April, 2021

• 12 April

  Goldman’s Kostin says Biden tax plan will slash earnings

  Bloomberg Joe Biden’s tax hike proposals will deal a blow to corporate earnings growth next year, Goldman Sachs Group Inc. strategists warned, highlighting a headwind for US equities following a rally that has pushed prices to record highs. The US president wants to raise corporate income tax to 28% and set a 21% minimum levy on global corporate earnings. The …

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• 12 April

  Aggressive US climate plan puts pressure on China, India

  

  Bloomberg An ambitious pledge to cut greenhouse-gas emissions under consideration by the US gives President Joe Biden more leverage when he hosts leaders for a climate change summit later this month — presenting a particular challenge to China’s Xi Jinping. The White House may commit to emissions cuts of 50% or more from 2005 levels by 2030, Bloomberg reported this …

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• 11 April

  UK sets plan for travel return with costly test requirements

  

  Bloomberg The UK said it will decide by early next month whether Britons can resume taking international holidays on May 17, while implementing coronavirus testing rules that airlines criticised as too costly. Countries will be rated according to their Covid-19 risk in a traffic light system, the Department for Transport said. At a minimum, travellers will need to buy a …

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• 11 April

  Airbus jet deliveries accelerate in March

  

  Bloomberg Airbus SE handed over 72 aircraft last month, stepping up deliveries even as coronavirus flare-ups delayed a recovery in air travel. The surge confirmed an earlier Bloomberg report and marked the best performance so far this year for the European planemaker. Its quarterly total of 125 surpassed the 122 aircraft delivered in the year-ago period, largely before the pandemic …

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• 11 April

  UK’s Hammerson sells retail parks for $480m

  Bloomberg Struggling UK mall operator Hammerson Plc has agreed to sell its retail parks to Canadian private equity firm Brookfield Asset Management Inc for 350 million pounds ($480 million), the Sunday Times reported. Brookfield will acquire seven retail parks, giving a much-needed financial boost to the owner of Birmingham’s Bullring shopping centre. Hammerson, which owns once-prized shopping centres across the …

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• 11 April

  India’s air passenger demand to double by 2030, says Boeing

  

  Bloomberg Boeing Co expects India’s air passenger traffic to double from pre-pandemic levels by 2030 even as any imminent travel recovery looks to be thwarted by a second Covid wave in the South Asian nation. “Although the Covid-19 pandemic sharply reduced Indian air travel last year, the country’s domestic passenger traffic is recovering more rapidly than in most other countries …

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• 11 April

  New York’s OTG exploring sale

  Bloomberg OTG, an operator of restaurants and concessions at US airports, is exploring options including a sale or going public through a special purpose acquisition company, according to people with knowledge of the matter. The New York-based company, which filed to go public in 2016 before delaying plans and citing market conditions, is working with an adviser to solicit interest …

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• 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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