August, 2022

• 3 August

  Indonesia keeps dovish tone on steady core CPI

  

    Bloomberg Indonesia’s central bank continued to build the case to keep its policy rate unchanged for longer, as it sees subsiding food costs and slower global monetary tightening. “Bank Indonesia will continue to normalise monetary policy, but there is no need to quickly raise interest rates like other countries,” Governor Perry Warjiyo said in a briefing. Core inflation is ...

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• 3 August

  Credit card spending soars as US consumers battle inflation

  

  Bloomberg Mastercard Inc. said spending on its network jumped 18% as US consumers battle once-in-a-generation levels of inflation. Payment volume soared to $1.65 trillion in the second quarter, topping the $1.64 trillion average of analyst estimates in a Bloomberg survey. The company boosted its forecast for revenue growth for the year after it reported a 58% surge in overseas payments ...

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• 2 August

  Stocks decline as US-China tension stirs haven demand

  

  Bloomberg Stocks and US equity futures slid on Tuesday amid escalating US-China tension over Taiwan and deepening worries about a global economic slowdown, driving investors into the safety of government bonds. The Stoxx Europe 600 falls 0.6%, with energy among the few industries bucking the trend after BP Plc hiked its dividend and accelerated share buybacks to the fastest pace ...

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• 2 August

  Goldman Sachs warns against being ‘too early’ in fading recession risk

  

  Bloomberg Investors may be getting overconfident in betting the Federal Reserve may cut interest rates sooner to bolster a flagging US economy, according to Goldman Sachs Group Inc. strategists. “Looking at the re-pricing of cyclical assets in the US and EU, we think the market might have been too complacent too soon in fading recession risks on expectations of a ...

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• 2 August

  Lufthansa faces more turmoil as pilots back possible strikes

  

  Bloomberg Deutsche Lufthansa AG may face further disruption after its pilots voted for strikes if they’re considered necessary to force a wage deal, a move that could unleash another wave of cancellations unless the airline’s negotiators and labour representatives can settle their differences. The VC pilots union voted overwhelmingly in favour of walkouts, meaning Lufthansa could be hit with stoppages ...

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• 2 August

  Boeing submits new contract before strike

  

    Bloomberg Boeing Co has put forward a modified contract for about 2,500 union members at three defense locations near St Louis, days after the workers voted to reject a previous draft and begin a strike. “This new offer builds on our previous strong, highly competitive one and directly addresses the issues raised by our employees,” a Boeing spokesperson said ...

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• 2 August

  Walmart finds new way to take on Amazon amid soaring prices

  

    Bloomberg Walmart Inc has a new sales pitch for consumers contending with soaring prices: Buy used goods. A new “Walmart Restored” program will make it easier to shop for refurbished items from the likes of Apple Inc, Samsung Electronics Co and Whirlpool Corp’s KitchenAid, the retail giant said in a statement. The restored merchandise will be available online and ...

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• 2 August

  Prada’s H1 revenue rebounds on sales

  

  Bloomberg Prada SpA reported a rebound in first-half revenue backed by strong performances in Europe and the Americas, as luxury company results continue to show resilience despite lockdowns in China and soaring inflation. The Italian fashion house said in a statement that it remains confident on medium-term targets despite macroeconomic uncertainty, citing the global health situation, the rate of recovery ...

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• 2 August

  UK greenwashing probe targets fashion brands

  

    Bloomberg The UK’s competition watchdog started a probe into potentially misleading environmental claims made by fashion brands Asos Plc, Boohoo Group Plc and George at Asda, over greenwashing concerns. The Competition and Markets Authority (CMA) said it opened an investigation into the three fashion brands “to scrutinise their ‘green’ claims,” saying it’s concerned that clothes, footwear and accessories are ...

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• 2 August

  Vinci agrees deal for 30% stake in Mexico’s OMA

    Bloomberg Vinci SA has agreed to buy Fintech Advisory Inc’s 30% stake in Mexican airport operator Grupo Aeroportuario del Centro Norte SAB. The French concessions and construction company will become the leading shareholder in the operator, known as OMA, it said in a statement that confirmed an earlier Bloomberg News report. The deal is valued at about $815 million, ...

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