Bloomberg Dozens of Swiss banks are facing a preliminary investigation by the nation’s competition watchdog on suspicion lenders colluded to limit the pay of junior recruits in one of Europe’s biggest financial centers. “It concerns the market for young talent,” Patrik Ducrey, the director of Switzerland’s Competition Commission said in a telephone interview. “We have indications employers are talking …

  Bloomberg In the Federal Reserve’s quiet period before its officials meet to decide their final actions this year, Wall Street watchers are filling the void, loudly warning that next year’s outlook for the US economy and stocks is grim. From Goldman Sachs group’s David Solomon caution that the economy faces “bumpy times ahead,” to JPMorgan Chase & Co.’s Jamie …

  Bloomberg Order has been restored to the world for bearish traders, with their favorite targets under pressure again after surging during the recent equity rally. Stocks with the heaviest short interest dropped 3.5%, more than double the losses in the S&P 500, going by thematic baskets compiled by Goldman Sachs In what may be a sign bears are reloading, …

  Geneva / WAM The global aviation sector is set to return to profitability next year for the first time since the coronavirus pandemic broke out in Europe at the beginning of 2020, the International Air Transport Association (IATA) reported in Geneva. In statement carried by Deutsche Presse-Agentur (dpa), the IATA estimated total profit at some $4.7 billion is expected …

  Bloomberg Lenders to bankrupt Jet Airways India Ltd are resisting a court-approved resolution plan, further delaying the former No. 1 private airline’s return to the skies, according to people familiar with the matter and email communications seen by Bloomberg News. The primary dispute is about whether the new owners of Jet Airways need to pay more money into the …

  Bloomberg Wall Street analysts are boosting price targets for Lululemon Athletica Inc before the company reports earnings on Thursday, predicting that brand loyalty for the maker of pricey yoga and exercise apparel will help the stock build on a two-month rally that’s erased most of its 2022 losses. At Cowen, John Kernan lifted his call on Lululemon to $542 …

  Bloomberg China’s top air-cargo carrier is joining an online booking platform that’s revolutionising a $200 billion global market the way websites like Travelocity and Expedia digitised flight transactions for passengers more than two decades ago. Freightos Group announced that the air-logistics arm of China Southern Airlines Co will offer real-time rates, capacity and bookings on WebCargo, a Barcelona-based unit …

  Bloomberg Paris reopened its most iconic airport terminal as France prepares to welcome millions of visitors for the 2024 summer Olympics while the travel industry struggles to recover from the fallout of the pandemic. Aeroports de Paris, which operates Charles de Gaulle airport, spent €250 million ($263 million) on works that lasted more than two years and created an …

  Bloomberg Russian tourists are once again traveling in large numbers to Thailand via chartered flights and using credit cards issued outside the country to get around payment difficulties, turbo-charging a gradual tourism recovery in the Southeast Asian nation. More than 44,000 Russians visited Thailand in October, compared with less than 10,000 each in the months following the start of …

  Bloomberg J Sainsbury Plc is investing an extra £50 million ($61 million) to keep prices down as the cost-of-living crisis grows in the UK. As part of the latest push, more than £15 million is targeted to make shoppers’ Christmas spend more affordable, for example with ingredients for a roast dinner at less than £4 a person. Shoppers are …