April, 2021

• 11 April

  Avelo Airlines starts flights with an eye on Southwest

  

  Bloomberg One of two new US low-cost airlines, the first to debut in more than a decade, is about to begin flying just as larger rivals rush to entice customers to return to the skies this summer. Avelo Airlines plans to begin flights on April 28 with 189-seat Boeing Co 737-800 jets going from Burbank, California, to Santa Rosa. Additional …

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• 11 April

  Asia’s positive stock outlook clouded by Chinese selloff

  

  Bloomberg The allure of Asian stocks is fading after beating global peers last year. While 2021 began with investors expecting regional stocks to continue leading the global equity rebound as vaccine rollouts gather pace, that conviction now seems to be in short supply owing to a selloff in Chinese shares and concerns over dollar strength. The MSCI Asia Pacific Index …

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• 11 April

  Stock bulls bet it all on earnings guesses with troubled record

  

  Bloomberg You’re never sure what earnings seasons will bring. Hence their volatility. But one thing is certain about the first-quarter results about to be disclosed. They couldn’t matter less to the market’s current valuations. And while it’s a Wall Street cliche that “the guidance is what matters,” that view is being taken to absurd extents right now, when the S&P …

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• 11 April

  Saudi’s Aramco signs infra investment deal of $12.4b

  

  DHAHRAN / WAM Aramco has signed a deal with a consortium led by EIG Global Energy Partners (EIG), one of the world’s leading energy infrastructure investors, to optimise its assets through a lease-and-lease-back agreement involving its stabilised crude oil pipeline network. Upon closing, Aramco will receive upfront proceeds of around $12.4 billion, further strengthening its balance sheet through one of …

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• 11 April

  Boeing needs to check hundreds of 737 Max jets

  Bloomberg Boeing Co will need to inspect hundreds of undelivered 737 Max jets for a potential flaw in their electrical power systems, said people familiar with the matter. About 450 Max planes built since early 2019 could potentially require repairs, a total that includes about 90 aircraft in commercial operation, said the people, who asked not to be named because …

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• 10 April

  Covid thrusts governments into cockpit with flag carrier aid

  

  Bloomberg Decades after being unshackled from government control, many of Europe’s largest airlines are being forced back into the arms of states by the pandemic. With air travel still showing no signs of recovery in the region, the carriers may have to contend with their saviours as powerful shareholders for some time to come. Air France-KLM became the latest to …

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• 10 April

  Levi surges to highest since IPO on ‘outlook’

  

  Bloomberg Levi Strauss & Co shares reached their highest ever since going public after the denim maker projected a sales boost in the first half of the year. The company joins a group of retailers that expect shoppers to spend more freely as 2021 progresses. The San Francisco-based company said it sees net revenue increasing 24% to 25% in the …

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• 10 April

  Tyson opens first new poultry plant in 25 years in retail push

  Bloomberg America’s biggest meat company opened its first new poultry plant in 25 years after the pandemic gave grocery-store sales of chicken a boost. Tyson Foods Inc’s $425 million plant in Humboldt, Tennessee, is starting production of the retail products this month, and the company expects to employ 1,500 people at the facility by 2023, according to a statement. While …

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• 10 April

  Hermes to Swiss: Stop feeding luxury-watch supply glut

  

  Bloomberg Swiss watchmakers are still churning out too many timepieces despite production cuts following a Covid-induced sales slump, according to the head of Hermes International’s horology unit. Brands including Hermes, Rolex and Audemars Piguet temporarily halted production last year amid the pandemic, which helped ease a supply glut somewhat. Still, some producers are failing to address the issue, Laurent Dordet, …

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• 10 April

  Hyundai powers EV race with car that can cook dinner

  

  Bloomberg Hyundai Motor Co. is pitching its new Ioniq 5 as being able to do more than the average EV. In a series of promotional videos on YouTube, a camper is shown running on a treadmill hooked up to the car’s battery, listening to their favourite tunes on a bank of speakers, and even rustling up a roast-chicken dinner in …

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