March, 2021

• 4 March

  Ting Hsin weighing $800m IPO of KFC’s Chinese rival

  Bloomberg Ting Hsin International Group, the Taiwanese food company behind the Master Kong brand, is weighing a Hong Kong initial public offering (IPO) of its restaurant business in mainland China, people with knowledge of the matter said. The firm has invited banks to pitch for a role on the listing, said the people, who asked not to be identified as …

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• 4 March

  Nike’s executive saga exposes uneasy ties with resellers

  

  Bloomberg A senior Nike Inc executive’s abrupt departure has laid bare the sometimes-uncomfortable relationship between sneaker makers and the underground network of resellers who thrive off their brands. The sneakerhead community was buzzing over the resignation of Ann Hebert, Nike’s vice president and general manager of North America. The revelation came just days after a Bloomberg Businessweek report about her …

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• 4 March

  Canada Goose, NBA announce clothing line

  Bloomberg Canada Goose Holdings, the company known for its Arctic-ready luxury parkas, announced a partnership with the National Basketball Association (NBA) that will showcase its foray into warmer-climate collections. Under the multiyear agreement, Toronto-based Canada Goose will produce capsule collections timed around the NBA’s annual midseason All-Star game. The manufacturer will collaborate with different designers, starting this year with LA-based …

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• 3 March

  Stocks advance with US futures; Treasuries slip

  

  Bloomberg Stocks rise with US equity futures on Wednesday as concerns over valuations eased and the focus turned back to the stimulus-fuelled recovery from the pandemic. Treasury yields edged higher. The Stoxx 600 Index climbed for a third straight session, with UK shares outperforming after UK Chancellor of the Exchequer Rishi Sunak extended furlough pay for workers ahead of presenting …

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• 3 March

  China traders await policy signals to boost faltering stocks

  

  Bloomberg China’s defense and technology sectors may offer investor opportunities as the nation’s top political meeting starts this week, which could help inject fresh impetus into the country’s equities. Measures to help achieve President Xi Jinping’s pledge of a carbon neutral economy by 2060 could be released at the meeting which begins on Friday, according to brokerages including Guotai Junan …

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• 3 March

  Oil sinks to $60 before Opec+ meets to decide on supplies

  

  Bloomberg Oil held steady just days before many of the world’s largest producer nations meet to discuss how much crude they should supply in the coming months. Crude futures in New York were trading near $61 a barrel. Opec and its allies will meet on Thursday to decide if they will ease supply curbs further after Saudi cuts pushed the …

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• 3 March

  Sudan keen to reinforce ties with UAE, GCC: Minister

  

  KHARTOUM / WAM Mariam Assadiq Al Mahdi, Sudanese Minister of Foreign Affairs, lauded the cooperation between the UAE and Sudan, stressing her country’s keenness to reinforce its relations with the UAE and other Gulf Cooperation Council countries. She made this statement during her meeting with a delegation from the Al Maktoum Foundation, led by Mirza Al Sayegh, Director of the …

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• 3 March

  China power giant wants to get ahead on Xi’s emissions goals

  

  Bloomberg China’s utility giant is planning to upgrade its massive electricity grid over the next few years to allow it to move away from coal generation and reach peak carbon emissions as soon as possible. State Grid Corp of China will build new ultra-high voltage transmission lines, speed up construction of pumped hydro storage plants, and accelerate the development of …

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• 3 March

  India’s BPCL to sell its Numaligarh unit stake for $1.3b

  

  Bloomberg India’s state-run Bharat Petroleum Corp will offload its holding in its unit Numaligarh Refinery Ltd for 98.78 billion rupees ($1.3 billion) as part of its own privatisation process. The second-biggest state refiner will sell its 61.65% holding in Numaligarh Refinery to a consortium of state-run firms Oil India Ltd and Engineers India Ltd and may also include the provincial …

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• 2 March

  RBNZ: ‘Prolonged’ monetary stimulus remains necessary

  

  Bloomberg New Zealand’s central bank (RBNZ) signalled it is in no rush to remove monetary stimulus, saying inflation will slow next year and the economic outlook remains highly uncertain amid the Covid-19 pandemic. “Prolonged monetary stimulus” remains necessary and “considerable time and patience” will be required to meet its inflation and employment targets, the Reserve Bank said in a statement …

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