July, 2021

• 27 July

  American Airlines, Southwest warn of jet fuel delivery delay

  

  Bloomberg American Airlines Group Inc and Southwest Airlines Co are carrying extra jet fuel on some flights and considering adding stops to other routes to pick up fuel as snarls in US trucking and supply chains delay deliveries to small and mid-sized airports across the country. The delays are expected to continue through mid-August, American told its pilots in a ...

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• 27 July

  LVMH sales soar with leather bags

  Bloomberg Sales of Louis Vuitton handbags and the easing of lockdowns across the world helped revenue soar at luxury fashion house LVMH. In a stellar quarter for the owner of some of the world’s best-known brands, like-for-like sales rose 84% in the three months through June, ahead of analyst expectations. Much of the gain was fuelled by “remarkable” demand for ...

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• 27 July

  Airports in Europe ask for extra year of looser bond terms

  

  Bloomberg Major airports in Europe are asking investors for a break from debt obligations for the second time since the height of the coronavirus pandemic. London Heathrow Airport, the UK’s busiest hub, said it secured support for a new round of waivers on covenants applying to $1.6 billion of bonds after some of the terms agreed last year expired. Holders ...

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• 27 July

  Two Koreas agree to rebuild ties in possible opening for Joe Biden

  

  Bloomberg North Korea’s Kim Jong Un and South Korea’s Moon Jae-in agreed in letters to restore relations, improving the prospects for a breakthrough in an extended stalemate in nuclear talks. The two countries released what appeared to be coordinated statements on Tuesday calling for reconciliation on the peninsula, with state media in Pyongyang saying they agreed “to make a big ...

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• 27 July

  White House asks $1b to relocate Afghans who helped US

  

  Bloomberg The Biden administration has asked Congress for $1 billion to bring Afghans who helped American forces during the two-decade war in their country to the US, and there is bipartisan support to provide the money, according to people familiar with the matter. The money would be included in an emergency measure chiefly intended to provide heightened security on Capitol ...

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• 27 July

  UK to move ahead on nuclear project sans China support

  

  Bloomberg The UK government is planning to press ahead with its flagship Sizewell C nuclear project even without Chinese funding, according to a person familiar with the situation. The proposed 20 billion-pound ($27.5 billion) plant in eastern England is still viable, despite the government exploring ways to remove state-owned China General Nuclear Power Corp from all future projects in the ...

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• 27 July

  Credit Suisse pushes deeper into China with IPO underwriting

  

  Bloomberg Credit Suisse Group AG is pushing deeper into China with plans to extend underwriting of initial public offerings (IPOs) even as markets are roiled by Beijing’s crackdown on the booming financial technology and private education industries. The Swiss lender plans to sponsor initial public offerings (IPOs) on the Nasdaq-like Star Market Board in Shanghai, Tim Tu, head of the ...

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• 27 July

  TD makes its debut deal in growing loonie hybrid debt market

  

  Bloomberg Toronto-Dominion Bank (TD) raised C$1.75 billion ($1.39 billion) in its inaugural sale of limited recourse capital notes (LRCNs), taking advantage of the fast growing market for the Canadian dollar-denominated hybrid securities first sold one year ago. Toronto-Dominion, Canada’s largest bank by assets, priced the transaction at the tight end of guidance after drawing orders covering the offering by more ...

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• 27 July

  Hungary primes for second rate hike to curb EU inflation

  

  Bloomberg Hungary is set to deliver a second interest-rate increase in as many months to combat the European Union’s fastest inflation, though economists disagree on the size of the move. The eastern European country and the nearby Czech Republic both tightened monetary policy in June as a rally in global commodities and the easing of lockdowns pushed consumer prices sharply ...

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• 27 July

  Bank of Korea still on track to hike rates after growth cools

  

  Bloomberg South Korea’s central bank remains confident of the country’s robust recovery from the pandemic slump and looks largely on track to raise interest rates this year after economic growth cooled more than expected last quarter. Asia’s fourth-largest economy grew 0.7% during the three months to June from the previous quarter, the Bank of Korea said on Tuesday, below economists’ ...

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