August, 2022

• 24 August

  Dubai wins bids to host 99 events in first half of 2022

  

    Dubai / WAM Dubai has consolidated its position as a leading destination for international business events in the first half of 2022, securing the rights to host major conferences, congresses, incentive travel programmes and other meetings over the forthcoming years. Over the first six months of 2022, Dubai Business Events (DBE), Dubai’s official convention bureau, collaborated with stakeholders across ...

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• 24 August

  Putin wouldn’t shrink from beginning ‘Chernobyl 2.0’

  

  The history of warfare has no precedent for what is happening right now in Zaporizhzhia, Ukraine. Never before has a nuclear power plant been on the front line of a major war, and indeed a main object of the warring parties’ strategies. How Russia, Ukraine and the rest of the world handle this moment of peril is becoming a test ...

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• 24 August

  China’s property demons stalk Vietnam

  

  One may earn a high salary, but only real estate can build up wealth — for decades, that’s been the Chinese mentality. Real estate accounts for roughly 70% of China’s household wealth, and as much as 30% of its economy. But China Evergrande Group’s debt blowup, with the tumbling home prices and mortgage boycotts that followed, have sent the economy ...

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• 24 August

  FedEx investors need a metric they don’t have

    Investors are eager to understand what’s happening at FedEx Corp’s Ground unit, which has been the company’s crown jewel of rising sales and profit for a couple of decades. That’s why almost a dozen Wall Street analysts and two big FedEx investors traveled to Las Vegas over the weekend to hear the view of contractors that make the last-mile ...

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• 24 August

  Moderates still run the show in US politics

    Last week’s enactment of the 2022 budget-reconciliation bill, also known as the Inflation Reduction Act, is being treated by many analysts as a major turning point in Joe Biden’s presidency. As recently as last month, when it looked like Congress might not pass reconciliation legislation this year, conventional wisdom in Washington suggested that Biden was a failing president who ...

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• 24 August

  Gatwick Airport ends caps over Heathrow disruption

  

    Bloomberg London Gatwick airport said it will end capacity caps this month, bringing some relief to travelers as schedule reductions at the UK capital’s larger Heathrow hub continue through the winter season. Gatwick, controlled by French builder Vinci SA, has hired 400 security staff to help resolve a labour crunch while delegating other workers to address shortages at airport ...

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• 24 August

  SpiceJet says it’s open to external investors

  

    Bloomberg Financially troubled Indian carrier SpiceJet Ltd is open to investment from external parties, including other airlines, as it seeks to raise 20 billion rupees ($250 million), Chairman Ajay Singh told reporters in New Delhi. Singh declined to say what other carriers SpiceJet may be in discussions with but indicated an equity stake sale may be one option. SpiceJet’s ...

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• 24 August

  Starbucks to Nike report steep China sales drop on lockdowns

  

    Bloomberg Global consumer giants selling everything from jewellery to t-shirts saw sales in China tumble in their most recent quarter as Covid Zero lockdowns hammered consumer demand in the world’s second-largest economy. Starbucks Corp was particularly hard hit, reporting a more than 40% drop in sales in the quarter ended on July 3. The company began the period with ...

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• 24 August

  Bed Bath & Beyond leads rout as meme stocks fizzle

  

    Bloomberg The unraveling of the latest meme stock frenzy is accelerating as bad news for one of the most popular retail-trader favourites piles up and investors dump riskier assets. Bed Bath & Beyond Inc tumbled 16%, marking a now three-day drop that’s erased 60% of its market value, after a report some suppliers were restricting or halting shipments altogether ...

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• 24 August

  Matalan founder proposes cash injection to avoid sale

    Bloomberg Matalan Ltd’s founder John Hargreaves has proposed injecting tens of millions of pounds into the struggling retailer to keep control of the business even as its creditors push for a sale, Sky reported citing people familiar with the matter. Hargreaves, who reinstated himself as Matalan chairman last month, wants to invest between £25 million and £50 million cash ...

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