July, 2022

• 30 July

  Spain seeks to tax lenders for windfall profits

    Bloomberg Spain is seeking to tax banks for windfall profits made from net interest and fees charged to clients, in the boldest move against lenders by any major European Union nation to offset the impact of a worsening cost-of-living crisis. A bill introduced to parliament aims to set a 4.8% tax on Spanish banks. It also seeks to charge ...

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• 30 July

  Yen roars back as hedge funds cut, run from big macro short

  

    Bloomberg The yen catapulted higher against major peers as lowered expectations for rate hikes caused hedge funds to cover short bets from one of the biggest global macro trades of the year. In early trading the yen strengthened more than 1% to 135.11 per dollar, as hedge funds liquidated long positions in the greenback, according to Asia-based currency traders. ...

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• 30 July

  Gloom returns to China stocks with worst monthly loss in year

  

    Bloomberg Chinese stocks plunged on Friday to cap a brutal month which marked the return of almost all the worries that have spooked investors for much of the past one year. From signs of renewed crackdown on the tech sector to an escalation of the crisis engulfing property developers and a rebound in Covid-19 cases, traders have had to ...

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• 30 July

  Climate deal spurs record gains for renewable stocks

  

  Bloomberg Renewable stocks notched record gains following a landmark climate deal struck by US Senators Joe Manchin and Chuck Schumer. Sunrun Inc., the largest US residential-solar installer, jumped as much as 34%, the most on record. TPI Composites Inc., which makes wind-turbine blades, climbed as much as 38% in its biggest gain ever. Rooftop-solar company Sunnova Energy International Inc. surged ...

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• 29 July

  Airbus cuts its delivery target, slows ramp up on supply woes

  

    Bloomberg Airbus SE cut its delivery goal and slowed a ramp up in production of its best-selling narrow-body model as supply-chain issues afflicting everything from engines to microchips show no sign of easing. The world’s biggest planemaker now aims to hand over around 700 aircraft in 2022, compared with an earlier target of 720, it said in a statement. ...

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• 29 July

  Ryanair’s Spanish crew plan months of strikes

  

  Bloomberg Ryanair Holdings Plc’s Spain-based cabin crew plan to strike for four days a week over the next five months in a major escalation of a dispute over pay at Europe’s largest discount carrier. The SITCPLA and USO unions have called 24-hour walkouts from August 8 until January 7, according to a statement. A SITCPLA representative said it had “no ...

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• 29 July

  JetBlue nears agreement to buy Spirit after Frontier falls short

  

  Bloomberg JetBlue Airways Corp was close to an agreement to buy Spirit Airlines Inc, according to people familiar with the matter, swooping in hours after Spirit ended a pending merger with Frontier Group Holdings Inc on a lack of shareholder support. An accord was expected to be announced as soon as Thursday, said the people, who asked not to be ...

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• 29 July

  Singapore Airlines swings to profit as demand roars back

  

  Bloomberg Singapore Airlines Ltd swung to a profit in the three months through June, as the end of travel restrictions across most of the world sparked a surge in demand for flights. The airline said in a statement that it posted net income of S$370 million ($268 million) in the quarter, compared with a loss of S$409 million in the ...

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• 29 July

  SpiceJet shares slump as India cuts flights on safety issues

    Bloomberg SpiceJet Ltd tumbled in Mumbai trading after India’s aviation safety regulator limited the number of seats the budget carrier can sell at 50% for eight weeks following several mid-flight incidents, a move that could severely hurt its ability to earn money. SpiceJet shares fell as much as 9.7% on Thursday, the biggest intraday decline since May 6 and ...

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• 29 July

  Glossier strikes deal with Sephora

    Bloomberg Glossier, the direct-to-consumer beauty brand, is joining forces with Sephora to mass market its popular products. The deal is the brand’s first-ever partnership with a retailer. Beginning early next year, Glossier will appear in stores across the US and Canada and will be sold on Sephora.com and the Sephora app, Glossier said in a statement. The move looks ...

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