Bloomberg Peru tightened monetary policy for a third straight month after inflation surged to its highest rate in 12 years and political volatility roiled the currency. The central bank lifted its benchmark rate half a percentage point, to 1.5%, matching the median forecast of economists surveyed by Bloomberg. It was the third consecutive rate hike by the bank led by …

Bloomberg Thousands of users of Facebook Inc’s main social network and Instagram photo-sharing app reported having trouble accessing the services for a short stretch midday, the second time in a week they were out of reach for a wide swath of people. More than an hour after apologising for the outages, Instagram said on Twitter that the situation was resolved. …

Bloomberg Volvo Car AB is recalling more than 460,000 vehicles worldwide over risk an air-bag component that’s bedeviled automakers for years could rupture into metal fragments and strike drivers. The Swedish carmaker told the US National Highway Traffic Safety Administration (NHTSA) it has identified potential for tablets of propellant in its vehicles’ air-bag inflators to decay if they’re subject to …

Bloomberg Nissan Motor Co is planning to spend more than 130 billion yen ($1.2 billion) implementing new technologies that will make its global factories more efficient, less polluting and ready to produce next-generation cars such as electric vehicles. As part of its “Intelligent Factory Initiative,” Nissan has spent about 33 billion yen over the past two years installing advanced equipment …

Bloomberg Automakers logged their weakest September sales in the UK since 1998 as the global shortage of semiconductors constrains production. Registrations plunged more than a third from a year ago to 215,312 cars, according to the Society of Motor Manufacturers and Traders. It’s a significant blow to the industry because September is typically the market’s second-busiest month of the year. …

Bloomberg Walmart has demoted the chief operating officer of its core US business and installed a finance expert in the role, shuffling its senior leadership team just before the key holiday period. Dacona Smith, one of the retailer’s highest-ranking Black executives, will shift to become executive vice president and chief operations officer of Walmart’s US stores, unit Chief Executive Officer …

Bloomberg Tesco Plc’s boss is putting the finishing touches on a plan to deliver a catastrophe-free Christmas as a deepening supply chain crisis makes it harder for grocers to keep shelves stocked with their full range of products. Chief Executive Officer Ken Murphy said Britain’s biggest supermarket has ordered 10% more turkeys this year and is increasing the number of …

Bloomberg Even though Hong Kong is one of the few places left in the world adhering to a Covid-zero approach, the city’s Chief Executive Officer Carrie Lam believes the Asian financial center can retain its status as an international aviation hub. “Although the global aviation industry, with Hong Kong being no exception, has been hard hit by the Covid-19 pandemic, …

Bloomberg TUI AG will raise 1.1 billion euros ($1.3 billion) by selling new stock, making it the latest travel company to tap investors for cash to reduce a giant pandemic debt pile. The share sale, at a discount price of 2.15 euros each in a rights offering, will allow the world’s biggest tour operator to reduce its draw on a …

Bloomberg Booming e-commerce sales have made a unicorn out of a Utah-based startup that helps companies manage their sales on Amazon.com Inc and other digital marketplaces. Pattern Inc, which started out selling fridge magnets and other trinkets on Amazon’s third-party marketplace, on Wednesday said it raised $225 million in new outside investment at a valuation of about $2 billion. Founded …