June, 2022

• 29 June

  Nike skids on downbeat guidance by China stance

  

  Bloomberg Nike Inc shares fell as the world’s largest sportswear company offered a downbeat full-year forecast for gross margin and said it was being cautious in its outlook for the vital China market. The retailer said it expects gross margin to be flat to down 50 basis points, after it reported results that surpassed analysts’ estimates and overcame supply-chain pressures ...

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• 29 June

  Airbus close to winning $5.5b order from India’s Jet Airways

  

    Bloomberg Airbus SE has emerged as the front-runner to win an order for as many as 50 aircraft worth up to $5.5 billion from Jet Airways India Ltd, people familiar with the matter said, solidifying the European planemaker’s hold in the world’s fastest-growing aviation market. The talks are for A320neo jets and A220 planes, the people said, asking not ...

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• 29 June

  JetBlue again boosts Spirit takeover bid countering Frontier

  

    Bloomberg JetBlue Airways Corp continued its fight to acquire Spirit Airlines, raising its all-cash bid yet again in response to an increased offer by rival suitor Frontier Group Holdings Inc in the days before a crucial shareholder vote. The new proposal includes an accelerated prepayment of $2.50 a share, structured as a cash dividend to Spirit shareholders after approval ...

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• 29 June

  Heathrow hits out at CAA for reduced airport charge plan

    Bloomberg The UK Civil Aviation Authority (CAA) reduced the charges London Heathrow airport will be able to levy from airlines over the next five years. The hub said the fees don’t cover required investments and that the passenger experience is set to suffer. UK airports have already been struggling with resurgent traffic as pandemic restrictions ease, with flight and ...

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• 29 June

  Weilong revives $500m Hong Kong IPO

    Bloomberg Weilong Delicious Global Holdings Ltd has revived its Hong Kong initial public offering, paving the way for one of the city’s biggest listings this year. The Chinese snack maker refiled a preliminary prospectus, confirming an earlier Bloomberg News report. The filing doesn’t contain any offering details. The company could raise about $500 million in a share sale, which ...

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• 28 June

  Stocks rise as China cuts quarantine; dollar steady

  

    Bloomberg Stocks rise on Tuesday after China softened its strict Covid-19 protocols, easing investor concerns about global growth. Mining and energy shares led gains in Europe’s Stoxx 600, while US equity futures advanced about 0.6%. An Asian equity index erased losses to climb for a fourth session. China cut in half the time new arrivals must spend in isolation, ...

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• 28 June

  Coinbase declines as Goldman downgrades to sell after 75% rout

  

  Bloomberg Goldman Sachs Group analysts downgraded Coinbase Global to a sell rating as the crypto winter continues to take its toll on the struggling digital currency exchange. Shares of the firm slumped 11% to $55.96, extending their decline this year to 78% as Bitcoin trades at less than half its value from six months ago. Goldman analyst William Nance cited ...

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• 27 June

  Gas rises as Europe struggles to fill Russian supply gap

  

    Bloomberg European natural gas prices rise as Russia’s deep supply cuts are slowing the pace of refilling storage sites, threatening to fall short of levels required to keep homes warm in the coming winter. Benchmark futures started the week with a gain of as much as 6.9%. Buyers have found it more difficult to replace Russian gas from elsewhere ...

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• 27 June

  Cost of charging Teslas jumps by 37% in UK

  Bloomberg The cost of charging the UK’s most popular electric car, the Tesla Model 3, has jumped 37% since December along with rising electricity prices. And further hikes look likely in the months ahead. UK petrol prices surged to record levels last week, making it more than $123 to fill a standard car. But even electric vehicle drivers are feeling ...

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• 27 June

  Tencent backer Prosus to cut $134b stake to fund buyback

  

    Bloomberg Prosus NV is planning to sell more of its $134 billion stake in Chinese internet giant Tencent Holdings Ltd to finance a buyback program, reversing a pledge to hold onto the full shareholding. Tencent erased earlier gains in Hong Kong as investors pondered the extent to which Prosus, the Chinese company’s biggest shareholder, will unload its stock. The ...

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