October, 2022

• 11 October

  Currencies replace crypto at forefront of market trading chaos

  

    Bloomberg The atmosphere at a conference of currency market professionals was markedly different from the previous few years: there was a buzz. Senior executives from banks and brokers were feeling optimistic about the prospects of foreign-exchange trading at the recent gathering in Amsterdam. They’ve spent years eyeing the world of crypto with envy, as digital assets thrived in a …

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• 10 October

  Boeing’s 737 Max begins flights to China after four-year hiatus

  

  Bloomberg The first commercial Boeing Co. 737 Max flight appeared to have resumed flying into China for the first time in almost four years, in what would be a major breakthrough for the US planemaker’s best-selling jet. A MIAT Mongolian Airlines flight operating a round-trip between Ulaanbaatar to Guangzhou landed in the southern Chinese city at 8:18am local time on …

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• 10 October

  Southwest pilots back Boeing in fight over Max 7, 10 certification

  

    Bloomberg Boeing Co gained an unlikely ally in the pilots of the world’s largest 737 operator as the planemaker lobbies Congress to extend the deadline for certifying its Max 10 and Max 7 models and avoid a potentially costly cockpit redesign. “We 100% support the extension,” Casey Murray, head of the Southwest Airlines Pilots Association, said in an interview. …

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• 10 October

  Tesco battle with Aldi heats up with pledge to lock prices

  

    Bloomberg Tesco Plc froze prices on 1,000 products until next year to maintain its leading market share in the UK amid intense competition from discount grocers Aldi and Lidl. Britain’s biggest grocer reported better-than-expected sales and only slightly reduced its profit guidance for the fiscal year as it works to keep prices low and increases pay to blunt the …

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• 10 October

  Airlines misleading flyers with carbon-neutral claims: Study

  

  Bloomberg Europe’s leading airlines are misleading consumers with claims that they can fly guilt-free by using carbon offsets to neutralise the environmental impact of air travel, according to a new report by the non-profit Carbon Market Watch. A temporary dip during the Covid-19 pandemic aside, airline emissions have been steadily rising for the past two decades and, left unchecked, could …

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• 10 October

  Starbucks fired staff over activism: Judge

    Bloomberg Starbucks Corp. illegally fired a Michigan employee because she engaged in union activism and participated in a US labour board proceeding, a National Labour Relations Board judge ruled. The agency judge’s decision requires the coffee chain to offer the worker reinstatement with back pay. It says Starbucks must also hold a meeting with employees as well as representatives …

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• 10 October

  Global chip stocks decline as Biden expands curbs on tech

  

  Bloomberg Semiconductor stocks across the globe retreated on Monday after fresh US curbs on China’s access to American technology added to a disappointing start to the earnings season, stoking concerns that the industry’s downturn is far from over. In China, bellwether Semiconductor Manufacturing International Corp (SMIC) falls 4% in Hong Kong, the most in five weeks. Declines were steeper in …

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• 10 October

  FTSE 100 buybacks set to return record $57bn to investors

  

    Bloomberg As recession looms, stock prices slide and sterling sinks, British firms are backing off expansion and instead handing money back to investors by buying back shares like never before. Companies in the FTSE 100 Index are set to repurchase stock worth almost $57 billion this year, significantly above previous peaks, according to financial services firm AJ Bell Ltd. …

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• 10 October

  Cathay Pacific needs another 1,000 flight attendants by ’23

  

    Bloomberg Just over 1,000 people have signed up for Cathay Pacific Airways Ltd.’s flight attendant recruiting drive, around half of the 2,000 targeted by the end of 2023, underscoring the labour challenges the airline faces as it seeks to fully restore flights in and out of the Asian financial hub. Cathay said it was satisfied with the expressions of …

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• 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 …

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