October, 2022

• 13 October

  Equities rise, with eyes on US inflation data

  

    Bloomberg US equity index futures rise on Thursday, ahead of key US inflation data that could determine how much further the Federal Reserve’s policy-tightening cycle will run. Futures contracts on the S&P 500 were up 0.5% as of 5:55 am in New York, while those on the Nasdaq 100 gained 0.3%. The benchmark index had tumbled to its lowest …

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• 12 October

  Amazon, Walmart start holiday sales with expected ‘huge’ deals

  

    Bloomberg Holiday deals are coming back, bringing a measure of relief for US shoppers squeezed by inflation. Tech gadgets to sporting goods will see “massive” online discounts, with the best bargains likely in late November, Adobe Analytics said in a report. Walmart Inc is already touting deals on computers, toys and air fryers this week, while Amazon.com Inc will …

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• 12 October

  Boeing’s 747 cargo plane wheel falls off after takeoff in Italy

  

    Bloomberg A wheel fell off a giant Boeing Co. cargo jet and plunged to the ground shortly after the aircraft took off from Taranto in southern Italy on Tuesday morning. A video posted on Twitter showed a plume of black smoke suddenly spit out from the 747-400 Dreamlifter’s undercarriage and a wheel like a giant bowling ball flying to …

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• 12 October

  India’s wealthy consumers fuel expansion of Tata’s jewellery arm

  

    Bloomberg India’s expected surge of rich consumers is driving the jewellery unit of Indian conglomerate Tata group to triple its Zoya-branded luxury stores by 2027. “There is a lot of latent demand for luxury from India and high net-worth individuals are going to explode,” Ajoy Chawla, the chief executive officer of the jewellery division at Titan Co., said in …

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• 12 October

  Online retailers aren’t on 2022 holiday wish lists

  

    Bloomberg E-commerce stocks have struggled this year, and plenty of investors are doubtful the holiday shopping season will provide a catalyst to turn things around. Online retailers such as Wayfair Inc. and Etsy Inc already are under pressure from the loss of pandemic-era tailwinds and economic weakness weighing on consumer sentiment. Now, some analysts are fretting that high inventories …

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• 12 October

  UK shoppers snap up warm clothes for difficult winter

    Bloomberg Britons took action to curtail their energy use this winter by buying blankets, warm clothing and energy-efficient appliances in response to soaring gas and electricity prices. That’s according to the latest sales survey from the British Retail Consortium, which also found consumers cut back on big-ticket items such as computers, televisions and furniture last month. The overall value …

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• 12 October

  Deliveroo opens first grocery outlet

    Bloomberg Deliveroo Plc is opening its first physical grocery outlet in the UK on central London’s New Oxford Street in an expansion of its rapid delivery service. Customers will be able to purchase items by ordering through digital kiosks in the store, ordering ahead via the Deliveroo app for in-store collection or for delivery nearby. The new effort from …

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• 12 October

  Bailey risks BOE credibility in vow to end gilt purchases

  

    Bloomberg Governor Andrew Bailey put the Bank of England’s BOE) credibility on the line with a pledge to end emergency gilt purchases as scheduled on Friday, in the face of mounting market pressure to extend the program. Investors dumped UK assets after Bailey told pension funds they have just “three days left” to sort out their liquidity positions before …

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• 12 October

  RBI to stay hawkish even as inflation likely peaked: DBS

  

    Bloomberg India’s inflation likely peaked in September but that’s unlikely to convince the central bank at this point to halt its tightening cycle, according to DBS Bank Ltd. “A bump up is expected in September numbers,” DBS Bank Senior Economist Radhika Rao said in an interview with Bloomberg Television’s Juliette Saly and Rishaad Salamat on Wednesday. “But the good …

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• 12 October

  Monte Paschi to proceed with $2.4bn share sale as planned

  

    Bloomberg Banca Monte dei Paschi di Siena SpA is clearing the final hurdles for its crucial €2.5 billion ($2.4 billion) share sale, with Chief Executive Officer Luigi Lovaglio close to having enough backing from investors to convince banks underwriting the deal. Parties are fine-tuning the details in order to start the share sale next week, people familiar with the …

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