April, 2021

• 21 April

  Stumble in stocks lacks easy explanation for Wall Street pundits

  

  Bloomberg Up four weeks and six of the last seven, US stocks are doing something they haven’t done since March: fall on consecutive days. For the first time in a long time, Wall Street pundits found themselves trying to explain a weak market. Covid-19 cases are surging around the world. Anxiety is swirling that new lockdowns could be afoot. Tension …

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• 21 April

  Norway’s wealth fund returned $45.7b in Q1

  Bloomberg Norway’s sovereign wealth fund, the world’s biggest, returned 4%, or 382 billion kroner ($45.7 billion), in the first quarter after gains in its stock portfolio made up for bond losses. “The rise of the equity market was to a great extent driven by the finance and energy sector,” Deputy Chief Executive Officer Trond Grande said in a statement on …

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• 21 April

  Oil marks anniversary of crash below zero with rally above $64

  

  Bloomberg Oil jumped above $64 a barrel, a year to the day after futures for the US benchmark collapsed below zero, with the world’s most important commodity extending a powerful rally on bets for better demand. West Texas Intermediate advanced 1.3%, adding to Monday’s modest climb as the dollar weakened, while production in Libya fell below 1 million barrels a …

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• 21 April

  EU coal laggard faces snags in plan to spinoff dirty assets

  

  Bloomberg Poland’s plan to carve out coal-fired power plants sparked a rally in the country’s biggest utilities. Now for the hard part — approving it. Deputy Prime Minister Jacek Sasin’s proposal, which would free up state-owned companies to invest in clean energy, has to win over trade unions, the European Union’s executive and gain approval from Poland’s bickering coalition government. …

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• 21 April

  Sasol, Toyota build South African green hydrogen project

  

  Bloomberg Sasol plans to develop the use of green hydrogen by fuel cell vehicles on a major South African freight route as the company examines ways to lower its own emissions. Along with partner Toyota Motor Corp, it intends to develop a pilot project — using a key highway such as the N3 running between Durban and Johannesburg — for …

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• 20 April

  United outlines traffic needed for profit as its losses pile up

  

  Bloomberg United Airlines Holdings Inc spelled out the travel milestones needed for a return to profitability after posting a bigger-than-expected loss in the first quarter and offering limited insight into its expectations for the summer flying season. The company sees an end to net losses when business and international traffic recover to 65% of 2019 levels, but it didn’t predict …

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• 20 April

  HK suspends flights from India, Pakistan, Philippines

  

  Bloomberg Hong Kong banned flights from India, Pakistan and the Philippines for 14 days starting from Tuesday as the city reported the first two cases with highly transmissible virus variant in the community over the weekend. Visitors who have stayed in the three countries for more than two hours in the past 21 days will also be restricted from boarding …

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• 20 April

  Future Retail’s debt plan passage eases some woes

  Bloomberg Indian supermarket-operator Future Retail Ltd approved a debt resolution plan that eases some immediate concerns as a legal battle with partner Amazon.com Inc threatens to delay an asset sale to Reliance Industries Ltd. Future Retail’s board agreed to a proposition to restructure its secured bank debt and three rupee-denominated bonds, according to an exchange filing. The plan, which was …

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• 20 April

  Walmart+ usage hampered by consumer confusion: Survey

  

  Bloomberg Walmart Inc’s new subscription program wants to entice customers with benefits like cheap gas and no checkout lines. But it turns out many members aren’t using them much. About three out of four users don’t take advantage of perks such as less-expensive fuel and Scan & Go technology that allows store shoppers to pay for items on their phone, …

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• 20 April

  Air France-KLM CEO flags more recapitalisation in 2021

  

  Bloomberg Air France-KLM Chief Executive Officer Ben Smith indicated the struggling airline could seek a further recapitalisation later this year even after the latest 4 billion-euro ($4.8 billion) rescue from the French government that includes the sale of new shares. “We do have heavy, heavy debt that is holding back our balance sheet,” the CEO said at the virtually held …

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