Bloomberg Cathay Pacific Airways Ltd closed its last overseas outpost, bringing some US-based pilots back to Hong Kong as the airline trims expenses after being hit hard by the pandemic. Cathay’s US pilot bases shut on October 31 and some crew will relocate to Hong Kong in the coming weeks, according to an internal memo seen by Bloomberg News. ...

  Bloomberg Asda reported a rebound in sales after two straight quarters of declines as the grocer focused on keeping prices low in a bid to win cash-strapped shoppers. Britain’s third-largest supermarket chain said sales grew 4.7% in the third quarter as the grocer’s Just Essentials budget range helped attract 400,000 new customers from rival supermarkets. The average UK household ...

  Bloomberg The investigations into Florian Fritsch, one of the two executives seeking to get bankrupt Jet Airways India Ltd. back in the air through a bankruptcy process, will not affect the rescue plan for the airline, according to his firm. “These investigations have no impact on the acquisition of Jet Airways,” Kalrock Capital Partners, Fritsch’s investment company said in ...

  Bloomberg Thai Airways International PCL is bringing back almost half a dozen aircraft originally put up for sale in an effort to revive flights more quickly amid buoyant demand. The global air travel recovery from Covid has put a squeeze on newer planes that are available on the open market, Chairman Piyasvasti Amranand said in an interview at the ...

Bloomberg Mike Ashley’s Frasers Group Plc is in talks to buy Savile Row tailor Gieves & Hawkes, according to a person familiar with the matter. Gieves & Hawkes was put up for sale in July after its owner, Hong Kong-listed Trinity Ltd., entered liquidation last year. A deal would add one of the best-known names in British tailoring to Frasers’ ...

  Bloomberg Blue Apron Inc fell to a fresh low after the ailing meal-kit delivery platform said it may offer up to $30 million in new shares. The at-the-market offering would further erode the value of existing shares, which have lost more than 80% of their value this year. The stock falls 33% to $1.17. Blue Apron said its filing ...

Bloomberg The European Central Bank (ECB) will probably receive several hundreds of billions of euros in early repayments of long-term loans this year after officials toughened the terms of the program to aid their fight against inflation. Estimates vary widely on how much of the €2.1 trillion ($2.2 trillion) in outstanding cash will be returned this month, the first available ...

Bloomberg Japan’s biggest banks announced plans to boost shareholder returns, including buybacks of as much as $2.5 billion as global rates hikes spurred an increase in income from loans that helped earnings beat analyst estimates. Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. both said they will buy back shares while Mizuho Financial Group Inc. upped a ...

Bloomberg HSBC Holdings Plc has big plans to ramp up in Singapore to build up international corporate and wealth banking as it expands its Asia footprint outside its regional hub in Hong Kong. As he opened a new Singapore headquarters on the top floors of 50-story Marina Bay Financial Centre Tower 2, Chief Executive Officer Noel Quinn said the city ...

  Bloomberg Credit Suisse Group AG investors should brace for billions of dollars in losses before the troubled Swiss lender’s sweeping restructuring plan eventually leads to modest profitability in 2025 — and that’s only if it can overcome steep risks, according to Moody’s Corp. The ratings agency said that the Swiss bank’s plan entails elevated restructuring and remediation costs, as ...