September, 2020

• 2 September

  Tech IPOs are booming everywhere but in Europe

  

  Bloomberg Tech stocks around the world are pushing all-time highs, spurring headline-grabbing listings by the dozen, yet in Europe the biggest news in the sector is a company looking to leave public markets. Startup factory Rocket Internet SE has brought at least nine initial public offerings (IPOs) to market over the past five years, but said it would be “better …

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• 1 September

  Global trade seen recovering faster now than post-Lehman

  

  Bloomberg Global trade is on course to recover more quickly from the coronavirus pandemic than after the 2008 financial crisis, according to Germany’s Kiel Institute for the World Economy. Shipping volumes are already back at levels that took more than a year to reach following the collapse of Lehman Brothers Holdings Inc., hinting at a V-shaped recovery, the institution’s President …

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• 1 September

  Trump relaxes limits on toxic waste from coal power plants

  

  Bloomberg The Trump administration is relaxing Obama-era requirements stemming toxic heavy metal pollution from coal-fired power plants. Under the Environmental Protection Agency (EPA) rule, electricity companies would have more time and flexibility to treat power plant wastewater that contains mercury, arsenic and other toxic heavy metals. Older coal power plants that are shutting down or switching to natural gas by …

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• 1 September

  Total enters Korean floating wind projects

  

  Bloomberg Total SE will team up with Macquarie Group’s green bank to develop more than 2 gigawatts of floating wind farms off South Korea, the latest push by the French oil and gas giant to diversify into clean energy. Total and European peers such as Royal Dutch Shell Plc and BP Plc have vowed to reduce their exposure to fossil …

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• 1 September

  UK’s electricity gets cleaner in lockdown

  Bloomberg UK electricity has never been cleaner. As wind, solar and biomass plants produced more power than ever in the second quarter, carbon emissions fell by a third from a year earlier, according to Drax Electric Insight’s quarterly report. Power prices slumped 42% as demand plunged during lockdown. “The past few months have given the country a glimpse into the …

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• 1 September

  Walmart’s Amazon Prime challenger to launch soon

  

  Bloomberg Walmart Inc’s answer to Amazon Prime finally has a launch date. The new subscription programme, dubbed Walmart+, will be available from September 15, the world’s largest retailer said in a statement. The program costs $98 a year, a discount to rival Amazon’s $119 annual Prime membership, and includes unlimited free delivery — including on groceries — plus gasoline discounts. …

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• 1 September

  Air France-KLM firms up plan to raise funds

  

  Bloomberg Air France-KLM is firming up a plan to raise funds by May of next year after agreeing a rescue package from the Dutch and French governments to help outlast the global aviation crisis. The carrier “intends to implement measures to strengthen its equity and quasi-equity,” Air France-KLM said in a statement Tuesday, reiterating a timeline given previously by Chief …

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• 1 September

  Wizz says Covid rules halting its expansion

  

  Bloomberg Wizz Air Holdings Plc dropped plans to increase capacity to 80% next quarter after a resurgence of travel restrictions dented demand. The Hungarian carrier will maintain its current 60% level for the period ending in December if stricter measure continue including in its home country, it said on Tuesday in a statement. Further reductions are possible and the carrier …

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• 1 September

  Vietnam may resume intl commercial flights soon

  

  Bloomberg Vietnam’s Civil Aviation Authority is working on a plan to resume international flights from September 15 with all passengers quarantined for 14 days upon arrival in the country, according to a post on the government’s website, which cited Dinh Viet Thang, director of the authority. The first international flights under the plan will be to Japan and South Korea, …

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• 1 September

  JC Penney lenders plan takeover after sales talks stall

  

  Bloomberg JC Penney Co’s lenders are preparing to take ownership of the retailer as talks with potential outside buyers reach an impasse, an attorney for the company said in a bankruptcy court hearing. “We’ve hit a stalemate,” the attorney, Joshua Sussberg of Kirkland & Ellis LLP, said in the hearing. “Our lenders will no longer be held hostage” by outside …

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