August, 2022

• 31 August

  Bed Bath & Beyond sinks after saying it may sell shares

  

  Bloomberg Bed Bath & Beyond Inc shares plunged in premarket trading on Wednesday after the home-goods retailer announced in a filing that it may offer, issue and sell shares of its common stock from time to time. Shares in the retail-trader favourite sink as much as 21% as of 6:42 am New York time, erasing an earlier gain of as ...

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• 31 August

  Ryanair sees recession threat to aviation’s winter recovery

  

    Bloomberg Ryanair Holdings Plc sees soaring inflation, Brexit-related challenges and a potential recession threatening the aviation industry’s recovery as a summer boom draws to a close. While Europe’s biggest discount carrier is maintaining plans to boost winter capacity and continues to see strong growth, the resurgence is fragile and prone to external shocks that also include an escalation in ...

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• 31 August

  Italy taps Air France-KLM, Delta for ITA Airways sale

  

  Bloomberg An investor group including Air France-KLM and Delta Air Lines Inc. looks primed to buy Italy’s fledgling state-controlled carrier, after being selected over a rival bid from a team that included Deutsche Lufthansa AG. The Rome-based Finance Ministry, which is running the process to find a new owner for ITA Airways, said on Wednesday that it will start exclusive ...

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• 31 August

  Hong Kong retail sales rise in July

    Bloomberg Hong Kong’s retail sales rose more than expected in July, reversing two months of declines as the city attempts to mount a recovery from Covid-19 curbs and other headwinds. Retail sales value rose 4.1% in July from a year ago, the Census and Statistics Department said on Wednesday. That compared to a median estimate of a 1.4% rise ...

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• 31 August

  As IPOs slump globally, all big deals are coming from China

  

    Bloomberg In a year where initial public offerings (IPOs) globally have slumped by more than two-thirds, one would expect the summer break to be especially quiet. Not so in Asia, where stock listings have notched their second-highest August haul on record. First-time share sales in the Asia Pacific region totaled $14.9 billion this month, data compiled by Bloomberg show. ...

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• 31 August

  Japan’s regulator proposes tax breaks for investors, crypto

  

    Bloomberg Japan’s financial regulator proposed easing corporate tax rules for crypto assets as well as lighter levies for individual stock investors in support of Prime Minister Fumio Kishida’s efforts to reinvigorate the economy. Companies should be exempted from paying taxes for paper gains on crypto coins that they hold after issuing them, the regulator proposed in its annual tax-code ...

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• 31 August

  EU reaches gas storage goal early despite Russian supply cut

  

  Bloomberg The European Union (EU) met its gas storage filling goal two months ahead of target as the bloc braces for a tough winter with Russia limiting supplies and energy contracts trading at elevated levels throughout the continent. European Commission President Ursula von der Leyen celebrated the milestone on Monday, telling an audience at an energy conference in Denmark that the ...

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• 31 August

  Chinese airlines suffer billions in losses during Covid-19 pandemic

  

  Bloomberg China’s big three state-owned airlines saw total losses during the Covid pandemic balloon to 127.6 billion yuan ($18.5 billion) by the end of June, as the country stuck with its zero-tolerance strategy of border restrictions and snap lockdowns. Air China Ltd. said on Tuesday its net loss in the first six months of 2022 widened 186% to 19.4 billion ...

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• 31 August

  Taiwan’s China Airlines to buy 16 Boeing 787s in $2.1 billion deal

  

  Bloomberg Taiwan’s China Airlines Ltd. ordered 16 Boeing Co. 787-9 aircraft with options for eight more and conversion rights to a higher-capacity Dreamliner jet, as it looks beyond the pandemic. The government-backed carrier announced the deal in a statement on Tuesday, weeks after US House Speaker Nancy Pelosi visited Taiwan, infuriating Beijing, which considers the island to be part of ...

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• 31 August

  Best Buy’s profit tops estimates that were cut by sliding demand

  

  Bloomberg Best Buy Co surpassed Wall Street’s profit estimate after warning a month ago that it was under pressure from waning consumer-electronics demand. Adjusted earnings fall to $1.54 a share in the fiscal second quarter, Best Buy said in a statement on Tuesday. That exceeded the $1.35 average of analyst estimates compiled by Bloomberg, which had come down sharply since ...

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