Bloomberg The UK competition regulator said it would launch a more in-depth investigation into Korean Air Lines Co. and Asiana Airlines Inc if the carriers fail to allay concerns their proposed merger would lead to higher prices for passengers and impact cargo operators. The airlines have until November 21 to submit proposals to address competition concerns, the Competition and Markets …

  Bloomberg Nike Inc. is opening an online store and trading platform for virtual sneakers as management pumps investment into the metaverse. The world’s largest sportswear company will release its own goods on the .Swoosh platform, and users will be able to collect and show off their items on it. The digital products will include various types of tie-ins and …

  Bloomberg SpiceJet Ltd.’s quarterly loss widened as ballooning fuel costs worsened the airline’s financial distress and offset gains from recovering air travel demand. The no-frills carrier posted a loss of 8.38 billion rupees ($103 million) for the three months through September 30, 49% higher than the deficit in the same quarter last year, according to an exchange filing. “The …

Bloomberg A recent fizzle in the hype surrounding plant protein consumption will give way to a more sustainable growth trajectory that could see the segment account for 30% or 40% of the global protein market, according to a top Nestle SA executive. Many investors piled into the faux meat market based on overly optimistic expectations of consumer uptake, Chief Technology …

  Bloomberg Amazon.com Inc. plans to cut about 10,000 jobs, the largest ever headcount reduction at the e-commerce giant as it braces for slower growth and a possible recession. The layoffs, which could begin as soon as this week, will likely target Amazon’s devices group, responsible for the Echo smart speakers and Alexa digital assistant, as well as Amazon’s retail …

  Bloomberg China sought to maintain ample cash levels in its financial system with liquidity tools of different maturities, helping halt the worst government bond selloff in six years. The liquidity infusion this month, which was done with a combination of short, medium and long-term tools, exceeded the 1 trillion yuan maturity, according to the People’s Bank of China (PBOC). …

  Bloomberg Paytm, India’s leading digital payments brand, faces another reckoning, a year after it recorded the grisliest initial public offering in India’s history. This week, the lock-up period for the company’s stock will expire, freeing investors to sell shares that haven’t yet been allowed onto the market. The biggest shareholders in One97 Communications Ltd., Paytm’s parent company, are Alibaba …

  Bloomberg Crypto assets need to be subject to global rules if they’re adopted by mainstream finance and expose banks and a wider swathe of investors to risk, Germany’s top regulator said. The recent crash in digital assets was well-timed given the ties between traditional finance and crypto are still limited, meaning it doesnt pose a risk to financial stability, …

  Bloomberg Chinese stocks listed in the US were set to rise for a fourth day, as traders digested a triple-whammy of positive news that has eroded the pessimism of a few weeks ago. The KraneShares CSI China Internet Fund, an exchange-traded product holding more than 40 Chinese stocks, rose 7.4% in premarket trading, extending its 17% gain in the …

  Bloomberg Global equity investors remain most bearish on the UK’s stocks among major markets, Bank of America Corp (BofA) said, even after a partial recovery in British assets following September’s ‘mini budget’ turmoil. A net 25% of fund managers are underweight UK stocks, according to BofA’s latest survey. While that’s an improvement from last month — which saw a …