August, 2022

• 25 August

  Kenya Airways aims 35% reduction in leasing costs

  

    Bloomberg Kenya Airways Plc is looking to reduce jet-leasing costs by more than a third as the carrier targets break even by 2024. Negotiations with lessors has so far led to a 19% cut in overall rental costs, Chief Executive Officer Allan Kilavuka said on Wednesday during a virtual briefing. The move is part of a wider restructuring following ...

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• 25 August

  ExpressJet files for bankruptcy in wake of split from United Airlines

  

    Bloomberg ExpressJet Airlines, a small regional carrier that was once among the world’s biggest by fleet size, filed for bankruptcy with plans to liquidate after ceasing operations. The company, based in Georgia, listed assets and liabilities of no more than $50 million each in its bankruptcy petition. ExpressJet laid off most of its workforce prior to filing for bankruptcy, ...

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• 25 August

  Nordstrom falls after cutting its full-year earnings forecast

  

    Bloomberg Nordstrom Inc, which investors saw as insulated by its affluent customer base, sank after trimming its full-year outlook as the retailer’s Rack business slows amid lower demand and inventory buildup. The department-store operator lowered its forecast for full-year sales to a range of 5% to 7%. That one-percentage-point cut comes just three months after Nordstrom had raised its ...

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• 25 August

  British supermarkets phase out expiration dates on food items

    Bloomberg UK supermarkets are phasing out expiration dates on a range of perishable items in favour of good old-fashioned shoppers’ judgment. And while the chain retailers say the move will save customers money and cut waste, it marks a new turn in a grim consumer battle with rampant inflation. Asda, Co-Op, Morrisons, Waitrose, Tesco and Marks & Spencer Group ...

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• 25 August

  Dublin Airport opens new runway

    Bloomberg Dublin Airport was expected to finally open its new runway in a move that is hoped will reduce delays following a summer of long queues and travel disruption across Europe. The first flight from the north runway was planned to take off on Wednesday between 11.30am and 12.30pm, with an introductory morning schedule starting from August 25. Airports ...

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• 25 August

  Biden pledges $3b to Ukraine in largest military aid package yet

  

  Bloomberg US President Joe Biden announced a $2.98 billion weapons and equipment package for Ukraine on the six-month anniversary of Russia’s invasion, the biggest tranche of American security assistance to date. The announcement came as Ukraine celebrates the anniversary of its independence from the Soviet Union in 1991. The White House said the latest package will allow Ukraine to purchase ...

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• 25 August

  US airstrikes target Iranian-backed groups in eastern Syria

  

  Bloomberg US forces carried out airstrikes in Syria against groups tied to Iran’s Islamic Revolutionary Guard Corps, US Central Command said, a move that comes as Washington and Tehran weigh a new nuclear agreement. The strikes at Deir ez-Zor in eastern Syria were “intended to defend and protect US forces from attacks like the ones on Auguat 15 against US ...

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• 25 August

  Thai court suspends PM Prayuth, stoking intrigue as vote nears

    Bloomberg Eight years ago, then-army chief Prayuth Chan-Ocha staged a coup in Thailand and ripped up the constitution. On Tuesday, he was suspended as prime minister until a court determines whether he violated the new charter produced by his allies. The surprise action by Thailand’s Constitutional Court puts Prayuth on the sidelines at least temporarily until it rules on ...

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• 25 August

  India’s Modi nuclear push gains traction with new plants on way

    Bloomberg India’s largest power producer is looking to develop another massive nuclear project just weeks after announcing its entry into the sector, a sign that Prime Minister Narendra Modi’s expansion into atomic energy is gaining momentum. A venture between NTPC Ltd., which relies mostly on coal to supply energy to the world’s fastest growing population, and India’s monopoly nuclear ...

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• 25 August

  China plans $29bn in special loans to troubled developers

  

    Bloomberg China will offer 200 billion yuan ($29.3 billion) in special loans to ensure stalled housing projects are delivered to buyers, people familiar with the matter said, ramping up financing support for its beleaguered property sector. The previously unreported size of the lending program, which was announced with scant details by China’s housing ministry, finance ministry and the central ...

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