October, 2022

• 19 October

  Banks should send Powell a thank-you note

  

    Shareholders and chiefs of America’s big banks should get some thank you cards over to Jerome Powell. The Federal Reserve’s interest rate increases have delivered a huge boost to revenue for Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co. so far this year without – as yet – causing any problems for borrowers. Okay, the residential ...

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• 19 October

  Forget overkill. Central banks still way behind

    Expectations of how much central banks will push interest rates higher to get inflation under control have increased to such an extent that some are starting to talk about overkill. Markets now think that benchmark rates in the US will top out at about 4.7% (from 3.25% now), 3% in the euro zone (from 1.25%), and 5.8% in the ...

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• 19 October

  No respite for the Federal Reserve on high inflation

    If the Federal Reserve was hoping for some sign that inflation is subsiding, it was cruelly disabused by the latest figures for consumer prices. The headline rate fell back slightly in September, from 8.3% to 8.2%, but the more telling measure of core inflation, which excludes the cost of food and energy, reached the highest rate in 40 years, ...

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• 19 October

  China’s biggest airlines plan more international flights

  

    Bloomberg China’s biggest airlines are planning more international flights, a sign the government is aware of the country’s growing isolation as it persists with lockdowns and mass testing internally — hallmarks of its Covid Zero policy. China Eastern Airlines Corp., which was severely impacted by virus lockdowns in Shanghai, will operate 108 international flights a week from October 30 ...

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• 19 October

  Bill Gates-led fund to make green jet fuel as cheap as fossil fuels

  

  Bloomberg The burgeoning market for sustainable jet fuel will soon reach a milestone, with a plant capable of turning out for the first time a lower-emission fuel at the same price as fossil fuel-based options. But this price parity will only come as result of a $50 million grant from Bill Gates-led Breakthrough Energy, alongside support from discounted loans and ...

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• 19 October

  Boeing offers 737 Max jets slated for Chinese customers to Air India

  

    Bloomberg Boeing Co. is offering 737 Max jets once slated for Chinese customers to Air India Ltd. as the plane-maker tries to offload some of the roughly 140 aircraft it’s currently not allowed to deliver. The Indian carrier, which is overhauling its fleet under new owner Tata group, is one of a number of potential customers for Boeing, which ...

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• 19 October

  Nestle pushes through largest price hikes in decades

  

  Bloomberg Nestle SA Chief Executive Officer (CEO) Mark Schneider said inflation will remain an issue in 2023 even after the world’s largest food maker pushes through the biggest price increases in decades this year. “This is a situation no one wished for,” CEO Mark Schneider said in an interview with Bloomberg Television. “We are seeing huge upward pressure on energy, ...

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• 19 October

  Beauty giant Natura weighs Aesop IPO

    Bloomberg Brazilian cosmetics maker Natura &Co is assessing options to unlock value at its high-end brand Aesop as the company seeks to restore investor confidence following a 76% stock plunge over the past 15 months. The shares rebounded as much as 18%. The Sao Paulo-based company will start studies for a possible initial public offering of Aesop, or a ...

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• 19 October

  Putin orders sweeping security powers in regions near Ukraine

  

  Bloomberg President Vladimir Putin ordered dramatically heightened security, including restrictions on movement, in regions along the border with Ukraine as attacks have spread into Russian territory. Citing strikes in recent weeks in border zones and a bombing on his showcase bridge to Crimea, Putin told a televised meeting of his Security Council that he’s ordering stepped-up measures across much of ...

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• 19 October

  UK warns former military pilots against giving training to China

    Bloomberg The UK said it is moving to stop ex-military pilots from offering training to China, warning they could be prosecuted under an espionage law. “When former UK military pilots provide training to the People’s Liberation Army of China it clearly erodes the UK’s defense advantage,” Britain’s Ministry of Defense said Wednesday on Twitter. “We are taking immediate steps ...

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