July, 2022

• 1 July

  Asian central banks spend billions to slow currency declines

  

  Bloomberg After years of building their foreign-exchange reserves, central banks in Asia are tapping into their stockpiles to bolster their weakening currencies against a rising US dollar. Thai reserves slid to $221.4 billion as of June 17, in data released late last week. That was the lowest in more than two years. Monthly figures show that Indonesia’s stash is at …

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• 1 July

  Bitcoin rally falters as inflation fears weigh on crypto assets

  

  Bloomberg Bitcoin, fresh off its biggest-ever monthly decline, whipsawed traders with wild swings on Friday as digital assets struggle to regain their footing. The largest token rallied as much as 11.3% in Asia on Friday, briefly closing in on the $21,000 level. Bitcoin then quickly gave up most of those gains, trading around $19,400 at 11:30 am in London. June’s …

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• 1 July

  US stock futures fall

  

  Bloomberg US equity futures fall as risk aversion lifted bonds and havens following epochal six-month losses across major markets. Contracts on S&P 500 and Nasdaq 100 pointed to extended declines for US stocks after the S&P 500 suffered its biggest first-half drop in over 50 years. The 10-year US Treasury yield slid below 3% to the lowest since early June. …

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• 1 July

  Bed Bath & Beyond’s recovery hopes fade as Cohen hangs in

  

    Bloomberg Mark Tritton was supposed to be the savior for Bed Bath & Beyond Inc — a hotshot executive from Target Corp who knew how to charm customers with in-house brands and train stores on handling online and in-person orders. But the chief executive officer never saw the fruits of his labour, and the home-goods retailer watched its sales …

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• 1 July

  Delta Air Lines offers free rebooking for ‘July Fourth’

  

    Bloomberg Delta Air Lines Inc, which has struggled with flight delays and cancellations this summer, is letting passengers change their travel plans for the “potentially challenging” Fourth of July holiday weekend without having to pay a fare difference. The “unique” waiver is available across Delta’s system for trips July 1 through 4, as long as customers travel between the …

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• 1 July

  London, Paris airports slashing more flights over travel turmoil

  

    Bloomberg London Heathrow and Paris-Charles de Gaulle airports are cutting more flights as Europe’s travel chaos continues into the summer. Heathrow asked airlines to cut 30 flights from their schedules amid concern that peak passenger numbers will exceed the level it can safely handle. France’s civil aviation authority has ordered a 17% reduction in flights out of Paris-Charles de …

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• 1 July

  Spirit again delays vote on Frontier merger, eyes more talks

  

    Bloomberg Spirit Airlines Inc delayed a shareholder vote on its proposed merger with Frontier Group Holdings Inc less than 24 hours before it was scheduled, saying management needs more time for talks with its favored partner and rival suitor JetBlue Airways Corp. Spirit, which rescheduled the meeting for July 8, will continue soliciting shareholder proxies for the ballot, according …

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• 1 July

  Irish army on standby for Dublin Airport to assist

    Bloomberg Ireland is putting the army on standby to help alleviate staffing issues at Dublin Airport if the hub is hit by more shortages in the coming weeks. The army will be made available if needed to assist the Dublin Airport Authority during the peak holiday season of July and August, Transport Minister Eamon Ryan told RTE Radio. The …

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• 1 July

  Hello Kitty owner soars on China deal

    Bloomberg Shares of Sanrio Co, the brainchild behind the Hello Kitty franchise, surged in Tokyo after the company signed a licensing deal with a unit of Alibaba Group Holding Ltd that will expand its reach in China. Shares rose as much as 15%, the biggest intraday gain in more than a decade, on trading volume more than five times …

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June, 2022

• 30 June

  RBI battles against rupee fall with multi-pronged strategy

  

    Bloomberg The Reserve Bank of India (RBI) is fighting on several fronts to slow the rupee’s decline to fresh records, with little respite in sight. The Reserve Bank’s challenges include crashes in forward dollar premiums to rising open interest in futures that adds to pressure on the currency. Strategists say that the pressure will continue amid shrinking interest rate …

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