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Europe’s energy crisis will cost you $200b or more

It’s a falling chain of energy dominoes — one in which each tile is worth many billions of euros. A failed utility here, a nation’s supply there. When the dust settles, the total bill for rescuing the European energy market this winter will easily top $200 billion. This may sound flippant, and it’s admittedly a rough estimate. But the calculus ...

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Did Buffett see BYD’s one problem?

After years of sitting on an over 20% stake in China’s BYD Co, Warren Buffett’s Berkshire Hathaway may be mulling an exit. A similarly-sized position showed up in Hong Kong’s clearing system, fuelling worries that the Sage of Omaha was over the hot Chinese electric vehicle and battery maker. It sure seemed like odd timing: BYD has risen to the ...

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Dems scapegoat Biden for their misjudgments

  Democratic discontent with President Joe Biden is boiling over into the press. His polling is abysmal, his age is showing and the Democrats are facing a potential wipeout in the midterm elections in November. Democrats are taking their complaints, mostly off the record, to reporters. Democratic commentator Ed Kilgore forecasts that “if things go as badly as expected for ...

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Airbus, Boeing vie for $21b of orders at Farnborough show

  Bloomberg Delta Air Lines Inc is poised to kick off the Farnborough International Airshow with orders for Boeing Co and Airbus SE jets as sales teams for the rival planemakers race to wrap up deals worth at least $21 billion ahead of the industry’s largest trade expo. The event outside of London marks the first large-scale gathering of industry ...

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Qantas forecasts more travel bumps ahead

Bloomberg Qantas Airways Ltd, which has faced severe criticism from passengers over disruptions, is anticipating further challenges in the coming weeks as it navigates staff sickness and a tight labour market. Passengers angered by delays and cancellations have lashed out at the airline and Chief Executive Officer Alan Joyce, particularly over a decision to shed thousands of jobs. The carrier ...

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Mid-air malfunctions come on top of SpiceJet’s financial woes

  Bloomberg SpiceJet Ltd staged one of global aviation’s most remarkable turnarounds in 2015 after founder Ajay Singh swept in at the eleventh hour to rescue it. Less than a decade later, the Indian budget airline needs a revival of fortunes again. Once an investor darling, SpiceJet is now the worst-performing airline stock in Asia, fighting a run of negative ...

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Embraer sees supply chain snarls clouding 2022 jet goal

  Bloomberg Snarls along the aviation supply chain may make it a challenge for Embraer SA to meet its year-end commercial delivery targets, the Brazilian aerospace manufacturer said. “We are suffering with these supply chain constraints. We had a difficult first half,” Chief Executive Officer Francisco Gomes Neto said in an interview with Bloomberg. “We’re doing everything we can to ...

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Esprit planning comeback in Asia with departure from fast fashion

  Bloomberg Esprit Holdings Ltd, the once high-flying Hong Kong fashion retailer before it tumbled into years of losses, is planning a comeback in Asia, pivoting away from a fast-fashion strategy where it failed to compete with brands such as Zara and H&M. The company is now focusing on better-quality clothing that’s more expensive than fast-fashion apparel but more sustainable, ...

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H&M to exit Russia over current situation

  Bloomberg Swedish retailer Hennes & Mauritz AB will start winding down its operations in Russia, having halted all sales in the country in March after Russia’s attack on Ukraine. The Stockholm-based company expects to book costs of 2 billion kronor ($190 million) from the process, of which about 1 billion kronor will have a cash-flow impact, it said in ...

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