Tag Archives: Cyclical Consumer Services (TRBC level 2)

US STOCKS-Wall Street slips as virus spike hits travel stocks | Instant News



By Herbert Lash, Medha Singh * Kansas City Southern jumps on offer from Canadian National * Nike drops as Citi downgrades stock rating * CBOE volatility index hits three-week high (adds afternoon prices) April 20 (Reuters) – Major Wall Street indices fell for a Last week a global spike in coronavirus cases hit travel documents and investors have hesitated over earnings apparently stellar major U.S. banks last week. Kansas City Southern jumped 16.1% in prospect of a bidding war after Canadian National offered about $ 30 for the U.S. railroad, or $ 5 billion. dollars more than a previous offer from Canadian Pacific, Boeing Co slipped 4.6% following the unexpected departure of its chief financial officer, the latest shock to hit the aircraft manufacturer as it struggles to recover pandemic and the 737 MAX Les inve Stisseurs have crammed into defensive sectors considered relatively safe in times of economic uncertainty: real estate, utilities, consumer staples and healthcare. Iseliners such as JetBlue Airways, American Airlines, Norwegian Cruise Line and Carnival Corp, which were hammered last year as widespread lockdowns resulted in global travel halting, have fallen between 5% and 9%. as the reopening might take a little longer than initially thought, said Michael James, managing director of equity operations at Wedbush Securities in Los Angeles. economies are reopening, ”he said. “Some of that enthusiasm has waned.” Wall Street hit record highs last week as investors bet on stocks such as industrials and miners that are seen to benefit from the economic rebound, while highly valued tech stocks regained favor after declining yields bond. The Dow Jones Industrial Average fell 1.08%, the S&P 500 lost 0.97%, and the Nasdaq Composite fell 1.31%. The CBOE volatility index, known as the fear gauge of Wall Street, topped 19 points for the first time since March 31. Co, Bank of America Corp, Citigroup Inc and Wells Fargo & Co drove finances down as analysts reassessed their first quarter earnings reports, said Dick Bove, senior research analyst at Odeon Capital Group. compared to a year ago, he said. “People speculated it was a gangbuster neighborhood for the banking industry when it is far from the truth,” Bove said, adding that second half profits were expected. o be very strong. United Airlines Holdings Inc fell 9.6%, the S&P 500’s biggest decline, after reporting a larger-than-expected adjusted net loss. Its shares led to a 5.2% drop in the S&P 1500 airlines index. Shares of video streaming service provider Netflix Inc, which flourished during last year’s lockdowns, fell about 0.5% ahead of its results due after the closing bell. International Business Machines Corp. rose 3.8% after recording the largest increase in quarterly sales in more than two years. ratio-for-1; on the Nasdaq, a ratio of 3.84 to 1 favored the declines. The S&P 500 posted 59 new 52-week highs and no new lows; the Nasdaq Composite recorded 43 new highs and 106 new lows. (Reporting by Shivani Kumaresan and Medha Singh in Bengaluru; Editing by Sriraj Kalluvila, Anil D’Silva and Arun Koyyur and Richard Chang).



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Freed Zaghari-Ratcliffe lawyer says no information about his Iran travel ban – TV | Instant News



DUBAI, March 7 (Reuters) – Lawyer for Nazanin Zaghari-Ratcliffe, a British Iranian released aid worker, told Iranian state television he had no information on the status of his imposed travel ban by Iranian justice. about the travel ban, ”Hojjat Kermani said on state television. Zaghari-Ratcliffe was released on Sunday after a five-year prison sentence, but was again called to court on another count. (Writing by Parisa Hafezi edited by Raissa Kasolowsky).



