July, 2022

• 19 July

  Embraer sees supply chain snarls clouding 2022 jet goal

    Bloomberg Snarls along the aviation supply chain may make it a challenge for Embraer SA to meet its year-end commercial delivery targets, the Brazilian aerospace manufacturer said. “We are suffering with these supply chain constraints. We had a difficult first half,” Chief Executive Officer Francisco Gomes Neto said in an interview with Bloomberg. “We’re doing everything we can to ...

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• 19 July

  Esprit planning comeback in Asia with departure from fast fashion

  

    Bloomberg Esprit Holdings Ltd, the once high-flying Hong Kong fashion retailer before it tumbled into years of losses, is planning a comeback in Asia, pivoting away from a fast-fashion strategy where it failed to compete with brands such as Zara and H&M. The company is now focusing on better-quality clothing that’s more expensive than fast-fashion apparel but more sustainable, ...

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• 19 July

  H&M to exit Russia over current situation

    Bloomberg Swedish retailer Hennes & Mauritz AB will start winding down its operations in Russia, having halted all sales in the country in March after Russia’s attack on Ukraine. The Stockholm-based company expects to book costs of 2 billion kronor ($190 million) from the process, of which about 1 billion kronor will have a cash-flow impact, it said in ...

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• 19 July

  China adds liquidity for first time since June as risks grow

  

    Bloomberg China’s central bank injected additional liquidity into the financial system for the first time since June as a growing mortgage-payment boycott and a virus flareup leads to a sense of crisis. The People’s Bank of China (PBOC) boosted the size of its daily short-term cash operation to 12 billion yuan ($1.8 billion) from 3 billion yuan, resulting in ...

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• 19 July

  Investors bet euro will continue slide to $0.9

  

    Bloomberg The European Central Bank’s (ECB) battle to restore its credibility with the financial markets just got a whole lot harder. After a week marked by a fresh crisis in Rome, MLIV readers warn Italian debt risks hitting the danger zone once more — just as a near-imminent recession intensifies the epic plunge in the euro to levels not ...

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• 19 July

  Nordea profit beats estimates as lending growth continues

  

    Bloomberg Nordea Bank Abp’s profit beat estimates in a turbulent second quarter for financial markets, as demand for loans and rising interest rates herald higher income from lending for the biggest Nordic bank. Second-quarter net income rises 2.8% from a year earlier, to 1.05 billion euros ($1.1 billion), according to a statement on Monday. Analysts polled by Bloomberg had ...

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• 19 July

  India’s forex reserves fall to their lowest in 15-months

  

  Bloomberg India’s foreign exchange reserves dropped to their lowest in 15 months as the central bank probably stepped up its intervention to support the rupee that is testing new lows amid foreign capital outflows. The reserves falls by $8.06 billion to $580.3 billion, data released by the central bank showed. This is the second straight week of decline and comes ...

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• 19 July

  LatAm currency declines threaten more rate hikes

    Bloomberg Latin American central banks may need to extend already long and deep rate hiking cycles to shore up battered currencies that are threatening financial stability, Goldman Sachs Group Inc. analysts said in a report. The region’s currencies, notably the Chilean and Colombian pesos, “are still vulnerable to an intensification of recession fears, a deterioration of economic activity in ...

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• 18 July

  Citi profit beats as tumult spurs currencies, commodities

  

    Bloomberg Citigroup Inc is collecting a windfall from tumultuous international markets, even as a dimming economic outlook and Russia’s invasion of Ukraine pose billions of dollars in risks. The bank’s second-quarter profit soared past analysts’ estimates, driven by unexpectedly large hauls from currencies, commodities and interest-rates trading and its shuttling of corporate money over borders. Net income amounted to ...

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• 18 July

  Stocks rise with futures on receding rate bets

  

    Bloomberg European stocks and US equity futures rise, while the dollar weakened as investors scaled back bets on how aggressively the Federal Reserve will tighten policy, easing recession fears. The Stoxx Europe 600 advanced to its highest level in more than a month, led by mining and energy shares. Futures on the S&P 500 and Nasdaq 100 indices added ...

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