October, 2022

• 18 October

  Enjoy the social security bump now

  

    Social Security is known as the third rail of politics. President Joe Biden has pounced on all who dare even think about curtailing the retirement program. In fact, this week cash-strapped retirees will get the biggest cost-of-living increase in 40 years, an 8.7% boost to protect them from inflation. For many retirees on fixed incomes, that’s a godsend. Some ...

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• 18 October

  Don’t mistake investors for complete pushovers

    A takeover bid for one of the UK’s few publicly traded software companies of any size is facing resistance. When stocks are falling everywhere, snubbing a cash offer is brave. But shareholders in Aveva Group Plc are justified in holding out. The situation is emblematic of the opportunistic bids we could see exploiting this year’s collapse in the pound ...

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• 18 October

  After Hurricane Ian, build back different

    Florida’s home-insurance business was in trouble even before Hurricane Ian tore across the state. Big insurers were taking their business elsewhere, smaller ones were going broke, costs due to litigation and fraud had soared, and so had premiums. The private market was pulling back as the risk of weather-related damage mounted, leaving homeowners to buy protection from the state-backed ...

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• 18 October

  United nears ‘triple-digit’ order for widebody jets

  

  Bloomberg United Airlines Holdings Inc. is closing in on an order for more than 100 widebody jets as it studies offers for Boeing Co.’s 787 Dreamliner and Airbus SE’s A350. The transaction would be one of the largest-ever purchases of long-range aircraft. It’s part of a broader push by Chief Executive Officer Scott Kirby to upgrade United’s offering a little ...

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• 18 October

  EU signs accord with Asean to expand flights

  

  Bloomberg The European Union (EU) finalised a deal with the Association of Southeast Asian Nations (Asean) to expand flights between the two trading blocs following negotiations that began six years ago. The deal, signed on Monday in Bali, Indonesia, will add passenger and cargo services between and beyond both regions, boosting connectivity as Asia reopens following Covid-19 restrictions, the EU ...

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• 18 October

  Prices of Rolex watches to fall further as supply surges

  

    Bloomberg Prices for the most popular pre-owned Rolex, Patek Philippe and Audemars Piguet watches will fall further as the market has been flooded with supply, analysts at Morgan Stanley said in a report. After surging in 2021 and during the first quarter of 2022, an index of the most popular models from Daytona chronograph maker Rolex tracked by WatchCharts ...

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• 18 October

  Domino’s pizza soars as food, drink makers parry inflation

  

    Bloomberg Domino’s Pizza Inc’s better-than-expected quarterly sales are a further indication that even in the face of inflation, consumers are still indulging in their favourite meals and snacks. Domino’s stock surged as much as 11% in New York trading, the most since July 2021, after US comparable-store sales beat analyst estimates. Overall it was a mixed quarter, with revenue ...

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• 18 October

  Energy costs leading small suppliers to idle plants: Airbus

  

  Bloomberg Airbus SE Chief Executive Officer Guillaume Faury said high energy prices are weighing hard on suppliers to its jetliner programs and that some smaller firms are having to idle production. While the worst of a supplier crunch triggered by shortages of labour and raw materials may be over, the high cost of power has become a pressing issue for ...

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• 18 October

  Lava eyes India venture with Chinese partner

    Bloomberg Indian smartphone maker Lava International Ltd. is in advanced talks with China’s Huaqin Technology Co. to create an electronics manufacturing venture in the South Asian nation. The venture would aim to win contracts from US and Chinese customers for research and development, design, and manufacturing of electronics products, according to a letter from Lava to India’s technology ministry ...

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• 18 October

  Defiant Xi tells world China is ready to stand its ground

  

  Bloomberg President Xi Jinping had a clear message to those who want to thwart China’s rise: You will fail. In a speech running almost two hours on Sunday, Xi let the world know that China wouldn’t change course even as it faces “dangerous storms” in a more hostile world. Instead, he declared the “rejuvenation of the Chinese nation is now ...

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