June, 2020

• 22 June

  American braces balance sheet with $3.5b in financing

  

  Bloomberg American Airlines Group Inc braced its balance sheet with $3.5 billion in new financing, diverging from its recent reliance on federal aid as the coronavirus pandemic suppresses travel demand. The carrier is selling $750 million of shares and the same amount of senior convertible notes due in 2025, American said in a statement, confirming an earlier Bloomberg News report. …

  Read More »
• 22 June

  Bed Bath & Beyond to sell Christmas Tree

  Bloomberg Bed Bath & Beyond Inc is looking to sell its Christmas Tree Shops and Cost Plus World Market chains, according to people familiar with the matter, part of an ongoing makeover of the home-goods company. The people declined to be identified because the process isn’t public. Activist investors pressured the company to oust Chief Executive Officer Steven Temares last …

  Read More »
• 22 June

  European stocks pare losses on optimism over economic recovery

  

  Bloomberg European stocks pared losses and US equity futures rallied as investors bet that the economic recovery will keep going, even as virus infection rates rise. Gold approached the highest since 2012, while Treasuries and the dollar were little changed. Retail stocks climbed, limiting losses in the Stoxx Europe 600 Index. Wirecard AG shares were in freefall again as the …

  Read More »
• 22 June

  Indian stocks gain

  

  Bloomberg Indian stocks rose as they entered their final full week of trading for the quarter, as investors weighed the reopening of the economy against a rising number of novel coronavirus infections in rural areas. The S&P BSE Sensex added 0.9% to 35,038.49 as of 10:22 am in Mumbai, while the NSE Nifty 50 Index advanced 1%. While volatility may …

  Read More »
• 22 June

  Investors should get more selective in H2: JPMorgan

  Bloomberg Investors should be more selective in the next six months as asset returns are likely to diverge because liquidity “cannot paper over specific weaknesses indefinitely,” according to JPMorgan Chase & Co. An “indiscriminate approach” to a portfolio would largely have worked in April and May, when most financial assets rallied — a typical result at a turning point in …

  Read More »
• 21 June

  Saudi Arabia launches $4b tourism development fund

  

  Bloomberg Saudi Arabia started a fund with an initial capital of $4 billion to develop its tourism industry as the oil-rich kingdom seeks to diversify its economy and attract more foreign travellers. The Tourism Development Fund will launch a range of equity and debt investment vehicles and has $45 billion in memorandum of understandings signed with private banks, according to …

  Read More »
• 21 June

  UAE affirms solidarity with Egypt in protecting its security

  Abu Dhabi / WAM The United Arab Emirates has expressed its support for the statements made by Egyptian President Abdul Fattah Al Sisi in Sidi Barrani on Sunday in Libya. The Ministry of Foreign Affairs and International Cooperation (MoFAIC) affirmed the UAE’s solidarity with the Arab Republic of Egypt in all measures taken to safeguard its security against alarming developments …

  Read More »
• 21 June

  Failed US plutonium project ends in fire sale

  

  Bloomberg Need some parts for a nuclear plant? The government has a few to spare. Electrical transformers, motors, and pieces of special glove boxes designed to safely handle radioactive material are available as the government auctions off equipment from a now-abandoned nuclear project that was supposed to turn weapons-grade plutonium into fuel for commercial nuclear reactors. The online fire sale …

  Read More »
• 21 June

  Bond market eyes gathering crowds for clues on path of rates

  

  Bloomberg As social-distancing measures are relaxed across the US, Wall Street is searching in some unconventional places for clues about where interest-rate markets are headed. The rally in US Treasuries buckled to risk-on sentiment earlier this month on signs of progress in the reopening of businesses around the country and a turnaround in economic data. But interspersed with those announcements …

  Read More »
• 21 June

  Investors in Canada turn to sustainable investing amid virus

  

  Bloomberg Sustainable investing is exploding in Canada as the coronavirus and an anti-racism movement highlight long-standing social inequalities. Net inflows into Canadian exchange-traded funds that track companies focusing on environmental, social and governance factors has surged to C$740 million ($544 million). That has already outstripped the C$200 million invested in 2018 and the C$142 million last year, excluding seed capital, …

  Read More »