October, 2022

• 8 October

  Cathay Pacific planning jet orders as Hong Kong airport expands

  

  Bloomberg Cathay Pacific Airways Ltd. is in talks with Boeing Co. and Airbus SE about expanding its fleet, seeking to bounce back from the Covid-19 pandemic as the opening of Hong Kong airport’s third runway swells capacity. The airline is exploring possibilities for adding both passenger aircraft and freighters, Chief Customer and Commercial Officer Ronald Lam said in an interview ...

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• 8 October

  KLM urges Dutch hub to end flight cap early, plans fleet revamp

  

    Bloomberg The Dutch arm of Air France-KLM will press Amsterdam’s Schiphol Airport to drop a capacity cap in December rather than extend it through March as planned, Chief Executive Officer Marjan Rintel said. Schiphol needs to look at all options to address a labour shortage that prompted the curbs, including modifying a rostering system for security staff that’s efficient ...

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• 8 October

  Superdry shares jump as UK fashion brand returns to profit

    Bloomberg Superdry Plc shares jumped as the UK fashion brand returned to profit after Covid-19 pandemic-induced losses. The retailer, known for its logo T-shirts and bright colours, reported adjusted profit before tax of £21.9 million ($24 million), compared with a £12.6 million loss a year earlier. The shares rise as much as 13% in London. The return to profit ...

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• 8 October

  Britannia expands in Africa with Kenya deal

  Bloomberg India’s biggest cookie manufacturer, Britannia Industries Ltd., clinched a deal for operations in Kenya as part its plan to expand in Africa. The company teamed up with Nairobi-based Kenafric Industries to purchase Catalyst Capital-backed Britania Foods Ltd. in Kenya in a $20 million transaction that also involved acquiring property and a plant, Mikul Shah, a director at Kenafric, said ...

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• 8 October

  Biden: Putin threats real, could spark nuclear ‘Armageddon’

  

  Bloomberg President Joe Biden said the US is trying to find an “off-ramp” for Russian President Vladimir Putin and worries his threats to use tactical nuclear weapons are real and could lead to “Armageddon.” “We’re trying to figure out what is Putin’s off-ramp? Where does he get off? Where does he find a way out?” Biden said Thursday at a ...

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• 8 October

  Belarus, Russia and Ukraine rights activists get Nobel Peace prize

  

  Bloomberg Human rights advocates in the former Soviet neighbors of Belarus, Ukraine and Russia won the Nobel Peace Prize for their efforts to fight authoritarian regimes as Europe’s worst military confrontation since World War II is roiling the region. Ales Bialiatski from Belarus, Memorial of Russia and Ukraine’s Center for Civil Liberties were awarded the 10-million Swedish kronor ($900,000) prize ...

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• 8 October

  Erdogan: Greece should take warnings seriously

  

  Bloomberg President Recep Tayyip Erdogan on Thursday said Greece should take his warnings seriously about Turkey’s response to any threats, resorting to the menacing rhetoric he’s used in recent months that’s prompted the US to urge the two Nato allies to negotiate. Ties between Turkey and Greece have been strained for years over territorial conflicts in the east Mediterranean, but ...

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• 8 October

  France mulls new uranium plant to cut reliance on Russia

    Bloomberg French state-controlled uranium producer Orano SA is considering growing its capacity to enrich the radioactive ore into nuclear fuel by almost 50% as Western governments and utilities seek to reduce their reliance on Russia since its attack on Ukraine. The war is “reviving the urgency” to raise Western uranium-enrichment capacity to avoid potential shortages, Orano said, according to ...

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• 8 October

  Kim Jong-un’s silence as missiles fly shows strategy shift

  

  Bloomberg North Korea’s latest barrage of missiles may look like another attempt to ratchet up hostilities in return for some sort of leverage at the bargaining table. But the launches over the past two weeks seem different. Unlike previous provocations, his regime has mostly refrained from trumpeting the missiles along with the usual creative vitriol directed at the US and ...

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• 8 October

  World currency reserves fall by $1trn in record drawdown

  

    Bloomberg Global foreign-currency reserves are falling at the fastest pace on record, as central banks from India to the Czech Republic intervene to support their currencies. Reserves have declined by about $1 trillion, or 7.8%, this year to $12 trillion, the biggest drop since Bloomberg started to compile the data in 2003. Part of the decline — more than ...

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