July, 2021

• 13 July

  World hunger surged to 15-year high as Covid stifled food access: UN

  

  Abu Dhabi / WAM – Bloomberg World hunger spiked last year, outpacing population growth and probably reaching the highest since 2005, as the Covid-19 pandemic curbed incomes and access to food, according to the United Nations. As many as 811 million people — about a 10th of the global population — were undernourished in 2020, a UN report said. The …

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• 13 July

  Earnings disappointment a risk for Indian stocks, says JPMorgan

  

  Bloomberg Equity investors in India face the risk of earnings disappointment after a rally that’s propelled the local stock benchmark to successive records this year, according to JPMorgan Chase & Co. As business activity resumes following one of the world’s deadliest coronavirus outbreaks, consensus earnings estimates may end up being overdone, said Sanjay Mookim, head of India equity research at …

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• 13 July

  Futures steady ahead of earnings, inflation data

  

  Bloomberg Markets settled into a holding pattern on Tuesday as traders awaited key American inflation data and second-quarter earnings reports from some of the world’s biggest banks. Treasuries and the dollar were steady. Contracts on the S&P 500 and the Nasdaq 100 fluctuated around small gains and losses after the underlying indexes closed at records. JPMorgan Chase & Co and …

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• 12 July

  Toronto home sales hit lowest point in a year

  

  Bloomberg Toronto saw the lowest number of homes trade hands in a year in June as the pandemic-fueled demand that drove the market to record highs starts to fade with immigration still muted. Home sales in Canada’s largest city fall 9.1% in June from the month before to 8,885 transactions, the third consecutive monthly decline, according to data released by …

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• 12 July

  Wall Street’s $6bn bonanza chilled by China IPO curbs

  

  Bloomberg Just months after bankers celebrated a record haul from taking Chinese companies public in New York and Hong Kong, they’ve had a rude awakening. Deals are being shelved and investors are nursing heavy losses. A chill has settled over global finance after a fortnight in which China first cracked down on its Uber-like Didi Global Inc. within days of …

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• 12 July

  US futures mixed as investors turn focus to earnings season

  

  Bloomberg US futures were mixed as investors turn their attention to the second-quarter earnings season starting this week in order to gauge whether corporate profitability can support equity valuations. Treasury yields dropped. The Stoxx Europe 600 fluctuated, with declines for banks and travel companies offsetting gains for real-estate and utilities. Atos SE plunged more than 15% after the French IT-services …

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• 12 July

  Brooks Brothers owner eyes $13 trillion market with IPO

  

  Bloomberg Jamie Salter always had big ambitions. Though he started Authentic Brands Group Inc with lesser-known consumer names, he spent much of the last decade vacuuming up ailing but widely recognised brands like Barneys New York, Sports Illustrated and Brooks Brothers. Now, he’ll do so in the public eye. Authentic filed paperwork for an initial public offering this week, and …

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• 12 July

  Covid-19: Two senior Cathay executives quit

  

  Bloomberg Two senior executives at Cathay Pacific Airways Ltd have resigned, as the Hong Kong-based carrier continues to battle its way through the coronavirus pandemic with severely reduced flight capacity. Cathay Director Customer Simon Large, who was responsible for managing brand, corporate and marketing communications, as well as loyalty programs, will leave on July 31, according to a company memo …

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• 12 July

  Hungary makes Budapest Airport bid as PM Orban seeks control

  

  Bloomberg The Hungarian government has made a non-binding offer to buy Budapest Airport Zrt, according to people familiar with the matter, as PM Viktor Orban seeks to gain control of what had been one of the fastest growing hubs in the region before the coronavirus pandemic. The offer, which was received by the owners of the airport this week, was …

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• 12 July

  Warby Parker bets future on adding hundreds of stores

  

  Bloomberg As Warby Parker heads towards becoming a public company, the co-founders of the eyewear brand valued at $3 billion are pitching a growth strategy centered on stores. It’s quite a turn for a company that last decade ignited a boom in digital brands that convinced investors to bet billions largely on their ability to grow quickly online. But in …

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