Bloomberg Hong Kong will give away 500,000 plane tickets to lure visitors back to the financial hub when the government removes all remaining restrictions on inbound arrivals, local media outlet Sing Tao reported in a column, citing people it didn’t identify. Chief Executive John Lee may announce the plan to return to normalcy in his October policy address, unless ...
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October, 2022
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2 October
Tata group’s Air India weighs raising $1bn for expansion
Bloomberg Air India Ltd. is considering raising at least $1 billion in a funding round that could value the carrier at around $5 billion, according to people familiar with the matter. The carrier, controlled by India’s oldest conglomerate Tata Group, is in discussions with potential investors including private equity funds and sovereign wealth funds, said the people. Air India ...
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2 October
Inflation in UK shops hits record high as pound falls
Bloomberg Prices in British shops hit a fresh record high, heaping more pain on consumers grappling with soaring energy and housing bills. The British Retail Consortium said shop price inflation accelerated to 5.7% in September, topping the previous 5.1% record increase in August. This is highest level of inflation since the index began in 2005 as retailers pass on ...
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2 October
H&M mulls charging for online returns
Bloomberg Swedish fashion retailer H&M is considering charging for online returns amid a series of efficiency measures to reduce surging costs. The company is trying out the fees in Norway and the UK in coming days, embracing a measure that rivals have turned to as well, Chief Executive Officer Helena Helmersson said. “We are testing it as a possible ...
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2 October
US eyes regular aid to Ukraine, pushes EU to do more
Bloomberg The US is willing to support Ukraine’s finances with $1.5 billion a month in aid throughout the war against Russia and is pushing its European allies to commit to similar amounts, according to people familiar with the matter. The Biden administration, which signed off last week on $4.5 billion in grants to cover the rest of the year, ...
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2 October
Thousands march in UK cities to protest on cost-of-living crisis
Bloomberg A series of protests filled the streets of the largest UK cities, with people rallying for causes ranging from a cost-of-living crisis and pay rises to protecting the climate. Across Britain, in cities including London, Edinburgh, Swansea and Liverpool, protesters gathered for marches coordinated by the campaign Enough is Enough. They are demanding support to face surging prices, in ...
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2 October
Hurricane Ian to cost US insurers $63bn in claims
Bloomberg Hurricane Ian will cost private US insurers $63 billion in claims and will cause the largest storm-related losses in Florida’s history, according to an estimate from a risk modeling firm. The forecast includes losses to residential, commercial and industrial properties as well as automobiles, Karen Clark & Co. said in a report. Previous estimates cited by industry analysts put ...
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2 October
Tesla set to hit delivery record in rebound from supply strains
Bloomberg Tesla Inc is expected to announce record quarterly deliveries as the electric-vehicle giant tries to recover from supply-chain snarls that crimped output earlier this year. The totals are poised for release this weekend once Tesla finishes sales, the last day of the quarter. Deliveries are one of the most closely watched metrics by investors, underpinning Tesla’s financial results and ...
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2 October
Intel’s self-driving technology Mobileye unit files for IPO
Bloomberg Intel Corp. has filed for an initial public offering of its self-driving technology business, Mobileye Global Inc., braving the worst market for new US listings since the financial crisis more than a decade ago. The company didn’t disclose terms of the planned share sale in its filing Friday with the US Securities and Exchange Commission. Mobileye will continue ...
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2 October
French car sales pursue rebound in September
Bloomberg French new car registrations extended a rebound in September, after being hit by the fallout from the war in Ukraine in the first half of the year. France’s new passenger car sales rise 5.5% from a year earlier to 141,142, the PFA auto association said in a statement. That followed a pick-up in sales starting in August. Earlier ...
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