September, 2022

• 23 September

  Bitcoin erases drop triggered by Fed’s warning of rate-hike

  

  Bloomberg Cryptocurrencies fought off declines triggered by another large Federal Reserve interest-rate hike, though sentiment remained cautious given the central bank’s warning of economic pain ahead from tightening policy. Bitcoin, the largest token, was about 1.2% higher in London after earlier sliding as much as 4% towards levels last seen in 2020. Second-biggest coin Ether continued to underperform, shedding 2%. ...

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• 22 September

  Amazon Air cargo flights grow at slowest pace since pandemic

  

    Bloomberg Amazon.com Inc’s cargo airline is growing at the slowest pace since the start of the pandemic, the latest sign that the e-commerce giant is adjusting to slackening demand. Amazon Air freighters averaged about 194 flights a day during a week earlier this month, up 3.8% from March, according to researchers with DePaul University’s Chaddick Institute for Metropolitan Development. ...

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• 22 September

  JD Sports to pay ex-CEO Cowgill $6.3m after exit

  

    Bloomberg JD Sports Fashion Plc will pay former boss Peter Cowgill at least £5.5 million ($6.3 million) as part of an exit deal after he was ousted in May amid concerns over the company’s governance practices, including a meeting he held in a parking lot with the head of a rival company. As part of the accord Cowgill is ...

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• 22 September

  American CEO wants rockets, private jets to help fund FAA

  

    Bloomberg The air up there is getting crowded — and at least one major airline says other users need to pay their fair share. Companies launching rockets and satellite payloads, along with private jet operators need to pay — or pay more — to fund the nation’s monitoring grid for flights, which is seeing an uptick in airborne vehicles, ...

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• 22 September

  Indonesia’s HappyFresh wins funding, revamps board

  

    Bloomberg HappyFresh has secured funding from investors to resume online grocery operations in Indonesia, staving off a potential cash crunch fomented by the regional economic slowdown. The Instacart-style grocery delivery service said it’s restarting operations in its home market, after a strategic review. It will work with venture debt funds Genesis, Innoven and Mars on restructuring the business, HappyFresh ...

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• 22 September

  M&S to spend $17m to help staff in cost-of-living crisis

    Bloomberg Marks & Spencer Group Plc will spend £15 million ($17 million) to support employees struggling with Britain’s spiraling cost of living. The retailer said that it plans to boost hourly wages to at least £10.20 from £10, its second pay rise this year, while providing one-time £250 M&S vouchers to 4,500 workers. Other measures include free meals every ...

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• 22 September

  Home Depot workers file union petition

  Bloomberg Home Depot Inc employees based in Philadelphia have filed a petition to unionise, according to a National Labor Relations Board filing, a rare move at the home-improvement retailer amid a growing nationwide labor movement. The 274 employees included in the petition work in merchandising, specialty and operations associates, according to the NLRB filing. The petition was originally filed earlier, ...

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• 22 September

  Britain looks at QE change to avert £10bn payout to banks

  

  Bloomberg UK Prime Minister Liz Truss’s new government has looked at changing the Bank of England’s (BOE) money-printing program to save the UK taxpayer billions of pounds at a time when the public finances are under increasing strain. Under the option, interest paid on some deposits held by commercial lenders at the BOE would be scrapped, potentially saving more than ...

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• 22 September

  RBC merges tech banking, ventures under ‘RBCx’

  

    Bloomberg Royal Bank of Canada (RBC) is merging its RBC Ventures partnership group with its RBCx technology banking and innovation arm in a bid to capture more business from entrepreneurs at all stages of their startups’ growth. Sid Paquette, who has led both RBCx and Ventures since April, will head the combined business, the Toronto-based bank said in a ...

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• 22 September

  Rakuten to pick Goldman, Daiwa for banking IPO

  

    Bloomberg Rakuten Group Inc has chosen Goldman Sachs Group Inc and Daiwa Securities Group Inc as lead managers for its banking unit’s initial public offering, people familiar with the matter said, as the online retailer chases fintech growth to counter mounting losses. Rakuten is preparing to list its banking unit with a valuation of around 300 billion yen ($2.1 ...

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