February, 2021

• 4 February

  Reliance’s deal with Future Group halted

  

  Bloomberg Future Retail Ltd’s dollar bonds plunged on an Indian court temporarily restraining parent Future Group from selling its retail assets to Reliance Industries Ltd, after Future’s partner Amazon.com Inc had sought the suspension. The Delhi High Court ordered the Future Group and Indian authorities to ensure the status of the indebted Indian retailer’s assets are maintained as is, putting …

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• 4 February

  JetBlue’s London flights to get luxury touches in Mint cabins

  

  Bloomberg JetBlue Airways Corp has remodeled its premium Mint cabin for the company’s trans-Atlantic debut later this year, changing the seats into “suites” with sliding doors and adding two larger “studios.” The carrier will offer 24 premium berths on flights connecting New York and Boston with London, which are set to begin in the third quarter with single-aisle Airbus SE …

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• 4 February

  Ulta Beauty to boost anti-bias training

  Bloomberg Ulta Beauty Inc, US’s biggest cosmetics retailer, plans to increase spending on inclusion and antidiscrimination training programs and will boost the number of products for sale by Black-owned businesses as the industry tries to address racial inequality. Included in the commitment is $2 million for staff training this year to “ensure equality in guest experiences.” In 2019, several Ulta …

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• 4 February

  Former Boeing CEO Muilenburg’s SPAC seeks to raise $200 million

  

  Bloomberg Dennis Muilenburg, the former chief executive officer of Boeing Co who stepped down during the 737 Max crisis, has filed for a blank-check company. His special purpose acquisition company (SPAC) is called New Vista Acquisition and is seeking to raise $200 million, a filing showed, which confirmed an earlier Bloomberg News report. It intends to focus on finding a …

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• 4 February

  Hormel nears $3b deal to buy Heinz’s Planters

  Bloomberg Hormel Foods Corp is nearing a deal to buy the Planters snack business from Kraft Heinz Co in a deal valuing the peanut brand at about $3 billion, according to a person familiar with the matter. A deal could be reached as soon as next week, according to the person, who did not want to be identified discussing the …

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• 3 February

  Global stocks extend rally to third day as earnings roll in

  

  Bloomberg The rally in global stock markets extended into a third day on Wednesday as companies from Amazon.com Inc. to Vodafone Group Plc posted strong results and the retail-trading frenzy subsided. The Stoxx 600 Index climbed 0.7%, with most sectors in the green as corporate results rolled in. Italian stocks and bonds surged after Mario Draghi, the former European Central …

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• 3 February

  GameStop’s giant bubble deflates further after $27 billion rout

  

  Bloomberg GameStop Corp. shares continued their rapid fall back toward earth on Wednesday, with last week’s massive peak becoming a distant memory. The stock listed on Germany’s Tradegate venue falls to $71.99, implying a drop of about 20% from Tuesday’s New York closing price of $90. GameStop, the poster child for Redditors looking to squeeze short sellers, plunged 60%, and …

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• 3 February

  South Korea to extend stock short-selling ban until May 2

  Bloomberg South Korea bowed to pressure from its increasingly dominant retail investors and extended its pandemic-imposed ban on short-selling until May 2. The ban, which had been scheduled to expire on March 15 — a year after it was put on place — will be lifted on May 3 for stocks on the benchmark Kospi 200 Index and the small-cap …

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• 2 February

  Opec+ oil strategy success buys time ahead of tough decisions

  

  Bloomberg Opec and its allies can celebrate their success in buoying world oil markets when they gather this week. But the coalition will soon be faced with some tough choices. Last month’s pledge by Saudi Arabian Energy Minister Prince Abdulaziz bin Salman to slash production by a further 1 million barrels a day has buttressed global markets against the latest …

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• 2 February

  Boeing risks losing a third of 777X orders on jet’s delay

  

  Bloomberg Boeing Co signalled it’s at risk of losing more than a third of its 777X order haul because the latest delay to the behemoth jet’s debut — now slated for late 2023 — gives some customers the right to walk away from sales contracts. The US planemaker lowered the backlog for the 777X family to just 191 jets in …

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