Bloomberg As the aerospace world gathers in southern England next week for the first major commercial show since 2019, the stakes are particularly high for one half of the global planemaking duopoly. As ever, the spotlight at the Farnborough International Airshow will focus on the battle between Airbus SE and Boeing Co for orders, with rapid-fire, often last-minute announcements providing …

Bloomberg Burberry Group Plc held its medium-term forecast steady despite severe lockdowns in parts of China in April and May that hurt demand for luxury products. The British fashion brand continues to target high-single digit revenue growth and a 20% margin at a constant currency in the medium term, as it “actively manages” the impact of lockdowns in China and …

  Bloomberg Amazon.com Inc said it would create more than 4,000 new permanent jobs in the UK this year, the smallest number it’s announced in at least three years, despite planning to open two more fulfillment centers in the north of England. The new roles will span corporate, technology, as well as delivery and fulfillment positions, some of which will …

  Bloomberg Fast Retailing Co climbed the most in three months after projecting a record full-year profit on a weaker yen and as strong sales globally outweigh a China slump due to Covid Zero lockdowns. Shares of Uniqlo’s owner surged as much as 8.5% in Tokyo, the biggest intraday gain since mid-April, and were 8.4% higher. The Topix was little …

Bloomberg The share of US flight delays caused by airlines, as opposed to weather or air traffic control, has surged to the highest level on record, reflecting carriers’ struggle in the post-Covid rebound. Through April, airlines triggered about 58% of late flights so far in 2022, surpassing those that were tardy due to storms, the government’s air-traffic system and security …

  Bloomberg Morgan Stanley’s revenue from investment banking plummeted as capital markets seized up, underlining a slow quarter for Wall Street as a dour outlook for the economy muddles the path forward. The firm’s investment-banking group posted $1.07 billion in revenue, down 55% from a year earlier, a bigger decline than the 47% drop analysts had predicted. The bank also …

  Bloomberg The Bank of Korea (BOK) doubled the margin of its latest rate increase and promised more hikes to come, as it stepped up its battle against inflation now running at a 23-year high. The central bank joined a global wave of larger rate increases by pushing up its seven-day repurchase rate by a half-percentage point to 2.25% as …

  Bloomberg Argentina’s central bank is in talks with private lenders about adding a put option to its local bonds that would compel the monetary authority to buy back the notes if prices fall too far. Technical staff from private banks met with the central bank’s general manager, Agustin Torcassi, to discuss the possibility, according to people with direct knowledge …

  Bloomberg The money manager behind a Russia-focused ETF that collapsed after the country invaded Ukraine is warning that bank fees are “significantly eroding” what little of the fund’s value remains. VanEck said Citigroup Inc, JPMorgan Chase & Co. and Bank of New York Mellon are charging fees on Russian depository receipts that its Russia ETF (ticker RSX) primarily holds, …

  Bloomberg JPMorgan Chase & Co reported credit costs of $1.1 billion, with Chief Executive Officer Jamie Dimon describing mounting economic uncertainty even as he emphasized the bank is prepared for “whatever happens.” The $1.1 billion in provisions for credit losses included a $428 million build in reserves for loans that go sour and $657 million in net charge-offs, the …