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☆ Cathay Pacific buys 32 Airbus A321-200neo aircraft for $4.66 billion
▼ + stars: | 2023-09-29 | by ( ) www.reuters.com time to read: +1 min

Sept 29 (Reuters) - Hong Kong's Cathay Pacific Airways (0293.HK) said on Friday it had purchased 32 Airbus A321-200neo aircraft from Airbus (AIR.PA) for a basic price of $4.66 billion. The deal follows an agreement between an Airbus unit and the aircraft acquisition facilitators of Hong Kong's flagship carrier in September 2017. Cathay expects the aircraft to be delivered by the end of 2029, and expand the fleet capacity of Hong Kong Express, one of its units. Hong Kong-based conglomerate Swire Pacific (0019.HK) and Air China (601111.SS), which together hold more than 50% of the voting rights in Cathay, have approved the deal, the airline said in a filing. "Swire Pacific and Air China do not have any interest in the transaction other than as shareholders," Cathay said.

Persons: Hong, Rishav Chatterjee, Devika Organizations: Cathay Pacific Airways, HK, Airbus, Hong Kong's, Cathay, Hong Kong Express, Swire Pacific, Air, Thomson Locations: Hong Kong, Air China, Cathay, Bengaluru

☆ Samsonite’s baggage is heavy with geopolitics
▼ + stars: | 2023-09-12 | by ( Thomas Shum | ) www.reuters.com time to read: +4 min

Of the restless group, luggage maker Samsonite International (1910.HK) has the least financial reason to mull a move. The $5 billion U.S. and Luxembourg-based company was one of the first Western companies to list in Hong Kong. Sales from Asia - Samsonite’s most profitable region – accounted for almost 40% of the total in the first half of 2023. Reuters Graphics Reuters GraphicsFrom a liquidity point of view too, Samsonite has had a better experience in Hong Kong than other international arrivals. That’s better than other international consumer brands that boast similar levels of prestige.

Persons: Andrew Kelly, Tim Parker, Samsonite, Kyle Gendreau, CK Hutchison, It’s, Calvin Klein, Prada, ” Gendreau, Una Galani, Katrina Hamlin Organizations: Woodbury, REUTERS, Reuters, Global, Samsonite, HK, Reuters Graphics Reuters, Prada, Swire Pacific, CK, Bloomberg, Thomson Locations: Central Valley , New York, U.S, HONG KONG, Hong Kong, mull, Luxembourg, Asia, New York, Washington, Beijing, China

☆ Bank of America: Asian buybacks just hit a 20-year high — and these stocks are a buying opportunity
▼ + stars: | 2023-09-04 | by ( Lucy Handley | ) www.cnbc.com time to read: +1 min

Analysts at Bank of America named Asian stocks with high buybacks, which they said are an opportunity for investors. "Data since Jan-90 shows Asia stocks with High Share Buybacks tend to outperform," the analysts wrote in an August 31 research note. "The proportion of Asia stocks buying back shares is at a 20-year high, suggesting increased opportunity for investors," said the analysts led by Nigel Tupper. Other Chinese stocks on BofA's list include semiconductor supplier Daqo New Energy and utilities firm Huaneng Power . Australian stocks on BofA's list included banks Westpac and National Australia Bank .

Persons: Nigel Tupper, BofA, CJ Cheil Organizations: Bank of America, Companies, Smart, New Energy, Huaneng, Catcher Tech, Westpac, National Australia Bank, Woolworths, Keppel Corp, HK Land, Swire Pacific Locations: Asia, China, Huaneng Power, South Korea, Australia, Taiwan, Hong Kong, U.S

☆ Cathay Pacific posts best H1 profit since 2010, to repay govt aid package
▼ + stars: | 2023-08-09 | by ( Clare Jim | ) www.reuters.com time to read: +2 min

HONG KONG, Aug 9 (Reuters) - Cathay Pacific Airways (0293.HK) reported on Wednesday its best first-half profit in more than a decade and announced plans to order more planes and repay a Hong Kong government rescue package after a major turnaround in travel demand. Cathay has recovered capacity more slowly than its closest rival, Singapore Airlines, (SIAL.SI) because it faced tighter quarantine rules for longer, and needed to train more staff and bring back grounded planes. The Hong Kong carrier expects to reach 70% of its pre-pandemic capacity by the end of the year and 100% by the end of 2024. Cathay said it intended to exercise purchase rights to buy 32 Airbus (AIR.PA) A320neo family aircraft, looking to add to its fleet as demand rebounds. ($1 = 7.8151 Hong Kong dollars)Reporting by Clare Jim and Donny Kwok; Editing by Jamie Freed and Gerry DoyleOur Standards: The Thomson Reuters Trust Principles.

