July, 2022

• 22 July

  The Federal Reserve is failing in four ways

    Global economy watchers and market participants will be paying a lot of attention next week to how the Federal Reserve describes the US economic outlook, to the magnitude of its interest rate increase and whether it changes the pace of its balance-sheet contraction. Yet for the well-being of the US and global economy, the answer to these questions is ...

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• 22 July

  Airbus bags mainstay jet deal after lackuster expo

  

  Bloomberg The first all-new order for Airbus SE’s mainstay A320 jet of this week’s Farnborough International Airshow was distinctly lacking in the hoopla that usually accompanies deals unveiled at the world’s leading aviation expo. The $2 billion transaction from Latam Airlines Group SA of Chile was communicated by email at the show in the UK, when most show delegates were ...

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• 22 July

  Akasa Air starts ticket sales in crowded India

  

    Bloomberg Akasa Air, India’s newest carrier backed by billionaire Rakesh Jhunjhunwala, started ticket sales for its debut flights. The low-cost airline will initially fly Boeing Co 737 Max jets to four Indian cities, including Ahmedabad, Bengaluru, Mumbai, and Kochi, according to a statement. The carrier will start operating 28 weekly flights between Mumbai and Ahmedabad on August 7, followed ...

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• 22 July

  Lufthansa’s union of pilots to hold a vote on possible strike

  

  Bloomberg Deutsche Lufthansa AG’s pilots’ union is holding a vote on whether to strike, a move that would further disrupt the airline’s crucial summer travel season. The VC pilots’ union is gauging support for a walkout as talks with the airline over pay and conditions stumble, according to a spokeswoman for the labour organisation. A strike could then take place ...

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• 22 July

  UK retail sales fall less than expected as food spending jumps

  

  Bloomberg UK retail sales fared better than expected in June as a jump in bank holiday food sales helped mask the impact of the wider cost of living squeeze. The volume of goods sold in stores and online fell 0.1%, following a 0.8% drop in May that was bigger than previously reported, the Office for National Statistics (ONS) said. Economists ...

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• 22 July

  United CEO offers apology to Buttigieg after FAA criticism

    Bloomberg The head of United Airlines Holdings Inc apologised to US Transportation Secretary Pete Buttigieg after the carrier publicly faulted regulators for worsening flight delays. Scott Kirby, United’s chief executive officer, said he reached out to clarify comments in a staff memo earlier this month. In it, a United executive said half of its delay minutes and the majority ...

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• 22 July

  Virgin Atlantic extends HK flight suspension

    Bloomberg Virgin Atlantic Airways Ltd extended the suspension of its London-Hong Kong flights by almost seven months to late March due to “ongoing operational complexities” even as the Asian city gradually eases some of the world’s tightest Covid-19 restrictions and people start to travel once again. The UK-based airline intends to resume the service on March 26, rather than ...

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• 22 July

  Biden’s doubts about Pelosi trip leave Taiwan feeling ‘hurt’

  

  Bloomberg Taiwan has been left “hurt” and confused by contradictory signals coming out of Washington over a possible visit to Taipei by House Speaker Nancy Pelosi. Pelosi is planning a trip to Asia that would include a visit to Taiwan, according to people familiar with the matter. It would be the first by a House speaker to Taipei since 1997. ...

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• 22 July

  China’s Xi wishes Biden speedy recovery from Covid infection

    Bloomberg China’s Xi Jinping wished US President Joe Biden a speedy recovery from Covid-19, as the two leaders prepare to speak over the phone to ease tensions between the two largest economies. The Chinese president sent the goodwill message to Biden, 79, on Friday, state broadcaster China Central Television said. Biden tested positive for Covid-19 on Thursday, contracting the ...

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• 22 July

  Singapore conducts fifth execution in four months

    Bloomberg Singapore carried out its fifth execution for drug-related crimes in less than four months, Amnesty International said, while neighbors Malaysia and Thailand move to relax punishments for similar offenses. Nazeri bin Lajim was hanged Friday for possession of 33.4 grams (1.2 ounces) of heroin a decade ago, the rights group said, as Singapore continued to press ahead with ...

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