January, 2021

• 26 January

  RBA on alert for excess borrowing

  Bloomberg Australia’s central bank is worried an extended period of very low interest rates could spur borrowers to take on more debt than they can handle — particularly if lending standards slip and risk appetite increases. Documents under a Freedom of Information request show the Reserve Bank of Australia saw risks in its decisions to cut the key interest rate …

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• 26 January

  Europe’s central banks ramp up support for greener economy

  

  Bloomberg Europe’s central banks are ramping up their efforts to support green finance as authorities contemplate how to fight climate change while rebuilding their economies after the pandemic. The latest initiative includes a fund launched by the Bank for International Settlements for green-bond investments by central banks. The European Central Bank (ECB) committed to buy into the initiative, and announced …

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• 26 January

  Tencent shares tumble after approaching $1trn valuation

  

  Bloomberg Tencent Holdings Ltd. slumped after a world-beating surge in the stock pushed its market value to the cusp of $1 trillion for the first time. The Chinese internet behemoth lost 6.3% in Hong Kong on Tuesday, putting its market capitalisation below $890 billion. Traders took profit after Monday’s 11% rally, which was Tencent’s biggest in almost a decade. Adding …

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• 26 January

  Global stocks trade mixed as dollar, US Treasury yields rise

  

  Bloomberg Global stocks were mixed as M&A deals gave a boost to Europe, while worries about new virus variants and hurdles to the Biden administration’s stimulus proposal fanned a risk-off mood in the US and Asia. S&P 500 equity futures dropped, while Treasury yields climbed as President Joe Biden said he’s open to negotiating his $1.9 trillion Covid-19 relief proposal. …

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• 26 January

  Oil inches higher as investors weigh supply cuts in Iraq, Libya

  

  Bloomberg Oil in New York inched higher with investors assessing the impact of supply curbs from Iraq and Libya on the near-term outlook. Iraq pledged to cut output in January and February after pumping more than its Opec+ quota last year, and Libyan guards halted some crude exports after a pay dispute. Crude was also buoyed by a renewed climb …

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• 26 January

  Renewables pip fossil fuels in EU in 2020

  

  Bloomberg Renewables are for the first time the dominant power source in Europe’s electric grid. In a year that saw pandemic restrictions sap energy demand across the continent, the drop in supply came mostly from more expensive power from fossil fuels. That helped green sources take the biggest share of the European Union’s generation, a portion that will keep growing …

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• 26 January

  Russia’s Fortuna resumes work on Nord Stream 2

  

  Bloomberg Russian pipelaying vessel Fortuna has started working at the Nord Stream 2 construction site in Danish waters, defying new US sanctions against the controversial gas-pipeline project. The work being done in the Danish exclusive economic zone is “performed in line with relevant permits” and precede the actual construction of the gas link, a spokeswoman for Nord Stream 2 AG …

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• 26 January

  World’s biggest offshore wind producer moves into hydrogen

  

  Bloomberg Danish utility Orsted A/S took a final investment decision on its first hydrogen project as it expands beyond wind power. The world’s biggest producer of electricity from turbines at sea will use the technology at its Danish demonstration project H2RES to produce green hydrogen. It’s a small, but concrete step for the company that could help it stand out …

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• 26 January

  Dr Martens shareholders seek $1.8b in London IPO

  

  Bloomberg Dr Martens owner Permira Holdings and other shareholders are looking to raise as much as 1.3 billion pounds ($1.8 billion) in an initial public offering of the shoemaker on the London Stock Exchange, betting on the enduring popularity of its cult leather boots. The company doesn’t plan to raise any money itself in the IPO. Private equity firm Permira …

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• 26 January

  KLM to keep flying long haul with testing deal

  

  Bloomberg Air France-KLM’s Dutch unit will keep operating long-haul flights as it reached a deal to have staff undergo a rapid Covid-19 test upon return to the Netherlands, eliminating the risk of leaving crews behind. KLM urged the Dutch government to exempt its staff from a new requirement for mandatory pre-departure virus testing. It said it would otherwise halt all …

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