May, 2021

• 11 May

  Air Canada pleads for plan to ease Covid-travel rules

  

  Bloomberg Flush with bailout funds, Air Canada called on the government of its home country to lay out a plan for reopening borders as vaccination progresses. Canada’s biggest air carrier is in a position to ramp up operations after reaching a deal for nearly C$5.9 billion ($4.8 billion) in debt and equity with the federal government last month. Chief Executive ...

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• 11 May

  Airbus: China is muscling in on rivalry with Boeing

  

  Bloomberg Airbus SE expects China to become a legitimate rival in global planemaking by the end of the decade, upending the long-standing duopoly between the European company and US rival Boeing Co. China has long been a big customer for both manufacturers, accounting for a fifth of Airbus deliveries last year. The country is finally close to success in its ...

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• 11 May

  JCPenney CEO touts $1.2b cash, credit buffer after bankruptcy

  

  Bloomberg JCPenney landed in bankruptcy court after foundering during the pandemic, but the reorganised retailer now sports a relatively big liquidity cushion and its sales are growing. The company has more than $1.2 billion of cash and credit availability, interim CEO Stanley Shashoua said. And the 119-year-old company, whose financials are no longer public, has improved sales since it left ...

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• 11 May

  UK reopens travel to 12 nations as tourist hotspots miss out

  

  Bloomberg Britain will permit relatively open leisure travel to just 12 nations and territories including Portugal as it seeks to restart tourism while keeping control over the coronavirus pandemic. A legal ban on international leisure trips will be eased from May 17, the Department for Transport confirmed. Return journeys from approved countries will require Covid-19 tests but no period of ...

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• 11 May

  Monde Nissin attracts GIC, AIA, Fidelity to $1b IPO

  Bloomberg Philippine food maker Monde Nissin Corp is in talks with Singapore state investment fund GIC Pte and Hong Kong insurer AIA Group Ltd to become cornerstone investors in what could be the country’s biggest-ever initial public offering, according to people familiar with the matter. Fidelity International and Capital Group Cos are also in discussions to buy stock in the ...

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• 11 May

  Office Depot aims to split over Staples deal

  Bloomberg The parent of the Office Depot retail chain plans to split into two publicly traded companies, reshaping the company as rival Staples pursues an acquisition. ODP Corp said it would retain its retail consumer and small-business products and services, while separating its Business Solutions Division contract unit and independent regional office-supply distribution operations. The transaction, expected to be completed ...

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• 11 May

  Biden to meet GOP leaders at pivotal dealmaking point

  

  Bloomberg President Joe Biden is preparing for his first face-to-face meeting with the top two congressional Republicans, Mitch McConnell and Kevin McCarthy, just as the GOP is ramping up opposition to his $4 trillion economic plan, a rallying point for the party amid infighting over allegiance to former President Donald Trump. After McConnell declared that he’s “100%” focused on blocking ...

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• 11 May

  China row: Philippines plans to convert Thitu island into military hub

  

  Bloomberg The Philippines plans to convert a South China Sea island into a military hub amid rising tensions with China. The Philippine military will ask President Rodrigo Duterte to fund a logistics hub on Thitu Island, its chief General Cirilito Sobejana said, as the nation seeks to sustain patrols in the South China Sea. It’s also planning to place high-resolution, ...

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• 11 May

  Britain to overhaul state aid, government procurement

  Bloomberg Boris Johnson’s administration plans to push through new government procurement rules by the end of the year, replacing what it sees as excessively “complex” procedures it was tied to in the European Union. Bills on procurement and state aid will be included in the Queen’s Speech on Tuesday in Parliament, people familiar with the matter said. The annual event ...

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• 11 May

  Moon sets ‘peace goal’ on Korean peninsula

  

  Bloomberg South Korean President Moon Jae-in plans to use his final year in office to reach an “irreversible peace” on the Korean Peninsula, and will seek help in salvaging one of his policy priorities at a summit next week with President Joe Biden. Moon said in a speech marking the start of the final year of his single, five-year term ...

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