Persons: Hong, Patrick Healy, Clare Jim, Donny Kwok, Jamie Freed, Gerry Doyle Organizations: Cathay Pacific Airways, HK, Hong, Cathay, Singapore Airlines, Hong Kong, Airbus, Swire Pacific, Thomson Locations: HONG KONG, Hong Kong, Hong, Air China

HONG KONG, June 29 (Reuters Breakingviews) - There's plenty to like about Swire Pacific's (0019.HK) Coca-Cola sale. Little wonder Swire's Hong Kong shares rallied as much as 8% on Thursday morning. The Coke sale is refreshing for investors, but only until the rest of Swire Pacific regains its fizz. Upon completion of the sale, Swire Pacific will distribute HK$11.7 billion in special dividends to its shareholders. The company also plans to enter into a 13-year agreement to provide management services to Swire Coca-Cola USA and receive an annual fee of at least HK$117 million.

Persons: Swire Pacific's, Swire, John Swire, Antony Currie, Thomas Shum Organizations: Reuters, HK, Cathay Pacific, Swire, Cola, John Swire & Sons, Cola Europacific Partners, Citi, Cathay, Swire Pacific, Hong Kong, Cola USA, Hong, Thomson Locations: HONG KONG, Hong Kong, China, Cathay Pacific

Hong Kong CNN —Cathay Pacific Airways said Tuesday it had fired three cabin crew members after a passenger complained of discrimination on a flight from mainland China, an incident that angered Hong Kong officials and underscored the pressure on the city’s flag carrier to please Beijing. In a statement late Tuesday announcing the dismissals, Cathay Pacific (CPCAY) CEO Ronald Lam said he would personally lead a task force to improve service and avoid similar incidents in the future. A passenger walking to a Cathay Pacific counter at Hong Kong's international airport in 2018. The airline made headlines this week over an incident of alleged discrimination with a passenger from mainland China. In an editorial, it said there was “a question mark on how far Cathay Pacific can fly if their old problems remain unchanged.”— CNN’s Nectar Gan and Chris Lau contributed to this report.

☆ China Development Forum: Li Qiang rolls out the welcome wagon for foreign companies
▼ + stars: | 2023-03-28 | by ( Laura He | ) edition.cnn.com time to read: +4 min

“China’s economy has been deeply integrated into the global division of labor.”Li pledged that the country will align with international economic and trade rules, give equal treatment to foreign investment and facilitate trade and investment by removing government controls. Worries about foreign investmentConcerns about foreign capital leaving China have grown. To boost business confidence, China’s new economic leadership is trying to reassure foreign business and the domestic private sector. “You are not foreigners, but family,” Wang Wentao, the commerce minister, told attendees at the China Development Forum. In a meeting with Cook on Monday, he said China is willing to “provide a good environment and services” for foreign enterprises including Apple.

☆ Morgan Stanley says China's market will be the biggest winner in 2023 and these stocks stand out
▼ + stars: | 2023-01-20 | by ( Zavier Ong | ) www.cnbc.com time to read: +3 min

Since the turn of the year, investment banks have become increasingly bullish on the world's second-largest economy, upgrading their outlook on its stocks. But Morgan Stanley is going even further: It's predicting that Chinese stocks will beat global markets this year. "This actually implies that the Chinese equity market will top global equity market performance for 2023. So, this is the time to get back into China," Wang said. Stock picks Wang said the "number one trade" she would recommend to investors is to buy "large-cap, highly liquid" Chinese internet names.

☆ China’s reopening has gotten Wall Street excited. Here’s how the pros are playing it
▼ + stars: | 2023-01-10 | by ( Zavier Ong | ) www.cnbc.com time to read: +5 min

Over the past week, a host of Wall Street banks have turned increasingly bullish on the world's second-largest economy and have upgraded their outlook on Chinese stocks. Morgan Stanley expects China's GDP to grow by an "above-consensus" 5.4% in 2023, on the back of a "fast-tracked" reopening and more proactive policy easing. Meanwhile, UBS says Chinese stocks look increasingly attractive. How to play the reopening Against this backdrop, analysts have named a slew of both Chinese and global stocks they think will benefit most from China's reopening. Bank of America's domestic reopening beneficiaries include consumer stocks such as alcoholic beverage makers Kweichow Moutai and Tsingtao Brew , airline stocks including China Southern Airlines , as well as online travel platform Trip.com .

☆ Vivienne Westwood, Britain's provocative dame of fashion, dead at 81
▼ + stars: | 2022-12-29 | by ( Marie-Louise Gumuchian | ) www.reuters.com time to read: +5 min

[1/4] Designer Vivienne Westwood poses for a portrait before her catwalk show at London Fashion Week Men's in London, Britain June 12, 2017. "Vivienne Westwood died today, peacefully and surrounded by her family, in Clapham, South London. Instantly recognisable with her orange or white hair, Westwood first made a name for herself in punk fashion in 1970s London, dressing the punk rock band that defined the genre. Westwood used her public profile to champion issues including nuclear disarmament and to protest against anti-terrorism laws and government spending policies that hit the poor. "I've used fashion to challenge the status quo."

