September, 2022

• 27 September

  UK markets lost over $500 billion since Liz Truss took over as PM

  

    Bloomberg The UK’s stock and bond markets have lost at least $500 billion in combined value since Liz Truss took over as Prime Minister, with investor confidence shattered by a shock tax-cutting budget. Taking the helm at a time when the UK economy was already grappling with the specter of recession, the Truss government’s new fiscal policies fuelled concerns ...

  Read More »
• 27 September

  Futures rise, pound gains as global selloff pauses

  

    Bloomberg Global markets remained on edge on Tuesday as investors braced for a heightened risk of global recession, even as dip buyers emerged. Most stocks rise as Goldman Sachs Group Inc. and BlackRock Inc. soured on equities for the short term and Citigroup Inc. said bearish positioning continues to rise. Tech giants including Apple, Amazon.com and Alphabet advanced more ...

  Read More »
• 27 September

  Oil falls as ‘wrecking ball’ dollar piles on commodity losses

  

    Bloomberg Oil reversed course as the dollar shed some of its strength and risk-on sentiment lifted equity markets. The global oil benchmark rose 1% to trade near $87 a barrel on Monday. Earlier, Brent slipped below $85 a barrel and West Texas Intermediate falls below $80 as the dollar hit an all-time high, which makes commodities priced in the ...

  Read More »
• 27 September

  EU to discuss feasibility of price caps on natural gas

    Bloomberg The European Union’s executive arm plans to discuss the feasibility of imposing a price cap on natural gas in a document to be presented to member states Wednesday, postponing the publication of a broader action plan on how to deal with soaring costs of the fuel. The European Commission is under pressure from the bloc’s 27 governments to ...

  Read More »
• 27 September

  Aldi trading accelerates as UK shoppers seek savings

  

    Bloomberg Aldi said that more British customers are visiting the discount grocery chain as their first and only supermarket as the higher cost of living weighs on shoppers in the UK. The grocer attracted 1.5 million extra customers over the past 12 weeks and sales of its gourmet Specially Selected range rose 29% as shoppers switched from more expensive ...

  Read More »
• 27 September

  UK air taxi startups lifts off for first time in UK

  

    Bloomberg Vertical Aerospace Ltd.’s prototype electric air taxi lifted off for the first time this weekend and the company reiterated it was confident that the aircraft will be certified by 2025. The VX4 electric vertical take-off and landing, or eVTOL, vehicle rose in a so-called tethered hover test, in which the aircraft was still attached to the ground for ...

  Read More »
• 27 September

  McDonald’s hikes Japanese menu prices on plunging yen, inflation

  

  Bloomberg McDonald’s Holdings Co Japan will raise menu prices for the second time this year, joining a growing number of businesses passing on the impact of the weakening yen and the highest inflation in decades to the consumers. The fast-food chain will raise the price of about 60% of its products by 10 to 30 yen ($0.07-$0.21) from September 30, ...

  Read More »
• 27 September

  Garuda files for Chapter 15 in US as it seeks path to profit

    Bloomberg PT Garuda Indonesia filed for Chapter 15 bankruptcy protection in the Southern District of New York court, as the debt-laden carrier tries to secure its future profitability. The document is dated September 23. The submission comes as the airline, having completed a court-supervised debt restructuring in Indonesia to halve cut its debt load, tries to capitalise on the ...

  Read More »
• 27 September

  Unilever CEO Jope to retire at end of 2023

    Bloomberg Unilever Chief Executive Officer (CEO) Alan Jope plans to retire at the end of next year following a tumultuous period where the company botched a potential $53 billion deal and irked investors with lackluster growth. Jope, 58, a long-term veteran of the consumer goods company, will leave after only five years in the role, with no named successor ...

  Read More »
• 27 September

  Apple begins making iPhone 14 in India ahead of schedule

  

  Bloomberg Apple Inc began making its new iPhone 14 in India sooner than anticipated, after a surprisingly smooth production rollout that slashed the lag between Chinese and Indian output from months to mere weeks. The US tech giant made the announcement on Monday, weeks after the marquee device’s September 7 unveiling. It had worked with Foxconn Technology Group, its most ...

  Read More »