June, 2021

• 6 June

  Singapore Airlines says reserves sufficient for well into 2023

  

  Bloomberg Singapore Airlines Ltd said the S$6.2 billion ($4.7 billion) raised through convertible bonds, along with existing cash reserves, should cover its financial needs well into the year ending March 2023, according to a statement. The nation’s flagship carrier was responding to questions from the Securities Investors Association (Singapore) last month about whether it has considered privatisation. Singapore Airlines said ...

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• 6 June

  Fashion retailer About You seeks $732m in German IPO

  Bloomberg E-commerce fashion retailer About You is seeking at least 600 million euros ($732 million) in a Frankfurt listing, betting demand for its party outfits will pick up as lockdowns ease across Europe. The company is looking to list shares on the Frankfurt Stock Exchange in the second quarter, it said in a statement. The initial public offering will include ...

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• 6 June

  Instacart bets on robots to shrink ranks of gig shoppers

  

  Bloomberg Instacart Inc has an audacious plan to replace its army of gig shoppers with robots—part of a long-term strategy to cut costs and put its relationship with supermarket chains on a sustainable footing. The plan, detailed in documents reviewed by Bloomberg, involves building automated fulfillment centres around the US, where hundreds of robots would fetch boxes of cereal and ...

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• 6 June

  Nestle eyes health strategy update

  Bloomberg Nestle SA is working to update its nutrition and health strategy as the world’s largest food company faces criticism over unhealthy products. Nestle is assessing its food and beverage portfolio against external nutrition profiling systems, such as Health Star Rating and Nutri-Score, that help consumers make more informed choices, the maker of KitKat chocolate said in an emailed statement. ...

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• 6 June

  US may regret using dollar as sanctions weapon: Putin

  

  Bloomberg President Vladimir Putin said Russia doesn’t want to stop using the dollar as he accused the US of exploiting the currency’s dominance for sanctions and warned the policy may rebound on Washington. Russia has to adopt other payment methods because the US “uses its national currency for various kinds of sanctions,” Putin said in St Petersburg at a videoconference ...

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• 6 June

  Burkina Faso says 100 civilians killed in deadliest attack in years

  

  Bloomberg Suspected extremists killed at least 100 people and injured dozens more in an attack on a village in northern Burkina Faso, the government said. The attackers opened fire into a populated area of Solhan, President Roch Marc Christian Kabore said in a tweet. Several homes and the village’s market were burnt down, a government spokesman said in a separate ...

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• 6 June

  North Korea’s Kim makes his first public appearance in about a month

  

  Bloomberg North Korean leader Kim Jong-un made his first public appearance in about a month, with state media showing him at a Party meeting that discussed ways to improve the country’s deteriorating economy. Kim, wearing his signature black Mao suit, said it was time to take “additional state measures for solving pending problems urgent for the economic work and people’s ...

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• 6 June

  India central bank expands QE as growth seen faltering

  

  Bloomberg India’s central bank expanded its version of quantitative easing (QE) and lowered its economic growth forecast as the world’s worst Covid-19 wave sweeps through the nation. The Reserve Bank of India (RBI) will buy an additional 1.2 trillion rupees ($16.4 billion) of bonds next quarter under the so-called Government Securities Acquisition Program 2.0, Governor Shaktikanta Das said. The program ...

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• 6 June

  BofA, Goldman boost Brazil growth bets after solid Q1

  

  Bloomberg Analysts from Goldman Sachs Group Inc and Bank of America Corp (BofA) see Brazil’s economy growing faster this year after a better-than-expected first quarter that was driven by investment and booming agriculture. Goldman increased its growth forecast for Latin America’s largest economy to 5.5% from 4.6%, while BofA raised its projections to 5.2% from 3.4%. “Concerns about the slowdown ...

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• 6 June

  UBS, Credit Suisse need to raise liquidity: Switzerland

  

  Bloomberg The Swiss government said that existing liquidity requirements for the country’s systemically important banks, including UBS Group AG and Credit Suisse Group AG, are not enough. An analysis of the country’s most important banks revealed that the liquidity requirements currently imposed would probably not be enough to cover liquidity needs in an emergency or in a default event, the ...

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