August, 2022

• 5 August

  Can DBS challenge HSBC with Fed’s help?

    The battle for Asia’s preeminent financial institution will be fought with the Federal Reserve providing ammunition — to both sides. Just how much profit each can squeeze out of US monetary tightening may end up deciding if Hong Kong’s biggest bank, HSBC Holdings Plc, stays whole and dominant. Or if Singapore’s largest lender, DBS Group Holdings Ltd, gets a ...

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• 5 August

  Lufthansa gives upbeat outlook as travel demand stays strong

  

  Bloomberg Deutsche Lufthansa AG forecast profit will keep rising in coming months amid a boom in demand, even as staffing shortages prompt airports to limit capacity. Europe’s biggest airline group said it expects a “significant increase” in earnings in the third quarter compared to the second. That’s after high ticket prices and bumper profits at the company’s cargo division more ...

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• 5 August

  Boeing defense workers approve revised offer

  

    Bloomberg Boeing Co avoided a crippling work stoppage at its defense manufacturing hub after St Louis-area Machinists accepted a revised contract offer, reversing an earlier vote to strike. “We have delivered an equitable contract that will secure the future for the members, their families and future generations,” Tom Boelling, president of the International Association of Machinists and Aerospace Workers ...

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• 5 August

  Schiphol Airport extends its capacity caps into autumn

  

    Bloomberg Amsterdam Schiphol Airport extended capacity curbs into the autumn as the Dutch hub continues to grapple with a staffing crunch. Royal Schiphol Group NV will cap the number of departing passengers at 67,500 per day for September and 69,500 in October, it said in a statement. The numbers are lower than the 72,500 limit set for August, reflecting ...

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• 5 August

  JetBlue tumbles in Q2 as fuel costs drive loss

  

    Bloomberg JetBlue Airways Corp reported a second-quarter loss that missed Wall Street’s expectations as high fuel prices kept operating expenses elevated ahead of the carrier’s planned purchase of deep discounter Spirit Airlines Inc. The carrier’s shares fell after it said total costs soared 89% in the quarter to $2.56 billion, including $910 million spent on fuel. JetBlue is starting ...

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• 5 August

  Iceland using its volcanic eruption to lure tourists

    Bloomberg As volcanic activity in Iceland started, the country’s tourism industry kicked into high gear, grasping an opportunity to revive the business after the pandemic had banished most visitors from the Atlantic island for more than two years. With reports emerging of sightings of lava, the shares of Icelandic airlines Icelandair hf and Fly Play, which flies under the ...

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• 5 August

  Just Eat unveils rapid delivery hub in Berlin

    Bloomberg Just Eat Takeaway.com has launched its own service offering rapid delivery of grocery and convenience items in Berlin, pulling the firm deeper into an already crowded market. Just Eat’s so-called ‘dark store’ will target a delivery time of around 20 minutes and offer consumers more than 1,000 items from fresh produce to baby products under its local Lieferando ...

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• 5 August

  Buyers embrace change on supply chain issues: Study

    Gulf Time / London While 2022 started with Covid-19 raging in some parts of the world, new problems have emerged that again challenge retail buyers of consumer-packaged goods. Supply chain issues were the focus of the second quarter, along with the emergence of inflationary pressures. Health and healthier food categories sit beside convenience foods on the most searched lists ...

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• 5 August

  China fires ballistic missiles near Taiwan in biggest test in decades

  

  Bloomberg China fired its largest missile tests in Taiwan’s waters in decades, the day after US House Speaker Nancy Pelosi defied Beijing by visiting the self-ruled island it claims as its own. The People’s Liberation Army fired 11 Dongfeng ballistic missiles into waters north, east and south of Taiwan between 13:56 p.m. and 16:00 p.m. local time Thursday, the island’s ...

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• 5 August

  Taliban say unaware of al-Qaeda leader’s presence in Kabul

  

  Bloomberg Top Taliban officials didn’t know al-Qaeda leader Ayman al-Zawahiri was hiding in Afghanistan, a spokesman said, and an investigation is underway to check the veracity of US claims he was killed in an American airstrike in the capital Kabul over the weekend. “The government and the leadership wasn’t aware of what is being claimed,” Suhail Shaheen, the head of ...

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