November, 2021

• 11 November

  Message in gold’s bad vaccine year

  

  It’s been 12 months. On November 9 last year, Pfizer Inc awoke the world to the triumphant news that it had developed a vaccine for Covid-19 that worked. It was one of the clearest market turning points in memory. As far as most of us were concerned, it was also one of the best items of news we could remember. ...

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• 11 November

  Middle managers will decide diversity drive

  Firms are at pains to promote diversity in their leadership and at the entry level. But what about the vast mass of employees in between? Socially minded investors need to have middle managers in their sights too. The terms for middle management — “permafrost,” “the frozen middle” — are generally miserable. “Frontline managers” is often preferred. However they’re described, the ...

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• 11 November

  Banks led by JPMorgan have $125b for you!

  Big banks are rolling in free cash, but investors are struggling to believe that some of them will ever hand it over. They should take another look. Fifteen of the biggest US and European banks have piled up more than $125 billion of excess capital after the first nine months of 2021. Profits soared after a spell of record corporate ...

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• 11 November

  British Airways plans Gatwick relaunch post union deal in ’22

  

  Bloomberg British Airways (BA) is set to operate a new unit offering European flights from London Gatwick airport in March following a deal with cabin crew. The breakthrough in talks with flight attendants comes after an earlier deal with pilots and leaves only terms with ground staff to be settled, Luis Gallego, chief executive officer of BA parent IAG SA, ...

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• 11 November

  Indian beauty site soars 89% in trading after IPO

  

  Bloomberg FSN E-Commerce Ventures Ltd, the entity that operates the Indian beauty startup Nykaa, rose as much as 89% on debut, even as the broader equity market dipped. The Mumbai-based firm was trading at 2,063 rupees ($28) as of 10:13 am in Mumbai on Wednesday, after pricing its initial public offering at 1,125 rupees per share, the top of a ...

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• 11 November

  Sydney Airport sells for $17b as Australia reopens borders

  Bloomberg Sydney Airport agreed to sell itself to a consortium of funds for $17 billion, just as Australia reopens its borders to international travel. The airport’s board accepted an offer of A$8.75 per share from a group led by IFM Investors, and unanimously recommended shareholders vote to approve the deal early next year, the company said. The agreement is the ...

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• 11 November

  Putin brushes off Merkel’s call to stop Belarus on migrants

  

  Bloomberg President Vladimir Putin brushed off a request by Chancellor Angela Merkel to exercise his influence over Belarus as the European Union prepares a fresh raft of sanctions against the regime in Minsk for channeling thousands of migrants to the bloc’s border. With footage of clashes on Poland’s frontier with Belarus and EU leaders accusing the country’s president, Aleksander Lukashenko, ...

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• 11 November

  Myanmar charges American journalist with terrorism

  

  Bloomberg An American journalist faces new charges of terrorism and sedition nearly six months after he was detained by the military junta, his lawyer said, dealing a fresh blow to US efforts to free him. Danny Fenster, managing editor of Frontier Myanmar news outlet, could face a maximum sentence of life in prison if he is found in breach of ...

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• 11 November

  Trump fails to block January 6 Capitol riot committee from getting records

  

  Bloomberg Former President Donald Trump failed to block the release of documents sought by a US House panel investigating the January 6 Capitol riot. US District Judge Tanya Chutkan in Washington denied Trump’s request for an injunction, saying “public interest lies in permitting — not enjoining — the combined will of the legislative and executive branches to study the events ...

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• 11 November

  China banks on green loans to drive decarbonisation efforts

  

  Bloomberg China’s central bank will offer cheap funding to banks which lend to firms that are working towards the nation’s goal of reducing carbon emissions. The People’s Bank of China (PBOC) will lend financial institutions money to help them provide loans to firms working on China’s energy transition, according to a statement. The central bank will lend 60% of the ...

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