July, 2022

• 18 July

  Amazon mulls ending private-label sales

  

  Bloomberg Amazon.com Inc. has considered abandoning its private-label business as a peace offering to regulators. The company’s growing set of house brands is at the core of investigations launched by US and European regulators into whether the world’s largest e-commerce company is abusing its market power. Regulators have accused Amazon of using in-house sales data to select best-selling products sold …

  Read More »
• 18 July

  Aeromexico plans US stock listing

  

  Bloomberg Grupo Aeromexico SAB, seeking a more liquid stock market, is planning to delist from the Mexican exchange and trade in New York as soon as this year. The airline’s board in June approved a plan to cancel its registration in its home country and launch a voluntary tender offer for outstanding shares. Aeromexico emerged from Chapter 11 in March …

  Read More »
• 18 July

  Boeing sees slower growth

  Bloomberg Boeing Co. is tempering expectations for commercial aircraft demand in the coming decades, as the prospect of lower global economic growth and uncertainty surrounding Russia pressure jet deliveries. Manufacturers will hand over 41,170 new planes to customers through 2041, Boeing predicted in its latest long-term outlook for the commercial market. That would mark a slower pace than it saw …

  Read More »
• 17 July

  UBS, Citi among banks hit by pullback of Asia’s rich clients

  

    Bloomberg A slump in client trading activity in Asia is threatening to slow a lucrative earner for the world’s biggest wealth managers. UBS Group AG and Citigroup Inc are among banks whose wealth revenues for the region likely declined by double digits in the first half. Credit Suisse Group AG, which last month warned that results in the second …

  Read More »
• 17 July

  ANZ nears $3.81b deal for Suncorp’s banking unit

  

    Bloomberg Australia & New Zealand Banking group is nearing a deal to acquire Suncorp group Ltd.’s banking operations as it seeks to add customer growth, according to people familiar with the matter. An announcement could be made as soon as this week and the lender will seek to tap equity markets with a share sale to help fund the …

  Read More »
• 17 July

  Wells Fargo misses estimates as rate hikes hit mortgage unit

  

    Bloomberg Wells Fargo & Co. missed analysts’ earnings estimates as the Federal Reserve’s rate hikes started to cool the once-hot housing market, hurting the company’s mortgage-lendingbusiness. Mortgage-banking income falls 79% to $287 million in the quarter, according to a statement. That missed analysts’ $392.4 million estimate and helped bring second-quarter net income down to $3.12 billion, below the $3.19 …

  Read More »
• 17 July

  Chile steps in to buoy peso after fast slump

    Bloomberg Chile’s central bank announced plans to support the nation’s currency after it plummeted to a record low, fuelling inflation that’s already almost quadruple target rate. Policy makers announced a $25 billion currency intervention, adding it will last from July 18 to September 30. The program includes spot dollar sales of as much as $10 billion and foreign-exchange hedge …

  Read More »
• 17 July

  Hyundai takes on Tesla, unveils its first electric sedan

  

    Bloomberg Hyundai Motor Co unveiled a sedan version of its cult electric vehicle, with an interior that can beam different colours depending on the speed of the car, as the automaker continues its ambitious EV push with an eye on challenging rivals such as Tesla Inc. and General Motors Co. The Ioniq 6 can travel up to 610 kilometers …

  Read More »
• 17 July

  Facebook to allow up to five profiles tied to one account

  

  Bloomberg Meta Platforms Inc will start letting more users create multiple profiles with their Facebook accounts, the company’s latest attempt to encourage posting and sharing on its social network. As part of a test, certain Facebook members will be able to create as many as four additional profiles, and each one won’t need to include a person’s real name or …

  Read More »
• 17 July

  Toyota set to release iconic ‘crown’ cars in 40 countries

  

    Bloomberg The Toyota Crown, a car known for ferrying around Japan’s corporate and political elite, is set for the global stage from next year with plans to release versions in 40 countries and regions. Toyota Motor Corp is betting the move will breathe new life into the historic yet largely niche brand, which has almost exclusively been sold in …

  Read More »