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Air Canada shares fell sharply on Tuesday on fears that its market value would be diluted after the Canadian government took a discounted equity stake in the flagship carrier as part of a deal for C$5.9 billion ($4.7 billion) in aid.
But analysts and investors said Air Canada s decision to accept the bigger-than-expected aid package, which was announced on Monday, was the right decision for Canada s largest carrier to ride out the crippling downturn in air travel caused by the coronavirus pandemic.
The deal gives Ottawa a roughly 6 per cent stake in Canada s largest carrier at a discount of 14 per cent, which prompted several analysts to cut their price targets.
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Fast & Furious star Dwayne Johnson said on Monday that he would run for US President if he felt he had enough support from Americans.
Johnson, 48, one of the highest-paid and most popular actors in the US, has been flirting with a possible White House bid for several years. I do have that goal to unite our country and I also feel that if this is what the people want, then I will do that,” Johnson said when asked about his presidential ambitions in an interview broadcast on the
Today show.
The former professional wrestler did not say which party he would represent or when he might launch any bid for the White House.
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South-East Asia s biggest ride-hailing and food delivery firm, Grab Holdings, agreed to a merger on Tuesday with US-based Altimeter Growth Corporation in a deal that gives Grab an initial equity value of about $39.6 billion and will lead to a public listing.
The merger, the biggest blank cheque company deal ever, underscores the frenzy on Wall Street as shell firms have raised $99 billion in the United States so far this year after a record $83 billion in 2020.
Singapore-based Grab s agreement with a special purpose acquisition company backed by Altimeter Capital includes a more than $4bn private investment in public equity by investors including BlackRock, Fidelity International, Janus Henderson Investors and Temasek Holdings.
Apple tends to cater to the higher end of the (US) market; so it might grab a small portion of LG s sales, Gartner analyst Tuong Nguyen said. It s more likely that Samsung inherits a lot of it because both vendors compete across similar markets.
Globally, LG s market share shrank to 2 per cent in 2020, a massive drop from its status as the world s third-largest smartphone maker behind Samsung Electronics and Apple during its peak in 2013.
The company shipped 23 million phones last year, compared with Samsung s 256 million, according to Counterpoint.
Counterpoint analyst Tarun Pathak said LG was mostly competing in the mid-tier, as its flagship phones received tepid market response.
It also faces huge budget deficits that have been deepened by the coronavirus crisis. The programme supported by EFF/ECF arrangements with the Fund provides a strong signal of support and confidence, IMF deputy managing director Antoinette Sayeh said in a statement. The Kenyan authorities have demonstrated strong commitment to fiscal reforms during this unprecedented global shock and Kenya’s medium-term prospects remain positive.
Kenya was hit hard at the onset by the Covid-19 pandemic, but its economy has been picking up after posting an estimated slight contraction of 0.1 per cent in 2020, the IMF said.
The fund is forecasting a sharp swing to growth of 7.6 per cent in 2021 and 5.7 per cent in 2022, but said Kenya continued to face challenges in the return to durable growth, and its past gains in poverty reduction had been reversed.