Bloomberg Hong Kong’s de facto central bank bought the local dollar at the fastest pace on record this month to defend its currency from crossing the weak end of its trading band. The Hong Kong Monetary Authority (HKMA) bought HK$78.1 billion ($10 billion) so far this month, including its HK$20.8 billion purchase. The currency still continues to linger near the ...

  Bloomberg The UK government is extending a plan to sell more of its 11.3 billion-pound ($14 billion) stake in NatWest Group Plc for another year, as it looks to further reduce its stake in the lender. UK Government Investments Ltd., the body that oversees state holdings, said the extension means the trading plan is now set to terminate on ...

  Bloomberg The yen sinks to a fresh 24-year low against the dollar as risk assets rebounded and investors ventured out of havens. The currency falls more than 1% overnight and traded at 136.50 per dollar in Tokyo, its lowest since 1998. “The demand for safe haven currencies is down today and that’s weighing on the yen,” said Brendan McKenna, ...

  Bloomberg India’s rupee may extend declines to a record-low 81 per dollar by year-end due to rising prices of crude and other raw materials, according to Bank of America (BofA). The currency has already slumped more than 5% this year as Russia’s invasion of Ukraine sent Brent crude surging to almost $140 a barrel in March. The rally in ...

  Bloomberg Stocks in Europe fall along with US futures and commodities amid ever-louder warnings that Federal Reserve monetary tightening may lead to an economic downturn. The Stoxx Europe 600 Index retreated while contracts on the Nasdaq 100 extended declines to 2% and those on the S&P 500 also dropped, pointing to a reversal from Monday’s bounce in the main ...

  Bloomberg Bitcoin resumed a fall on Wednesday, moving in tandem with weakening stocks amid mounting concerns about a global recession. The largest cryptocurrency declined as much as 4.3% to $19,947, and was holding right around the key $20,000 level as of 9:08 am in London. Ether falls by a maximum 5% to $1,066.02. Shiba Inu, the 14th-biggest cryptocurrency by ...

  Bloomberg The German government is willing to discuss a US proposal to cap the price of Russian oil exports, while cautioning that such a measure may be too complicated to implement. US Treasury Secretary Janet Yellen’s idea to link an oil price cap to insurance sanctions is an interesting proposal, and the Group of Seven most industrialized countries are ...

  Bloomberg Associated British Foods Plc said that budget-clothing retailer Primark will test a UK click-and-collect service on children’s products, seeking to boost sales that are still recovering from the pandemic. In a significant departure for a retailer that has previously resisted moving any of its sales online, the trial will take place in up to 25 stores in the ...

  Bloomberg JetBlue Airways Corp raised its offer to purchase Spirit Airlines Inc, the latest move in a multi-billion dollar takeover contest with rival Frontier Group Holdings Inc, with both would-be suitors battling to secure a swift track to expansion as domestic travel demand surges. New York-based JetBlue is now offering $33.50 per share, up from $31.50 on June 6, ...

Bloomberg EasyJet Plc said it will rein in summer capacity after London Gatwick and Amsterdam Schiphol airports, its two biggest bases, capped flights to help cope with a staffing shortage. The measure is set to push up costs. The UK discount carrier will now operate at around 87% of pre-Covid capacity in the three months ending on June 30, increasing ...