July, 2022

• 25 July

  Oil declines for third week with anemic demand, economic data

  

  Bloomberg Oil posted a weekly loss with softer European economic data and signals of US fuel demand stalling souring the market’s outlook. West Texas Intermediate falls 1.7% to slip below $95 a barrel in a choppy session. Crude posted a weekly decline as broader markets swayed oil prices in sessions characterised by sharp swings and low liquidity. On July 22, …

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• 25 July

  Europe frets with gas flows still at risk after pipeline restart

  

  Bloomberg Europe is again on edge about potential gas supply disruptions from Russia, even after the restart of the crucial Nord Stream pipeline following maintenance this week. A turbine that helps pump gas into the link is held up in transit in Germany after first being stranded in Canada due to sanctions. President Vladimir Putin has warned that shipments through …

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• 25 July

  Tata may close Port Talbot without $1.8bn from UK

  

    Bloomberg Indian steel giant Tata Steel Ltd may close sites including Port Talbot unless it receives $1.8 billion in support from the UK government, the Financial Times reported. Natarajan Chandrasekaran, Tata Group chairman, said the firm had been in talks with the government for two years over funding for Tata’s transition to greener steel production. “We should come to …

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• 25 July

  Amazon acquires US medical provider in $3.9 billion deal

  

    Bloomberg Amazon.com Inc is done dabbling in healthcare. With its proposed $3.49 billion purchase of One Medical parent 1Life Healthcare Inc, the e-commerce giant is taking its biggest step yet into an industry that accounts for about one-fifth of the US economy. The deal will give Amazon relationships with hundreds of thousands of patients and their employers as well …

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• 25 July

  Virgin Atlantic seeks to recruit 200 more pilots

  

    Bloomberg Virgin Atlantic Airways Ltd is seeking 200 pilots to help operate its flying schedule starting next summer, even as the European air-transport industry remains in the grip of a staffing shortage. The UK carrier plans to hire first officers across both its Airbus SE and Boeing Co fleets, according to a statement. About 100 pilots will be needed …

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• 25 July

  Ashley’s son-in-law posts record profits as Sports Direct owner

  

    Bloomberg Shares in Frasers Group Plc leaped after the owner of Sports Direct and House of Fraser reported bumper profits and said it expects to grow further this year in the first financial results since Michael Murray took over as chief executive. Frasers forecast profit of at least £450 million ($538 million) in the financial year to April, building …

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• 25 July

  American cancelled 1,175 flights to ease disruptions

  

    Bloomberg American Airlines Group Inc notified flight crews that it has cancelled 1,175 flights in July and August as part of efforts to build more “buffer” into its schedule and reduce disruptions that have plagued the industry this summer. The cuts come after the carrier detailed plans to trim flight capacity as much as 10% this quarter and 9.5% …

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• 25 July

  Lululemon staff petition to unionise in Washington

  Bloomberg Lululemon Athletica Inc workers are petitioning to unionise, extending a wave of organising at previously union-free US retail firms. Employees at one of the athletic-wear company’s Washington stores filed for a unionisation election with the National Labor Relations Board. The proposed bargaining unit would cover 33 employees, according to the filing from the workers’ new labour organisation, which calls …

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• 25 July

  Reliance’s Q2 profit misses estimates

    Bloomberg Reliance Industries Ltd, controlled by billionaire Mukesh Ambani, posted a 46% increase in quarterly profit but fell short of market expectations as high costs made a dent to the windfall gains from refining business. Net income at India’s biggest company by market value jumped 46% to 179.6 billion rupees ($2.3 billion) for the three months ended on June …

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• 25 July

  UK banks see suspicious reports triple since invasion of Ukraine

  

    Bloomberg The National Crime Agency (NCA) has seen a surge in so-called suspicious activity reports filed by banks and other regulated institutions in the UK since February. The NCA, Britain’s equivalent of the FBI, gave an update on the figures for the first time. The notices, which detail concerns around sanctions breaches as well as money laundering and terrorist …

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