August, 2022

• 9 August

  Air New Zealand carried 10% fewer passengers in last fiscal

    Bloomberg Air New Zealand carried 10% fewer passengers in the last financial year, while volumes remain less than half pre-Covid levels. Passengers carried fell to 7.7 million in the year ended in June 30 from 8.6 million a year earlier, the carrier said in Wellington. The total slumped from 17.7 million in the year through June 2019. New Zealand ...

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• 9 August

  Next in talks to acquire stake in Joules

    Bloomberg British clothing and housewares chain Next Plc is in talks to acquire a minority stake in troubled retailer Joules Group Plc for about £15 million ($18.1 million). The potential investment will be made “at no less than” its current market price, Joules said in a statement responding to a report it was looking to sell a roughly 25% ...

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• 9 August

  Ships resume Taiwan routes even as China continues drills

  

    Bloomberg Shipping in the Taiwan Strait began to return to normal on Monday, though China’s announcement of a new military exercise near the island signaled that risks remain for the industry. More than 40 vessels have transited through a China military drill zone south of Taiwan’s main port since Saturday, according to ship-tracking data compiled by Bloomberg. The latest ...

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• 9 August

  Italy’s center-left coalition collapses days after agreement

  

  Bloomberg An Italian centrist party quit its alliance with the Democrats, days after agreeing to join forces in a bid to prevent a right-wing landslide in September elections triggered by the fall of Prime Minister Mario Draghi’s government. The Azione party pulled out because “the pieces just didn’t fit together,” its leader, Carlo Calenda, said during an interview with national ...

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• 9 August

  Russia invites nuclear monitors to visit shelled Ukrainian plant

    Bloomberg Russia told diplomats it’s ready to welcome international monitors into Ukraine’s Zaporizhzhia nuclear power plant, whose safety is in doubt after coming under attack last week. International Atomic Energy Agency inspectors have said there’s a “very real risk of a nuclear disaster” at Europe’s biggest atomic power plant amid fighting in the area. The Zaporizhzhia site, with six ...

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• 9 August

  South Korea minister offers to quit in another hit for president

    Bloomberg South Korea’s education minister offered to resign over a plan to reduce the school entry age a year to five, which ignited a backlash and dented already weak support for President Yoon Suk Yeol. Park Soon-ae, one of four women in Yoon’s 18-member cabinet, submitted her resignation Monday, saying she was stepping down after about a month on ...

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• 9 August

  BOE governor tips into political storm over surging UK inflation

  

    Bloomberg In the midst of the UK’s worst inflation crisis for four decades, Bank of England (BOE) Governor Andrew Bailey has found himself at the heart of a growing political storm. After a little more than two years in the job, Bailey is under attack from members of the ruling Conservative Party and the press. It’s a dramatic turnaround ...

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• 9 August

  Citigroup’s Mexican unit seen selling above $7b as Slim eyes bank

  

  Bloomberg Citigroup Inc.’s Mexican unit, Banamex, is likely to attract offers of about $7 billion to $8 billion as the field of bidders narrows, according to people familiar with the matter. Grupo Financiero Banorte, Carlos Slim’s Grupo Financiero Inbursa, mining tycoon German Larrea and Grupo Financiero Mifel are still in the running. Slim, with a net worth of $73.5 billion, ...

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• 9 August

  Fintech firm Paytm’s quarterly loss widens over 70% on costs

  

    Bloomberg Paytm, India’s leading digital payments brand, said its first-quarter loss widened by almost 70% on higher costs, and reiterated that the company is on track to hit operational profitability by September 2023. The loss in the April-June period climbed to 6.44 billion rupees ($81 million) from 3.8 billion rupees a year earlier, the company said. Revenue rose 89% ...

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• 9 August

  ‘Crypto business leaving Japan due to high tax’

  

    Bloomberg Japan should reduce corporate taxes on crypto to prevent entrepreneurs leaving the country, one of nation’s most high-profile crypto businesspeople said. “At least 20 or more” firms have opted to establish their crypto business abroad rather than Japan because of high levy, said Sota Watanabe, CEO of Web3 infrastructure developer Stake Technologies, in an interview. Watanabe said he ...

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