November, 2022

• 12 November

  Xi Jinping needs to bring Jack Ma back into the fold

    China’s tech moguls have been walking on eggshells. Jack Ma, founder of Alibaba Group Holding Ltd. and the nation’s most prominent entrepreneur, disappeared from public view after delivering a speech on China’s state-dominated banking sector just over two years ago. His blunt criticism infuriated President Xi Jinping. The fallout has been severe. Beijing abruptly pulled the $35 billion IPO ...

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• 12 November

  Plane ticket bookings double in hour as China eases Covid rules

  

  Bloomberg Bookings for flights into China doubled in the hour after the government announced an easing of restrictions for inbound travellers, including shorter quarantine, Ctrip.com said. Inbound reservations on the online travel agent’s platform were twice as high as the same hour, while international flight searches increased 200%, according to a statement on Friday. Among other measures, mandatory hotel quarantine ...

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• 12 November

  Pilot complacency blamed for Indonesia jet crash that killed 62

  

  Bloomberg Sriwijaya Air Flight 182’s engine control system malfunctioned minutes after takeoff, leading to a crash that killed all 62 people on board in January last year, the Indonesian investigators concluded. Pilots failed to control the Boeing Co. 737-500 when one of its automated engine throttle levers began losing power, causing the plane to roll onto its side and plummet ...

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• 12 November

  Next buys collapsed UK furniture retailer Made.com for $3.9 million

  

    Bloomberg Next Plc has struck a deal with the insolvency administrators of Made.com Group Plc to buy the collapsed online furniture retailer for $3.9 million. Made.com confirmed it’s entered an insolvency process and has appointed PwC as administrator after struggling for survival for months amid falling demand and surging inflation. Next, which sells clothing and homewares, confirmed that it ...

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• 12 November

  M&S falls as food stores knocked by inflation, margins hit

  

    Bloomberg Britain’s surging inflation is squeezing profit margins at Marks & Spencer Group Plc’s (M&S) food division as the premium supermarket chain absorbs some cost increases to maintain sales. The business, which has been the company’s growth driver in recent years, was faced with 11% inflation in its cost of goods in the first half, while its online joint ...

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• 12 November

  Skymark Airlines to buy Boeing Max jets

    Bloomberg Skymark Airlines Inc plans to modernise its fleet by adding as many as 12 Boeing Co. 737 Max jets, while the once-bankrupt discount carrier will also list on the Tokyo Stock Exchange next month. The airline intends to order four Max aircraft and lease six more, it said in a joint statement with Boeing. It will also have ...

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• 12 November

  Ukraine troops enter Kherson in major setback for Putin’s forces

  

  Bloomberg Ukrainian troops entered the southern city of Kherson after Russian forces abandoned the regional capital and fled across a major waterway, a significant setback for Moscow as the two sides dig in for winter. Ukrainian military intelligence confirmed that the country’s troops were entering Kherson, which had been occupied by Russian troops since the first weeks of the war. ...

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• 12 November

  Russia, US to hold first nuclear talks since Ukraine war

  

    Bloomberg Russia said it will hold talks with the US from late November to early December in Cairo about inspections of atomic weapons sites under the New START treaty, a first step toward reviving broader arms-control talks suspended since the Russian invasion of Ukraine. The consultations in the Egyptian capital will last about a week, Russian Deputy Foreign Minister ...

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• 12 November

  US to brief Taiwan after Biden-Xi meeting, Sullivan says

  

  Bloomberg President Joe Biden’s top national security aide said the US will brief Taiwanese officials on the president’s upcoming meeting with China’s Xi Jinping and expressed confidence that Taipei would feel secure about its support from the US. “I’m confident that they will feel very secure and comfortable in the United States, his position when it comes to our support ...

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• 12 November

  South Korea says not sending Ukraine arms

  

    Bloomberg South Korea’s military said the country has maintained its position of not sending lethal arms to Ukraine, after the Wall Street Journal reported Seoul struck a secret deal with the US that would supply Kyiv with artillery. The Defense Ministry said in a text message sent to reporters Friday negotiations are underway between a South Korean company and ...

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