Bloomberg The Bank of Spain more than doubled its forecast for inflation next year but still sees it easing sharply after that to well below the 2% goal for the euro zone. The central bank raised its outlook for annual price increases to 3.7% in 2022 and then slightly reduced the projection for the following year to 1.2%. Inflation …

  Bloomberg Traders are betting the Bank of England will look through risks from the omicron strain to hike its key interest rate above 1% next year for the first time since 2009. Money markets are now pricing 100 basis points of policy tightening from the UK central bank in Dec. 2022, according to sterling overnight index swaps. That would …

  Bloomberg The Hungarian central bank raised effective interest rates for the sixth time in as many weeks to stem accelerating inflation. A day after Prime Minister Viktor Orban announced a freeze on mortgage rates — which will act as a break on monetary tightening from the central bank — policy makers raised the one-week deposit rate by 20 basis …

  Bloomberg A Chinese proverb goes, “If you have guanxi (relations) with very important people, all your troubles will go away, but if you don’t have any guanxi with any VIP, your troubles will continue to haunt you.” Carmakers seem to be embracing the proverb as they continue to confront and struggle with the persistent chip shortage that’s expected to …

  Bloomberg Hyundai Motor Co will expand its lineup to six battery-electric vehicles in India by 2028, as the South Korean carmaker tries to seize first-mover advantage in the growing market. The vehicles will comprise different styles, including SUV, and will cater to segments including the mass market and mass premium, the company said in a statement. Hyundai, which currently …

  Bloomberg Tesla Inc has agreed to take the majority of battery-ready graphite from a production facility planned in Louisiana, as it races to secure supplies of the key material in a market dominated by China. Melbourne-based Syrah Resources Ltd will supply Elon Musk’s company with graphite anode material for an initial four years, with an option to buy additional …

  Bloomberg Apple Inc temporarily shuttered at least eight retail stores in US and Canada over the past day as Covid-19 cases surged among the public and employees. Apple, based in Cupertino, California, typically shuts down a retail store when around 10% of staff members test positive for Covid-19. Such closures have become increasingly routine in recent weeks. Before the …

  Bloomberg Chanel has raised global prices on some of its classic handbags by almost two-thirds since the end of 2019. A spokeswoman said the hikes are in response to unspecified exchange-rate fluctuations, changes in production costs and to ensure its handbags cost roughly the same around the world. But luxury-sector executives and analysts say the magnitude of the increases …

  Bloomberg Discount carrier Wizz Air Holdings will increase its presence in the UK after agreeing to buy takeoff and landing slots from Norwegian Air Shuttle ASA at London’s Gatwick hub. Budapest-based Wizz will acquire 15 daily slot pairs at Gatwick, where operations are restricted by a single runway, allowing it to base four more jets there next summer for …

  Bloomberg Embraer SA’s Eve Urban Air Mobility unit will merge with Zanite Acquisition Corp next year, the latest in a string of deals as flying-taxi startups seek capital from public markets. The transaction includes $237 million in cash from Zanite, a special purpose acquisition company, and a $305 million PIPE, or private investment in public equity. The PIPE has …