BALI / WAM The G20 health ministers have agreed to establish a pandemic fund. The fund will be commonly used to fix the health system and close the budget gap for the following five years, based on how the Covid-19 pandemic has been handled in the previous two years. At the G20updates press conference, Secretary General of the Indonesian …

  Bloomberg When the UK supermarket chains Asda and Morrisons were taken over last year, their private equity buyers took the typical step of piling them with debt. Now, that burden is becoming increasingly heavy as soaring inflation squeezes incomes, shoppers tighten their belts and borrowing costs soar. The UK’s third and fifth-largest supermarkets are facing combined annual interest bills …

  Bloomberg Alibaba Group Holding Ltd. decided not to disclose full sales results for its signature Singles’ Day shopping festival for the first time, after forecasts that the figure may suffer a decline unprecedented in the event’s 14-year history. Alibaba said in a statement gross merchandise value (GMV) was “in line with last year’s GMV performance despite macro challenges and …

  Bloomberg Malaysia Airlines Bhd is considering ordering 25 single-aisle jets, probably Boeing Co. 737 Max on top of an existing firm order for 25 of those planes, according to Chief Executive Officer (CEO) Izham Ismail. “Our future network requires 50 narrowbody aeroplanes, so we have still got space for 25,” Izham said on the sidelines of an annual meeting of …

  Bloomberg Boeing Co. sees India as key to offsetting sluggish business in China, its biggest overseas market, as it tries to seal a massive aircraft order from the South Asian nation’s flag carrier and expand its presence in the country. “With uncertainty around China, the Indian market is increasingly important to us,” John Bruns, Boeing vice president of commercial …

  Bloomberg United Airlines Holdings Inc. told pilots it will move forward a planned 5% pay hike to December “in a show of good faith,” days after the aviators rejected a proposed contract. The carrier decided to accelerate the raise based on its financial results through September and outlook for the rest of 2022, according to a letter sent by …

  Bloomberg Coupang Inc, the South Korean e-commerce firm backed by SoftBank Group, posted its first operating profit on record after winning more customers and improving cost efficiency. The third-quarter operating profit amounted to $77.4 million, compared with a loss of $315 million on that basis a year earlier, the US-listed company said in a statement. Net revenue climbed 10% …

  Bloomberg Amazon.com Inc. has developed a robot capable of identifying and handling individual items, a milestone in the e-commerce giant’s efforts to reduce its reliance on the human order pickers who currently play a key role in getting products from warehouse shelves to customers’ doorsteps. The robotic arm, tipped by a set of retractable suction devices, is called Sparrow. …

  Bloomberg ByteDance Ltd.’s TikTok has slashed about $2 billion off its target for 2022 ad revenue, underscoring fallout of a global downturn that’s hammered fellow internet giants from Google to Meta Platforms Inc. TikTok Chief Executive Officer Shou Zi Chew told a handful of employees that the Chinese-owned app has slashed its ad forecast for 2022 to $10 billion …

  Bloomberg Europe’s inflation crisis is beginning to catch up with the automakers. Stellantis NV said consumers in Europe are slightly dialling back car purchases, joining Germany’s BMW AG in warning the region is on the backfoot due to surging costs for anything from energy to lending. Carmakers long defied economic headwinds thanks to robust demand for their priciest models, …