Bloomberg Weeks of fretting over the Federal Reserve’s plan to combat inflation with higher interest rates is coming to fruition as Asian stock markets tumble into the bear markets and technical corrections. The MSCI Asia Pacific Index slid as much as 2.7% on Thursday, pushing it down more than 17% from its recent high, after Fed Chair Jerome Powell …

  Bloomberg South Korea’s LG Energy Solution soared in its first day of trading in Seoul, following the country’s biggest initial public offering on record. The world’s second-largest battery maker soared to close 68% above its IPO price of 300,000 won, even as the nation’s benchmark Kospi tumbled into a bear market. Now worth over $98 billion, it’s bigger than …

  Bloomberg Wizz Air Holdings Plc is scouring its European operations for planes and staff to boost UK capacity amid mounting optimism that test-free travel will spur a comeback in demand by the summer. Bookings are up as Britain prepares to scrap testing for vaccinated arrivals after the omicron variant of Covid-19 pushed Wizz to a loss last quarter. Chief …

  Bloomberg Boeing Co. generated cash for the first time since early 2019 as rising 737 Max deliveries helped bolster company finances against mounting 787 Dreamliner losses. Wall Street was caught by surprise by the $494 million in fourth-quarter free cash flow, disclosed in an earnings statement Wednesday. Analysts had expected an outflow of about $1 billion. Boeing has also …

  Bloomberg A new vaccine requirement for Walmart locations in Quebec has prompted calls for a boycott among some Twitter users. The protests from those opposed to Covid vaccinations, known as anti-vaxxers, follow the Canadian province’s move to bar unvaccinated patrons from entering government-run stores and large retailers — part of efforts to persuade more people to get immunized. Walmart …

  Bloomberg New York is appealing a ruling by a Long Island judge that its mask mandate for schools and other public places is an illegal end run around the state constitution. The mask-wearing rule was issued December 10 by the state’s health commissioner at the urging of Governor Kathy Hochul, around the start of the omicron surge of the …

Bloomberg Starbucks Corp. is asking the US labor board to overturn a ruling allowing store-by-store unionization in Arizona, where ballots were already mailed to employees last week. In a Monday filing with the National Labor Relations Board, the coffee chain sought to overturn a regional director’s ruling that deemed the employees of a single store in Mesa an appropriate potential …

  Bloomberg Europe is imposing new requirements on how banks report environmental risks and carbon targets, to give investors a better picture of the threats that climate change poses to the industry. The European Banking Authority (EDBA) has unveiled a new set of mandatory templates, tables and instructions that banks will have to follow, after a review of environmental, social …

  Bloomberg UK consumers spent significantly more on debit cards in the first two weeks of January but a mounting cost-of-living crisis is expected to take a heavy toll in 2022. That’s according to Lloyds Bank, which found that spending rises 27% from the same period of 2020, before the pandemic hit, with 42% more splashed out at restaurants. The …

  Bloomberg Credit Suisse Group AG will take a large legal charge in the fourth quarter and warned of outflows at its key wealth business, capping a tough year for the bank after a series of scandals and management turmoil. The lender will set aside 500 million francs ($546 million) for litigation stemming primarily from its investment banking business, according …