January, 2023

• 16 January

  Bed Bath & Beyond triples as retail traders fuel latest burst

  

    Bloomberg Bed Bath & Beyond Inc. continued to surge, rising for a fourth day and hitting the highest level since early November, after the company’s bankruptcy warning reignited interest from retail traders. Shares in the home-goods retailer climbed as much as 29%, adding to 166% gains from the previous three sessions. Other so-called meme stocks also added to gains. ...

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• 16 January

  Delta’s profit outlook misses estimates as labour costs climb

  

  Bloomberg Delta Air Lines Inc. forecast first-quarter profit short of Wall Street’s estimates, dragging down the carrier’s shares as higher costs deal a blow to its efforts to further capitalise on a rebound in air-travel demand. Adjusted earnings will be 15 to 40 cents a share in the period, the airline said in a statement that also detailed fourth-quarter results. ...

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• 16 January

  China’s two state-owned airlines to delist in New York, joining exodus

  

  Bloomberg Two of China’s largest state-owned airlines said they would give up their New York stock exchange listings, joining a raft of government controlled firms that announced their departures from US bourses last year. China Eastern Airlines Corp. and China Southern Airlines Co. stated in separate filings their intentions to apply to voluntarily delist their American depositary shares listed on ...

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• 16 January

  Amazon HR staffers turn from hiring to seeking jobs themselves

  

  Bloomberg With job cuts mounting across tech, finance and other industries, why wait to get fired when you can skip directly to being hired? The move, called “career cushioning,” involves lining up a plan B while still fully employed, especially when job cuts are imminent. This is usually done discreetly — perhaps a networking call taken during lunch, or taking ...

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• 16 January

  Wendy’s holder drops takeover push

    Bloomberg Wendy’s Co.’s largest shareholder, Trian Fund Management LP, said it won’t pursue a deal for the company after signs that the business is improving. Trian said in a filing that it informed Wendy’s board that it wouldn’t propose a transaction at this time. The firm believes in the future of Wendy’s and is “confident in the company’s growth ...

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• 16 January

  European assets now all the rage as US markets sputter

  

    Bloomberg After years of playing second fiddle to the US, European assets are now charging ahead and leaving Wall Street in the dust. Euro-area equity markets are up 38% since the end of September in US dollar terms, and enjoying their best start to a new year ever. Meanwhile, the region’s investment-grade credit is ahead of its US peers ...

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• 16 January

  Poland expects to get EU recovery funds in second half of 2023

    Bloomberg Poland expects to obtain a first tranche of European Union aid in the second half of this year, Premier Mateusz Morawiecki said on Saturday. A bill that promises to give the government access to €35.4 billion ($38.3 billion) in post-pandemic funding cleared its first hurdle on Friday after the ruling party secured a majority in parliament to push ...

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• 16 January

  UK gives rail firms permission to make new offer to unions

  

    Bloomberg UK Transport Secretary Mark Harper has given rail companies permission to make a new offer to unions this week in a bid to ending strikes. A “revised mandate” had been given to rail companies to go into negotiations in the coming days and it’s important to give the two sides space “to try and reach a conclusion,” Harper ...

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• 16 January

  US household formation late last year seen slowing further

  

  Bloomberg High inflation, rising interest rates and increased economic uncertainty may be telegraphing a further slowdown in US new household formation during the closing months of 2022. A slowdown in home sales due to high mortgage rates, coupled with the latest figures from RealPage Market Analytics that show a sharp decline in apartment demand — the first since 2009 — ...

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• 16 January

  China’s imports of ICs fall in two decades

    Bloomberg China’s imports of integrated circuits declined in 2022 for the first time in almost two decades. Imports of ICs fell 15% last year to 538.4 billion units from 635.6 billion units in 2021, according to data from General Administration of Customs released Friday. That’s the first annual drop since at least 2004 when Bloomberg started tracking the data. ...

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