June, 2021

• 14 June

  Westons consider $5.7 billion Selfridges sale after approach

  

  Bloomberg The billionaire dynasty behind Selfridges & Co is considering a 4 billion-pound ($5.66 billion) sale of the British department store group following an approach from a potential buyer. The Weston family has asked Credit Suisse to advise on the future of the business, which includes the flagship emporium on London’s Oxford Street and stores operating under other names in …

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• 13 June

  Swiss plan to reopen border for vaccinated int’l travellers

  Bloomberg Switzerland plans to reopen its borders for overseas visitors who have received a Covid-19 vaccine on June 28, joining other European countries easing entry rules imposed during the pandemic. Along with European Union countries, Switzerland has restricted travel from outside of Europe’s Schengen area as a result of the pandemic. With its vaccine drive accelerating and Covid-19 infections falling, …

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• 13 June

  Alex, Ani files bankruptcy after expansion

  Bloomberg Jewellery maker Alex and Ani LLC, which operates dozens of stores, filed for Chapter 11 bankruptcy protection and put itself up for sale. The company said it entered into a restructuring agreement with debt and equity holders as it works to reorganise and boost its online and wholesale businesses. The retailer expects “little to no disruption” in operations. Alex …

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• 13 June

  Canadians’ net worth surges on housing but renters left behind

  

  Bloomberg The coronavirus pandemic real-estate boom has made some Canadians richer, while others languish. The net worth of the nation’s households increased by about C$770 billion ($633 billion) in the first three months of 2021, a record 6% gain, to C$13.7 trillion, Statistics Canada said in a report. Since the start of 2020, that figure has increased by more than …

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• 13 June

  Spending surge might be what stocks need to hit new heights

  

  Bloomberg Plans for the biggest corporate spending boom in more than a decade could be the next driver for stock markets trading at record highs. Last year’s prudence among companies is giving way to jubilant investment across a swath of industries, driven by economic reopenings, low interest rates and government support. Such a signal of confidence in the future is …

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• 13 June

  European bank stocks lead rally after a decade of disappointment

  

  Bloomberg This time, it may be more than just another false dawn for European bank stocks. The worst performers among Europe’s equity markets in past decade have had occasional hot streaks, but with this year’s re-emergence of inflation promising an end to an era of near-zero interest rates, the sector is among the biggest gainers in 2021. The Stoxx 600 …

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• 13 June

  Global oil demand to recover to pre-pandemic levels, says IEA

  

  Bloomberg Global oil demand will recover to pre-pandemic levels late next year, the International Energy Agency (IEA) predicted, urging Opec and its allies to keep markets balanced by tapping their plentiful spare production capacity. World consumption will once again reach 100 million barrels a day in the second half of 2022 as developed economies bring the virus under control, the …

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• 13 June

  G7 leaders rival China with grand infra plan

  

  Bloomberg Group of Seven (G7) leaders debated how strongly to respond to China’s effort to win influence around the world and rebuke it over alleged forced labour practices — with US President Joe Biden taking a more hawkish stance and some other leaders wary of the risk the group is seen as an outright anti-China bloc. Saturday’s talks at the …

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• 12 June

  European airlines dragging feet on carbon curbs: Report

  

  Bloomberg Europe’s biggest airlines are seeking to deflect moves to tighten carbon curbs by favouring a less robust offsetting program, according to climate watchdog InfluenceMap. Carriers are pushing to retain the Carbon Offsetting and Reduction Scheme for International Aviation over the European Union’s more rigorous Emissions Trading System, the think tank-said. While Corsia was developed by the United Nations-mandated International …

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• 12 June

  Lufthansa turns to 747 as tourists flood Mallorca

  

  Bloomberg The aircraft that broke down the door to intercontinental flying for the masses has a new mission: lugging as many German tourists as possible on the short-haul hop to Mallorca. Deutsche Lufthansa AG will deploy 364-seat Boeing Co 747-8s on two-hour trips from Frankfurt after looser coronavirus curbs spurred bookings 25-fold since April, it said. The jet will ply …

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