October, 2022

• 20 October

  Delta partners with MIT to erase contrails from skies

  

    Bloomberg The aviation sector’s burning of fossil fuels isn’t the only way it contributes to climate change: Contrails, the white clouds that trail behind airplanes, are known by researchers to trap heat from the Earth’s surface in the atmosphere. They are formed when water vapour from engine exhaust mixes with cold air, and their environmental impact is significant. Delta ...

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• 20 October

  Uber partners with Iceland Foods to offer rapid delivery

    Bloomberg Uber Technologies will offer consumers delivery within minutes on orders from frozen-grocery chain Iceland Foods, in its first “quick commerce” partnership in the UK. Customers on the Uber Eats mobile app will be able to order more than 1,000 items from Iceland via the new initiative, known as Uber Eats Market, the company said. The move marks Uber’s ...

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• 20 October

  Albertsons profit tops estimates

    Bloomberg Albertsons Cos. reported a quarterly profit that topped Wall Street’s estimates, underscoring the steady demand that makes the grocer an attractive takeover target for Kroger Co. Earnings excluding some items rise to 72 cents a share in the fiscal second quarter, Albertsons said in a statement. That surpassed the 64-cent average of analyst estimates compiled by Bloomberg. Sales ...

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• 20 October

  Banks saddled with $30bn in unwanted debt in risk exodus

  

    Bloomberg The world’s biggest banks have already had to use about $30 billion of their own cash this year to fund loans for acquisitions and buyouts that they weren’t able to offload to investors. The lenders have been forced to fund at least 15 deals in the US and Europe as inflation and risk of a recession evaporates investor ...

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• 20 October

  Visa promises more data on pay equity

  

    Bloomberg Visa Inc’s promise to disclose additional information about what it pays employees has led a prominent activist investor to ditch a planned proxy fight. Arjuna Capital withdrew a shareholder proposal that asked Visa to disclose quantitative data about what it pays employees and how jobs and compensation are distributed by race and gender. Arjuna said it was told ...

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• 20 October

  Goldman shakes up leadership ranks in another overhaul

    Bloomberg Goldman Sachs group Inc’s David Solomon is embarking on his third major reorganisation in just four years as chief executive officer, undoing some of the signature moves he made as recently as 2020. The Wall Street giant plans to once again combine its expanded asset management and private wealth businesses into one unit run by Marc Nachmann. Goldman ...

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• 20 October

  HK stocks poised for 13-year low as growth concerns weigh

  

    Bloomberg Hong Kong stocks dropped, putting the benchmark on course for its lowest close since 2009, as Chief Executive John Lee’s maiden policy speech underwhelmed amid ongoing concerns about China’s Covid Zero policy. The Hang Seng Index slid as much as 2.6%, driven by losses in tech shares including Alibaba group Holding Ltd. and Meituan. The measure, down 31% ...

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• 20 October

  GoTo in talks with Alibaba, SoftBank for $1b stake sale

  

  Bloomberg Indonesia’s largest tech company GoTo group is in talks with its major owners for a controlled sale of roughly $1 billion of their stakes, aiming to avoid a potential stock crash when a lock-up on their holdings ends next month. The ride-hailing and e-commerce provider is gauging the interest of early backers including Alibaba group Holding Ltd. and SoftBank ...

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• 20 October

  Aramex acquires MyUS platform in $265m deal

  

    Dubai / WAM Aramex, a leading global provider of logistics and transportation solutions that is listed on the Dubai Financial Market (DFM), has completed the acquisition of Access USA Shipping (MyUS), a global technology-driven platform, for an all-cash purchase price of about $265 million. The transaction, after having obtained all the necessary regulatory approvals, marks Aramex’s largest acquisition to ...

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• 19 October

  China’s biggest airlines plan more international flights

  

    Bloomberg China’s biggest airlines are planning more international flights, a sign the government is aware of the country’s growing isolation as it persists with lockdowns and mass testing internally — hallmarks of its Covid Zero policy. China Eastern Airlines Corp., which was severely impacted by virus lockdowns in Shanghai, will operate 108 international flights a week from October 30 ...

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