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Bloomberg Bank of England (BOE) policy makers are being overly-alarmist on their outlook for inflation, economists’ forecasts suggest, casting doubt on the need for a significant tightening in policy in the years ahead. While the central bank expects inflation to hit 4% this year and slightly exceed that level in early 2022, economists surveyed by Bloomberg only see it rising …

Bloomberg HSBC Holdings Plc agreed to buy AXA Singapore for $575 million in a push to build a global wealth hub in Singapore and fuel its expansion across Southeast Asia amid rising tension in China. The acquisition will give HSBC the eighth largest life insurer in Singapore, as well as a leading group health insurance firm, with assets of $474 …

Bloomberg Slowing economic recovery amid a resurgent pandemic is leaving emerging-market currencies vulnerable to a selloff if Treasury yields rise again. While the influence of US borrowing costs on developing-nation currencies has waned in recent months, it may return to prominence for riskier assets as the cushioning effects from China’s growth rebound and low inflation weaken, according to money managers …

Bloomberg The recent slump in video streaming giant Kuaishou Technology’s shares has awoken investors to the risk of expiring lockups for Hong Kong’s newly-listed stocks. More than $6 billion worth of cornerstone investment lockups are due to expire within the next five months for this year’s IPOs, according to Bloomberg calculation based on stock exchange filings. The companies that face …

Bloomberg Skyrocketing carbon prices and a “code red” warning about the threat posed by climate change are giving fresh momentum to a technology that captures and removes greenhouse gas emissions so they can be buried. The market for these tools could reach $2 trillion if used to cut pollution from heavy industry, according to Credit Suisse Group AG. With carbon …

Bloomberg Petroleos Mexicanos fought tooth and nail to wrest control of the country’s biggest private oil find from the companies that discovered it. Now it has found itself without the cash to actually develop the field. After taking operational control of the Zama megafield last month, the Mexican state-owned oil producer doesn’t have the nearly $2 billion needed to develop …

Bloomberg Three major unions have quit the board of the nation’s oldest consumer advocacy organisation, claiming funding from Amazon.com Inc has compromised the group’s progressive mission. In separate letters last month, the presidents of the United Food & Commercial Workers, the Communications Workers of America and the United Auto Workers wrote that their groups were resigning immediately from their roles …

Bloomberg The UK government lowered the cost of Covid tests provided by the National Health Service for international travel following criticism from the competition watchdog and the tourism industry. The cost of tests will be reduced to 68 pounds ($94.30) from 88 pounds for one test and to 136 pounds from 170 pounds for two, the UK’s Department for Health …

Bloomberg TUI AG stopped burning cash as holiday bookings surged following European government moves to relax travel restrictions. The world’s biggest tour operator reported cash inflows during the three months through June of 320 million euros ($376 million), excluding financing costs, the first time it’s recorded a positive number since the onset of the Covid-19 pandemic. That’s after revenue surged …

Bloomberg It’s been two decades since Wall Street analysts were this upbeat. About 56% of all recommendations on S&P 500 firms are listed as buys, the most since 2002. It’s one more data point that shows the extent of the euphoria sweeping markets after a blockbuster earnings season. While analysts are historically a bullish bunch, they’re turning even more optimistic …