October, 2022

• 14 October

  Qantas roars back to profit as airline leaves pandemic behind

  

    Bloomberg Qantas Airways Ltd has surged back to profitability on booming travel demand after most pandemic-era curbs were dismantled, helping shore up Alan Joyce’s position as chief executive officer and sending the shares to their biggest gain in two-and-a-half years. First-half underlying profit before tax is seen at A$1.2 billion to A$1.3 billion ($816 million) — ending a streak ...

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• 14 October

  EU countries opt for compromise on airline slot rules this winter

  

    Bloomberg European Union (EU) nations backed off from a confrontation over what proportion of takeoff and landing slots airlines should be compelled to use this winter. Member states have agreed to a use-them-or-lose-them level of 75% for the airport slots, up from 64% now, as demand rebounds from the coronavirus crisis, according to a statement from the European Council. A ...

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• 14 October

  LVMH sales surge as Dior owner boosted by traveling Americans

  

  Bloomberg LVMH sales jumped as the owner of Louis Vuitton and Christian Dior benefited from wealthy American tourists splurging on luxury goods in Europe. Defying fears of a global recession, sales of LVMH’s fashion and leather goods soared 22% on an organic basis in the third quarter, the company reported. Analysts had expected a gain of 16%. Even so, the ...

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• 14 October

  PepsiCo lifts outlook as drink, snack sales buck inflation

  

  Bloomberg PepsiCo Inc. said its playbook for battling inflation is still working, with price hikes fuelling double-digit gains in sales despite lower volumes of snack purchases. The company beat profit estimates for the third quarter and raised its forecast for the year. That’s a positive sign for investors at the start of an earnings season where anxieties are running high ...

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• 14 October

  Starbucks illegally asked for cops to disperse staff: Judge

    Bloomberg Starbucks Corp. violated federal law in Kansas and Missouri by firing pro-union employees, stepping up enforcement of its dress code in response to union organising and asking for police to disperse workers with picket signs, a National Labour Relations Board judge ruled. The agency judge’s decision requires Starbucks to offer reinstatement with back pay to four employees, and ...

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• 14 October

  Beyond Meat announces layoffs

    Bloomberg Plant-based burger maker Beyond Meat Inc. is conducting further layoffs following a round of cuts made in August, according to people familiar with the matter. It wasn’t immediately clear how many workers were terminated. Beyond Meat asked employees to work from home and restricted access to documents. Management then set up individual calls to inform some workers that ...

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• 14 October

  North Korea fires missile again, sends warplanes near border

  

  Bloomberg North Korea test-launched a short-range ballistic missile, fired barrages of artillery and flew about 10 warplane near the inter-Korean border, saying its actions were a stern warning to South Korea for recent military moves. The missile was launched at 1:49 a.m. Friday from an area near Pyongyang’s main international airport. It flew for about 700 kilometers (435 miles), hitting ...

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• 14 October

  Erdogan welcomes Putin’s idea to make Turkey a gas hub

  

  Bloomberg Recep Tayyip Erdogan welcomed Vladimir Putin’s proposal to turn Turkey into a regional hub for natural gas, potentially positioning the country as a key route for Russian flows to Europe. The Turkish president met Putin in Kazakhstan on Thursday and they agreed to establish an international gas hub, most likely in the Thrace region bordering Greece and Bulgaria, state-run ...

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• 14 October

  US warns Venezuelan migrants not to cross border

  

  Bloomberg A Biden administration official said thousands of Venezuelans crossing Central America to try to reach the US should stop where they are or risk getting turned away at the border. “For those who are on the move, I want to tell them to stay where they are. Do not try to enter Mexico and do not try to cross ...

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• 14 October

  Swedish nationalists to stay out of planned minority cabinet

    Bloomberg Sweden’s nationalists won major concessions on crime and immigration from the country’s incoming minority government even after failing to secure seats in the cabinet unveiled on Friday. Ulf Kristersson, the leader of the Moderates and incoming prime minister, said that the coalition taking over from Magdalena Andersson’s Social Democrats will include ministers from his own and two smaller ...

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