March, 2021

• 1 March

  China still has ‘major safety concerns’ about 737 Max

  

  Bloomberg China still has major safety concerns about Boeing Co’s 737 Max, the deputy head of the country’s aviation regulator said on Monday when asked if it was considering following others in allowing the plane to fly again. Once issues have been fully addressed, China will conduct a final review of the aircraft, Dong Zhiyi said at a briefing in …

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• 1 March

  Thai Air seeks $1.65bn infusion under revamp

  

  Bloomberg Thai Airways International Pcl is seeking a capital infusion of as much as 50 billion baht ($1.65 billion) under a debt restructuring plan set to be submitted to a bankruptcy court to keep the flag carrier operational, according to people familiar with the matter. The fund may be raised through equity, loans or convertible securities, said the people, who …

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• 1 March

  City of London wants retail expansion despite slump

  

  Bloomberg London’s main financial district expects demand for stores from workers and visitors to increase even as retailers go bust because more consumers are shopping online. The City of London’s local government expects investors to add 122,500 square metres (1.3 million square feet) of retail space in the district over the coming 15 years, according to a proposed development plan. …

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• 1 March

  Walmart lures Goldman bankers in bid to fight Wall Street

  

  Bloomberg Walmart Inc has lured a pair of senior Goldman Sachs bankers to help lead a new fintech startup as the retail giant muscles into the banking business. Omer Ismail, the head of Goldman’s consumer bank, is making a surprise exit to the fintech, according to people with knowledge of the matter. The world’s largest retailer made a splash last …

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• 1 March

  Heathrow to charge departing passengers

  Bloomberg London’s Heathrow airport will charge departing passengers an extra 8.90 pounds ($12.40) in an effort to claw back costs as the coronavirus crisis depresses air travel. The tariff is permitted by the UK’s aviation regulator under a protocol that allows the hub to cover costs for utilities, baggage and check-in services. Heathrow makes “zero profit” from such activities, with …

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• 1 March

  RBA doubles down in defense of yields amid bond rebound

  

  Bloomberg The Reserve Bank of Australia (RBA) doubled down on bond purchases on Monday, spurring the biggest drop in yields in a year as policy makers around the world seek to check runaway bets on reflation. The central bank announced plans to buy more than $3 billion of longer-dated securities, following up on a surprise boost in purchases of shorter-maturity …

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• 1 March

  Bank of Japan ready to defend yield range

  

  Bloomberg Bank of Japan (BOJ) officials are still prepared to stem any risk of Japan’s benchmark bond yield rising too much ahead of a policy review later this month and could even act before it hits 0.2%, according to people familiar with the matter. The central bank has no pre-set yield level in mind for entering the market as it …

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• 1 March

  Bank of Ireland set to close third of branches

  

  Bloomberg Bank of Ireland group will cut its branch network by about a third as the pandemic drove customers online and further away from its offices. The lender will shut 88 of its 257 branches in Ireland and 15 of 28 outlets in Northern Ireland, it said in Dublin on Monday. Bank of Ireland shares rise as much as 4.4% …

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• 1 March

  Bank of England aligns with Fed over rout in bond market

  

  Bloomberg In the showdown between traders and central bankers over rising bond yields, the Bank of England (BOE) is aligned more with the relaxed views of the US Federal Reserve than peers in Asia and Europe that are trying to rein in markets. Addressing the topic for the first time late last week, BOE policy makers echoed Fed officials in …

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• 1 March

  Philippine peso eyes technical support in yield storm

  

  Bloomberg The Philippine peso has been under siege from rising Treasury yields and buoyant crude prices. But technicals may offer some support. The peso slumped to its lowest level in six months last week following an extension of coronavirus-led curbs in the nation and delays in vaccine rollouts. The 10-year Treasury yield’s surge to 1.6% added to the bearish sentiment. …

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