August, 2021

• 9 August

  Lufthansa sees long-haul recovery after $1.13b loss

  

  Bloomberg Deutsche Lufthansa AG is expecting long-haul travel to finally pick up this year alongside loosening Covid-19 restrictions and vaccine take up, giving some cause for optimism after a second-quarter loss of 952 million euros ($1.13 billion). North America could open up from late summer with Asia following from the end of the year, the company said in a statement. ...

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• 9 August

  PepsiCo to sell juice brands to PAI Partners for $3.3 billion

  Bloomberg PepsiCo Inc is to sell Tropicana, Naked and other juice brands to French private equity firm PAI Partners for about $3.3 billion as it seeks to bolster its balance sheet and focus on healthier snacks and zero-calorie drinks. The US drinks giant will retain a 39% noncontrolling interest in a new holding company for the brands and has also ...

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• 9 August

  Odey sells stakes in Ryanair, BA

  

  Bloomberg Odey Asset Management has sold its stakes in Ryanair Holdings Plc and British Airways’s (BA) owner International Consolidated Airlines Group, the Daily Mail reported, as the UK airline industry prepares for further job cuts. Fund manager James Hanbury sold his IAG holding after shares rebounded, the paper said. IAG rose 8.5% this year while Ryanair added 3.4%, both outperforming ...

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• 9 August

  Amazon, Flipkart leading India EV transition face hurdles

  

  Bloomberg Sourabh Saini, a delivery driver for Indian online supermarket BigBasket, is thrilled by the attention he gets as he zips around Noida, a satellite city on the outskirts of Delhi, in his three-wheeled electric van. “I like how my electric van always gets noticed,” said Saini, who made the switch from fossil fuels about eight months ago as part ...

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• 9 August

  Twelve days in office and crisis swamps Peru’s leftist president

  

  Bloomberg Peru’s new president is off to a rocky start, selecting contentious ministers, alienating allies and setting the stage for a brutal face-off with congress, all within days of taking office. A rural teacher and union activist, Pedro Castillo won the election after reassurances that he’s his own man, not beholden to his party’s Marxist ideology or chief. But when ...

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• 9 August

  New York Gov’s top aide resigns amid harassment claims

  

  Bloomberg Melissa DeRosa, the highest-ranking aide to Andrew Cuomo, resigned as the embattled New York governor contends with possible criminal charges over numerous harassment claims and a potential impeachment trial. DeRosa, who had remained one of Cuomo’s chief defenders throughout multiple scandals, said she would step down from her post as secretary to the governor after what she called a ...

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• 9 August

  Troops eject rebels who besieged Total’s Mozambique LNG project

  

  Bloomberg Troops from Mozambique and Rwanda retook a port town at the heart of a four-year insurgency that led to the suspension of a $20 billion project by TotalEnergies SE. Soldiers from the two countries retook Mocimboa da Praia, which insurgents with ties to IS have held for a year, the Rwanda Defence Force said in Twitter post. The Mozambican ...

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• 9 August

  China punishes officials as Delta outbreaks spread

  

  Bloomberg China has punished a slew of officials for failing to curb a Covid-19 outbreak that’s spawned nearly 900 symptomatic infections across the country in less than a month, a resurgence that complicates Beijing’s strategy of keeping the virus out entirely. The eastern Chinese city of Yangzhou issued warnings to five officials for mishandling mass testing that they said allowed ...

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• 9 August

  Australian PM’s popularity slumps amid lockdowns

  Bloomberg Australians’ approval of Prime Minister Scott Morrison has fallen to the lowest level since the pandemic began, with voters wearying of virus-induced lockdowns amid his government’s tardy vaccine rollout. Support for Morrison’s handling of the crisis has fallen from 85% in April last year —when his conservative government imposed strict border controls that helped keep virus fatalities to less ...

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• 9 August

  BOE’s hawkish turn reignites pound’s pre-Covid strength

  

  Bloomberg The pound is about to enter a new era of strength against the euro, thanks to the Bank of England’s (BOE) hawkish turn. Traders have raised the odds of a rate hike in February to 60% after the BOE made clear last week that it’s beginning a countdown to end the era of rock-bottom borrowing costs. And it’s given ...

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