Bloomberg An investor group including Air France-KLM and Delta Air Lines Inc. looks primed to buy Italy’s fledgling state-controlled carrier, after being selected over a rival bid from a team that included Deutsche Lufthansa AG. The Rome-based Finance Ministry, which is running the process to find a new owner for ITA Airways, said on Wednesday that it will start exclusive …

  Bloomberg Hong Kong’s retail sales rose more than expected in July, reversing two months of declines as the city attempts to mount a recovery from Covid-19 curbs and other headwinds. Retail sales value rose 4.1% in July from a year ago, the Census and Statistics Department said on Wednesday. That compared to a median estimate of a 1.4% rise …

  Bloomberg In a year where initial public offerings (IPOs) globally have slumped by more than two-thirds, one would expect the summer break to be especially quiet. Not so in Asia, where stock listings have notched their second-highest August haul on record. First-time share sales in the Asia Pacific region totaled $14.9 billion this month, data compiled by Bloomberg show. …

  Bloomberg Japan’s financial regulator proposed easing corporate tax rules for crypto assets as well as lighter levies for individual stock investors in support of Prime Minister Fumio Kishida’s efforts to reinvigorate the economy. Companies should be exempted from paying taxes for paper gains on crypto coins that they hold after issuing them, the regulator proposed in its annual tax-code …

Bloomberg The European Union (EU) met its gas storage filling goal two months ahead of target as the bloc braces for a tough winter with Russia limiting supplies and energy contracts trading at elevated levels throughout the continent. European Commission President Ursula von der Leyen celebrated the milestone on Monday, telling an audience at an energy conference in Denmark that the …

Bloomberg China’s big three state-owned airlines saw total losses during the Covid pandemic balloon to 127.6 billion yuan ($18.5 billion) by the end of June, as the country stuck with its zero-tolerance strategy of border restrictions and snap lockdowns. Air China Ltd. said on Tuesday its net loss in the first six months of 2022 widened 186% to 19.4 billion …

Bloomberg Taiwan’s China Airlines Ltd. ordered 16 Boeing Co. 787-9 aircraft with options for eight more and conversion rights to a higher-capacity Dreamliner jet, as it looks beyond the pandemic. The government-backed carrier announced the deal in a statement on Tuesday, weeks after US House Speaker Nancy Pelosi visited Taiwan, infuriating Beijing, which considers the island to be part of …

Bloomberg Best Buy Co surpassed Wall Street’s profit estimate after warning a month ago that it was under pressure from waning consumer-electronics demand. Adjusted earnings fall to $1.54 a share in the fiscal second quarter, Best Buy said in a statement on Tuesday. That exceeded the $1.35 average of analyst estimates compiled by Bloomberg, which had come down sharply since …

Bloomberg Auchan Retail plans to keep its Russian operations going even though the division is likely to be unprofitable and the country’s invasion of Ukraine continues amid global condemnation. The French grocer is experiencing a “marked slowdown in activity” in Russia that began in the second quarter, Auchan Retail Chief Financial Officer Ludovic Delcloy told analysts and journalists during a …

  Bloomberg US consumer confidence rose by more than forecast in August to the highest since May, suggesting that Americans are growing more optimistic about the economy amid falling gas prices. The Conference Board’s index increased to 103.2 from a downwardly revised 95.3 reading in July, the first increase in four months, data on Tuesday showed. The median forecast in …