August, 2022

• 6 August

  Bitcoin retakes $23,000 as cryptocurrency rallies before US jobs report

  

  Bloomberg Bitcoin rises as global stocks neared a two-month high and in advance of the US payrolls report. The largest cryptocurrency rose as much as 4% to $23,422 on Friday, staying within the range of around $19,000 to $25,000 that’s held it since mid-June. Ether was up as much as 5.4% to $1,678. “The majors continue to trade in a …

  Read More »
• 5 August

  Aramco, Sinopec partner on new projects in Saudi

  

    DHAHRAN / WAM Saudi Arabian Oil Company (Aramco) signed a memorandum of understanding (MoU) with China Petroleum and Chemical Corporation (Sinopec) covering multiple areas of potential collaboration between the parties in Saudi Arabia. The MoU outlines pathways for strategic cooperation between Aramco and Sinopec and supports the long-term relationship between the two companies and their existing joint ventures in …

  Read More »
• 5 August

  Lufthansa gives upbeat outlook as travel demand stays strong

  

  Bloomberg Deutsche Lufthansa AG forecast profit will keep rising in coming months amid a boom in demand, even as staffing shortages prompt airports to limit capacity. Europe’s biggest airline group said it expects a “significant increase” in earnings in the third quarter compared to the second. That’s after high ticket prices and bumper profits at the company’s cargo division more …

  Read More »
• 5 August

  Boeing defense workers approve revised offer

  

    Bloomberg Boeing Co avoided a crippling work stoppage at its defense manufacturing hub after St Louis-area Machinists accepted a revised contract offer, reversing an earlier vote to strike. “We have delivered an equitable contract that will secure the future for the members, their families and future generations,” Tom Boelling, president of the International Association of Machinists and Aerospace Workers …

  Read More »
• 5 August

  Schiphol Airport extends its capacity caps into autumn

  

    Bloomberg Amsterdam Schiphol Airport extended capacity curbs into the autumn as the Dutch hub continues to grapple with a staffing crunch. Royal Schiphol Group NV will cap the number of departing passengers at 67,500 per day for September and 69,500 in October, it said in a statement. The numbers are lower than the 72,500 limit set for August, reflecting …

  Read More »
• 5 August

  JetBlue tumbles in Q2 as fuel costs drive loss

  

    Bloomberg JetBlue Airways Corp reported a second-quarter loss that missed Wall Street’s expectations as high fuel prices kept operating expenses elevated ahead of the carrier’s planned purchase of deep discounter Spirit Airlines Inc. The carrier’s shares fell after it said total costs soared 89% in the quarter to $2.56 billion, including $910 million spent on fuel. JetBlue is starting …

  Read More »
• 5 August

  Iceland using its volcanic eruption to lure tourists

    Bloomberg As volcanic activity in Iceland started, the country’s tourism industry kicked into high gear, grasping an opportunity to revive the business after the pandemic had banished most visitors from the Atlantic island for more than two years. With reports emerging of sightings of lava, the shares of Icelandic airlines Icelandair hf and Fly Play, which flies under the …

  Read More »
• 5 August

  Just Eat unveils rapid delivery hub in Berlin

    Bloomberg Just Eat Takeaway.com has launched its own service offering rapid delivery of grocery and convenience items in Berlin, pulling the firm deeper into an already crowded market. Just Eat’s so-called ‘dark store’ will target a delivery time of around 20 minutes and offer consumers more than 1,000 items from fresh produce to baby products under its local Lieferando …

  Read More »
• 5 August

  Buyers embrace change on supply chain issues: Study

    Gulf Time / London While 2022 started with Covid-19 raging in some parts of the world, new problems have emerged that again challenge retail buyers of consumer-packaged goods. Supply chain issues were the focus of the second quarter, along with the emergence of inflationary pressures. Health and healthier food categories sit beside convenience foods on the most searched lists …

  Read More »
• 5 August

  Futures, stocks advance as recession worries recede

  

    Bloomberg US futures rise with stocks on Thursday as investors shrugged off growth warnings from the bond market. Oil bounced back from the lowest level in almost six months. Contracts on both the S&P 500 and the Nasdaq 100 pushed higher, suggesting the tech-heavy Nasdaq will extend an advance of 19% from its June 16 low. Gains in the …

  Read More »