December, 2020

• 6 December

  Boeing mulling equity sale, plans new cut to 787 output

  

  Bloomberg Boeing Co is studying an equity sale and other ways to ease a debt burden that has soared to $61 billion this year amid the worst slump in aviation history. Adding to the financial stress, Boeing will trim output of its 787 Dreamliner to five planes a month by mid-2021, one less than previously planned, Chief Financial Officer Greg …

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• 6 December

  Singapore Air to make room for Covid vaccines

  

  Bloomberg Singapore Airlines will prioritise freight capacity to ship Covid-19 vaccines and will conduct test flights soon to trial the process, the Straits Times reported, citing a company statement and an executive’s comments Cargo space will be made available to prioritise the vaccine shipments across key trade lanes, the report said. Boeing Co 747-400 freighters, as well as passenger aircraft, …

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• 6 December

  New South African airline to fly even as crisis grips market

  

  Bloomberg A new airline is preparing to start flights in South Africa next week, entering the industry at a time when carriers near and far are going bankrupt amid the worst crisis in aviation history. Lift, owned by Johannesburg-based leasing company Global Airways, will operate three Airbus SE A320 jets and look to tap returning domestic demand after an almost …

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• 6 December

  UK retail landlords facing a hard reality

  

  Bloomberg UK retail landlords are facing a hard reality: the rapid approval of a vaccine has come too late for thousands of their stores. The collapse of department store chain Debenhams Plc and Philip Green’s Arcadia Group this week caps an unremittingly brutal year for the owners of brick and mortar stores. The demise of these retailers alone threatens 16.6 …

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• 6 December

  American Air sees demand slowdown

  Bloomberg American Airlines Group Inc is seeing a slowdown in demand because of surging coronavirus cases, signalling a weaker outlook heading into the year-end holidays. After a strong start for the fourth quarter, a deceleration in net bookings growth began before Thanksgiving and has persisted into this month, American said in a regulatory filing. As a result, the company expects …

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• 6 December

  UK to exempt ‘high-value’ travellers from quarantine

  Bloomberg The UK moved to exempt “high-value” executives from rules requiring people entering the country to quarantine for two weeks, in a move designed to boost business. The rule change means that from 4 am on Saturday, business people arriving in the UK from countries that aren’t on the UK’s travel corridors list won’t have to self-isolate for 14 days, …

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• 6 December

  ECB urged to extend bank dividend ban by six months

  

  Bloomberg Europe should extend its de-facto ban on bank dividends by six months, a top official at the European Central Bank’s (ECB) supervisory arm said, casting a shadow over investors’ hopes for a return to payouts early next year. The comments come as big banks across Europe are facing fraught times, with regulators at the ECB and the Bank of …

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• 6 December

  Goldman opens Luxembourg wealth outpost for Brexit

  

  Bloomberg Goldman Sachs Group Inc opened a Luxembourg-based entity to service rich individuals based in the European Union, the latest in the Wall Street bank’s series of moves to avoid Brexit disruption. The Luxembourg branch of subsidiary Goldman Sachs Bank Europe SE opened last month, according to regulatory records. It will be used for some of Goldman’s European private wealth …

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• 6 December

  India’s RBI vows easy money as long as needed to aid growth

  

  Bloomberg India’s central bank pledged to keep its easy money policy for as long as necessary to support the virus-battered economy, while for now leaving borrowing costs unchanged amid stubborn inflation. The Reserve Bank of India (RBI) will use a variety of tools to ensure easy financing conditions and market stability, Governor Shaktikanta Das said after a meeting of the …

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• 6 December

  Deutsche Bank to replace core IT systems into ‘cloud’

  

  Bloomberg Deutsche Bank AG expects to ultimately replace large parts of its core banking system with alternatives powered by Alphabet Inc’s Google, as the German lender embarks on its biggest effort yet to modernise computer systems that have hampered it for years. The two companies finalised a cloud computing agreement under which the German lender plans to shift most of …

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