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  Bloomberg Virgin Galactic Holdings Inc shares plunged after the space tourism company again delayed its commercial service, calling for a launch in the second quarter of 2023. The company had previously disappointed investors by pushing back the launch, once planned for the third, then fourth quarter of 2022. In May, Virgin Galactic delayed it to the first quarter of …

  Bloomberg Beyond Meat Inc slashed its revenue outlook for the full year, saying that shoppers are trading down from its plant-based options to cheaper animal proteins. The shares, which have lost about 50% of their value so far this year, fell 1.1% in New York trading. The maker of plant-based burgers is in a race to increase output and …

  Bloomberg Credit Suisse Group AG executives are discussing reducing thousands of roles globally as the struggling European lender seeks to slash its overall cost base by an additional $1 billion. The bank, which began trimming front line roles in Asia last month, is mulling an aggressive plan to reduce its headcount, which stood at 51,410 at the end of …

Bloomberg India’s top mortgage lender Housing Development Finance Corp. (HDFC) said it has secured the world’s biggest social loan, a $1.1 billion facility to fund affordable residences, underscoring potential for sustainability-linked financing. The loan package has been priced at a margin of 90 basis points over secured overnight financing rate. MUFG Bank Ltd. was the lead social loan coordinator and …

  Bloomberg UK lenders are expected to hike mortgage prices in quick response to the Bank of England’s decision to raise rates by the most since 1995, the latest headwind for the country’s slowing property market. “I expect we will see a raft of increases from lenders pretty speedily, often with little notice, in the coming days,” said Andrew Montlake, …

  Bloomberg DBS Group Holdings Ltd, Singapore’s largest lender that has been investing in India, said buying a stake in government-owned IDBI Bank Ltd. is not on its radar, even though it remained bullish about country’s growth prospects. Chief Executive Officer Piyush Gupta said the lender isn’t looking at a deal for the bank. His comments come after Indian media …

Bloomberg Credit Agricole SA’s corporate and investment bank helped the group soar above expectations in the second quarter after traders made double-digit gains during heightened volatility. The Paris-based bank said revenue at its CIB unit rises by more than a quarter to almost 2 billion euros ($2 billion), making it the busiest quarter on record. Underlying revenue from financing activities …

  Bloomberg Investors have resumed shunning global stocks in favour of bonds, according to Bank of America Corp. (BofA) strategists, who say the time is right to step back from US equities after the strong rally in July. Global equity funds had outflows of $2.6 billion in the week through August 3, according to a note from the bank, after …

Bloomberg Bitcoin rises as global stocks neared a two-month high and in advance of the US payrolls report. The largest cryptocurrency rose as much as 4% to $23,422 on Friday, staying within the range of around $19,000 to $25,000 that’s held it since mid-June. Ether was up as much as 5.4% to $1,678. “The majors continue to trade in a …

  DHAHRAN / WAM Saudi Arabian Oil Company (Aramco) signed a memorandum of understanding (MoU) with China Petroleum and Chemical Corporation (Sinopec) covering multiple areas of potential collaboration between the parties in Saudi Arabia. The MoU outlines pathways for strategic cooperation between Aramco and Sinopec and supports the long-term relationship between the two companies and their existing joint ventures in …