June, 2021

• 6 June

  Germany weighs taking part in Lufthansa capital increase

  

  Bloomberg Germany is leaning towards participating in Deutsche Lufthansa AG’s pending capital increase, according to people familiar with the matter, a move that would boost the airline’s plan to refinance its 9 billion-euro ($11 billion) bailout package. By subscribing to the rights offering, the government would limit dilution of its 20% shareholding, while increasing its chances of success, said the ...

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• 6 June

  Indian airlines will lose $8b due to Covid, says CAPA

  

  Bloomberg Indian carriers are expected to incur a loss of $8 billion by 2022 as the second Covid-19 wave puts any travel recovery on hold. IndiGo, India’s largest airline, and Air India Ltd will account for $4.5 billion of losses, CAPA Centre for Aviation said in its report India Airline Outlook for the fiscal year 2022. Indian carriers will need ...

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• 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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