June, 2022

• 11 June

  Cleaning up airline travel seems to be really expensive

  

  Bloomberg We’re probably going to have to fly less. And when we do board a plane, it’s going to cost more — a lot more, one way or another. Those are the conclusions of a new report by the nonprofit International Council on Clean Transportation, which analysed how the airline industry could cut emissions in line with global climate goals. …

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• 11 June

  British Airways’ South African operator poised to be liquidated

    Bloomberg Comair, the South African partner of British Airways and owner of low-cost carrier Kulula, is on the brink of collapse after administrators were unable to raise the funds needed to resume flying. The operator of about 40% of domestic air trips in South Africa has been battling with high fuel prices, the aftermath of coronavirus travel bans and …

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• 11 June

  Paris airport scraps flights amid strike

    Bloomberg A quarter of flights were cancelled and two runways shut by a strike at Paris-Charles de Gaulle airport, the latest upheaval to hit the European transport industry struggling to meet higher demand for travel. The walkout by a broad range of employees at the French capital’s international hub is also expected to cause delays for passengers whose flights …

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• 11 June

  EU set to take action as UK plans to override Brexit deal

  

  Bloomberg The UK is making last-minute tweaks to planned legislation to override a portion of its Brexit deal, as the European Union prepares to relaunch legal proceedings as part of the bloc’s response to the move. The EU has drawn up a draft statement to follow a UK move, emphasizing a calm response and reiterating the need to return to …

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• 11 June

  Credit Suisse taps brakes on China growth, delays local bank

  

    Bloomberg Credit Suisse Group AG is tapping the brakes on its China expansion, postponing its biggest mainland project, in a sign that weakness in Asia’s largest economy is prompting global banks to temper ambitious growth plans. The Zurich-based lender has delayed the targeted launch of its locally incorporated bank by a year to 2024, the second postponement since the …

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• 11 June

  Wells Fargo declines on report of probe into fake interviews

  

    Bloomberg Wells Fargo & Co shares declined after a report that the bank is the target of a criminal investigation into whether it violated federal law by conducting fake job interviews of minority candidates to satisfy in-house diversity guidelines. The San Francisco-based firm is being investigated by the civil-rights unit of the Manhattan US attorney’s office, the New York …

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• 11 June

  UK’s biggest lenders are no longer too big to fail, says BOE

  

    Bloomberg The Bank of England (BOE) has concluded that emergency planning at the UK’s biggest banks means none should require a public bailout in event of a crisis. The central bank’s long-awaited response to the self-assessments of eight lenders, including HSBC Holdings Plc and Barclays Plc, found that their internal systems should avert the kind of state intervention needed …

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• 11 June

  BOJ to stand pat unless yen breaches 140: Economists

  

  Bloomberg The Bank of Japan (BOJ) is expected to hold firm next week with expectations of policy adjustments this year weakening among economists unless the yen breaches the 140 mark against the dollar. All but one of 45 analysts said the bank will leave its yield curve control program and asset purchases untouched at the conclusion of a two-day meeting …

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• 11 June

  Peru lifts key rate half-point to 5.5 percent

    Bloomberg Peru raised borrowing costs for an 11th straight month with a half percentage point interest rate hike to curb the fastest inflation in a quarter century, which triggered rioting in the recent months. The central bank increased its policy rate to 5.5% from 5%, in line with forecasts. The new rate is the highest since 2009. Central banks …

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• 11 June

  Euro traders signal skepticism over ECB’s rate-hike plans

  

    Bloomberg Even the prospect of an historic rate hike isn’t enough to bolster the euro, which is feeling the weight of risks from the region’s uneven economic recovery and the war in Ukraine. The common currency shrugged off the European Central Bank’s (ECB) most hawkish messaging in more than a decade and its planned reversal from an era of …

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