Bloomberg United Airlines Holdings Inc has quietly divested its stake in the parent company of former regional carrier ExpressJet Airlines Inc, according to people familiar with the matter. United had maintained a 49.9% position in ManaAir after shuttering ExpressJet’s regional feed operations almost two years ago after the onset of the Covid-19 pandemic. ExpressJet, which has an operating certificate …

  Bloomberg Walmart Inc is seeking UK retailers to join its online marketplace in an attempt to give British businesses another e-commerce alternative to Amazon and EBay. Approved British sellers will be able to sell their goods on Walmart.com, which is visited by more than 120 million people every month, the US shopping giant said in a statement. In a …

  Bloomberg A break up of HSBC Holdings Plc’s Asian unit could unlock $26.5 billion, or about a fifth of its current market value, according to research that could support a push from its largest shareholder to overhaul the bank. Two other scenarios that could benefit shareholders are for HSBC to spin off the Asian business or just its Hong …

  Bloomberg The yen falls to a 24-year low and Japanese bonds tumbled, prompting a warning from the Bank of Japan (BOJ) as its easy monetary policy increasingly feels strain of rising interest rates globally. The currency falls more than 0.5% to 135.19 per dollar, the lowest since October 1998, as Treasury yields extended inflation-shock driven gains and the Bank …

  Bloomberg Six-year-old biotech startup MegaRobo Technologies has raised about $300 million from investors including an arm of Goldman Sachs Group Inc, securing one of the year’s largest Chinese venture capital investments despite a global tech sector rout. Goldman’s private investing arm, venture capital firm GGV Capital and Asia Investment Capital led the Series C round, joined by existing backers …

  Bloomberg The Bank of England (BOE) is expected to raise interest rates faster and further than anticipated a month ago as it battles highest inflation in decades. The central bank, which had been expected to pause after hiking to 1.5%, is now predicted to lift the benchmark cost of borrowing to 2% by this time next year, according to …

  Bloomberg Canadian Imperial Bank of Commerce (CIBC) is boosting its minimum wage and pledging to push it even higher in the next few years as tight labour markets force banks into fierce competition for workers. The lender’s minimum wage will rise to C$20 per hour in Canada and $20 in the US in July, and the bank is committing …

Bloomberg China’s central bank abstained from cutting a key policy interest rate, avoiding further policy divergence from the US that could add pressure on the yuan. The People’s Bank of China (PBOC) kept the rate on its one-year medium-term lending facility at 2.85% on Wednesday, in line with most forecasts in a Bloomberg survey of economists. The PBOC also rolled …

  Bloomberg European stocks rallied after their longest slump since March 2020 as the European Central Bank (ECB) announced an emergency meeting “to discuss current market conditions” and ahead of the Federal Reserve rates decision. The Stoxx Europe 600 rises 1.1% at 9:45 am in London. Italy’s FTSE MIB index was up 3%, led by banks, while Italian bonds surged …

  Bloomberg Bitcoin prices tumbled once again, driving the token to the brink of $20,000 on evidence of deepening stress within the crypto industry. The largest cryptocurrency sank 8% to $20,180, the lowest level since December 2020. Bitcoin has fallen for nine days, the longest losing streak since 2014. Losses continued to be widespread, with Ether plunging 10% to $1,062. …