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EasyJet sees flight and holiday bookings soar with hopes of UK travel restart | Instant News



LONDON, Feb.23 (Reuters) – EasyJet said flight bookings jumped more than 300% and holiday bookings jumped more than 600% week on week, after Britain planned the restart international travel, suggesting that the borders could reopen from mid-May. The British airline said travel from the UK to seaside destinations such as Malaga, Alicante and Palma in Spain, Faro in Portugal and Crete, Greece were the most popular destinations with the most eager holidaymakers. to travel in August. Reservations have come about despite continued uncertainty over how and when to reopen international routes. Vacationers will know more on April 12, when the government publishes a travel review. He said a lockdown ban on most international travel will remain until at least May 17. Britain’s vaccination plan is progressing rapidly and more than 17.7 million people, or a quarter of the population, have already received a first dose of the vaccine. hopes desperate airlines and travel agents to start generating revenue after pandemic restrictions that the UK can lift holiday bans and quarantine restrictions and allow travel from mid-May Governments foreigners must also agree that UK holidaymakers can visit without the need for quarantine. Currently, France and Spain, for example, have closed their borders to the British due to new variants of the coronavirus. (Report by Sarah Young, edited by Paul Sandle).



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Britain must include travel in lockdown easing roadmap – Airlines | Instant News



LONDON (Reuters) – British Prime Minister Boris Johnson is due to show how travel will restart when he lays out his broader roadmap to ease COVID-19 restrictions on February 22, UK airline bosses have said. last year and Britain’s biggest airlines easyJet and British Airways fear their industry will again be overlooked by the government. “We need a clear statement on the path to international travel in the Prime Minister’s announcement,” easyJet Managing Director Johan Lundgren told media. The government has suggested that all other sectors that include hospitality, retail and leisure, whether it is a roadmap for these sectors on February 22, and international travel should also be included.” The UK, the industry body, has called for a gradual reopening of UK borders, with increasing levels of vaccinations and lower infection and hospitalization rates paving the way for restrictio He warned that it would take a “tailor-made support package” from the government if there is no roadmap to recovery for this summer. After almost a year with minimal incomes, all Airlines, including Jet2, TUI and Virgin Atlantic, are counting on a bumper summer recovery in three to four months to ease the strain on their strained finances. Britons need certainty that restrictions will be lifted so they can book vacations , the companies said. coronavirus variants, including 10-day quarantine requirements, spent in a hotel for some countries, and three COVID-19 tests linked to international flights. Many vacation destinations, like Spain and France, prevent UK passengers are also currently entering due to The government has sent mixed messages in recent weeks on what people can expect this summer. A minister said people should not book vacations in Britain. or overseas, while Health Minister Matt Hancock has said people should wait and the government is doing “whatever it can.” The UK airline and travel sector has benefited from leave programs for workers and large companies have contracted no specific sector package from the government. In contrast, Air France-KLM last year received 10.4 billion euros in loans and guarantees from France and the Netherlands, while Germany bailed out Lufthansa and TUI. edited by David Evans.



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UPDATE 2-Travel Food Company SSP Evaluates More Financing Options | Instant News



* SSP plans £ 500million cash call – FT * Co says it continues to assess merits of fundraising * SSP says its liquidity position is strong continued to assess merits of fundraising fundraiser, but refrained from confirming a Financial Times report that he was forecasting a £ 500million ($ 692million) fundraiser within weeks. further lockdowns in the UK and mainland Europe resulting in heavy financial losses. “There remains significant uncertainty regarding COVID-19 and associated travel restrictions,” SSP Group said. “The group continues to assess the merits of a range of financing options, both debt and equity.” The company said its liquidity position was strong, with undrawn cash and available facilities of around £ 520million as of September 30. report that the company plans to raise up to £ 500million from shareholders is confirmed, this would mark SSP’s second fundraising appeal since the outbreak of the pandemic. It raised nearly £ 216million through an emergency stock issue in March last year, with SSP in December saying it expected first quarter sales to fall by 80% due to the rise in coronavirus cases in Europe. 12 months $ 1 = 0.7225 pounds Reporting by Samantha Machado in Bengaluru; Edited by Aditya Soni, Ramakrishnan M. and Pravin Char.



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