August, 2022

• 31 August

  Russia can be pressured to exit Ukraine nuclear plant

  

    Two decades ago, I spent more than two years sleeping a few decks above eight nuclear reactors onboard the Enterprise, the US Navy’s oldest nuclear-powered aircraft carrier. I was the rear admiral in command of the Enterprise’s strike group, and “broke my flag” and sailed to a long combat deployment. I didn’t lose much sleep thinking about those reactors, ...

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• 31 August

  Worry about inflation as much as jobs

  

  Labor markets might not be nearly as tight as they seem from employment data. That’s a headache for banks trying to judge the risks of an uptick in borrowers’ repayment problems. Traditionally, what matters most for banks lending to consumers is unemployment because it can lead to disastrous drops in income for debtors. That’s why it’s one of the first ...

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• 31 August

  Credit Suisse’s outsiders need to be brave, brutal

    Credit Suisse Group AG’s poaching of Dixit Joshi from Deutsche Bank AG to become its new chief finance officer means the Swiss bank now has outsiders in three top executive roles. They all have plenty of experience fixing problems in their former roles. The new leadership team should have the cool ruthlessness to make unbiased decisions about what Credit ...

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• 31 August

  As gas prices soar, the UK needs a real energy plan

    As Russia’s war with Ukraine plods on, a pincer movement is advancing toward UK households this winter. The price of natural gas has doubled since April and is about seven times what it was a year ago. High gas prices boost electricity costs, which in turn push up the price for manufacturing inputs, food and pretty much everything else. ...

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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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• 31 August

  France’s Auchan sticks to Russia despite demand slowdown

  

  Bloomberg Auchan Retail plans to keep its Russian operations going even though the division is likely to be unprofitable and the country’s invasion of Ukraine continues amid global condemnation. The French grocer is experiencing a “marked slowdown in activity” in Russia that began in the second quarter, Auchan Retail Chief Financial Officer Ludovic Delcloy told analysts and journalists during a ...

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• 31 August

  US consumer confidence rises

    Bloomberg US consumer confidence rose by more than forecast in August to the highest since May, suggesting that Americans are growing more optimistic about the economy amid falling gas prices. The Conference Board’s index increased to 103.2 from a downwardly revised 95.3 reading in July, the first increase in four months, data on Tuesday showed. The median forecast in ...

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• 31 August

  Biden administration readies $1.1billion arms sale to Taiwan

  

  Bloomberg The Biden administration is preparing to sell $1.1 billion in missiles and radar support to Taiwan, according to an official familiar with the matter, in what would be the largest such transfer in almost two years. The package would include as much as $650 million in continued support for a surveillance radar sold earlier, about $90 million for roughly ...

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