July, 2022

• 18 July

  IMF to cut global growth outlook ‘substantially’

  

    Bloomberg The International Monetary Fund (IMF) will cut its global economic growth outlook “substantially” in its next update, as finance chiefs grapple with a shrinking list of options to address the worsening risks. Surging food and energy prices, slowing capital flows to emerging markets, the ongoing pandemic and a slowdown in China make it ‘much more challenging’ for policymakers, …

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• 18 July

  India’s diesel, gasoline sales add to oil’s gloom

  

  Bloomberg India’s gasoline and diesel sales during the first half of July dropped from last month as seasonal rains curtailed demand in world’s third-biggest energy consumer that could help keep a lid on oil prices. The three biggest retailers sold 1.28 million tons of gasoline during July 1-15, down about 8% from the corresponding period in June, according to refinery …

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• 18 July

  Heathrow shifts from UK’s travel nightmare to Europe’s gateway

  

  Bloomberg Less than a decade ago, London’s Heathrow was the undisputed hub airport for Europe, with thousands of daily passengers and an ambitious expansion plan that included a brand new runway. Terminal 5 was still a novelty — the UK’s largest free-standing building hosted a string of glitzy shops and restaurants, including one founded by celebrity chef Gordon Ramsay. The …

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• 18 July

  Star Alliance CEO Goh to step down at year-end

  

    Bloomberg Jeffrey Goh, the chief executive officer of Star Alliance, will step down at the end of the year to pursue other interests. Goh, who has spent 16 years at the alliance including six in the top job, said he’s agreed to stay on to support the transition to the next head. An international search will be undertaken shortly …

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• 18 July

  LOT Polish Airlines close to order 60 Airbus A220s

  

    Bloomberg LOT Polish Airlines SA is close to ordering as many as 60 Airbus SE A220 jets as it looks to swap out its aging Embraer SA plane. The Warsaw-based carrier is in advanced talks with the European planemaker and while the details may change, any deal could be announced as early as next week’s Farnborough International Airshow, the …

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• 18 July

  Amazon mulls ending private-label sales

  

  Bloomberg Amazon.com Inc. has considered abandoning its private-label business as a peace offering to regulators. The company’s growing set of house brands is at the core of investigations launched by US and European regulators into whether the world’s largest e-commerce company is abusing its market power. Regulators have accused Amazon of using in-house sales data to select best-selling products sold …

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• 18 July

  Aeromexico plans US stock listing

  

  Bloomberg Grupo Aeromexico SAB, seeking a more liquid stock market, is planning to delist from the Mexican exchange and trade in New York as soon as this year. The airline’s board in June approved a plan to cancel its registration in its home country and launch a voluntary tender offer for outstanding shares. Aeromexico emerged from Chapter 11 in March …

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• 18 July

  Boeing sees slower growth

  Bloomberg Boeing Co. is tempering expectations for commercial aircraft demand in the coming decades, as the prospect of lower global economic growth and uncertainty surrounding Russia pressure jet deliveries. Manufacturers will hand over 41,170 new planes to customers through 2041, Boeing predicted in its latest long-term outlook for the commercial market. That would mark a slower pace than it saw …

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• 17 July

  UBS, Citi among banks hit by pullback of Asia’s rich clients

  

    Bloomberg A slump in client trading activity in Asia is threatening to slow a lucrative earner for the world’s biggest wealth managers. UBS Group AG and Citigroup Inc are among banks whose wealth revenues for the region likely declined by double digits in the first half. Credit Suisse Group AG, which last month warned that results in the second …

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• 17 July

  ANZ nears $3.81b deal for Suncorp’s banking unit

  

    Bloomberg Australia & New Zealand Banking group is nearing a deal to acquire Suncorp group Ltd.’s banking operations as it seeks to add customer growth, according to people familiar with the matter. An announcement could be made as soon as this week and the lender will seek to tap equity markets with a share sale to help fund the …

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