May, 2021

• 6 May

  ANZ bank profit rises by $2.3bn

  Bloomberg Australia & New Zealand Banking Group Ltd’s (ANZ) first-half profit climbed as the lender wound back bad debt provisions made during the pandemic and the country’s economic recovery builds. Cash earnings from continuous operations rose to A$3 billion ($2.3 billion) in the six months through March 31, compared with A$1.4 billion in the same period a year earlier, according …

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• 6 May

  RBNZ to tighten lending further as house prices soar

  

  Bloomberg New Zealand’s central bank (RBNZ) said it’s prepared to further tighten mortgage lending restrictions if needed to rein in the country’s red-hot housing market. The Reserve Bank would use loan-to-value ratios or new tools currently under consideration to restrict the amount of money banks can lend for house purchases, the RBNZ said in its semi-annual Financial Stability Report on …

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• 6 May

  European stocks, futures rebound after tech drop

  

  Bloomberg European stocks and US futures rebounded from the sell-off in technology shares as focus turned to positive earnings and signs of economic recovery from the pandemic. The Stoxx 600 Index jumped more than 1%, with miners and travel shares among the benchmark’s biggest gainers. Tech stocks bounced back from Tuesday’s rout sparked by fears of quickening inflation. Shares of …

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• 6 May

  India stocks rise as RBI unveils support to cope with Covid-19

  

  Bloomberg India stocks rise after the central bank unveiled measures to further support the economy as coronavirus cases continue to surge. The S&P BSE Sensex gained 0.4% to 48,452.56, as of 11:33 am in Mumbai, while the NSE Nifty 50 Index advanced by the same magnitude. Thirteen of the 19 sector sub-indexes compiled by BSE Ltd climbed, led by a …

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• 5 May

  Saudi Aramco’s Q1 profit soars 24% to $21 billion

  

  Bloomberg Saudi Aramco’s profit soared in the first quarter following a recovery in global oil and gas markets, though free cash flow remained too low to fully cover dividend payments. The world’s biggest energy firm kept its quarterly payout at $18.75 billion. The money is a vital source of cash for the kingdom. The bumper results follow those last week …

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• 4 May

  Carbon hits record 50 euros for first time on tighter pollution rules

  

  Bloomberg The cost of pollution in the European Union exceeded 50 euros ($60) per metric ton for the first time in the market underpinning the region’s energy transition. Carbon’s run of records in the past year has mirrored the EU’s resolve to ramp up its climate ambition. The bloc’s cap and trade system is a key tool to enact its …

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• 4 May

  Biggest US coal miner taps James Grech as its CEO

  

  Bloomberg Peabody Energy Corp, the biggest US coal producer, named James Grech to be its next chief executive officer as the industry faces a long-term decline in demand for the fuel. Grech, the CEO of the Utah-based coal company Wolverine Fuels, will take over at Peabody from June 1, according to a statement. Peabody said in March that its current …

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• 4 May

  BP lures investors with share buybacks post tough year

  

  Bloomberg BP Plc set out to win back shareholders after a difficult year, saying it will begin share buybacks after “exceptional” natural gas trading buoyed earnings. The gesture is aimed at investors who have shown little love for the company since it cut its dividend by half last year. After lagging its European peers for much of 2020, BP re-jigged …

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• 4 May

  Lufthansa CEO pitches $6.6b capital increase to investors

  

  Bloomberg Deutsche Lufthansa AG asked shareholders for permission to raise 5.5 billion euros ($6.6. billion) in fresh capital, calling it a necessary step to repair the stricken carrier’s balance sheet after the coronavirus pandemic punctured a decades-long boom in air travel. At the airline’s annual meeting on Tuesday, Chief Executive Officer Carsten Spohr implored investors to back the motion, which …

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• 4 May

  Estee Lauder’s sales fall short of estimates

  

  Bloomberg Estee Lauder Cos reported quarterly sales that came in short of analysts’ estimates despite early signs of travel bouncing back. Sales rose in every region but didn’t meet expectations, with demand for makeup still stifled as customers don’t see many occasions to wear cosmetics like lipstick. Global net sales for the fiscal third quarter ended March 31 rose 16% …

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