

  

  Bloomberg Japanese stocks declined by the most in almost four months, extending losses from late last week as hawkish comments from the US Federal Reserve crushed the reflation trade that had driven the market earlier this year. The selloff briefly sent the Nikkei 225 Stock Average down as much as 4%, the most since April 2020, amid a global selloff …

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• 21 June

  New giant Saudi pension fund aims to crack world’s top 10 ranks

  

  Bloomberg Saudi Arabia gave a first glimpse of the ambition behind the merger of two of its pension and insurance funds with a plan to rival the world’s largest investors of its kind. The new entity will boast assets of over $250 billion, according to the chief executive officer of Hassana Investment Co, the investment management arm of the kingdom’s …

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• 21 June

  Wizz Air unveils paperless flight deck

  Abu Dhabi / WAM Wizz Air on Sunday launched its new electronic flight bag (EFB), a technical solution that will replace all printed onboard manuals and materials with iPads for pilots. The new system brings increased efficiency to all aspects of flight planning. It builds on the airline’s broader sustainability commitments by significantly reducing paper use and fuel consumption. Under …

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• 21 June

  Britain to keep restrictions on overseas travel in place

  

  Bloomberg The UK government signalled it will keep restrictions on overseas travel in place for now to control a surge in coronavirus infections and the risk of new variants of the virus taking hold. Justice Secretary Robert Buckland said “normal” holidays were “never going to be the case” this year because of increasing Covid-19 cases. His comments indicate increasing concern …

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• 21 June

  ‘FAA must regulate, not promote space industry’

  

  Bloomberg The US government’s edict to both regulate and promote the rapidly growing commercial space industry is a conflict of interest and must end, a senior lawmaker said. Representative Peter DeFazio, the Oregon Democrat who is chairman of the Transportation and Infrastructure Committee, said he would introduce legislation to alter the Federal Aviation Administration’s mandate. The committee heard comments on …

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• 21 June

  Air New Zealand sees more losses due to closed borders

  

  Bloomberg Air New Zealand expects to suffer at least three straight years of losses as the pandemic continues to keep international borders closed and severely restrict long-haul travel. The airline will post a loss before significant items and tax of as much as NZ$450 million ($315 million) for the year ended on June 30 and foresees a “comparable” result in …

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• 21 June

  UK’s Morrison rejects $7.6b takeover proposal from CD&R

  

  Bloomberg Wm Morrison Supermarkets Plc rejected as undervalued an unsolicited proposal from US buyout firm Clayton Dubilier & Rice LLC that valued the UK grocery chain at about 5.5 billion pounds ($7.6 billion). Morrison received a proposed cash offer at 230 pence a share on June 14 and rejected it three days later after discussions with its adviser Rothschild & …

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• 21 June

  Ares sued by Millette’s Hudson debt fund over aircraft loan

  Bloomberg Ares Management was sued by a specialist credit fund co-founded by a former Goldman Sachs Group Inc partner over the sale of collateral on a loan to a struggling Norwegian airline. Hudson Structured Capital Management Ltd claims that several Ares funds that held the notes directed that aircraft used as collateral be sold to an Ares affiliate, despite a …

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• 21 June

  Private jet sales boom as rich buy up

  Bloomberg The coronavirus pandemic has created an overhang of pent-up travel demand and left unspent money burning holes in the pockets of the well-to-do. Put the two together and the result is a hunger for private jets. Buyers have scooped up so many of the good used planes out there that they’re now getting on waiting lists to purchase new …

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