December, 2022

• 29 December

  Credit market cracks widen as distressed debt nears $650b

  

    Bloomberg Multiple stress points are emerging in credit markets after years of excess, from banks stuck with piles of buyout debt, a pension blow-up in the UK and real-estate troubles in China and South Korea. With cheap money becoming a thing of the past, those may just be the start. Distressed debt in the US alone jumped more than …

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• 29 December

  Argentina must avoid ‘hot money’ pitfall: Economist

  

    Bloomberg An Argentine economist drafting recommendations for a more business-friendly government that could emerge from 2023 elections has a message for foreign investors eyeing potential regime change. “We’re not interested in hot money in Argentina,” Carlos Melconian, head of think tank Ieral, said. “Capital inflows that create quick profits and get confounded with the element of confidence don’t interest …

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• 29 December

  Deep slump in kwacha may prompt Zambia rate hike

    Bloomberg A sharp slump in the kwacha that’s placing upward pressure on inflation may prompt monetary policymakers to raise interest rates for the first time in more than a year when they meet in early 2023. Consumer prices rose an annual 9.9% this month, compared with 9.8% in November, interim Statistician-General Mulenga Musepa told reporters in the capital, Lusaka. …

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• 29 December

  US futures advance as tech stocks rally; dollar declines

  

    Bloomberg US equity-index futures gained on Thursday as technology shares rallied on the penultimate trading day of what’s been a brutal year for financial markets. Contracts on the tech-heavy Nasdaq 100 rose more than 0.6% following gains for Asian technology stocks earlier amid signs China is easing a regulatory crackdown. Contracts on the S&P 500 were up about 0.3%. …

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• 29 December

  Big Oil and tanks top Europe’s stock markets in 2022, real estate lags

  

    Bloomberg Beset by war, soaring costs and higher interest rates, 2022 was a year many European companies — and stock market investors — would prefer to forget. Carefully crafted investment strategies were thrown into disarray, first by Russia’s invasion of Ukraine and the subsequent energy crisis, then by surging borrowing costs that lifted Germany’s 10-year bond yield, Europe’s benchmark, …

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• 28 December

  Airlines face huge shortage of planes as travel roars back

  

    Bloomberg As travel springs back and even China dismantles the last remaining Covid curbs, one stark truth is beginning to emerge — the world is running desperately short of planes. With carriers from United Airlines Holdings Inc to Air India Ltd placing, or looking to place, jet orders that number in the hundreds, Boeing Co and Airbus SE are …

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• 28 December

  KFC’s South Africa unit to shut some outlets due to Eskom’s power cuts

  

    Bloomberg KFC is temporarily closing some of its fried-chicken outlets in South Africa due to power cuts imposed by state electricity provider Eskom Holdings SOC Ltd. The Yum! Brands Inc chain made the decision after the number of blackout days passed 200 this year, a record. Eskom supplies more than 90% of South Africa’s electricity and has implemented nationwide …

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• 28 December

  UK Boxing Day shopping spree offers retailers temporary relief

  

    Bloomberg The rush to take advantage of post-Christmas sales lifted shopper numbers on Boxing Day, but with the cost-of-living crisis pushing UK consumers to cut back on spending any boost for retailers may prove short-lived. Retail tracker Springboard said Boxing Day shopper numbers rose 39% on 2021, when there were still some pandemic restrictions in place and limited trading …

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• 28 December

  Southwest memos show growing alarm before storm hit

  

    Bloomberg As a winter storm bore down on a broad swath of the US, a staffing crisis was brewing for Southwest Airlines Co in Denver. Chris Johnson, the carrier’s vice president of ground operations, declared a “state of operational emergency” at the airport after “an unusually high number” of employee absences, according to a message to ramp workers seen …

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• 28 December

  US considers Covid prevention plans for travellers from China

    Bloomberg The US is considering taking new coronavirus precautions for people travelling from China, which has seen a rapid rise in infections as officials lift Covid Zero restrictions. US officials said the government is concerned about the surge of cases in China, and has raised questions about the transparency of data the country is reporting about the spread of …

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