June, 2022

• 27 June

  Baht’s outlook turns brighter

    Bloomberg The slump that’s taken the baht to its weakest in more than five years may be near an end as Thailand entices back tourists and the central bank edges towards hiking rates. The currency’s 6% drop versus the dollar this quarter — its worst three-month performance since Covid-19 devastated sentiment in early 2020 — has coincided with the ...

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• 27 June

  Zimbabwe plans triple-digit rate hike to tame inflation

  

  Bloomberg Zimbabwe’s central bank plans to more than double the benchmark interest rate — already the highest in the world — to 190%, a member of its monetary policymaking committee (MPC) said, as it seeks to put a brake on soaring inflation. Persistence Gwanyanya, from the bank’s MPC, said the intention was to achieve a positive real interest rate to ...

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• 27 June

  Global stocks extend gains

  

    Bloomberg Global stocks extended gains on Monday after posting their best performance in a month last week. US futures rise, with the Nasdaq 100 advancing 0.6% and technology heavyweights including Amazon.com Inc., Apple Inc. and Microsoft Corp. climbing in premarket trading. Tech shares also boosted indexes in Europe and Asia. Quarterly portfolio rebalancing by institutional buyers could be helping ...

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• 27 June

  Crypto exchanges hunker down as woes pile up in India

  

    Bloomberg India’s largest digital assets exchanges are bracing for a drawn-out crypto winter — one with some unwelcome local twists. With token prices plummeting, customers unable to transfer money to their accounts and a dreaded transaction tax on cryptocurrencies just around the corner, exchanges like Binance-backed WazirX have put expansion plans on the back burner. “We have cut down ...

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• 27 June

  G-7 negotiators put Russia oil price cap on agenda for leaders

  

  Bloomberg Group of Seven (G-7) negotiators agreed that discussions on a potential price cap on Russian oil had progressed enough to send the issue to leaders to discuss at their summit in Germany. The negotiators known as sherpas held what one official described as “intense” talks on the matter in the Bavarian Alps before the summit began on Sunday. While ...

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• 27 June

  Europe’s travel woes deepen as strikes add to scrapped flights

  

  Bloomberg A wave of airline strikes and flight cancellations is deepening Europe’s transport crisis, disrupting travel plans just as the region’s peak summer season gets under way. Walkouts in coming days at Ryanair Holdings Plc, EasyJet Plc, British Airways and Aeroports de Paris (ADP) will add to the turmoil from staffing shortages that are leading to hours-long delays and thousands ...

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• 27 June

  Lufthansa sees no end to disrupted flights until ’23

  

    Bloomberg Deutsche Lufthansa AG doesn’t expect flight operations to return to normal until next year, after cutting 3,100 flights from its summer schedule due to staff shortages. “Unfortunately, we will hardly be able to realistically achieve a short-term improvement now in the summer,” Lufthansa board member Detlef Kayser said in an interview with Die Welt. The only option for ...

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• 27 June

  Nike decides to leave Russia following Ukraine invasion

  

  Bloomberg Nike Inc said it’s leaving the Russian market entirely after suspending operations in March, joining other US companies that have pulled out in the wake of Russia’s invasion of Ukraine. The world’s largest athletic-wear maker halted sales in Russia earlier this year, telling customers that it couldn’t guarantee product shipments. The Beaverton, Oregon-based company had more than 100 stores ...

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• 27 June

  London’s prime shopping street has a case of long Covid

  

  Bloomberg Regent Street, London’s premier shopping thoroughfare, is struggling to shake off the lingering effects of Covid-19. Store vacancy levels, at a record 12%, are almost twice what they were at the end of 2019, while asking rents for the best space on the street have fallen by more than 30% during the pandemic, according to Savills Plc. Shoppers who ...

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• 27 June

  Zendesk to be taken private in $10.2bn deal

    Bloomberg Software maker Zendesk Inc agreed to be acquired by a group of buyout firms led by Hellman & Friedman and Permira for about $9.5 billion. The all-cash transaction offers shareholders $77.50 a share, a premium of 34% over Zendesk’s closing stock price. Including debt, the deal is valued at about $10.2 billion. The announcement comes after Zendesk said ...

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