February, 2021

• 15 February

  Economic recovery will lift the consumer prices

  Time to stop trash-talking inflation. Forecasts for a decent pickup in the pace of price increases ought be welcomed, and we’re a long way from the bad old days of the 1970s. While measures of US inflation gained at the end of last year, they are well below levels desired by the Federal Reserve. In China, consumer prices unexpectedly fell ...

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• 15 February

  India needs to ease its farmers’ deeper fears

  In India, tens of thousands of farmers drawn from several northern states have camped outside Delhi since November, demanding the repeal of three new laws meant to liberalise the country’s agriculture sector. Prime Minister Narendra Modi’s government shouldn’t give in, but it ought to address the deeper worries behind the protesters’ complaints. The standoff is growing more tense. Protests turned ...

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• 15 February

  Air Canada ex-CEO optimistic about government aid deal

  

  Bloomberg Air Canada’s former top executive is growing more optimistic about the chances of a government aid package, as a prolonged travel slump forces the Montreal-based airline to further cut capacity. Canada’s biggest carrier said it expects to burn as much as C$17 million ($13.4 million) in net cash per day this quarter and reported fourth-quarter revenue that trailed analysts’ ...

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• 15 February

  Jet2 raises $582m to bridge travel closures

  

  Bloomberg UK leisure airline Jet2 Plc raised 422 million pounds ($582 million) in new equity, adding to its cash reserves with travel virtually shuttered. The new shares, representing about 20% of the carrier’s stock, were sold at 1180 pence each, a 9.1% discount from the closing price, Jet2 said in a statement. “We estimate that Jet2 can now endure a ...

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• 15 February

  Under Armour tops sales estimates amid e-commerce demand in Q4

  

  Bloomberg Under Armour Inc’s sales beat expectations in the fourth quarter as the athletic-apparel maker benefited from e-commerce demand and made progress on its restructuring program, sending the shares higher. Revenue in the period ended on December 31 fell 3% to $1.4 billion, topping the $1.26 billion average of analyst estimates compiled by Bloomberg. E-commerce sales jumped 25%. Under Armour ...

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• 15 February

  Amazon hires founders of Covid-testing firm to curb spread

  

  Bloomberg Amazon.com Inc has hired several employees of a Covid-19 testing startup as part of efforts to curb outbreaks among its workers. Caspr Biotech’s cofounders, Chief Executive Officer Franco Goytia and Chief Strategy Officer Carla Gimenez, joined Amazon in December, according to a person familiar with the situation. The pair, along with several other startup employees, are working on a ...

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• 15 February

  Germany planning $1.1b bailout of major airports

  Bloomberg Germany is planning a 900 million-euro ($1.1 billion) bailout of the country’s airports, adding to a multibillion-euro outlay already aimed at helping the aviation sector survive the coronavirus. The government will offer Berlin-Brandenburg, Cologne-Bonn and Munich a package of loans, grants and stake purchases worth more than 400 million euros, according to a transport ministry document seen by Bloomberg ...

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• 15 February

  Jollibee Foods eyes 450 new stores

  Bloomberg Jollibee Foods Corp will boost capital spending by a fifth to open 450 new stores mostly overseas, as the Philippines’ largest restaurant operator foresees a return to profit this year following its first annual loss in nearly three decades. The company will spend 12.2 billion pesos ($255 million) this year, up 22% from the 10 billion pesos in 2020. ...

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• 15 February

  Myanmar junta tightens control, orders new internet blackout

  

  Bloomberg Myanmar’s junta strengthened its grip on power over the weekend, ordering an internet blackout overnight and making it easier for authorities to make arrests as it looks to quell surging protests against its February 1 coup. Protests continued on Monday after tens of thousands of people continued to demonstrate in defiance of the military even as the regime stepped ...

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• 15 February

  Sudan accuses Ethiopia of escalating tensions over disputed territory

  Bloomberg Sudan accused Ethiopian forces of entering its territory, escalating a dispute over land that straddles their border. “Sudan strongly condemns the aggression carried out by Ethiopia, in which its forces entered into territories that legally belong to Sudan,” the Foreign Ministry said in a statement. It described the incident as “a direct violation” of Sudanese sovereignty. Relations between Sudan ...

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