January, 2021

• 6 January

  Tiffany shareholders’ nod for LVMH sale caps rocky saga

  

  Bloomberg The holiday blessing that Tiffany & Co shareholders gave to sell the storied jeweller to LVMH pushes the contentious transaction closer to the finish line, giving billionaire Bernard Arnault the long-sought pathway to expand his global collection of luxury brands. Tiffany will be dropped from the Standard & Poor’s 500 Index now that the deal has been approved, S&P …

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• 6 January

  Naixue raises new funds at $2b value

  Bloomberg The owner of bubble tea chain Nayuki, also known as Naixue’s Tea in Chinese, has completed a new funding round that values the company at nearly $2 billion, according to people familiar with the matter. Shenzhen Pindao Restaurant Management Co has raised more than $100 million in a series C funding round led by private equity firm PAG, said …

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• 6 January

  IndiGo says some data may be compromised in ‘breach’

  Bloomberg IndiGo, India’s biggest airline, said some segments of its data servers were breached in a hacking incident in December, which may compromise some data. “There is a possibility that some internal documents may get uploaded by the hackers on public websites and platforms,” IndiGo said. “We realise the seriousness of the issue, and are continuing to engage with all …

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• 6 January

  Denmark’s housing market at its tightest since pre-2008 crisis

  

  Bloomberg Not since the lead-up to the 2008 financial crisis has Denmark’s housing market faced a similar gap between supply and demand, according to the home finance unit of Nordea Bank Abp. The number of residential properties for sale has plunged to its lowest in over a decade, Nordea Kredit estimates, citing new figures compiled by the website boligsiden.dk. The …

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• 5 January

  NYSE scraps its plan to delist China telcos in ‘bizarre’ U-turn

  

  Bloomberg The New York Stock Exchange said it will no longer delist China’s three biggest state-owned telecommunications companies, backtracking on a plan that had threatened to escalate tensions between the world’s largest economies. NYSE’s U-turn came with scant explanation just four days after the exchange said it would remove the shares to comply with a US executive order barring investments …

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• 5 January

  European stocks fluctuate with futures; dollar falls

  

  Bloomberg European stocks fluctuated with US equity futures as traders weighed concerns about the impact of rising coronavirus cases and braced for key US runoff elections. The dollar falls and gold held Monday’s gains. Energy firms and retailers led the Stoxx 600 Index as the UK went back into lockdown in an attempt to prevent hospitals being overwhelmed. Next Plc …

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• 5 January

  China delistings threaten $144b US fundraising boom

  

  Bloomberg For more than two decades Chinese companies have turned to the US stock market for capital and international prestige, raising at least $144 billion from some of the world’s largest investors. Now this pillar of China’s integration with the global financial system is increasingly under threat. The latest blow arrived on New Year’s Eve, when the New York Stock …

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• 4 January

  Danske becomes Nordic ESG debt leader after $4b in deals

  

  Bloomberg In one of the world’s busiest regions for green debt issuance, Danske Bank A/S has taken a clear lead. After arranging $4.3 billion of sustainable bond sales for Nordic borrowers in 2020, more than any other bank, Danske now expects the primary market to expand by 25% over the coming 12 months, which would be the most ever. “We …

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• 4 January

  Bitcoin holds near record, Ether surges amid crypto rally

  

  Bloomberg Bitcoin held near a record a day after breaching $34,000 for the first time while Ether, another digital currency, also surged as the crypto rally continues. Ether climbed as much as 22% to about $1,163 following a 30% advance on Sunday. Bitcoin held onto most of its weekend gains, dipping about 1.6% to $33,060 as of 6:53 am on …

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• 4 January

  Banks, developers slump as China caps loans to curb risk

  

  Bloomberg Shares of Chinese banks and developers tumbled on Monday after regulators made an unprecedented move to cap loans for the real estate sector, the latest effort to snuff out systemic risks. The CSI 300 Financials Index dropped 1.2%, while the gauge of Shanghai-listed property developers falls 2.3% to the lowest in six months. Under new rules, the nation’s largest …

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