May, 2021

• 1 May

  HNA assets attract Fosun, JD’s interest

  

  Bloomberg Fosun Group and an arm of JD.com Inc are among suitors considering investing in domestic operations of HNA Group Co. as the indebted Chinese conglomerate is reorganized after being placed under government control, people with knowledge of the matter said. Ping An Insurance Group Co, Juneyao Airlines Co and Air China Ltd have also been studying HNA’s assets, the ...

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• 1 May

  Airlines add flights out of India to bring citizens home

  Bloomberg International and domestic airlines are adding flights out of India to bring home residents and citizens as the nation’s coronavirus outbreak goes from bad to worse. Air India Ltd plans to increase its weekly frequency of flights to the US to 32 starting May 11, up from the current 29. That compares with about 33 weekly flights before Covid. ...

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• 1 May

  Facebook, Gucci file joint lawsuit

  Bloomberg Facebook Inc and Gucci filed their first joint lawsuit against an alleged online counterfeiter as the web giant and luxury brand move to crack down on the fraudulent practice. Facebook and Kering SA’s Italian fashion brand filed the suit against an individual for breach-of-contract, claiming violations of the social media platform’s terms and the infringement of Gucci’s intellectual property ...

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• 1 May

  Political crisis in Somalia raises security risk for eastern Africa

  

  Bloomberg Delayed elections in Somalia amid political infighting has enabled al-Qaeda-linked extremists to make gains in an insurgency, raising the threat of insecurity in eastern Africa. The group, known as al-Shabaab, has taken advantage of the impasse and the withdrawal of US troops from Somalia to recruit fighters, according to people with knowledge of the matter. Authorities have thwarted some ...

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• 1 May

  Pentagon cancels border wall projects under Biden order

  

  Bloomberg The Pentagon said it had cancelled projects related to Donald Trump’s border wall and was returning money the former president directed to the project to defense programs. “The Department of Defense is proceeding with cancelling all border barrier construction projects paid for with funds originally intended for other military missions and functions such as schools for military children, overseas ...

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• 1 May

  Boris Johnson’s popularity faces key test in a Brexit heartland

  

  Bloomberg The town of Hartlepool in northeast England is the kind of place a Conservative prime minister would ordinarily struggle to find support. One of the most deprived areas of the UK, the blue-collar port saw its steel industry collapse in the 1970s and 80s and the unemployment rate remains among the highest in the country. Politically, it’s backed the ...

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• 1 May

  Australians returning from India may face five years in jail, $51,000 in fines

  

  Bloomberg Australia has temporarily banned its citizens from returning from India. The pause on allowing in travellers that were in India within 14 days of arriving will take effect from Monday, Health Minister Greg Hunt said in an emailed statement. Breaches of the ban could lead to a fine of A$66,600 ($51,000), five years imprisonment, or both. As virus cases ...

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• 1 May

  Quake off Japan north coast causes train delays

  Bloomberg A strong earthquake off Japan’s northern coast of Miyagi prefecture on Saturday temporarily disrupted bullet train service and prompted utility companies to conduct checks at nuclear power plants. The magnitude 6.8 temblor hit at 10:27 am local time at a depth of 32 miles, the Japan Meteorological Agency said. While the quake shook buildings as far away as Tokyo, ...

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• 1 May

  China’s biggest banks drop after posting profit gains of below 3%

  

  Bloomberg China’s biggest banks fell after posting profit gains of below 3% in the first quarter with policy makers leaning on the lenders to contain debt growth as the economy powers out of the pandemic. Industrial & Commercial Bank of China Ltd., (ICBC) the world’s biggest bank by assets reported a 1.46% gain in profit in period. Its smaller rivals ...

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• 1 May

  UBS plans to relocate Tokyo rates trading to Sydney in Asia revamp

  

  Bloomberg UBS Group AG will relocate its Tokyo-based rates trading business to Sydney by the end of this year as the Swiss bank reorganises its Asia-Pacific operations. The firm has initiated the process to relinquish its Japan Government Bond primary dealership, though the change won’t impact UBS’s other fixed-income trading businesses conducted with Japanese clients, it said in a statement. ...

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