November, 2022

• 15 November

  The banking market where profits are guaranteed

    At the heart of banking regulation sits a tradeoff between competition and financial stability. Competition allows consumers access to better prices and better products. But it can also encourage banks to do wayward things, often at the expense of soundness. Faced with the choice, regulators typically come down on the side of safety. Regulators in Ireland have adopted this ...

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• 15 November

  Bankman-Fried needs a miracle to rescue FTX

    Collapsed cryptocurrency exchange FTX was a magnet for the so-called smart money. Backers included the biggest names in finance and venture capital, from BlackRock Inc. to SoftBank Group Corp. to pension funds. Even after this summer’s crypto crash, Ontario Teachers Pension Plan described its investment in the firm as “lowest-risk” — because it was the venue where “everybody else” ...

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• 15 November

  Cathay Pacific shuts US base, airline’s last overseas outpost

  

    Bloomberg Cathay Pacific Airways Ltd closed its last overseas outpost, bringing some US-based pilots back to Hong Kong as the airline trims expenses after being hit hard by the pandemic. Cathay’s US pilot bases shut on October 31 and some crew will relocate to Hong Kong in the coming weeks, according to an internal memo seen by Bloomberg News. ...

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• 15 November

  Asda sales jump as cheap range attracts strapped customers

  

    Bloomberg Asda reported a rebound in sales after two straight quarters of declines as the grocer focused on keeping prices low in a bid to win cash-strapped shoppers. Britain’s third-largest supermarket chain said sales grew 4.7% in the third quarter as the grocer’s Just Essentials budget range helped attract 400,000 new customers from rival supermarkets. The average UK household ...

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• 15 November

  Jet Air’s new owner says probe into executive isn’t an obstacle

  

    Bloomberg The investigations into Florian Fritsch, one of the two executives seeking to get bankrupt Jet Airways India Ltd. back in the air through a bankruptcy process, will not affect the rescue plan for the airline, according to his firm. “These investigations have no impact on the acquisition of Jet Airways,” Kalrock Capital Partners, Fritsch’s investment company said in ...

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• 14 November

  Thai Airways scraps plan to sell old jets on strong demand

  

    Bloomberg Thai Airways International PCL is bringing back almost half a dozen aircraft originally put up for sale in an effort to revive flights more quickly amid buoyant demand. The global air travel recovery from Covid has put a squeeze on newer planes that are available on the open market, Chairman Piyasvasti Amranand said in an interview at the ...

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• 14 November

  Frasers in talks to acquire UK tailor Gieves & Hawkes

  Bloomberg Mike Ashley’s Frasers Group Plc is in talks to buy Savile Row tailor Gieves & Hawkes, according to a person familiar with the matter. Gieves & Hawkes was put up for sale in July after its owner, Hong Kong-listed Trinity Ltd., entered liquidation last year. A deal would add one of the best-known names in British tailoring to Frasers’ ...

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• 14 November

  Blue Apron sinks on plan to sell $30m shares

    Bloomberg Blue Apron Inc fell to a fresh low after the ailing meal-kit delivery platform said it may offer up to $30 million in new shares. The at-the-market offering would further erode the value of existing shares, which have lost more than 80% of their value this year. The stock falls 33% to $1.17. Blue Apron said its filing ...

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• 14 November

  Biden, Xi chart path to warmer ties with Blinken China visit

  

    Bloomberg Joe Biden and Xi Jinping agreed to a series of goodwill gestures intended to improve ties between their countries after the first in-person meeting between the leaders of the US and China since the pandemic began. The two men met for about three hours on the sidelines of the Group of 20 summit in Bali, Indonesia, greeting each ...

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• 14 November

  Ex-PM Khan seeks balanced Pakistan ties with US, China

  

    Bloomberg Pakistan’s former prime minister Imran Khan said he wants to have good relations with the US, a country that he’s blamed for months of colluding with his successor to oust him from office in April. “We want good relations with China, Russia and the US,” Khan told his supporters in a video-taped address as they marched to the ...

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