September, 2022

• 2 September

  Private jets to Ibiza, Paris surge as rich evade travel chaos

  

  Bloomberg As Europe grapples with a summer of travel chaos, the wealthiest are increasingly taking matters into their own hands. Private-jet use has surged by almost a third in recent months compared to pre-pandemic levels, stretching airport capacity from Ibiza to Mykonos and stoking a political backlash in France. London logged the most private flights — more than 12,000 in ...

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• 2 September

  Chewy stock sinks on cut to sales outlook

    Bloomberg Chewy Inc tumbled after the online seller of pet supplies cut its revenue outlook and said customer growth has slowed. Sales in the current fiscal year will total no more than $10 billion as customer pull back on discretionary goods such as toys and treats, Chewy said in a letter to shareholders. That’s down from a previous forecast ...

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• 2 September

  Taiwan shoots down drone, risks escalation with China

  

  Bloomberg Taiwan downed a civilian drone after weeks of complaints about incursions by unmanned aerial vehicles from China, a sign Taipei is pushing back against Beijing’s efforts to encroach on its territory. Taiwanese troops shot the drone down near Kinmen Island around noon Thursday after attempts to repel it failed, according to a statement from the garrison on the Taipei-held ...

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• 2 September

  Former president Rajapaksa set to return to Sri Lanka on Friday

  

    Bloomberg Sri Lanka’s Former President Gotabaya Rajapaksa is set return to the island nation as early as Friday after he fled a surge in anti-government protests in July, according to people with knowledge of the matter. Rajapaksa is expected to stay in a house provided by the government in Colombo, the people said, asking not to be named because ...

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• 2 September

  IAEA team reaches besieged nuclear plant in Ukraine

  

  Bloomberg Foreign monitors arrived at a nuclear plant held by Russian forces in Ukraine, even as shelling reported in the area threatened to put their high-stakes mission at risk. International Atomic Energy Agency Director General Rafael Mariano Grossi said Thursday that Ukrainian defense officials had warned his team of increased military activity in the so-called “gray zone” separating Kyiv’s territory ...

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• 2 September

  Russia plans to buy $70 billion in yuan, other ‘friendly’ currencies

  

  Bloomberg Russia is considering a plan to buy as much as $70 billion in yuan and other “friendly” currencies this year to slow the ruble’s surge, before shifting to a longer-term strategy of selling its holdings of the Chinese currency to fund investment. The offshore yuan briefly extended gains against the dollar after the news, rallying to a session high. ...

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• 2 September

  Japanese yen falls to its lowest since 1998

  

    Bloomberg The yen declined to its lowest since 1998, prompting warnings from Japanese government officials, as the yield gap between the US and Japan widened to heap more pressure on the currency. It falls as much as 0.5% to 139.68 per dollar in Thursday trading — a hair’s breadth from the key psychological level of 140, before paring the ...

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• 2 September

  China’s mega banks hit by margin squeeze

  

    Bloomberg China’s biggest banks, including Industrial & Commercial Bank of China Ltd., reported slowing earnings growth and eroding margins after being enlisted by Beijing to help stave off a deeper slump in the world’s second-biggest economy. ICBC, the world’s biggest bank by assets, reported net income grew 4.9%, the slowest in two years, in the first half of the ...

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• 2 September

  Chinese stock’s 13,000% surge creates another US IPO mystery

  

    Bloomberg Another Chinese firm is baffling investors with massive gains on its first day of trading in the US, following on from stellar debuts for AMTD Digital Inc. and Magic Empire Global Ltd. Addentax Group Corp. soared as much as 13,031% on Wednesday in its debut session, triggering more than 20 volatility halts. Its market capitalisation has ballooned to ...

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• 2 September

  Stocks, bonds extend selloff; dollar gains

  

  Bloomberg Stocks and bonds extended their selloff on Thursday as a hawkish drumbeat from central banks and a lockdown in China further frayed investor nerves. The dollar gained. A global equity index hit a six-week low as Nasdaq 100 futures fall after a sales warning from Nvidia Corp. Miners led declines in Europe as commodities dropped amid concerns that aggressive ...

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