November, 2022

• 21 November

  India set to become $30tn economy by 2050: Adani

  

    Bloomberg India is set to become a $30 trillion economy by 2050 — a nearly 10-fold jump from its current size — driven by rising consumption and social and economic reforms, according to Asia’s richest man Gautam Adani. The nation’s gross domestic product may start expanding by $1 trillion every 12 to 18 months within the next decade, increasing …

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• 21 November

  China’s natural gas output rises by 12.3% in October

  

    Beijing / WAM China’s natural gas output logged robust growth last month, data from the National Bureau of Statistics showed. According to Xinhua news agency, the country produced 18.5 billion cubic metres of natural gas in October, up 12.3% from a year ago and the growth pace was 7.7 percentage points faster than that in September. In the first …

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• 21 November

  Nike beats Adidas for winner of 2022 World Cup jersey battle

  

    Bloomberg At FIFA World Cup in Qatar, 13 of the 32 participating countries will be playing in jerseys provided by Nike Inc., the most by any sportswear sponsor at this year’s tournament. This year, Germany-based Adidas AG will outfit only seven nations. This is only the third time Oregon-based Nike has outperformed Adidas, and the biggest gap Nike has …

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• 21 November

  Superdry seeks new funds to repay bank debt in tough market

  

    Bloomberg Superdry Plc is seeking to tap investment funds to repay banks on a loan due in January as the cost-of-living crisis hits consumer spending. The London-listed clothing company has been sounding out potential new investors to replace an asset-backed facility worth £70 million ($83 million). The company said it’s in “positive on-going discussions with lenders” when contacted by …

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• 21 November

  Burberry’s new top team seeks growth in return to ‘Britishness’

  

    Bloomberg Burberry Group Plc’s new leadership plans a return to “Britishness” after a revamp by an Italian executive duo failed to keep the UK brand abreast of its luxury rivals. The new team of Chief Executive Officer Jonathan Akeroyd and creative chief Daniel Lee want to increase accessories to more than 50% of sales in the long term, banking …

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• 21 November

  American-JetBlue alliance not justified, US argues

  

  Bloomberg The partnership between American Airlines Group Inc. and JetBlue Airways Corp. has “absolutely no justification,” US Justice Department lawyers told a federal judge in closing arguments for the agency’s antitrust suit against the airlines. The government is seeking to dissolve the Northeast Alliance, a partnership formed between American and JetBlue in 2020 to share routes, bookings and passengers in …

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• 21 November

  Jeff Bezos’s Blue Origin expects launch in 2023

    Bloomberg Blue Origin, the space launch vehicle startup founded by Amazon.com chair Jeff Bezos, expects next month to complete a review of a recent accident but won’t send another rocket aloft until sometime in 2023. The company’s vice president of its New Shepard rocket’s mission and fight operations, Audrey Powers, told attendees at a conference in Washington, DC, that …

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• 21 November

  JD reports higher quarterly sales

    Bloomberg JD.com Inc. reported higher sales last quarter after shoppers kept spending at China’s second-largest online retailer despite an economic downturn. Sales rose 11% from a year earlier to $34.2 billion in the quarter ending in September, the company said in a statement. That compared to the average forecast of 243.1 billion yuan from analysts surveyed by Bloomberg. The …

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• 21 November

  JPMorgan gives new parents 16 weeks of leave as perks boosted

  

    Bloomberg JPMorgan Chase & Co. made sweeping improvements to time off for bereavement, sick days, and caring for ill family members — including for the first time giving 16 weeks of leave to either parent for the birth or adoption of a child, regardless of which is the primary caregiver. The changes put the bank more in line with …

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• 21 November

  PBOC’s warning on inflation signals policy easing may be limited

  

    Bloomberg The People’s Bank of China (PBOC) warned inflation may accelerate as overall demand in the economy picks up, suggesting the scope for further monetary policy easing may be limited. The central bank “will pay serious attention to the underlying possibility of rising inflation, especially changes in the demand side,” it said in its quarterly monetary policy report. At …

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