September, 2022

• 21 September

  Apollo wades in where Amazon fears to tread

  

    After Amazon.com Inc, it’s the turn of Apollo Global Management Inc to wade into the jungle that’s corporate governance in India. It has sued a Mumbai-based warehousing firm in which it owns a large stake. The cause of the dispute vanished when the company dropped a controversial plan to sell its business. But the US shareholder, whose rejection of ...

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• 21 September

  Facebook, beware as metaverse is flat

  

  In a few weeks’ time, Mark Zuckerberg will announce a new virtual reality (VR) headset from Meta Platforms Inc. Embarrassingly, we already know what it will look like. A video of the purported device has been doing the rounds online after someone found one in a hotel room. Yet none of that should matter because whizzy VR headsets are becoming ...

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• 21 September

  Are Hong Kong bankers quiet quitting now?

    Quiet quitting, where you don’t quit the job but no longer subscribe to the culture that work is your life, is alien to Hong Kong’s diligent finance worker bees. But conditions are ripe for them to stop hustling for a while. Say no to 12-hour days and late-night conference calls. This year, few are expecting blow-out bonuses that would ...

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• 21 September

  Rate-hike fears hitting people where they live

    Wednesday’s meeting of the Federal Open Market Committee is dominating all discussions. That’s inevitable. But if there’s one area where the Fed’s monetary policy could wreak changes, and where many Americans fear that it will, it is on housing. The latest diffusion index of homebuilders’ confidence produced by the National Association of Home Builders was published. It’s easy to ...

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• 21 September

  Companies choosing flights on price rather than loyalty plans

  

    Bloomberg Flying business class has always been beyond the means of most fliers. Now even companies can’t afford fares that have soared as the world tries to reconnect in the wake of Covid. A return business-class flight on the longest routes, between New York and Sydney, for example, can cost more than $20,000, about double the price from pre-pandemic ...

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• 21 September

  Boeing holds fresh talks with China regulator on 737 Max comeback

  

    Bloomberg Boeing Co and China’s aviation authority held a meeting to evaluate the 737 Max aircraft, which hasn’t been fully approved to return to commercial service in the country despite flying again in most other markets. The talks were held in Zhoushan in eastern China, according to CAAC News, the media arm of the Civil Aviation Administration of China. ...

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• 21 September

  Ralph Lauren sees faster growth on high pricing, new customers

  

  Bloomberg Ralph Lauren Corp is targeting sales growth over the next three years that’s faster than Wall Street’s estimates, with the fashion brand aiming to pick up new customers and continuing to raise prices. The New York-based apparel company is targeting revenue growth in the mid-to-high single digits in each of the next three fiscal years, including the current one, ...

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• 21 September

  Sports Direct owner loosens his grip on Frasers Group

  

    Bloomberg Mike Ashley is stepping down from the board of Frasers Group Plc four decades after he founded his retail business and just months after son-in-law Michael Murray became CEO of the Sports Direct-owner. The 58-year-old Ashley still holds an almost 70% stake in Frasers and said he remains “100% committed” to the business even though he won’t seek ...

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• 21 September

  US Halloween spending to hit $10.6b: NRF

    Bloomberg With the pandemic waning, the US is gearing up for pre-pandemic levels of trick-or-treating, despite inflation levels not seen for 40 years. Undeterred by soaring prices, 69% of consumers are planning to celebrate Halloween this year compared with 68% in 2019, the National Retail Federation (NRF) said. A survey commissioned by the trade group found that consumers plan ...

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• 21 September

  Russia’s Putin hurries to annex occupied Ukraine as Kyiv gains

  

  Bloomberg The Kremlin is moving hastily to stage sham votes on annexing the regions of Ukraine its forces still control, after Kyiv’s military drove Russian troops from large areas of territory taken in their seven-month-old invasion. The so-called Donetsk and Luhansk People’s Republics, as well as Kherson, may hold their votes as soon as this weekend, Interfax quoted officials as ...

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