October, 2022

• 12 October

  Boeing’s 747 cargo plane wheel falls off after takeoff in Italy

  

    Bloomberg A wheel fell off a giant Boeing Co. cargo jet and plunged to the ground shortly after the aircraft took off from Taranto in southern Italy on Tuesday morning. A video posted on Twitter showed a plume of black smoke suddenly spit out from the 747-400 Dreamlifter’s undercarriage and a wheel like a giant bowling ball flying to ...

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• 12 October

  India’s wealthy consumers fuel expansion of Tata’s jewellery arm

  

    Bloomberg India’s expected surge of rich consumers is driving the jewellery unit of Indian conglomerate Tata group to triple its Zoya-branded luxury stores by 2027. “There is a lot of latent demand for luxury from India and high net-worth individuals are going to explode,” Ajoy Chawla, the chief executive officer of the jewellery division at Titan Co., said in ...

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• 12 October

  Online retailers aren’t on 2022 holiday wish lists

  

    Bloomberg E-commerce stocks have struggled this year, and plenty of investors are doubtful the holiday shopping season will provide a catalyst to turn things around. Online retailers such as Wayfair Inc. and Etsy Inc already are under pressure from the loss of pandemic-era tailwinds and economic weakness weighing on consumer sentiment. Now, some analysts are fretting that high inventories ...

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• 12 October

  UK shoppers snap up warm clothes for difficult winter

    Bloomberg Britons took action to curtail their energy use this winter by buying blankets, warm clothing and energy-efficient appliances in response to soaring gas and electricity prices. That’s according to the latest sales survey from the British Retail Consortium, which also found consumers cut back on big-ticket items such as computers, televisions and furniture last month. The overall value ...

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• 12 October

  Deliveroo opens first grocery outlet

    Bloomberg Deliveroo Plc is opening its first physical grocery outlet in the UK on central London’s New Oxford Street in an expansion of its rapid delivery service. Customers will be able to purchase items by ordering through digital kiosks in the store, ordering ahead via the Deliveroo app for in-store collection or for delivery nearby. The new effort from ...

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• 12 October

  Biden calls Putin a ‘rational actor’ who ‘miscalculated’

  

  Bloomberg President Joe Biden said the US has gamed out responses if Russian President Vladimir Putin uses a nuclear weapon in Ukraine. “The Pentagon didn’t have to be asked,” Biden said in an interview Tuesday with CNN, in response to a question about whether he’d directed the Defense Department to come up with contingencies. The president declined to elaborate on ...

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• 12 October

  Taiwan plans to build new warships to counter China’s growing pressure

  

  Bloomberg Taiwan’s navy plans to update its aging fleet of warships, a move intended to counter ramped up military pressure from China. Taiwan intends to build a new anti-submarine frigate and a similar vessel with anti-aircraft capabilities, officials from the Defense Ministry told lawmakers in Taipei on Wednesday, adding the vessels were expected to be ready by 2025 and 2026. ...

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• 12 October

  Trudeau trails Tory leader as most trusted inflation fighter

  

  Bloomberg Conservative Leader Pierre Poilievre is beating Prime Minster Justin Trudeau on Canada’s top economic issue, just over a month after taking the reins of the main opposition party. Polling by Nanos Research Group for Bloomberg News shows 30% of Canadians rank Poilievre as the leader most trusted to reduce inflation, compared with 22% for Trudeau and 10% for Jagmeet ...

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• 12 October

  Suu Kyi jailed for 3 more years on corruption charges

  

  Bloomberg A military-controlled court in Myanmar has sentenced ousted leader Aung San Suu Kyi to 3 more years in prison after she was found guilty of accepting bribes from a local businessman, according to a person familiar with the matter. The 77-year-old Nobel peace laureate was convicted of two corruption charges by the court in Naypyidaw on Wednesday. The court ...

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• 12 October

  Bailey risks BOE credibility in vow to end gilt purchases

  

    Bloomberg Governor Andrew Bailey put the Bank of England’s BOE) credibility on the line with a pledge to end emergency gilt purchases as scheduled on Friday, in the face of mounting market pressure to extend the program. Investors dumped UK assets after Bailey told pension funds they have just “three days left” to sort out their liquidity positions before ...

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