September, 2022

• 27 September

  RBNZ’s tightening cycle is ‘well advanced,’ says Orr

  

    Bloomberg New Zealand’s central bank (RBNZ) still has some work to do to tame inflation but the bulk of the heavy lifting is behind it, Governor Adrian Orr said. “We believe we still have some work to do, but the good news is because we’ve done so much already, the tightening cycle is very mature, it’s well advanced,” Orr ...

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• 27 September

  Hungary to hike key rate as forint plunges again

    Bloomberg Hungary will raise its key interest rate to a new European Union high as a standoff with the bloc over the rule of law complicates the central bank’s efforts to end its monetary-tightening cycle. Policy makers will raise the benchmark interest rate by a full percentage point to 12.75%, according to 8 out of 12 analysts in a ...

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• 27 September

  BOE lays out stress test scenario for banks

    Bloomberg The Bank of England’s (BOE) stress tests are meant to provide an unlikely ‘tail risk’ scenario designed to test the resilience of British lenders. The current UK market turmoil means this year’s scenario is looking increasingly plausible. The scenario released amid a UK sell off includes the UK base rate rising rapidly to 6% in early 2023 before ...

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• 27 September

  Nigeria’s naira crashes to record low

    Bloomberg Nigeria’s naira declined further to record lows in both official and unauthorised markets ahead of the central bank of Nigeria rate decision. The local currency unit weakened 1.18% in early morning trading to 436.42 against the dollar in the spot market as of 9 a.m. in the commercial capital of Lagos. It slipped to 720 a dollar in ...

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• 27 September

  US proposes requiring new airline fee disclosure rules

  

  Bloomberg President Joe Biden will unveil new regulations designed to tackle persistent inflation by requiring airline companies and Internet-service providers to be more transparent about hidden fees, as the White House battles rising costs threatening Democrats’ prospects in November elections. A proposed rule requiring airlines to disclose more information about the fees they charge — such as those levied on ...

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• 27 September

  Canada to lift travel curbs from October 1

  

    Bloomberg Prime Minister Justin Trudeau’s government will let its mandatory vaccination, testing and quarantine requirements for international travellers expire at the end the month. The removal of border restrictions puts Canada alongside dozens of countries in entering a new phase of the Covid-19 pandemic by ending measures meant to slow the spread of the virus. From October 1, travellers ...

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• 27 September

  Amazon plans second Prime Day in appeal to deal-hungry shoppers

  

    Bloomberg Amazon.com Inc. will hold a second Prime Day sale on October 11 and October 12 to boost sales among cost-conscious consumers who are expected to start their holiday shopping even earlier this year. This marks the first time the e-commerce giant has hosted the event twice in the same year. Retailers are bracing for a lackluster holiday that ...

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• 27 September

  Walmart enters the metaverse with Roblox experiences

  

    Bloomberg Walmart Inc. is making its first move into the metaverse. The retailer will unveil two immersive experiences on Roblox Corp.’s virtual platform. Walmart Land will feature fashion, beauty and entertainment items, while Walmart’s Universe of Play will showcase toys, the company announced. Walmart follows companies from Nike Inc. to VF Corp. in a bid to get consumers’ attention ...

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• 27 September

  Doncaster airport to close after failing to find a buyer

    Bloomberg Britain’s Doncaster Sheffield Airport will close due to a lack of “tangible proposals” for its future ownership and financial viability. Owner Peel Group Ltd. conducted a strategic review of the airport and will wind down services from Oct. 31, it said Monday. Peel pointed to high fixed costs and uncertainty over future income in saying it couldn’t responsibly ...

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• 27 September

  Cape Town flights continue amid fuel shortage

    Bloomberg Cape Town flights are arriving and departing as scheduled, despite a fuel shortage at South Africa’s second-largest airport. After asking airlines to limit their fuel intake in Cape Town, Airports Company South Africa said on Twitter on Tuesday that it has a contingency plan to tackle the issue. The airport only has a few days of jet fuel ...

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