August, 2022

• 10 August

  Cathay optimistic on outlook as Hong Kong eases travel rules

  

    Bloomberg Cathay Pacific Airways Ltd signalled a stronger second-half outlook even as Chief Executive Officer Augustus Tang told staff Hong Kong’s status has been hammered by Covid travel restrictions that continue to shackle the city. While Hong Kong’s main airline said its first-half net loss narrowed to HK$5.3 billion ($675 million) from HK$7.9 billion a year earlier, Tang said ...

  Read More »
• 10 August

  TUI sees solid holiday demand in summer despite cost of living crisis

  

    Bloomberg TUI AG, the world’s biggest tour operator, said it remains on course to post a profit this year, with bookings and prices looking strong for the rest of the summer even as Europeans suffer a cost of living squeeze. The firm expects to report “significantly positive” underlying earnings before interest and tax for the 12 months through September, ...

  Read More »
• 10 August

  Ahold Delhaize halts Dutch online unit IPO

  

    Bloomberg Royal Ahold Delhaize NV raised its forecast for the year as it weathered soaring inflation, but pulled plans to publicly list its Dutch e-commerce unit Bol.com due to volatile equity market conditions. The Stop & Shop owner said it now expects underlying earnings per share to grow at a mid-single-digit rate this fiscal year relative to 2021 as ...

  Read More »
• 10 August

  Amazon warehouse walkouts over pay spread across UK

  

    Bloomberg Hundreds of Amazon.com Inc’s UK workers are planning walkouts in the coming days after logistics workers clashed with managers over pay. A series of walkouts and slowdown protests at seven facilities in Essex, Coventry, Bristol, Swindon, Chesterfield, Warrington and Rugeley last week are expected to be followed by further protests over the coming days, according to warehouse workers ...

  Read More »
• 10 August

  Lululemon workers to vote on unionising Washington store

    Bloomberg Lululemon Athletica Inc employees will vote this month on unionising a store in Washington, testing the strength of an organising wave that’s been sweeping through previously union-free US retail firms. The US National Labor Relations Board has approved an agreement between the company and the new labor group organising the location, the Association of Concerted Educators (ACE), to ...

  Read More »
• 10 August

  UK, China agree to resume direct flights

    Bloomberg The UK and China have agreed to resume direct passenger flights, a sign that Chinese authorities are slowly loosening their grip on the world’s tightest Covid-19 regime and opening up to travel again. Chinese airlines will offer the first flights and work is ongoing to resume routes for UK carriers, the British Embassy in China said in a ...

  Read More »
• 10 August

  China says Taiwan military drills conclude, plans regular patrols

  

    Bloomberg China’s military said exercises held around Taiwan in response to US House Speaker Nancy Pelosi’s visit had concluded, while pledging to continue regular patrols near the island. The People’s Liberation Army “successfully completed all tasks” set out in exercises last week, Eastern Theater Command spokesman Senior Colonel Shi Yi said Wednesday. The statement ended ambiguity on the status ...

  Read More »
• 10 August

  Police raid home of Russian TV journalist who protested war

  

  Bloomberg A Russian journalist who staged an anti-war protest on the country’s main TV news channel said police raided her home in Moscow as part of a new probe against her. Marina Ovsyannikova said 10 police and officers from the Investigative Committee, Russia’s equivalent of the FBI, searched her apartment early Wednesday and took her away for questioning. A criminal ...

  Read More »
• 10 August

  US productivity falls for second quarter, labour costs increase

  

    Bloomberg US productivity slumped for a second-straight quarter as the economy shrank, driving another surge in labour costs that risks keeping inflation elevated and further complicates the Federal Reserve’s efforts to tame price increases. Productivity, or nonfarm business employee output per hour, decreased at a 4.6% annual rate in the second quarter after falling at a 7.4% pace in ...

  Read More »
• 10 August

  Norway inflation at 34-year high boosts rate-hike pressure

  

  Bloomberg Norway’s inflation exceeded forecasts for a fourth straight month, hitting a new 34-year high and adding pressure on Norges Bank to deliver a bigger interest rate hike this month than it has flagged earlier. Consumer prices rise 6.8% in July from a year earlier, the fastest pace since July 1988, according to data from Statistics Norway on Wednesday. Underlying ...

  Read More »