United States

This week in Keeping Tabs: what scientists still don't know about coronavirus as we grapple with a second wave, ESG index funds outperformed in the first half of the year, and Japan's currency challenge.

Delta Air Lines raised $6bn this week, joining the September stampede by companies to plug their bank accounts and lock in cheap funding.

If UBS’s reported exploration of a merger with Credit Suisse actually leads to a tie-up at some point, it would create a formidable European investment bank.

US-listed Chinese companies Zai Lab and Baozun have kicked off secondary offerings on the Hong Kong Stock Exchange, adding further momentum to the city’s already hot equity capital market.

Data centre operator Aligned has closed a $1bn sustainability-linked debt financing, marking the arrival in this industry of a green finance tool that is growing in popularity.

It has already been another busy week for European block trades with several accelerated deals priced on Tuesday evening. Bankers say they expect the rush to continue sellers look to shift as much paper as possible before November's US election.

Chinese hospitality company Huazhu Group is on track to raise around HK$6.06bn ($781.8m) from its secondary offering in Hong Kong, after sending price guidance to investors.

Mainland-based logistics company ZTO Express (Cayman) has hit the road with its Hong Kong secondary offering, with two other Chinese US-listed firms hot on its heels.

Altice France is marketing a €900m equivalent eight year bond across dollars and euros, coming hot on the heels of Friday’s announcement that Patrick Drahi, the billionaire owner of the telecoms group, was trying to take Altice Europe private.

Morningstar, the US investment research firm, is marketing US private placements for the first time in its 26 year history, according to several sources familiar with the situation.

This week in Keeping Tabs: the state of EU capital markets and whether good government matters, a profile of Mairead McGuinness, and Adam Tooze on central banks.

Michael Corbat is to retire from Citigroup in February, and Jane Fraser will step up as chief executive.