August, 2022

• 29 August

  Lufthansa pilots step up strike threat as wage talks hit impasse

  

  Bloomberg Deutsche Lufthansa AG pilots said they have begun preparations to go on strike after failing to reach a wage accord with the airline, potentially creating more chaos after recent labour action already disrupted operations at the height of summer travel season. “At this point we remain far apart,” Matthias Baier, the spokesman for the Vereinigung Cockpit pilot labour union, ...

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• 29 August

  Nestle launches vegan KitKats but they’re going to cost more

  

    Bloomberg Vegans with a hankering for chocolate-covered wafers can at last get their hands on a KitKat. Nestle SA, the Swiss food giant, is launching KitKat V, a plant-based version of one of the world’s most popular chocolate bars, with a rollout planned across 15 European countries including the UK. Unlike the classic KitKat, the vegan version uses a ...

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• 29 August

  US suspends Chinese airline flights in Covid-19 dispute

    Bloomberg The US Department of Transportation is suspending 26 flights by Chinese airlines next month in a dispute over Beijing’s strict policies when travelers test positive for Covid-19. The retaliatory move follows the Chinese government’s decision to limit inbound flights by US carriers including United Airlines Holdings Inc. and Delta Air Lines Inc. China’s actions are “adverse to the ...

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• 29 August

  Gap pulls full-year outlook on CEO search

    Bloomberg Gap Inc.’s shares rose in late trading as investors took solace in higher-than-expected earnings and improving sales trends even as the chain withdrew its full-year projections. The apparel retailer said macroeconomic uncertainty and its ongoing search for a new executive officer sparked the decision to pull the guidance. Still, the company saw “an improvement in sales trends in ...

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• 29 August

  US sends first warships through Taiwan Strait since Pelosi visit

  

    Bloomberg US Navy warships have entered the Taiwan Strait for the first time since House Speaker Nancy Pelosi’s visit to the self-ruled island tested ties between Washington and Beijing. The Ticonderoga-class guided-missile cruisers USS Antietam and USS Chancellorsville are conducting a routine transit through a corridor of the strait beyond the territorial sea of any state, the 7th Fleet ...

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• 29 August

  Turkey says Greek missile system locked on its fighter jets

  

    Bloomberg Greek air defense missile locked onto Turkish F-16 fighter jets flying in international airspace over the Mediterranean, the Turkish Defense Ministry said in a statement. Greece’s Russian-made S300 air defense system on the island of Crete locked onto the Turkish planes on Aug. 23 as they flew over the Mediterranean, according to the statement. Earlier in the week, ...

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• 29 August

  South Korea president’s prominent rival set to lead opposition

  

    Bloomberg South Korea’s main opposition picked a high-profile rival of the president as its new leader, adding to the government’s challenges as it struggles to build support after three months in office. The progressive Democratic Party elected Lee Jae-myung on Sunday to lead the charge against conservative President Yoon Suk Yeol. Lee, a populist who pushed to introduce universal ...

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• 29 August

  South Africa’s ANC may hold onto majority in 2024

  

  Bloomberg South Africa’s governing African National Congress has a chance of retaining its majority in national elections in 2024, according to a survey conducted by the Social Research Foundation. The results of the survey of 3,204 registered voters in July contrasts with a slew of polls forecasting the party that led South Africa out of apartheid in 1994 will dip ...

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• 29 August

  Truss considers cutting VAT to 15% to ease UK crisis: Telegraph

    Bloomberg Liz Truss is considering cutting Britain’s VAT sales tax by as much as 5 percentage points across the board, the Telegraph reported, a move that may head off criticism she lacks a plan to tackle the country’s cost of living crisis. The potential reduction to 15%, flagged in a newspaper that has strongly backed her leadership campaign against ...

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• 29 August

  Searing UK inflation drives pound near its 37-year low

  

    Bloomberg It’s starting to look like nothing can stop the British pound from sinking to new lows. With talk about inflation surpassing 18% next year and families across the country likely to be pushed into energy poverty this winter, the UK’s economic woes are getting worse by the day. The consensus among traders is that the Bank of England ...

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