January, 2021

• 26 January

  Dr Martens shareholders seek $1.8b in London IPO

  

  Bloomberg Dr Martens owner Permira Holdings and other shareholders are looking to raise as much as 1.3 billion pounds ($1.8 billion) in an initial public offering of the shoemaker on the London Stock Exchange, betting on the enduring popularity of its cult leather boots. The company doesn’t plan to raise any money itself in the IPO. Private equity firm Permira …

  Read More »
• 26 January

  KLM to keep flying long haul with testing deal

  

  Bloomberg Air France-KLM’s Dutch unit will keep operating long-haul flights as it reached a deal to have staff undergo a rapid Covid-19 test upon return to the Netherlands, eliminating the risk of leaving crews behind. KLM urged the Dutch government to exempt its staff from a new requirement for mandatory pre-departure virus testing. It said it would otherwise halt all …

  Read More »
• 26 January

  India’s domestic aviation nearing pre-Covid levels

  Bloomberg India’s domestic civil aviation operations continue steadily and the sector is nearing pre-pandemic levels, according to Civil Aviation Minister Hardeep Singh Puri. As many as 257,613 passengers flew locally as on January 22, compared with 30,000 passengers that traveled by air when such flights were restarted on May 25, Puri said in a Twitter post. “We are now within …

  Read More »
• 26 January

  Japan’s Shiseido in talks to sell personal-care business to CVC

  

  Bloomberg Shiseido Co is in advanced talks to sell its shampoo and affordable skincare business to CVC Capital Partners for 150 billion to 200 billion yen ($1.45 billion-$1.9 billion), as the Japanese cosmetics maker shifts its focus to premium beauty products, people with knowledge of the matter said. The board of Shiseido is preparing to vote on the divestment soon, …

  Read More »
• 26 January

  Boohoo, Asos seek to rescue failed clothing brands online

  

  Bloomberg Online fashion retailers Boohoo Group Plc and Asos Plc are seeking to rescue ailing UK retail mainstay brands like Debenhams and Topshop. Boohoo said it’s buying the Debenhams brand for 55 million pounds ($75 million). Separately, Asos Plc said it’s in exclusive talks with administrators of Philip Green’s Arcadia Group Ltd to buy the UK retailer’s Topshop brand and …

  Read More »
• 26 January

  Thai tourist arrivals at decade low

  Bloomberg Foreign tourist arrivals into Thailand plunged to the lowest level in at least 12 years after the country closed its borders to contain the coronavirus outbreak, with a resurgence in infections now undermining efforts to reopen the industry. Tourist arrivals slumped to 6.7 million in 2020 from 39.9 million a year earlier, data from the Ministry of Tourism and …

  Read More »
• 26 January

  European banks set to trail Wall Street as provisions swell

  

  Bloomberg European banks probably failed to live up to US peers’ record fourth-quarter profits as they set aside more money for troubled loans and missed out on the rally in equities trading. Ten of Europe’s biggest lenders probably set aside $15 billion for doubtful credit in the fourth quarter, taking the year’s total to $61.5 billion, the highest since 2012, …

  Read More »
• 26 January

  HSBC’s CEO faces UK questions over HK account freezes

  

  Bloomberg HSBC Holdings Plc’s Chief Executive Officer (CEO) Noel Quinn is set to appear before the UK Parliament Foreign Affairs Committee to answer questions over the lender’s moves to freeze accounts of activists in Hong Kong, according to an exiled lawmaker. Quinn is listed as a participant, along with Colin Bell, the bank’s chief compliance officer, at private and public …

  Read More »
• 26 January

  Morgan Stanley’s Gorman top-paid big bank CEO

  

  Bloomberg Morgan Stanley Chief Executive Officer (CEO) James Gorman leaped past JPMorgan Chase & Co.’s Jamie Dimon as the best-paid CEO of a major US bank. Morgan Stanley boosted Gorman’s pay 22% to $33 million for 2020, when the Wall Street bank posted its third consecutive year of record earnings. His pay includes $1.5 million in salary and a $7.88 …

  Read More »
• 26 January

  Deutsche Bank probes sales of investment banking products

  

  Bloomberg Deutsche Bank AG is conducting an internal probe after receiving complaints that some bank employees sold risky investments to clients who didn’t properly understand them, and then shared the profits. “We initiated an investigation in relation to our engagement with a limited number of clients,” a bank spokesman said in a statement following a Financial Times report, adding that …

  Read More »