September, 2022

• 27 September

  Oil markets are volatile but not broken

  

  Oil markets are broken. Extreme volatility and a lack of liquidity mean that crude futures have become disconnected from tight physical oil markets. At least that’s what some loud voices in the oil world are telling us. But I suspect they may be talking their own books. Complaining that markets are broken suggests to me that somebody has traded on ...

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• 27 September

  Why investors are facing more market instability

    Frequent flyers are accustomed to turbulence on some flights. Indeed, many expect it. Despite such anticipation, however, the turbulence can once in a while create significant anxiety among even the most seasoned travelers. This is what happened in markets last week. The “expected” turbulence, related in large part to three continuing paradigm shifts, was turbocharged by two less-anticipated factors, ...

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• 27 September

  Financial markets tell Truss she’s not trusted

    On Friday, Britain’s government announced a shift in fiscal policy aimed, it said, at stimulating growth and investment. If the new prime minister, Liz Truss, was expecting financial markets to applaud this bold initiative, she’ll have been disappointed. Investors handed her a stunning rebuke. Interest rates soared and sterling slumped to a 37-year low — a combination expressing zero ...

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• 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 ...

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• 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 ...

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• 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, ...

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• 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 ...

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• 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 ...

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• 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 ...

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• 27 September

  Meloni strikes moderate tone after Italy vote win

  

  Bloomberg Giorgia Meloni struck a conciliatory tone after her election win, pledging to govern for all Italians as she was poised to lead the country’s most right-wing government since World War II. Meloni’s coalition, which includes Matteo Salvini’s League and Silvio Berlusconi’s Forza Italia parties, was credited with about 44% of votes in Sunday’s elections, according to preliminary results from ...

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