Bloomberg The airline industry remains likely to return to profit next year, with high employment levels and growth in key economies sustaining demand even as household bills spiral, the head of its main lobby group said. Carriers should achieve positive earnings in 2023 for the first time since 2019, before the coronavirus pandemic roiled global travel, International Air Transport ...

  Bloomberg Xiaomi Corp.’s quarterly revenue falls almost 10% as it battled a slumping global smartphone market and weak consumer demand at home. Sales of mobile devices fall 11%, leading declines across business divisions encompassing smart electronics and internet services. The Beijing-based company logged sales of 70.5 billion yuan ($9.9 billion), slightly above estimates. But it posted a surprise net ...

  Bloomberg Amazon.com Inc. spooked investors last month when it predicted the slowest holiday season growth in its history. Now there are signs—albeit tentative—that the world’s largest e-commerce company could have a somewhat merrier Christmas than anticipated. Inflation has eased in recent weeks and, according to survey results released Sunday by Jefferies Financial Group, US consumers see prices moderating in ...

  Bloomberg Airlines need to adopt more robust pilot training to prevent accidents when pilots must manually take over during emergencies or are confused by automated flight systems, US regulators said. The Federal Aviation Administration (FAA) published what is known as an advisory circular on its website with extensive new training guidelines for carriers and other commercial aviation operators in ...

  Bloomberg Alessandro Michele, the creative director who turned Gucci into a hit brand with younger generations, is leaving the Italian label. Kering SA, which owns the brand, announced Michele is stepping down in a statement. Gucci’s design office will oversee the label’s direction until a new creative organisation is announced, the company said. Michele, 49, helped turn the Florence, ...

  Bloomberg China’s mega banks, led by Industrial & Commercial Bank of China Ltd., (ICBC) pledged financing support of at least 925 billion yuan ($129 billion) to property developers as part of a push to ease turmoil in the nation’s real estate market. ICBC, the world’s largest bank by assets, on Thursday said it would provide 655 billion yuan in ...

  Bloomberg UBS Group AG has seen significant inflows into its Asia Pacific wealth management over the past three months from clients fleeing Credit Suisse Group AG, as its smaller Swiss rival struggles with a crisis of confidence. Hundreds of wealthy customers have sought to place their funds with UBS in the key growth region, and the bank is planning ...

Bloomberg Bank of Korea (BOK) Governor Rhee Chang-yong signalled the end may be near for the country’s unprecedented streak of policy tightening to curb inflation, returning to a smaller interest-rate hike as concerns grow over economic growth and credit markets. “I am aware that the pain among economic players is deepening as rates rise and the economy weakens,” Rhee said ...

  Bloomberg The company that’s reprinting Britain’s banknotes following the accession of King Charles III saw its shares tumble 25% after it issued a profit warning. De La Rue Plc slumped after it said full-year adjusted operating profit would miss market expectations, days before a shareholder vote on the future of the money printer’s chairman that comes amid a battle ...

  Bloomberg Morgan Stanley Private Equity Asia is considering selling Chinese financial education company Coinage International. The buyout firm could seek a valuation of about $500 million for the education business in a deal. Morgan Stanley PE Asia has received interest from companies in the industry and financial sponsors. Deliberations are preliminary and the private equity firm could decide against ...