March, 2021

• 25 March

  UK to help North Sea oil industry with low-carbon shift

  

  Bloomberg The UK government said it reached an agreement with country’s oil and gas industry that will help safeguard jobs as the nation strives to achieve net-zero emissions of greenhouse gases. The North Sea transition deal sets out a path to attract investment into renewable energy, carbon-capture and storage, and hydrogen. Spending of as much as $22 billion by 2030 …

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• 25 March

  UK underestimating cost to make homes climate-friendly

  

  Bloomberg The UK government has “significantly underestimated” how much it will cost to decarbonise heating in British homes, a touchstone of its net zero promise. The simple step of insulating Britain’s drafty homes is essential before gas boilers can be replaced with low carbon technology like heat pumps. The cost of improving energy efficiency could be as much as 18,000 …

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• 24 March

  New-home sales in US fall to nine-month low

  Bloomberg US sales of new homes declined in February to a nine-month low as severe winter weather in parts of the country limited foot traffic against a backdrop of elevated prices that may be restraining momentum. Purchases of new single-family homes decreased 18.2% — the sharpest decline since July 2013 — to a 775,000 annualised pace from an upwardly revised …

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• 24 March

  Turning point for Malaysia stocks as foreigners pile in

  

  Bloomberg Overseas investors have been pulling out of Malaysian equities for 20 straight months. March could mark the turn of the tide. Foreigners have poured a net $97 million into local stocks this month through March 22, while withdrawing a combined $1 billion from four other Southeast Asian markets tracked by Bloomberg. The inflows come as valuation of Malaysia’s main …

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• 24 March

  Nasdaq leads futures higher as yields drop

  

  Bloomberg The Nasdaq 100 Index led US equity futures higher while Treasury yields were poised for a third day of declines. Futures on the S&P 500 and Dow Jones Industrial Average also pointed to a recovery in the underlying gauges which slipped amid a setback for reopening favourites. Government bond yields fall across Europe. Assurances by Federal Reserve Chairman Jerome …

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• 24 March

  US welcomes Saudi Arabia’s initiative to end Yemeni crisis

  WASHINGTON / WAM The United States welcomed Saudi Arabia’s initiative to end the Yemeni crisis, as well as Yemen’s Government commitment to a ceasefire and political process in the country. Deputy Spokesperson at the US Department of State Jalina Porter affirmed during a press meeting that discussions in support of peace efforts are ongoing, calling on all parties to commit …

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• 24 March

  Deliveroo kicks off $2.5b IPO, UK’s largest in 2021

  

  Bloomberg Food-delivery startup Deliveroo Holdings Plc started taking investor orders in a share sale of as much as 1.77 billion pounds ($2.45 billion), marking the largest initial public offering (IPO) in the UK since September. Deliveroo is selling shares at 3.90 pounds to 4.60 pounds apiece, according to a statement, valuing the company at 7.6 billion pounds to 8.8 billion …

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• 24 March

  EU suggests global airline emissions plan ineffective

  

  Bloomberg A European Union (EU) report found that an aviation industry agreement to tackle global carbon-dioxide emissions may not have a materially positive impact on the environment. The findings were made in September by the Directorate-General for Climate Action and published by non-profit Transport & Environment, which obtained the report. It said the Corsia system is less effective than existing …

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• 24 March

  Korea travel app eyes dual IPO listing at $4 billion-plus value

  

  Bloomberg South Korea’s largest travel app Yanolja Co. is in talks with banks to go public through a dual listing in Seoul and overseas, people with knowledge of the matter said, joining a growing cohort of startups seeking higher valuations abroad. The company is aiming for a value of more than $4 billion, one of the people said, confirming previous …

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• 24 March

  British Airways weighs sale of its headquarters

  Bloomberg British Airways is considering putting its sprawling headquarters in London up for sale as the flagship UK carrier plans for a so-called hybrid approach to working, according to an internal email. The airline has hired a specialist property company to gauge if a sale of the building, known as Waterside, would be beneficial, Stuart Kennedy, BA’s director of people, …

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