December, 2020

• 30 December

  Mainland cash chasing HK stocks after record year

  

  Bloomberg In a year disrupted by a global pandemic, political upheaval and abrupt setbacks for some of Hong Kong’s biggest stocks, investors point to one constant as to why 2021 looks brighter: the relentless levels of money coming in. Mainland investors have bought a net HK$666 billion ($86 billion) of the city’s shares, easily the most since both of Hong …

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• 30 December

  Dollar slips, US futures advance in thin trading

  

  Bloomberg Trading across global markets was subdued in one of the final sessions of the year, with the dollar weakening and US equity futures gaining. Contracts on the S&P 500 added 0.3 percent as the US government started sending $600 stimulus checks to Americans. In Europe, the Stoxx 600 Index edged higher in thin trading. Bitcoin continued its frenetic rally, …

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• 30 December

  Oil pushes higher aided by dollar amid grim outlook

  

  Bloomberg Oil pushed higher with support from a weakening dollar as investors weighed a worsening short-term demand outlook against an eventual rebound as Covid-19 vaccines are rolled out. Futures in New York rise above $48 a barrel, though liquidity was thin in the period between Christmas and New Year. A dip in the dollar boosted the appeal of commodities such …

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• 30 December

  UK power grid heads for greenest year with renewables growth

  

  Bloomberg Britain’s power generation industry is headed for its greenest year yet as more renewable capacity is added and coal plants are needed less often. The carbon intensity — a measure of the environmental impact of generating electricity — has dropped 60% in the UK in the six years to 2019 and is on track to reach another low this …

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• 30 December

  Orsted enters $2.7b deal to sell stake in Taiwan

  

  Bloomberg Orsted, the world’s biggest developer of offshore wind parks, agreed to sell a stake in a farm off coast of Taiwan in a deal worth $2.7 billion. The agreement hands Caisse de depot et placement du Quebec and Cathay PE, a Taiwanese private equity fund, 50% of Orsted’s 605 megawatt Greater Changhua 1 Offshore Wind Farm, Danish company said. …

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• 30 December

  Southwest to avoid first layoffs as relief bill clears

  

  Bloomberg Southwest Airlines Co. said it would rescind plans to cut jobs and wages next year, now that new federal payroll support has been approved, averting what would have been the first worker layoffs in the carrier’s history. US airlines will receive $15 billion to pay workers as part of the package President Donald Trump signed into law on Sunday. …

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• 30 December

  Chinese retailers see rise in loan rejections

  

  Bloomberg Smaller Chinese companies and those in the retail industry are struggling to access credit amid a weak recovery in consumer spending, according to China Beige Book International (CBBI), a provider of independent economic data. Loan rejection rates for retail businesses increased to 38% in the final quarter of 2020 from 14% in the previous quarter, according to the latest …

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• 30 December

  Drone-crowded skies get one step closer with new US security rules

  

  Bloomberg Commercial drone use for deliveries and services is set to clear a major hurdle in the US as soon as this week with new requirements that most of the devices transmit a radio beacon with a digital license plate to help ensure safety and prevent misuse. All but the smallest drones will have to broadcast a radio signal identifying …

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• 30 December

  Ryanair, Wizz cut non-EU voter rights, citing Brexit

  

  Bloomberg Ryanair Holdings Plc and Wizz Air Holdings Plc will take away the voting rights of shareholders outside of the European Union to ensure they comply with the bloc’s airline ownership rules after the Brexit transition. All non-EU nationals will lose their voting rights from January 1, Irish discounter Ryanair said on Tuesday in a statement. Hungarian rival Wizz said …

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• 30 December

  French retailers seek aid as sales fail to recover

  Bloomberg French retailers called for government support after sales failed to rebound fully from a second lockdown, suggesting measures to fight the coronavirus pandemic are changing consumer patterns. Despite a good pick-up in spending thanks to Black Friday discounts and year-end purchases, many clothing, shoe, jewelry, beauty-product and perfume retailers face a drop in revenue of more than 20% in …

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