☆ The soda market is flat, but not for Dr Pepper
▼ + stars: | 2022-12-28 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +8 min

And recently, Dr Pepper has been gaining ground on its competitors, even as the overall soda market goes flat. “One of the bright spots … has been Dr Pepper.”Founded in 1885 in Waco, Texas, Dr Pepper was the first in a wave of 19th-century upstart soda companies. Courtesy Keurig Dr PepperToday, Dr Pepper advertises itself as a treat, using a pint-sized mascot called Lil’ Sweet in its commercials. After Dr Pepper established itself as an alternative to mainstream colas, it launched on a path that ultimately made it part of the country’s third-largest soft drink maker, Keurig Dr Pepper. Dr Pepper hits the sceneDuring the wave of mega-mergers in the 1980s, Coca-Cola tried to scoop up Dr Pepper.

Ashton also questioned how Mas’ud came to be in custody in the U.S. — something that remains unclear. Late last month, local Libyan media reported that Mas’ud had been kidnapped by armed men from his residence in Tripoli, the capital. He was convicted of 270 counts of murder, was given a life sentence and was the only person convicted for their involvement in Lockerbie. The release was met with scenes of jubilation in Libya, where al-Megrahi was greeted by thousands of well-wishers in the capital, Tripoli. He is among the victims’ family members who question the evidence used to convict al-Megrahi in 2001.

☆ Global stocks tumbled last week — but these names bucked the trend
▼ + stars: | 2022-12-12 | by ( Weizhen Tan | ) www.cnbc.com time to read: +1 min

Global stocks ended up with weekly losses as worries over continued interest rate hikes persisted. The MSCI World index lost 2.56% last week, following Wall Street's trajectory . But the following stocks under the MSCI World index stood out for their weekly gains, according to FactSet data. Hong Kong-listed stocks had a good week in particular, as a local news outlet reported the city is considering easing Covid measures further. The stock stood out for winning a "buy rating" from all analysts covering it — and being given a 67.8% average upside to price target.

CNN —Defeated Arizona Republican gubernatorial candidate Kari Lake has filed suit in Arizona Superior Court challenging the certification of the state’s election. “Accordingly, Lake is entitled to an order setting aside the election in its entirety and ordering a new election,” Lake’s attorneys write in the suit. All four GOP nominees that were at the top of the Arizona ticket had echoed Trump’s lies about the 2020 election. Arizona was a key 2022 battleground for governor and Senate, and likely will be again for president in 2024. Lake has repeatedly said she would not have certified Joe Biden’s win in Arizona in 2020.

☆ Maxwell Frost: Gen Z congressman-elect says he was denied DC apartment over bad credit
▼ + stars: | 2022-12-09 | by ( Sonnet Swire | ) edition.cnn.com time to read: +3 min

CNN —The congressman-elect set to become the first member of Generation Z to serve in Congress said Thursday his rental application for an apartment in Washington, DC, was denied because of his “really bad” credit. “Just applied to an apartment in DC where I told the guy that my credit was really bad. This ain’t meant for people who don’t already have money,” Maxwell Frost said in a tweet. Frost is not the only incoming member of Congress to have struggled to find housing in DC. Frost pointed out that once his congressional salary kicks in, he’ll be fine, adding that “we have to do better” for others.

☆ Cathay Pacific's new chief Lam to spearhead COVID recovery, two-brand plan
▼ + stars: | 2022-11-09 | by ( Jamie Freed | ) www.reuters.com time to read: +3 min

Now that the Asian financial hub has scrapped onerous hotel quarantine rules, the airline is looking to build up passenger numbers. "Cathay has a mountain to climb to replace the staff, particularly pilots, that have left and continue to leave," he said. Lam, 50, joined Cathay in 1996, and was previously its chief customer and commercial officer. The two men took the top jobs in August 2019, after the resignation of then chief executive Rupert Hogg and Paul Loo, chief customer and commercial officer, amid mounting Chinese regulatory scrutiny of employees' involvement in the protests. Cathay's new chief customer and commercial officer is Lavinia Lau, 52, who moves from the role of director of customer travel, into a strong position to become its first female chief executive.

☆ Cathay’s outgoing boss can flash half-decent card
▼ + stars: | 2022-11-09 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Nov 9 (Reuters Breakingviews) - Cathay Pacific’s (0293.HK) new boss has reason for optimism. The outgoing chief executive can flash a half-decent report card. He navigated the Air China- (601111.SS) and Swire Pacific-backed (0019.HK) company through backlash from Beijing after employees took part in the 2019 Hong Kong protests. The $6 billion airline has seen a modest rebound of travellers since Hong Kong dropped hotel quarantine requirements. Since Tang’s appointment in August 2019, Cathay has logged a negative total return of 16%.

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