May, 2021

• 30 May

  Retail frenzy lifts three of Asia’s top-performing stock markets

  

  Bloomberg Three of Asia’s best-performing stock markets this year are also ones where individual investors are playing out-sized roles, underscoring the growing influence of retail traders around the world. Nowhere is this more apparent than in Vietnam, where individuals account for about 90% of turnover and the VN Index has surged 20% in 2021, the most among major benchmarks in …

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• 30 May

  Great inflation trade of 2021 takes a back seat on Wall Street

  

  Bloomberg Wall Street’s great inflation trade is losing steam, judging by a slew of cross-asset signals and where all the investing billions are actually going. With reflation strategies again playing second-fiddle to the crypto volatility and meme stock mania, stable Treasury yields helped the tech-heavy Nasdaq 100 outperform the Dow Jones Industrial Average by the most in seven weeks. Debt …

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• 30 May

  Biden tax plan forecast to bring in $3.6tr in decade

  

  Bloomberg President Joe Biden’s proposed tax hikes are forecast to bring in $3.6 trillion over the next decade, the Treasury Department said, a key funding source for the $4 trillion he hopes to spend remaking the American economy and social safety net. The figure, representing the sum of all tax increases if enacted by Congress, came as is part of …

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• 30 May

  Oil posts best week since April on eve of summer travel season

  

  Bloomberg Oil posted its biggest weekly gain since the middle of April ahead of the US Memorial Day weekend that kicks off country’s summer driving season. West Texas Intermediate rises 4.3% this week. A spate of positive US economic data this week continued to highlight the recovery taking shape in the world’s largest oil-consuming country, while Americans are expected to …

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• 30 May

  Boeing halts 787 deliveries again, works with FAA on fix

  

  Bloomberg Boeing Co has halted deliveries of its 787 Dreamliner just two months after restarting them as the company works to get regulatory approval for its plan to resolve previously disclosed quality issues. The planemaker is providing the US Federal Aviation Administration (FAA) with added analysis and documentation of proposed fixes for undelivered jets, according to a company statement. The …

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• 30 May

  US aviation officials urge crews caution over Belarus

  

  Bloomberg US aviation officials urged flight crews operating over Belarus to exercise “extreme caution,” but stopped short of a ban on overflights of the region. The Federal Aviation Administration (FAA) issued a so-called notice to airmen in the wake of the forced diversion of an airliner carrying a political opponent of that nation’s government. The European Union’s air-safety regulator advised …

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• 30 May

  Best Buy boosts its forecast on ‘extraordinarily high’ demand

  

  Bloomberg Best Buy Co boosted its full-year sales forecast after revenue soared in the first quarter, fueled by what it deemed “extraordinarily high” demand for its electronics that has continued even as the pandemic wanes. The shares rose. The big-box retailer said it now sees company-wide comparable sales rising between 3% and 6% this fiscal year. It had earlier expected …

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• 30 May

  Qantas dangles free trips for Covid-vaccinated travellers

  

  Bloomberg Qantas Airways Ltd is considering giving free flight vouchers or air miles to people who’ve had Covid-19 shots, joining a growing list of businesses offering vaccination incentives to kick-start global travel. While details haven’t been finalised, fully inoculated Qantas frequent fliers might also be offered free loyalty status credits, Qantas said in a statement. The program is due to …

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• 30 May

  Covid-19: Myanmar suspends domestic flights as cases surge

  Bloomberg Myanmar suspended some domestic flights and imposed restrictions in some townships to fight a surge in Covid cases in the past two days, the Ministry of Health and Sports said. Domestic flights between the commercial capital, Yangon, and at least five cities will be suspended for at least two weeks beginning from May 29. Myanmar Airways International-Air KBZ Group, …

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• 30 May

  Garuda confirms debt restructuring plans

  Bloomberg Indonesia’s flag carrier PT Garuda Indonesia confirmed it is taking steps to restructure its debt and revamp its business in order to stay afloat amid the pandemic. The airline is negotiating terms with plane lessors and is talking with banks and business partners to restructure its loans, according to a stock exchange filing submitted. The coronavirus outbreak has forced …

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