October, 2021

• 10 October

  Hungary ups ante in Budapest Airport tussle with higher bid

  

  Bloomberg The owners of Budapest Airport are considering entering into formal negotiations to sell the hub to the Hungarian state after receiving a revised offer, according to people familiar with the matter. A government-led consortium put forward a new proposal to purchase a majority stake in the airport, the person said. The offer, received at the end of September, is ...

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• 10 October

  UK drops probe into British Airways, Ryanair Covid refunds

  

  Bloomberg The UK ended a probe into British Airways (BA) and Ryanair Holdings Plc over their refusal to reimburse customers who were barred from flying because of ever-changing pandemic travel rules. The Competition and Markets Authority (CMA) decided to close the investigation because the law isn’t clear enough about a right to a refund “in these unusual circumstances,” according to ...

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• 10 October

  Activist Jana calls for Macy’s to spin off e-commerce unit

  Bloomberg Activist investor Jana Partners believes Macy’s Inc could boost its valuation by spinning off its e-commerce business. Jana said in an investor presentation that the retail chain could follow the lead of Saks Fifth Avenue, whose owner spun out its e-commerce business. At a similar valuation, Macy’s online business could be worth about $14 billion, Jana said. Macy’s as ...

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• 10 October

  Virgin Atlantic starts chairman search

  Bloomberg Virgin Atlantic Airways Ltd is searching for a candidate to take over as chairman in the event plans for an initial public offering go ahead, a person with knowledge of the situation said. A London listing would compel current Chairman Peter Norris to stand down since he occupies the same post at Virgin Group, owned by the carrier’s founder ...

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• 10 October

  Chinese president renews appeal to Taiwan amid pressure campaign

  

  Bloomberg Chinese President Xi Jinping said unification with Taiwan “will and must be achieved,” renewing his pledge just days after sending a record number of warplanes near the island as part of a years-long pressure campaign. Xi made the remarks as part of a televised speech marking the 1911 uprising that toppled the last Qing emperor and led to the ...

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• 10 October

  Ethiopia’s Tigray fighters under fire in major new offensive

  

  Bloomberg Ethiopia has launched a major offensive against rebel forces from the Tigray region, carrying out air strikes in its latest bid to gain the upper hand in an almost yearlong civil war. The move from the government of Prime Minister Abiy Ahmed comes days after he was inaugurated for a new five-year term as leader of Africa’s second-most populous ...

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• 10 October

  European banks falter in push to avert tougher capital rules

  

  Bloomberg European banks are falling short in their lobbying effort against oncoming stricter capital rules which would limit their ability to boost shareholder returns, according to people familiar with the matter. Lenders expect the European Commission to disregard their plea to retain significant freedom to assess the riskiness of their own loans, as the region implements the global bank standards ...

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• 10 October

  Barclays mulls shaking its macro trading desks

  

  Bloomberg Barclays Plc is considering shaking up parts of its global markets unit that are underperforming as the lender prepares for volatility drying up after the pandemic. Global markets head CS Venkatakrishnan, known to colleagues as Venkat, told employees recently that while equities and credit trading had held up well lately, parts of its macro trading unit including European interest ...

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• 10 October

  RBA says risks remain for excessive borrowing

  

  Bloomberg The Reserve Bank of Australia (RBA) said it is important that lending standards are maintained as the risk remains from excessive borrowing in the country’s housing market. “In Australia, and some other countries, there have been large increases in housing prices and an acceleration in borrowing,” the central bank said in its semi-annual Financial Stability Review. “Vulnerabilities can increase ...

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• 10 October

  Inflation to fall below 2% by end-2022: ECB’s Villeroy

  Bloomberg Bank of France Governor Francois Villeroy de Galhau said he expects inflation in the euro area to peak in coming months and for price increases to fall below 2% by the end of 2022. Villeory, who is also a member of the European Central Bank’s governing council, said the jump in inflation was a temporary bump linked to the ...

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