July, 2022

• 5 July

  Emerging markets are well-positioned to stare down a US recession

  

    Bloomberg Emerging markets are well positioned to stare down a US recession and may even be able to lure investors their way. That’s the message from money managers including JPMorgan Chase & Co. and Deutsche Bank AG even as fears of a contraction in the world’s largest economy spark a dash into Treasuries and other haven assets. Beyond the …

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• 4 July

  India’s windfall fuel tax can bring in $12.7b: PTI

  

  Bloomberg India’s windfall tax on domestic crude oil production and fuel exports may help the government bring in 1 trillion rupees ($12.7 billion) in revenues, Press Trust of India (PTI) reported. The federal government’s latest levies could help it recoup most of the revenues lost from fuel excise duty cuts announced in May this year, according to the news agency, citing …

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• 4 July

  Iraq’s revenues from oil sales hit $11bn in May

  

    Baghdad / WAM The Iraqi Ministry of Oil announced that the revenues achieved during the month of May amounted to more than $11 billion. A statement by the ministry, received by the Iraqi News Agency (INA), stated that “the Ministry of Oil announces the total exports and revenues achieved for the month of May, according to the preliminary statistics …

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• 4 July

  Surging fuel costs causing demand destruction: Vitol

  

  Bloomberg The global surge in the cost of fuel is starting to weigh on demand, according to the world’s biggest independent oil trader. Consumers are being hit by the run-up in gasoline, diesel and other oil products, Mike Muller, head of Asia at Vitol Group, said on Sunday on a podcast. “There’s very clear evidence out there of economic stress …

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• 4 July

  Airbus wins $37bn China jet deals in blow to Boeing

  

  Bloomberg Airbus SE won one of its biggest-ever orders for 292 airliners worth more than $37 billion from four Chinese airlines, a coup for the European manufacturer as it tussles with Boeing Co. for dominance in Asia’s largest economy. China Eastern Airlines Corp. will buy 100 A320neo narrow-body jets, while Air China Ltd. will take 64 units, with its Shenzhen …

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• 4 July

  Air fares will rise for next five years, says Ryanair’s O’Leary

  

  Bloomberg Air fares are “too cheap” and will need to rise for the next five years for airlines to remain competitive, Ryanair Chief Executive Officer Michael O’Leary told the Financial Times in an interview. Ryanair under O’Leary pioneered the era of budget travel, offering cheap tickets that made air travel accessible to millions, while putting pressure on the profit margins …

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• 4 July

  American Airlines says trips restored after technical glitch

  

  Bloomberg American Airlines Group Inc. said it doesn’t expect any operation impact from a temporary glitch that had allowed pilots to drop thousands of flight hours. A “technical glitch” in AA’s pilot scheduling system led to more than 37,000 of flying hours in July to be dropped into open time, according to a statement by Allied Pilots Association President Ed …

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• 4 July

  There’s no escaping soaring food prices for UK shoppers

  

  Bloomberg UK shoppers seeking to avoid higher bills at the checkout are running out of options after prices on more than half of supermarket items rise in the past year. Some 22,000 products offered by Britain’s four biggest grocers became costlier since last June, data from retail research firm Assosia shows. That includes a 35% surge in Heinz Tomato Ketchup …

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• 4 July

  UK speeds up checks for new airport staff

    Bloomberg The British government is speeding up national security checks for new airport workers to address post-pandemic staffing shortages that have contributed to chaos for travelers in the UK and across Europe. The UK has accelerated the vetting process that all new aviation recruits must undergo, with accreditation checks being completed in around five days on average and counter-terrorist …

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• 4 July

  Hyundai is quietly dominating the EV race

  

    Bloomberg Pipe down for a second Elon, the hottest things in the auto industry — the most electric electrics — now come from Hyundai Motor Co. and Kia Corp. Earlier this year, the South Korean carmakers rolled out two new battery-powered cars — the Hyundai Ioniq 5 and its sibling, the Kia EV6 — which promptly tore up the …

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