October, 2022

• 11 October

  Norse plans to rent out a third of its fleet

    Bloomberg Startup airline Norse Atlantic ASA plans to rent out a third of its fleet next summer amid concern that a weaker economic environment will weigh on demand in the trans-Atlantic markets it’s targeting. Norse, which agreed to take 15 Boeing Co. 787 jets from leasing firms with the aim of building up US flights from London Gatwick, has ...

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• 11 October

  G-7 leaders pledge to support Ukraine ‘for as long as it takes’

  

  Bloomberg Group of Seven leaders vowed to support Ukraine “for as long as it takes” and condemned Russia’s recent steps to escalate its war there “in the strongest possible terms.” During a 90-minute video call Tuesday with Ukrainian President Volodymyr Zelenskiy, G-7 leaders pledged their “undeterred and steadfast” commitment to helping the government in Kyiv “uphold its sovereignty and territorial ...

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• 11 October

  China worried about situation in Ukraine after Russian missile strikes

  

  Bloomberg China said it was worried about the worsening situation in Ukraine, after Russia struck civilian targets with missiles in retaliation for a attack on a key bridge. “We are concerned about the development of the current situation and call on relevant parties to resolve their differences through dialogue and consultation,” Foreign Ministry spokeswoman Mao Ning said Tuesday at a ...

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• 11 October

  Scottish independence debate adds to Truss’s troubles

  

  Bloomberg A renewed push for Scottish independence is about to force its way onto embattled UK Prime Minister Liz Truss’s agenda. The debate over a second referendum on Scotland breaking with the rest of the UK goes to the Supreme Court in London on Tuesday, where judges were to consider a request by the semi-autonomous government in Edinburgh whether it ...

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• 11 October

  Mahathir says he will defend Langkawi seat in Malaysia elections

    Bloomberg Mahathir Mohamad, Malaysia’s 97-year-old former prime minister, said he will defend his Langkawi parliamentary seat in the upcoming general election. The country’s longest-serving leader, who was instrumental in unseating the ruling United Malays National Organisation in the historic 2018 election before losing power in 2020, said his party had yet to pick a candidate as premier. Still, he ...

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• 11 October

  HSBC looks to deals, disposals as part of fight against breakup

  

  Bloomberg HSBC Holdings Plc has spent the past six months fighting calls from its largest shareholder to split up. That isn’t stopping the bank ramping up its own deal-making program. The London-based lender expects to increase the amount of acquisitions it makes in the coming years, a person familiar with the company’s thinking said. Further disposals are also expected but ...

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• 11 October

  BOK set to resume outsized rate hikes to keep pace with Fed

  

    Bloomberg The Bank of Korea (BOK) is set to pivot back to an outsized interest-rate increase as it seeks to keep pace with the Federal Reserve and rein in inflationary pressures exacerbated by a weaker currency. The central bank will raise its key rate by a larger-than-regular 50 basis points to 3% at Wednesday’s meeting despite having dialled back ...

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• 11 October

  Central banks moved too slowly on inflation, says SNB’s Jordan

  

  Bloomberg The world’s top central banks reacted too slowly to accelerating prices, according Swiss National Bank President Thomas Jordan. “Inflation has been underestimated globally,” Jordan said in Zurich, adding that leading rate setters “very likely waited too long” combating it. “But you have to say: Uncertainty was exceptionally high in this situation — and stays high,” he said. “Central banks ...

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• 11 October

  Pakistan keeps key interest rate steady

    Bloomberg Pakistan’s central bank kept its benchmark interest rate unchanged for a second consecutive meeting to support an economy staring at crises worsened by deadly floods. The State Bank of Pakistan maintained the target rate at 15% , as forecast by 40 of 43 economists surveyed by Bloomberg. Three expected a cut ranging between 25-50 basis points. The decision ...

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• 11 October

  Chipmaker rout engulfs TSMC, Samsung with $240b wiped out

  

    Bloomberg Asia’s top chip stocks tumbled on Tuesday, ensnared in an escalating US-China tech race that has erased more than $240 billion from the sector’s global market value. Taiwan Semiconductor Manufacturing Co (TSMC), the world’s largest contract chipmaker, plunged a record 8.3% while Samsung Electronics Co. and Tokyo Electron Ltd. also declined. The selloff spread to the foreign-exchange market ...

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