November, 2022

• 12 November

  Commodities surge after China eases some Covid curbs

  

    Bloomberg Commodities from oil to iron ore and copper jumped after China eased some Covid restrictions, raising hopes over a demand recovery in the world’s second-biggest economy. Almost all major commodities traded higher following news that China reduced the amount of time that travellers and close contacts of infected people must spend in quarantine, a significant amendment of the ...

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• 12 November

  Adani Green records 49% rise in Q2 profit

    Bloomberg Adani Green Energy Ltd. reported a 49% jump in its second-quarter profit on higher electricity generation, with the clean energy arm of billionaire Gautam Adani benefiting from India’s strong demand for power. Profit for the three months ended September climbed to 1.49 billion rupees from 1 billion rupees a year earlier, the company said in a stock exchange ...

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• 12 November

  Why Japan is gearing up for possible war with China

  

  If China were to attack Taiwan, it wouldn’t just have to face a hostile superpower. It would also likely have to confront its longstanding regional rival, Japan. For centuries, Japan and China have vied for hegemony in East Asia; at times, they have threatened each other’s survival. Today, as I found from three days of meetings with Japanese officials and ...

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• 12 November

  The BOE rate pivot sends a signal to ECB

  

  Winston Churchill’s words at the turning point of World War II in 1942 are an apt summary of where the Bank of England currently finds itself: “Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning.” And while the Federal Reserve remains committed to pushing borrowing ...

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• 12 November

  Liverpool ‘sale’ highlights soccer financial fickleness

    The mooted sale of Liverpool Football Club confirms an uncomfortable truth: No-one really makes any money owning a soccer club, they only profit from selling it. Fenway Sports Group Holdings LLC, which also owns Major League Baseball’s Boston Red Sox and the National Hockey League’s Pittsburgh Penguins, is exploring a sale of the English team. Liverpool could fetch more ...

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• 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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