March, 2023

• 30 March

  Lululemon rises after annual outlook exceeds expectations

  

  BLOOMBERG Lululemon Athletica Inc shares jumped after the company gave an annual outlook that surpassed analysts’ expectations, driven by high demand for activewear, even as it deals with nagging inventory issues that ate into margins. The stock rose 16% in early trading in New York. If the gain holds, it would be Lululemon’s biggest rise since March 2020. The retailer ...

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• 30 March

  Ryanair resumes talks with Boeing for 200-plane fleet

  

  BLOOMBERG Ryanair Holdings Plc has entered talks with Boeing Co for an order of as many as 200 narrow-body aircraft, in negotiations that stand to last 6-12 months, Chief Executive Officer Michael O’Leary said. The discount carrier has resumed talks with Boeing for the order, with potential delivery slated for the period between 2027 and 2031, O’Leary said in Brussels ...

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• 30 March

  Hong Kong chain Sa Sa raises doubts over tourism revival

  

  BLOOMBERG Hong Kong’s biggest cosmetics chain plans to open just a handful of new stores this year after shutting dozens during the pandemic as doubts remain that the city will return to its pre-Covid heights as a shopping paradise. The cautious outlook from Sa Sa International Holdings Ltd reflects broader pessimism over the pace of the financial hub’s economic recovery ...

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• 30 March

  US futures, European stocks rise as traders eye peak rates

  

  BLOOMBERG US equity futures climbed on investor bets that a peak in interest rates is near and bank turmoil will ease further. European stocks rose and the dollar declined in the risk-on mood. S&P 500 contracts and those on the tech-heavy Nasdaq 100 advanced at least 0.5% after an earlier rally that pushed the latter into a bull market. Retail ...

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• 30 March

  Tech set for one of its best quarters, thanks to Federal Reserve

  

  BLOOMBERG The Nasdaq 100 is heading for its second-best quarter in a decade  — and it has the Federal Reserve’s recent largess to thank for its gains. The tech gauge soared 17% in the first quarter, buoyed by the Fed’s loosening of its balance sheet after Silicon Valley Bank’s (SVB) collapse earlier this month led to worries about monetary conditions ...

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• 30 March

  CEOs possess poor view of Britain, says pharma lobby head

  

  BLOOMBERG Britain’s ambition to become a “science superpower” will fail unless the government reverses the country’s reputation as a poor place to invest, the head of the UK’s biggest pharmaceutical lobby group has warned. “I’m very concerned about the sentiment towards the UK among global leadership right now,” Richard Torbett, chief executive officer of the Association of the British Pharmaceutical ...

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• 30 March

  US, EU near critical minerals accord to unlock US subsidies

  

  BLOOMBERG The European Union (EU) and the US are nearing an agreement on critical minerals that would provide EU companies access to some of the massive green subsidies offered in President Joe Biden’s Inflation Reduction Act (IRA). The deal will likely be similar to an agreement the US signed with Japan that also included a commitment to not impose restrictions ...

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• 30 March

  Porsche wins ruling in Stuttgart investor suit

  

  BLOOMBERG Porsche Automobil Holding SE won a crucial ruling in a €900 million ($976 million) class-action style lawsuit from investors who claimed the company should have warned shareholders about the diesel-emission software rigging at Volkswagen AG. The Stuttgart Higher Regional Court said the company didn’t fail to inform markets about the use of a defeat device at Volkswagen long before ...

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• 30 March

  Google’s India antitrust fine stays, with some concessions

  

  BLOOMBERG An India appeals court upheld a fine of about $160 million slapped on Alphabet Inc’s Google by the country’s antitrust regulator, amid growing scrutiny over the company’s ambition to expand the global reach of its Android mobile operating system. Yet in a relief for Google, the court allowed some concessions to corrective measures the antitrust regulator had sought. The ...

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• 30 March

  UAE President issues Emiri decree restructuring Abu Dhabi Executive Council

  

  ABU DHABI / WAM His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, in his capacity as Ruler of Abu Dhabi, has issued an Emiri decree restructuring the Executive Council of Abu Dhabi under the chairmanship of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, the Crown Prince of Abu Dhabi. The decree stipulates the ...

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