March, 2021

• 7 March

  Deliveroo’s London IPO is about making friends

  It would have been a blow to London if the UK’s most prominent unicorn decided to list its shares in tech-friendly New York or Amsterdam. Instead, Deliveroo has picked its home stock exchange for an initial public offering. Valued at more than $7 billion in its most recent private funding round, the food delivery app is issuing a vote of ...

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• 7 March

  A better way to support states during downturns

  In previous US recessions, a familiar fiscal pattern has almost always played out. Deprived of revenue, the state and local governments closest to the American people lay off employees and cut essential services. If and when Congress comes to the rescue, it’s often too late. The economic damage has been done. In some ways, the coronavirus crisis has disrupted this ...

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• 7 March

  US, EU to halt tariffs linked to Boeing-Airbus dispute

  

  Bloomberg The European Union (EU) and the US agreed to suspend tariffs on billions of dollars of each other’s products, easing a 17-year transatlantic dispute over illegal aid to the world’s biggest aircraft makers. President Joe Biden and European Commission President Ursula von der Leyen agreed to the move on a call, the commission said in a statement. “This suspension ...

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• 7 March

  AirAsia targets launch of flying-taxi business

  

  Bloomberg Malaysian budget airline AirAsia Group Bhd. said it is seeking to launch a flying-taxi business as soon as next year. “We are working on that right now,” Tony Fernandes, the company’s chief executive officer and co-founder, said. “I think we are about a year and a half away from launching.” Fernandes was speaking in an online discussion as part ...

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• 7 March

  Airline insiders sell $49.9mn worth of shares in three years

  

  Bloomberg Airline executives and directors sold $49.9 million of stock in February, the most in three years, as industry shares posted a record rally fuelled by a widening vaccination effort. The top individual sellers were at Allegiant Travel Co. and Southwest Airlines Co., two leisure-focused carriers that are among analyst picks to benefit from a rebound in vacation travel as ...

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• 7 March

  United, British Air sound alarm on alliance data breach

  

  Bloomberg British Airways, United Airlines Holdings Inc. and Singapore Airlines Ltd. were among carriers affected by a cyberattack that hit the Star and Oneworld alliances, exposing some loyalty-program member information. Sita Passenger Service System Inc.’s processing services were hit by a “highly sophisticated but limited” breach that targeted personal data stored on servers at its data center in Atlanta, the ...

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• 7 March

  Boeing CEO makes $21m on paper, pockets just $269,321

  Bloomberg Boeing Co. Chief Executive Officer Dave Calhoun got total compensation of $21 million last year, but his take-home pay was a small fraction of that as the planemaker slogged through a deep crisis caused by the coronavirus pandemic. When Covid-19 sent the aviation industry into the sharpest decline on record last March, Calhoun waived his salary for the rest ...

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• 7 March

  Fix Price raises $1.7b in Russia’s largest IPO

  Bloomberg Fix Price’s initial public offering in London and Moscow raised $1.7 billion, on track to be the biggest listing from a Russian company in more than a decade, possibly prompting more share sales from local issuers. Russia’s largest dollar-store chain priced 178 million global depositary receipts, representing one ordinary share each, at the top end of an initial $8.75 ...

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• 7 March

  Imran Khan wins Pakistan parliament vote to stay PM

  

  Bloomberg Pakistan Prime Minister Imran Khan won a confidence vote in Parliament, ending a week of political turmoil and giving a boost to his fragile government. Khan got 178 votes from members of his Tehreek-e-Insaf party and allies in the 342-seat lower house National Assembly, proving the majority, Speaker Asad Qaiser said in televised meeting in Islamabad. The army-backed former ...

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• 7 March

  Senegal protests leave at least four dead after opposition leader arrest

  

  Bloomberg Four people died in clashes between Senegalese police and protesters during what the interior minister described as an “organised insurrection” following the arrest of the country’s main opposition leader. “We regret and condemn these terrorist acts, looting, pillaging and damage to public buildings,” Interior Minister Antoine Felix Diome said in a televised address. Diome confirmed that four people had ...

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