October, 2022

• 3 October

  Italy’s Giorgia Meloni has a mandate but little time

    Those disheartened by the election campaign run by Giorgia Meloni may think that the best thing about Italy’s incoming government will be its likely transience. Hers will be the country’s 70th government since World War II. But it would be wrong to conclude that Italian leaders don’t matter. To the contrary, Europe badly needs a stable Italy capable of ...

  Read More »
• 2 October

  China’s rival aircraft to Boeing, Airbus jets wins certification

  

    Bloomberg China formally certified its homegrown aircraft to take on Boeing Co and Airbus SE in the highly lucrative market for narrowbody jets, according to the official Xinhua News Agency. The announcement of the certification of Commercial Aircraft Corp of China Ltd.’s C919 was made in Beijing, with President Xi Jinping and other high ranking Chinese government officials attending ...

  Read More »
• 2 October

  Boeing’s 737 Max 7 at risk of missing key deadline, warns US

  

    Bloomberg US aviation regulators warned Boeing Co. that its 737 Max 7 model is at risk of missing a key deadline later this year, potentially forcing the planemaker to carry out an expensive and complex redesign of the aircraft. The Federal Aviation Administration’s chief of aircraft certification told Boeing that the agency had approved less than 10% of the ...

  Read More »
• 2 October

  HK plans 500,000 plane-ticket giveaway to attract tourists

  

    Bloomberg Hong Kong will give away 500,000 plane tickets to lure visitors back to the financial hub when the government removes all remaining restrictions on inbound arrivals, local media outlet Sing Tao reported in a column, citing people it didn’t identify. Chief Executive John Lee may announce the plan to return to normalcy in his October policy address, unless ...

  Read More »
• 2 October

  Tata group’s Air India weighs raising $1bn for expansion

  

    Bloomberg Air India Ltd. is considering raising at least $1 billion in a funding round that could value the carrier at around $5 billion, according to people familiar with the matter. The carrier, controlled by India’s oldest conglomerate Tata Group, is in discussions with potential investors including private equity funds and sovereign wealth funds, said the people. Air India ...

  Read More »
• 2 October

  Inflation in UK shops hits record high as pound falls

    Bloomberg Prices in British shops hit a fresh record high, heaping more pain on consumers grappling with soaring energy and housing bills. The British Retail Consortium said shop price inflation accelerated to 5.7% in September, topping the previous 5.1% record increase in August. This is highest level of inflation since the index began in 2005 as retailers pass on ...

  Read More »
• 2 October

  H&M mulls charging for online returns

    Bloomberg Swedish fashion retailer H&M is considering charging for online returns amid a series of efficiency measures to reduce surging costs. The company is trying out the fees in Norway and the UK in coming days, embracing a measure that rivals have turned to as well, Chief Executive Officer Helena Helmersson said. “We are testing it as a possible ...

  Read More »
• 2 October

  US eyes regular aid to Ukraine, pushes EU to do more

    Bloomberg The US is willing to support Ukraine’s finances with $1.5 billion a month in aid throughout the war against Russia and is pushing its European allies to commit to similar amounts, according to people familiar with the matter. The Biden administration, which signed off last week on $4.5 billion in grants to cover the rest of the year, ...

  Read More »
• 2 October

  Thousands march in UK cities to protest on cost-of-living crisis

  

  Bloomberg A series of protests filled the streets of the largest UK cities, with people rallying for causes ranging from a cost-of-living crisis and pay rises to protecting the climate. Across Britain, in cities including London, Edinburgh, Swansea and Liverpool, protesters gathered for marches coordinated by the campaign Enough is Enough. They are demanding support to face surging prices, in ...

  Read More »
• 2 October

  Hurricane Ian to cost US insurers $63bn in claims

  

  Bloomberg Hurricane Ian will cost private US insurers $63 billion in claims and will cause the largest storm-related losses in Florida’s history, according to an estimate from a risk modeling firm. The forecast includes losses to residential, commercial and industrial properties as well as automobiles, Karen Clark & Co. said in a report. Previous estimates cited by industry analysts put ...

  Read More »