October, 2022

• 10 October

  Levi cuts 2022 profit forecast on softening demand, strong dollar

  

    Bloomberg Levi Strauss & Co reported quarterly revenue that fell short of expectations, and the denim maker also reduced its outlook for the full year, citing economic uncertainty along with supply-chain disruptions and a stronger US dollar. Revenue in the fiscal third quarter ended August 28 was $1.52 billion, below the $1.6 billion average estimate of analysts surveyed by ...

  Read More »
• 10 October

  F-35 deliveries to resume after Chinese alloy prompted halt

  

    Bloomberg Deliveries of Lockheed Martin Corp.’s F-35 will resume after the Pentagon’s acquisitions chief issued a “national security” waiver from a ban on a Chinese alloy used in a component on the fighter jet. The component — a magnet in a device supplied by Honeywell International Inc. — has been used in the plane since 2003. After the Chinese ...

  Read More »
• 10 October

  United plans to resume Hong Kong flights from January

  

    Bloomberg United Airlines Holdings Inc. is planning to restart Hong Kong flights as soon as January, according to people familiar to the matter, becoming one of a handful of major airlines to resume passenger flights to the city, which has largely been cut off to the outside world since the start of the pandemic. The Chicago-based carrier is evaluating ...

  Read More »
• 10 October

  Partnerships don’t always put customer first, says American

  Bloomberg American Airlines group Inc’s top commercial officer said the airline hadn’t focused on customers in creating its earlier corporate partnerships, validating the suspicions of many disgruntled air travellers. Testifying with unusual candour during Justice Department’s antitrust trial seeking to block American’s partnership with JetBlue, American’s chief commercial officer, Vasu Raja, said customers were an afterthought compared to business and ...

  Read More »
• 10 October

  US to screen air travellers for Ebola

    Bloomberg The US will begin redirecting travellers from Uganda to five airports to screen for Ebola, as the East African country grapples with an outbreak of a strain of virus for which there is no approved vaccine. The notice is not a travel ban or suspension on those coming from Uganda, but is being put in place out of ...

  Read More »
• 10 October

  Russia races to reopen Crimea bridge damaged in fiery blast

  

    Bloomberg President Vladimir Putin’s flagship bridge to Crimea was severely damaged in a blast that hit a fuel train and caused the partial collapse of the only road link running from the Russian mainland to the Black Sea peninsula that Moscow annexed in 2014. Local authorities raced on Saturday to reopen one lane of the Kerch Strait Bridge to ...

  Read More »
• 10 October

  South Korea to boost US, Japan defense ties after Kim’s missiles

  

  Bloomberg South Korea said its military will strengthen security cooperation with the US and Japan, including the deployment of “US strategic assets,” after Kim Jong Un’s North Korea fired two short-range ballistic missiles Sunday. The provocations, in violation of United Nations Security Council’s resolutions, will strengthen sanctions against North Korea, worsen public welfare and make the regime “very unstable,” South ...

  Read More »
• 10 October

  Truss faces new perils as restless MPs return to Westminster

  

  Bloomberg The return of Parliament this week is fraught with danger for UK Prime Minister Liz Truss. In her first month in office, the 47-year-old premier managed to roil the financial markets, alienate a swath of her lawmakers and sink the Conservative Party in the polls with the biggest set of unfunded tax cuts in half a century. Since the ...

  Read More »
• 9 October

  India plans phased central bank digital rupee launch

  

    Bloomberg India’s central bank is working towards a phased introduction of a digital currency and will put forth a final design after it has conducted large scale pilot projects. The Reserve Bank of India (RBI) is exploring the option of implementation of an account-based central bank digital currency or CBDC for the wholesale segment and token-based currency for the retail ...

  Read More »
• 9 October

  UBS dropped from $3.4bn Texas muni deal in latest blow

  

  Bloomberg UBS Group AG’s underwriting arm has been left out of the group that is poised to handle the biggest-ever municipal-bond transaction from Texas after the state listed the bank as one of the firms it considers to “boycott” the fossil-fuel industry. Board members of the issuer, the Texas Natural Gas Securitisation Finance Corp., announced a newly configured underwriting syndicate ...

  Read More »