July, 2021

• 15 July

  Adani’s firm takes control of Mumbai airport from GVK

  

  Bloomberg Adani Enterprises Ltd has taken control of Mumbai’s international airport from GVK Group, in a bold bet by billionaire Gautam Adani that travel will stage a rapid recovery after being crushed by the pandemic. The deal for Mumbai International Airport Ltd, India’s second busiest, makes Adani Airport Holdings Ltd the nation’s largest airport infrastructure company, accounting for 25% of …

  Read More »
• 15 July

  Porter Airlines elbows onto Air Canada turf with jet deal

  

  Bloomberg Porter Airlines Inc plans to order as many as 80 Embraer SA commercial E195-E2 jets as it expands services to Toronto’s Pearson International Airport. The decision moves the regional carrier squarely onto larger rival Air Canada’s home turf as the airline industry prepares for a surge in travel demand as pandemic restrictions begin to ease. The introduction of jets …

  Read More »
• 15 July

  Hong Kong’s apparel giant sues US

  

  Bloomberg Hong Kong apparel giant Esquel Group said it is suing the US government for what it called the “erroneous” blacklisting of a subsidiary, saying it had been “falsely implicated” in the use of forced labor in China’s Xinjiang region. The unit, Changji Esquel Textile Co, was added to the US Commerce Department’s Entity List during former President Donald Trump’s …

  Read More »
• 15 July

  GE sets 2050 goal of zero emissions from jet engines, gas power

  

  Bloomberg General Electric Co vowed to curb the greenhouse gases produced by the use of its products—including thousands of fossil-fueled turbines and jet engines in operation around the world—in a bid to achieve net-zero emissions by 2050. The new goal, announced in GE’s annual sustainability report, signals that the industrial giant plans to go beyond an earlier pledge to make …

  Read More »
• 15 July

  Ryanair to hire 2,000 pilots as Boeing Max fleet grows

  Bloomberg Ryanair Holdings Plc is starting one of the biggest recruitment drives among European airlines, adding 2,000 pilots over the next three years as it plans to grab market share from rivals weakened by the pandemic. Europe’s biggest discount carrier needs pilots to fly its new Boeing Co 737 Max jets, which it began taking last month, Ryanair said. The …

  Read More »
• 15 July

  Germany’s banks start ditching offices as remote work soars

  

  Bloomberg Banks in Germany are rapidly cutting back on office space as a rising number of staff work from home, putting them at the vanguard of a global shift that could permanently change the way bankers work. Deutsche Bank AG is vacating several floors in a building housing about 1,000 employees, HSBC Germany is ditching six separate offices in Dusseldorf …

  Read More »
• 14 July

  NAB leads race for Citi’s consumer unit

  

  Bloomberg National Australia Bank Ltd (NAB) has emerged as the front-runner for Citigroup Inc’s Australian retail assets. The country’s third-largest bank is in advanced discussions over the purchase of the unit, valued at more than $1 billion, the people said. National Australia confirmed its interest in a statement. “NAB regularly assesses opportunities to acquire businesses that support its growth strategy …

  Read More »
• 14 July

  Kenya central bank seeks ‘teeth’ to regulate digital lenders

  

  Bloomberg The central bank of Kenya needs “teeth” to rein in more than 100 lenders, who charge interest rates as high as an annualised 500% for loans disbursed over digital channels, according to Governor Patrick Njoroge. The regulator wants the mobile-phone based and online lenders to disclose more information, including the source of funds and details on ownership for the …

  Read More »
• 14 July

  Futures, stocks mixed as traders weigh policy path

  

  Bloomberg American stock-index futures were mixed on Wednesday as investors evaluated a surprise US inflation jump that stirred the debate on how long the Federal Reserve will maintain ultra-loose policy. Contracts on the S&P 500 fluctuated, while those on the Nasdaq 100 gained after US tech giant Apple Inc. was said to have prepared suppliers for a boost in next-generation …

  Read More »
• 14 July

  Small-caps lose year’s edge over tech with bearish bets rising

  

  Bloomberg Count small-cap stocks among the casualties of the quickly unraveling reflation trade. The Russell 2000 Index fell more than 1% as the fastest inflation since 2008 fueled concern over pricing pressures and the growth potential of smaller US companies. The retreat contrasts with a gain in the Nasdaq 100, where technology megacaps are increasingly favoured for their strong earnings …

  Read More »