April, 2022

• 15 April

  Bed Bath & Beyond faces supply snags, slowing sales

  

    Bloomberg Bed Bath & Beyond Inc blamed an unexpected fourth-quarter loss and slowing sales on global supply-chain disruptions and weakening consumer confidence. The retailer said that an “abnormally high” level of inventory was in transit, unavailable or held at ports through the early part of this quarter. That contributed to a larger-than-expected drop in sales and has thrown a ...

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• 15 April

  American Air union sues over plan for training new pilots

  

    Bloomberg American Airlines Group Inc was sued by its pilots union to block a plan that would seek volunteers to help with flight-simulator training amid record hiring. The plan would violate the Railway Labor Act, which prohibits unilateral changes to contracts between airlines and their unions, according to the suit, filed by the Allied Pilots Association (APA) in a ...

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• 15 April

  Fast Retailing gains on higher profit, North America push

  

  Bloomberg Uniqlo operator Fast Retailing Co rose the most in more than three weeks after reporting a 27% jump in quarterly operating profit and kept its outlook for the fiscal year despite the shutdown of its Russian operations and the resurgence of Covid in China that are fueling uncertainty in clothing sales across the world. Operating profit rose to 70 ...

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• 15 April

  Lawson to raise chicken nugget prices for first time in 36 years

    Bloomberg Japanese convenience store operator Lawson Inc will raise the prices of its beloved chicken nugget snack “Karaage-Kun” for the first time since it was introduced in 1986. The price of the five-pack nuggets, sold in a paper envelope with a toothpick and a chicken illustration that’s instantly recognisable to anyone in the country, will increase 10 percent to ...

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• 15 April

  Brazil sales beat forecast as Omicron fades

  Bloomberg Brazil’s retail sales rose more than forecast on gains in categories such as fuels, clothing and electronics, as cases of the Omicron variant of the coronavirus plunged. Sales rose 1.1% in February from the month prior, more than the 0.3% median estimate from analysts in a Bloomberg survey. At the same time, January’s increase was revised higher to 2.1%. ...

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• 15 April

  RBNZ’s biggest hike in 22 years sounds global inflation warning

  

    Bloomberg New Zealand’s central bank delivered its biggest interest-rate increase in 22 years, signaling that policy makers around world may need to step up efforts to get inflation under control. The Reserve Bank’s Monetary Policy Committee lifted the official cash rate by half a percentage point to 1.5% in Wellington, the first time it has delivered an increase of ...

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• 15 April

  PBOC urges loans to logistics firms to ease supply chain pain

  

    Bloomberg China’s central bank pledged financial support for logistics firms and truck drivers to ensure the country can maintain supply chain stability amid the worst Covid outbreak in two years. The People’s Bank of China will ask lenders to “reasonably” extend and renew loans for the industry, it said in a statement, following a central bank meeting on coordinating ...

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• 15 April

  Standard Chartered slashes its Singapore office space by half

  

    Bloomberg Standard Chartered Plc plans to cut half of its existing office space in Singapore’s financial district, according to people familiar with the matter, in what is set to be the biggest floor reduction by a bank in the city-state in recent years. The London-based bank is giving up nine of the floors it leases at Marina Bay Financial ...

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• 15 April

  BOJ likely to increase price forecast by notable margin

    Bloomberg The Bank of Japan (BOJ) is likely to consider notable changes in its inflation and growth forecasts later this month mainly due to soaring oil and commodity prices, gains that aren’t viewed as sustainable, according to people familiar with the matter. The central bank will probably raise its projection for growth in key consumer prices to between around ...

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• 15 April

  Bank of Korea hikes key rates without governor

  

    Bloomberg The Bank of Korea (BOK) added to a wave of global action against inflation this week by raising its key interest rate, brushing aside concerns about a leadership vacuum at the bank and global risks to the export-dependent economy. The central bank raised its seven-day repurchase rate by a quarter percentage point to 1.5% in the board’s first-ever ...

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