September, 2021

• 19 September

  BA’s ‘CO2-neutral’ flight exposes problems cutting emissions

  

  Bloomberg British Airways operated what was billed as a “carbon neutral” flight this week between London and Glasgow, as it tries to burnish its green credentials in the lead-in to next month’s COP26 climate summit in Scotland. While it was a lower-emissions flight, the attempt by IAG SA’s flagship airline to apply a zero-carbon label exposes the problems that the ...

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• 19 September

  John Lewis partnership loss narrows in H1of ’21

  Bloomberg John Lewis Partnership Plc’s loss narrowed in the first half as the British retailer’s turnaround efforts started to pay off. The operator of the John Lewis department store and upmarket grocer Waitrose said the $40 million pretax loss came after taking almost 100 million pounds of exceptional costs related to store closures and redundancy payments. This is a significant ...

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• 19 September

  Biden upsets allies like Trump as France recalls ambassadors

  

  Bloomberg President Joe Biden came to office promising to restore competency to US foreign policy after four years of Donald Trump’s diplomatic bomb-throwing. But eight months later, a series of missteps have angered allies, drawn criticism even from supporters and raised concern that Biden isn’t as sure-footed in international affairs as advertised. France even recalled its ambassador, a dramatic escalation ...

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• 19 September

  China conducts naval, aerial military exercises southwest of Taiwan

  

  Bloomberg China announced naval and aerial military exercises were conducted in areas southwest of Taiwan, the second time in a month. Combat ships, early-warning aircraft and bombers were among the forces that joined the exercises “to improve integrated operational capability” in territory southwest of Taiwan, Shi Yi, spokesperson for the People’s Liberation Army’s Eastern Theater Command, said in a statement, ...

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• 19 September

  AUKUS alliance may lead to arms race, says Malaysia

  Bloomberg Malaysia joined Indonesia in expressing concern that a new security pact involving Australia, the US and the UK may spark a nuclear arms race in the Indo-Pacific region. Australia’s Prime Minister Scott Morrison called his Malaysian counterpart Ismail Sabri Yaakob to explain that the formation of the tripartite group — known as AUKUS — was to help it acquire ...

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• 19 September

  China adds $14 billion cash as Evergrande’s pain roils markets

  

  Bloomberg China injected more cash into its banking system in a sign authorities are seeking to avert a funding squeeze amid a seasonal rise in financing demand and the intensifying debt crisis at China Evergrande. The People’s Bank of China (PBOC) added 90 billion yuan ($14 billion) of funds on a net basis through seven-day and 14-day reverse repurchase agreements, ...

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• 19 September

  Mitsubishi mulls sale of US banking unit

  

  Bloomberg Mitsubishi UFJ Financial Group Inc is considering selling its US banking arm, as consolidation heats up in the American financial industry. The Japanese lender is working with an adviser to explore options for MUFG Union Bank NA, said the people, who asked to not be identified because the matter isn’t public. Mitsubishi UFJ has held some informal discussions with ...

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• 19 September

  Goldman Sachs agrees to buy GreenSky for 2.24bn

  Bloomberg Goldman Sachs Group Inc. agreed to buy GreenSky Inc for about $2.24 billion, adding to its Marcus consumer-banking platform a company that offers payment plans to customers with home-improvement projects or health-care needs. The New York-based bank will pay 0.03 share of its common stock for each share of Atlanta-based GreenSky, which works out to about $12.11 a share, ...

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• 19 September

  Banker says India credit market worst she’s seen in two decades

  

  Bloomberg A veteran banker at Kotak Mahindra Bank Ltd said that strains in India’s bond market are at the highest she’s seen in her two-decade career. The flood of cash that the Reserve Bank of India (RBI) has pumped into the market amid the pandemic has headed into shorter notes with top ratings, while there’s little demand for weaker credit ...

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• 19 September

  Royal Bank of Canada shakes up senior ranks

  

  Bloomberg Royal Bank of Canada (RBC) is shaking up its senior ranks, promoting Nadine Ahn to chief financial officer (CFO) and expanding the portfolio of personal and commercial banking head Neil McLaughlin. Ahn currently head of investor relations and finance chief for the capital markets division, will take over as CFO on November 1, the Toronto-based company said in a ...

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