Bloomberg The yuan fell, an indication that China’s latest attempts to beef up the currency with a record pushback in the reference rate and verbal warnings is barely holding back a selling wave. The People’s Bank of China (PBOC) fixed the yuan at 6.9396 per dollar, 647 pips stronger than the average estimate in a Bloomberg survey of analysts …

Bloomberg President Joe Biden said he warned Chinese President Xi Jinping it would be a “gigantic mistake” to violate sanctions imposed on Russia, but that there’s been no indication that Beijing has provided weapons to Moscow for its invasion of Ukraine. Biden, according to excerpts from an interview with CBS’s “60 Minutes” airing Sunday, said he spoke with Xi shortly …

  Bloomberg France denied a report that it’s considering cutting power exports to Italy, saying it’s committed to maintaining power supply to its European neighbours. France “reaffirms its commitment to reciprocal solidarity regarding gas and electricity with all our European neighbours,” the energy transition ministry said in a statement. “Fully functioning electric interconnections are a priority for collective supply security.” …

  Bloomberg FedEx Corp’s profit warning this week hit a nerve with global markets already jittery over the state of the economy. Shares of the delivery giant sank 21% last week, wiping out $11 billion in market value, and dragging the broader market to its worst week since June, as the results fuelled concern of weaker e-commerce and business-to-business activity. …

Bloomberg Senator Elizabeth Warren urged federal airline regulators to block JetBlue Airways Corp’s proposed merger with Spirit Airlines Inc. by invoking a rarely used authority from the 1950s to argue that the $3.8 billion deal isn’t “consistent with the public interest.” In a letter to Transportation Department Secretary Pete Buttigieg, Warren, a Massachusetts Democrat, said the agency could use its …

  Bloomberg Virgin Australia is reluctant to resume long-haul services even as demand for international travel soars, Chief Executive Officer Jayne Hrdlicka said, as the airline seeks to rein in costs and prepares for an initial public offering as soon as next year. “Anything that we did from a long-haul standpoint would have a very high hurdle on it,” Hrdlicka …

  Bloomberg US aviation regulators struck back at major carriers’ reliability after the head of United Airlines Holdings Inc called the government’s air-traffic system “by far the No. 1” cause of flight delays. United Chief Executive Officer Scott Kirby made the comments in Washington during a conference. Within hours, the Federal Aviation Administration (FAA) issued a statement, including a chart …

  Bloomberg Amazon.com Inc will let brands and merchants send marketing emails to shoppers, a risky bid to boost sales that could inundate inboxes with spam. The company announced the initiative at the Amazon Accelerate conference in Seattle, where it demonstrates new features to the independent businesses that sell more than half of the products on Amazon.com. Merchants will be …

  Bloomberg Cathay Pacific Airways Ltd expects to fly one-third of its pre-Covid capacity by the end of the year, up from 25% previously projected as Hong Kong gradually loosens restrictions on travel, including lengthy mandatory quarantine stays. The recovery will take time as Hong Kong’s main airline returns its fleet to service and trains staff after operating at as …

Bloomberg As the latest iPhone hit stores, Apple Inc is counting on well-heeled shoppers to make the device a hit during a year of roaring inflation and shaky technology spending. The iPhone 14 lineup reserves the best features for the high-end Pro models costing at least $1,000. And based on preorder data, the strategy is already working with consumers, who …