June, 2022

• 21 June

  Germany warns of difficulty in capping price of Russian oil

  

    Bloomberg The German government is willing to discuss a US proposal to cap the price of Russian oil exports, while cautioning that such a measure may be too complicated to implement. US Treasury Secretary Janet Yellen’s idea to link an oil price cap to insurance sanctions is an interesting proposal, and the Group of Seven most industrialized countries are …

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• 21 June

  Primark to trial click and collect service in Britain

  

    Bloomberg Associated British Foods Plc said that budget-clothing retailer Primark will test a UK click-and-collect service on children’s products, seeking to boost sales that are still recovering from the pandemic. In a significant departure for a retailer that has previously resisted moving any of its sales online, the trial will take place in up to 25 stores in the …

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• 21 June

  JetBlue Airways raises Spirit offer once again as investor vote nears

  

    Bloomberg JetBlue Airways Corp raised its offer to purchase Spirit Airlines Inc, the latest move in a multi-billion dollar takeover contest with rival Frontier Group Holdings Inc, with both would-be suitors battling to secure a swift track to expansion as domestic travel demand surges. New York-based JetBlue is now offering $33.50 per share, up from $31.50 on June 6, …

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• 21 June

  EasyJet cuts summer capacity to ease disruption, sees cost hit

  

  Bloomberg EasyJet Plc said it will rein in summer capacity after London Gatwick and Amsterdam Schiphol airports, its two biggest bases, capped flights to help cope with a staffing shortage. The measure is set to push up costs. The UK discount carrier will now operate at around 87% of pre-Covid capacity in the three months ending on June 30, increasing …

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• 21 June

  Ocado raises $705m in share placing to fund expansion

  

    Bloomberg Ocado Group Plc raised £575 million ($705 million) to fuel expansion even as the surge in online food shopping during the pandemic recedes with soaring inflation thinning consumer wallets. Shares in the British e-commerce group fell as much as 6.1% in early trading, after Ocado sold 72.3 million shares in an accelerated placing, in an emailed statement. Stock …

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• 21 June

  Ryanair’s British pilots accept pay deal

    Bloomberg Ryanair Holdings Plc’s British-based pilots accepted a new pay deal with the airline, avoiding any potential strike and giving the carrier some relief amid a wave of action from staff across Europe. Ryanair members of the British Airline Pilots’ Association voted to accept a revised pay offer from the airline, a union spokesperson said. BALPA had been in …

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• 21 June

  Oil holds onto sharp decline as traders weigh growth outlook

  

  Bloomberg Oil held onto Friday’s sharp losses as traders weighed whether aggressive US monetary policy tightening will lead to a recession that would stymie consumption. Brent traded near $114 a barrel after shedding more than 5% as escalating concerns about the pace at which the Federal Reserve is raising rates rattle financial markets. Trading was thin on Monday due to …

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• 21 June

  Airline industry predicts profit in 2023, defying slowdown

  

  Bloomberg The airline industry will return to profit next year as pent-up demand for travel sustains bookings even as the global economy tightens, the International Air Transport Association (IATA) trade group predicted. Losses this year are likely to total $9.7 billion as air travel begins its recovery from the coronavirus crisis, IATA said in an update at its annual meeting, …

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• 21 June

  Qantas, Airbus to make $200m joint investment for sustainable fuels

  

  Bloomberg Airbus SE and Qantas Airways Ltd will make a joint investment aimed at kick-starting Australia’s sustainable aviation fuel industry. The planemaker and airline plan to invest as much as $200 million to accelerate the adoption of SAF in the country, they said. “The use of SAF is increasing globally as governments and industry work together to find ways to …

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• 21 June

  Starbucks Malaysia operator to sacrifice margin than raise price

    Bloomberg Berjaya Food Bhd, which operates Starbucks and chicken-based restaurant chain Kenny Rogers Roasters outlets across Malaysia, is looking to curb costs internally rather than pass on rising production costs to consumers. “For us, the last thing we want to do is increase prices. Consumers feel it if you pass the cost” to them, Group Chief Executive Officer Sydney …

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