October, 2021

• 12 October

  Southwest cancels 28% of flights, blames controllers

  Bloomberg Southwest Airlines Co cancelled more than a quarter of its scheduled flights, citing issues with air traffic control and disruptive weather as it works to resume normal operations. Some 1,018 flights — 28% of Southwest’s total for the day — were cancelled by the Dallas-based carrier as of 4:15 pm New York time on on October 10, according to ...

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• 12 October

  D&G bets on independent future after China stumble

  

  Bloomberg Dolce & Gabbana (D & G) plans to remain independent to preserve its creative freedom, even as the Italian fashion house claws back sales lost to the pandemic and a bungled ad campaign in China. The privately held label is a favourite of investment bankers looking to drum up interest in a potential deal, but the Milan-based company has ...

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• 12 October

  US cosmetic-services firm plans for IPO

  Bloomberg Ideal Image, which provides services including laser hair removal, botox and skin lifts, is exploring a US initial public offering, according to people with knowledge of the matter. The company, which is majority-owned by private equity firm L Catterton, is working with advisers ahead of a potential listing that could occur as soon as this year, the people said. ...

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• 12 October

  US says Taliban ‘professional’ in first talks since evacuation

  

  Bloomberg The US called the Taliban “candid and professional” in their first official meeting since the chaotic American withdrawal from Afghanistan in August, with weekend talks focusing on wide-ranging issues including security, terrorism and human rights. The discussions in Doha, Qatar, covered the need for safe passage of US citizens, other foreign nationals and Afghan partners, State Department spokesman Ned ...

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• 12 October

  Ex-president on trial for murder of iconic Burkinabe leader

  

  Bloomberg Burkina Faso’s exiled former president stands trial on Monday for the murder of Thomas Sankara, the iconic African leader killed in a putsch three decades ago. Blaise Compaore, who ruled the West African nation for 27 years until he was removed in a popular uprising in 2014, will be tried in absentia at a military tribunal in the capital, ...

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• 12 October

  China, India point fingers at each other in new border talks

  

  Bloomberg China and India blamed each other for a lack of progress in finding ways to ease friction along their disputed border, underscoring the lingering ill will following clashes last year. The Chinese side “made great efforts” to calm tensions during a meeting of military officials, Colonel Long Shaohua, spokesperson for the Western theater of the People’s Liberation Army (PLA), ...

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• 12 October

  Austria gets new leader who will rule under Kurz’s gaze

  Bloomberg Austria’s new Chancellor Alexander Schallenberg vowed to work closely with his predecessor and future party whip, Sebastian Kurz, who was reduced to a parliamentary role by a corruption scandal. The new premier, almost two decades older than Kurz, said he’ll continue to work along the lines of a coalition program signed with the Green Party in 2020. That includes ...

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• 11 October

  PBOC drains most cash in a year from banking system

  

  Bloomberg China drained the most short-term liquidity from the banking system in a year on a net basis as it reduced support after a week-long holiday. Government bond futures slid by the most since August. The People’s Bank of China (PBOC) offered 10 billion yuan ($1.6 billion) of short-term funds to lenders, resulting in a net liquidity withdrawal of 330 ...

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• 11 October

  BOE officials double down on signals of a rate increase

  

  Bloomberg Two Bank of England (BOE) officials moved to reinforce signals of an imminent rise in UK interest rates to curb inflation, with one telling households to brace for a “significantly earlier” increase than previously thought. Michael Saunders, one of the most hawkish members of the Monetary Policy Committee, suggested in remarks that investors were right to bring forward bets ...

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• 11 October

  Reserve Bank of India halts some pandemic-era stimulus

  

  Bloomberg India’s central bank surprised markets by suspending its version of quantitative easing, signalling the start of tapering pandemic-era stimulus measures as an economic recovery takes hold. There’s no need for further bond-buying, Reserve Bank of India (RBI) Governor Shaktikanta Das said in an online broadcast, while stressing the step is not a reversal of its accommodative policy stance. The ...

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