Bloomberg Airbus SE Chief Executive Officer Guillaume Faury said high energy prices are weighing hard on suppliers to its jetliner programs and that some smaller firms are having to idle production. While the worst of a supplier crunch triggered by shortages of labour and raw materials may be over, the high cost of power has become a pressing issue for …

  Bloomberg Indian smartphone maker Lava International Ltd. is in advanced talks with China’s Huaqin Technology Co. to create an electronics manufacturing venture in the South Asian nation. The venture would aim to win contracts from US and Chinese customers for research and development, design, and manufacturing of electronics products, according to a letter from Lava to India’s technology ministry …

Bloomberg The pound rallied and UK bonds surged as more of Prime Minister Liz Truss’s package of unfunded tax cuts were reversed. Stocks rise, with investors preparing for a number of key earnings reports this week. Chancellor Jeremy Hunt said the UK will raise £32 billion ($36.15 billion) with new measures, scrapping plans to cut income tax and dropping a …

  Bloomberg Chinese regulators are ramping up efforts to support the stock market, which saw little reprieve from President Xi Jinping’s speech amid continued pressure from geopolitical tensions and the Covid Zero policy. A series of market-supporting measures are in the pipeline, including proposals to encourage companies to buy back shares and to ease curbs on short-term transactions by overseas …

Bloomberg Food importers from Africa to Asia are scrambling for dollars to pay their bills as a surge in the US currency drives prices even higher for countries already facing a historic global food crisis. In Ghana, importers are warning about shortages in the run up to Christmas. Thousands of containers loaded with food recently piled up at ports in …

  Bloomberg Kroger Co agreed to buy Albertsons Cos in a deal with an enterprise value of $24.6 billion that would create a US grocery giant with almost 5,000 stores and annual revenue of about $200 billion. Investors will receive $34.10 for each share in Albertsons, which includes a special dividend, the companies said in a statement. That reflects a …

Bloomberg Pilots at Deutsche Lufthansa AG’s discount carrier will strike for 72 hours after Germany’s Vereinigung Cockpit union called Eurowings’ latest offer “completely insufficient.” The current dispute centers “exclusively” around a reduction of pilot workload and not pay for cockpit staff, according to a statement issued by the union. The employees “have no choice but to express their displeasure about …

  Bloomberg Delta Air Lines Inc. says it’s not interested in buying back shares anytime soon, even though pandemic-related restrictions have finally ended. “Our sole priority at Delta is to make sure that any excess cash that we’re generating is used to pay down debt, and we acquired a meaningful amount of debt during the pandemic,” Chief Executive Officer Ed …

  Bloomberg Uniqlo owner Fast Retailing Co rises the most in three months after the company issued an outlook for profit and sales for the current fiscal year ahead of analysts’ projections. Asia’s largest retailer is forecasting a record profit for the year ending August 2023, thanks to improving demand for its cheap casual apparel in Japan and a weaker …

  Bloomberg Hong Kong International Airport’s September passenger traffic volume increased by 133% from a year earlier, after authorities scrapped some of the city’s harshest travel restrictions, including requirements for hotel quarantine and a pre-boarding Covid test. Passenger throughput climbed to 525,000, 10% higher than in August. The growth was boosted by visitors to and from Southeast Asia, the Airport …