August, 2022

• 10 August

  Whole Foods co-founder builds chain of cafes, wellness centres

  

  Bloomberg Whole Foods Market co-founder John Mackey is planning a second act when he retires from the Amazon-owned grocer next month: building a chain of plant-based restaurants and wellness centres that offer fitness and spa services. Corporate records list Mackey, 68, as a partner in Healthy America LLC, a startup that raised about $31 million from investors earlier this year …

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• 10 August

  UK airfares up 30% as demand runs up against flight caps

  

  Bloomberg Britons booking a break in some of Europe’s most popular holiday destinations this summer are seeing airfares climb by almost a third amid booming demand, high oil prices and curbs on airline capacity. Fares in the first week of August, the peak month for UK travel, were up 30% on average for the top 36 routes compared with pre-pandemic …

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• 10 August

  HK quarantine reduction not enough, says airline group

    Bloomberg Hong Kong’s move to reduce mandatory hotel quarantine for international travellers isn’t enough to bring back tourists, according to Association of Asia Pacific Airlines Director General Subhas Menon. “It’s not time to bring out the bubbly,” Menon, whose group represents 14 Asia Pacific carriers including Cathay Pacific Airways Ltd said in an interview with Bloomberg Television. “It’s always …

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• 10 August

  Alibaba cut staff by 10,000 in 3 months

    Bloomberg Chinese e-commerce giant Alibaba Group Holding Ltd let go of 9,241 employees in the three months to June, according to the company’s latest filing. The Hangzhou-based firm reported it had just over 245,000 employees at the end of the most recent reporting quarter, cutting back during a period that marked its first ever contraction in revenue. Alibaba also …

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• 10 August

  US futures mixed amid focus on earnings, inflation report

  

    Bloomberg US equity-index futures were mixed and the dollar fell as investors bet a strong earnings performance can continue despite recent disappointments. European stocks fall. Contracts on the S&P 500 ticked higher while those on the Nasdaq 100 slipped after the losses driven by NVidia Corp.’s revenue miss. Treasuries dipped, with the 10-year benchmark yield rising three basis points …

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• 10 August

  A wave of analyst optimism is a red flag to Citigroup strategists

  

  Bloomberg Highly optimistic analyst stock recommendations are flashing a warning signal for equity market rally, according to Citigroup Inc. strategists. An index of global sell-side ratings “is back to peak bullishness levels reached in 2000 and 2007, after which global equities halved,” strategists led by Robert Buckland wrote in a note. While analysts always have more buys than sells, “they …

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• 9 August

  Rolls-Royce’s exiting CEO posts earnings miss as long-haul lags

  

  Bloomberg Rolls-Royce Holdings Plc CEO  Warren East unveiled lackluster first-half results in his final earnings presentation while saying a mounting recovery in long-haul travel means the jet-engine maker should still hit its full-year financial targets. The UK engineering giant posted an underlying operating profit of 125 million pounds ($152 million) for the first six months, down from 307 million pounds …

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• 9 August

  HK needs roadmap to end quarantine: Cathay

  

    Bloomberg Hong Kong should urgently provide a clear roadmap for the complete removal of all Covid-19 travel restrictions, the city’s main carrier Cathay Pacific Airways Ltd said. The airline’s statement followed the government saying it will cut mandatory hotel quarantine to three days from a week, effective from August 12. A clear plan to lift all restrictions is needed …

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• 9 August

  Ryanair fined over Hungary tax its CEO called ‘beyond stupid’

  

  Bloomberg Ryanair Plc was slapped with a fine in Hungary over a windfall tax the airline’s Chief Executive Officer had called “beyond stupid.” Hungary’s Consumer Protection Office levied a 300 million forint ($781,270) penalty for Ryanair’s decision to pass on the cost of the tax to its customers, Justice Minister Judit Varga said in a Facebook post on Monday. Ryanair …

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• 9 August

  Qantas asks execs to temporarily work as baggage handlers

  

    Bloomberg Qantas Airways Ltd needs executives from head office to leave their jobs for three months and haul luggage full-time to address a stubborn labour shortage that’s disrupting flights. The airline is looking for at least 100 volunteers to carry out shift work at Sydney and Melbourne airports, Chief Operating Officer Colin Hughes wrote in a note to managers …

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