Bloomberg SpiceJet Ltd staged one of global aviation’s most remarkable turnarounds in 2015 after founder Ajay Singh swept in at the eleventh hour to rescue it. Less than a decade later, the Indian budget airline needs a revival of fortunes again. Once an investor darling, SpiceJet is now the worst-performing airline stock in Asia, fighting a run of negative ...

  Bloomberg Snarls along the aviation supply chain may make it a challenge for Embraer SA to meet its year-end commercial delivery targets, the Brazilian aerospace manufacturer said. “We are suffering with these supply chain constraints. We had a difficult first half,” Chief Executive Officer Francisco Gomes Neto said in an interview with Bloomberg. “We’re doing everything we can to ...

  Bloomberg Esprit Holdings Ltd, the once high-flying Hong Kong fashion retailer before it tumbled into years of losses, is planning a comeback in Asia, pivoting away from a fast-fashion strategy where it failed to compete with brands such as Zara and H&M. The company is now focusing on better-quality clothing that’s more expensive than fast-fashion apparel but more sustainable, ...

  Bloomberg Swedish retailer Hennes & Mauritz AB will start winding down its operations in Russia, having halted all sales in the country in March after Russia’s attack on Ukraine. The Stockholm-based company expects to book costs of 2 billion kronor ($190 million) from the process, of which about 1 billion kronor will have a cash-flow impact, it said in ...

Bloomberg Russian Defense Minister Sergei Shoigu ordered part of his forces to focus on destroying Ukraine’s long-range missile and artillery systems during a visit to troops in occupied territory. Shoigu “instructed the commander to prioritize the defeat of long-range rocket and artillery weapons of the enemy with high-precision weapons” during a meeting with the military’s Vostok group, the Russian Defense ...

Bloomberg Sri Lanka will this week elect a new president, who would need the support of both lawmakers and protesters in order to pull the bankrupt country out of its worst economic crisis. Legislators in the 225-seat parliament will on Tuesday submit nominations for the post, left vacant after President Gotabaya Rajapaksa fled to Singapore and resigned. Voting is due ...

  Bloomberg Former Pakistan premier Imran Khan called for early national elections after his party swept the by-elections in the country’s most populous state, underscoring the risks the government faces as it seeks a bailout from the International Monetary Fund. Khan was ousted in April following a protracted political drama that saw Shehbaz Sharif take over as prime minister. Since ...

Bloomberg Clear dividing lines over the economy emerged as the UK’s leadership race turned personal in the second of three debates to determine who will succeed Boris Johnson as prime minister. Front-runner and former Chancellor Rishi Sunak accused Foreign Secretary Liz Truss and former Defence Secretary Penny Mordaunt, his two closest rivals, of “socialism” as he attacked their plans to ...

  Bloomberg Bulgaria’s president will give the Socialist Party a mandate to form a new government in a last-ditch bid to avoid triggering the fourth election in less than two years. It’s the European Union member’s final chance to quickly quell a political crisis that ousted Prime Minister Kiril Petkov’s four-party coalition in a no-confidence motion last month. But the ...

  Bloomberg China’s central bank injected additional liquidity into the financial system for the first time since June as a growing mortgage-payment boycott and a virus flareup leads to a sense of crisis. The People’s Bank of China (PBOC) boosted the size of its daily short-term cash operation to 12 billion yuan ($1.8 billion) from 3 billion yuan, resulting in ...