September, 2022

• 15 September

  Congress won’t let a rail dispute cripple the US

    The US transportation system is already starting to feel the effects of a potential rail strike, but any pain will be short-lived no matter how far apart the sides are at a Friday deadline because Congress will not allow supply chains to seize up again. Just after midnight Thursday, rail workers can go on strike or railroad management can ...

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• 15 September

  Swiss shoe brand launches resale site in its green push

  

    Bloomberg The Swiss athletic brand On is launching a resale site, making it the latest company to enter the fast-growing apparel resale market. On Holding AG, which is backed by tennis star Roger Federer, went public last year and expects to see net sales of 1.1 billion Swiss francs ($1.1 billion) in 2022. The company has made sustainability a ...

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• 15 September

  Germany sells full stake in Lufthansa at $760m profit

  

  Bloomberg Germany raised 760 million euros ($760 million) from the sale of the state’s full stake in Deutsche Lufthansa AG, unwinding all of the holding it took to keep the flagship carrier afloat during Covid-19 lockdowns. The country’s Economic Stabilization Fund, or WSF, disposed of its remaining 9.92% of Europe’s largest airline via a placement with international investors, according to ...

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• 15 September

  Investors left empty-handed in IndiGo block trade over rules

  

    Bloomberg Investors who attempted to participate in the 20.5 billion-rupee ($258 million) share sale in India’s largest airline IndiGo were left empty-handed due to a feature of the country’s trading rules that has long been a source of frustration for institutional fund managers. None of the investors lined up by the banks working on billionaire Rakesh Gangwal’s sale of ...

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• 15 September

  Rex eyes nationwide air network as Qantas struggles

  

    Bloomberg Australian airline Rex plans to add more Boeing Co 737s within months, giving it enough jets for a nationwide network of intercity routes as it seeks to steal business away from troubled Qantas Airways Ltd. Rex, best known for flying small propeller-driven aircraft between regional towns, is fast building out a new jet division plying busy domestic routes ...

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• 15 September

  Zara’s US clothing sales help swell top line as dollar surges

    Bloomberg The dollar’s long rally against the euro this year has proved a godsend for the owner of the Zara brand by swelling the value of revenue from its US garment sales when converted into euros. While it’s lost some ground over the past week, the greenback has gained more than 13% against the euro this year, boosting European ...

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• 15 September

  France to cancel half of flights on staff strike

    Bloomberg France’s civil aviation authority told airlines to cut half of their flights due to a planned strike by air-traffic controllers, bringing disruption back to the country’s airports after a difficult summer. The DGAC’s guidance came in response to a walkout called for September 16 by the SNCTA union, the authority said in an emailed statement. Minimum service rules ...

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• 15 September

  Xi unlikely to throw Putin a lifeline in Ukraine quagmire

  

    Bloomberg Shortly before invading Ukraine in February, Vladimir Putin and Xi Jinping declared a “no limits” friendship. Yet even as his forces suffer humiliating losses on the battlefield, Russia’s president shouldn’t expect much help at his first meeting with his Chinese counterpart since then. Xi and Putin meet face-to-face in Uzbekistan on Thursday in their first sitdown since a ...

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• 15 September

  US seeks to sidestep Taliban in $3.5 billion Afghan aid plan

  

  Bloomberg The US will put $3.5 billion in Afghanistan’s central bank reserves under the control of a Swiss-based oversight board to pay for limited financial services in the country while ensuring the Taliban regime doesn’t get access to the money, the US Treasury Department said. The funds, which the US froze after the Taliban takeover of Afghanistan last year, will ...

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• 15 September

  Zelenskiy visits largest city reclaimed from Russia

  

  Bloomberg Ukrainian President Volodymyr Zelenskiy visited the newly recaptured city of Izyum on Wednesday, an appearance that underlined the stunning success of a counteroffensive against Russian forces in the country’s northeast. The unannounced visit appeared to belie claims from Moscow that parts of Izyum, which had been a critical staging post for Russian weapons and troops fighting in the eastern ...

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