August, 2021

• 29 August

  Ulta raises sales forecast as Q2 results top expectations

  Bloomberg Ulta Beauty Inc raised its sales outlook after second-quarter results topped expectations, reinforcing that cosmetics demand is on the rise amid easing pandemic restrictions. The retail chain now sees sales of as much as $8.3 billion this year, Ulta said, up from a previous forecast of no more than $7.8 billion. The company also said the key gauge of ...

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• 29 August

  Gap raises earnings guidance for 2021

  Bloomberg Gap Inc topped Wall Street’s expectations with its second-quarter results and increased guidance for the full year, highlighting the recovery for apparel retailers from the early-pandemic slowdown. The San Francisco-based company now sees adjusted earnings per share of $2.10 and $2.25, with net sales up about 30% compared with last year, it said. The apparel maker in May had ...

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• 29 August

  US strikes back at group tied to Kabul bombing

  

  Bloomberg US forces carried out a strike in Afghanistan against the terrorist organisation believed responsible for the devastating bombing that killed at least 88 people near the Kabul airport a day earlier. “US military forces conducted an over-the-horizon counterterrorism operation on Saturday against an IS-K planner,” said Captain Bill Urban, a spokesman for US Central Command. He added that the ...

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• 28 August

  Biden criticises China for not aiding report on origin of coronavirus

  

  Bloomberg President Joe Biden rebuked China for stonewalling a US investigation into the origins of the coronavirus, as his administration reported it was unable to reach firm conclusions because of Beijing’s unwillingness to cooperate. China denied that it had hindered the probe. “The world deserves answers, and I will not rest until we get them,” Biden said in a statement ...

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• 28 August

  PBOC signals reserve ratio cut to boost rural finance

  

  Bloomberg China’s central bank signaled it may reduce the reserve requirement ratio for banks to spur rural finance, a targeted move that would help cushion the economy as it slows. The People’s Bank of China (PBOC) said it will use monetary policy tools including the reserve ratio, and relending and rediscounting measures for rural development, according to a statement. That ...

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• 28 August

  Top Indonesia bank bolsters digital arm to fend off tech giants

  

  Bloomberg PT Bank Central Asia (BCA) will invest $200 million into its digital arm to fend off competition from tech giants Gojek and Sea Ltd that are expanding into one of world’s largest unbanked markets. The Southeast Asian nation’s biggest lender by market value will use the funds to help Blu, its one-month old digital unit, to increase market share ...

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• 28 August

  BOJ sees Delta variant delaying recovery more than expected

  

  Bloomberg Japan’s economic recovery will be delayed more than previously expected as the delta variant pushes up infections to record levels, according to a Bank of Japan (BOJ) board member. “The current spread of infections is more than expected at the time of the July policy meeting,” Toyoaki Nakamura, one of nine members on the board, told reporters in Tokyo. ...

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• 28 August

  Bank of Korea hikes rates

  

  Bloomberg South Korea became the first major Asian economy to raise interest rates, with more hikes in the pipeline as its central bank indicated that financial risks pose a bigger threat to the economy than the latest virus outbreak. Governor Lee Ju-yeol said the quarter-percentage-point hike to 0.75% still left rates in an accommodative position that supports the economy. He ...

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• 28 August

  Barclays buys $3.8b Gap credit card portfolio

  Bloomberg Barclays Plc acquired a $3.8 billion portfolio of credit cards from retailer Gap Inc., giving it a new route to American consumers. The British bank will issue co-branded and private label credit cards in the US to Gap customers from the second quarter next year, Barclays said in a statement. While Chief Executive Officer Jes Staley has made the ...

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• 28 August

  BlackRock faces key test in $15trn China asset market

  

  Bloomberg BlackRock Inc is gearing up for the first test of Chinese investor appetite for its own mutual fund products, more than 15 years after entering the world’s most promising wealth market. The company’s new China unit is launching its debut product on August 30, just two months after winning regulatory approval to become the nation’s first wholly foreign-owned mutual ...

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