June, 2022

• 6 June

  Calhoun sees two-year wait on designing new jetliner

  

    Bloomberg Boeing Co won’t launch a new jetliner any time soon to address Airbus SE’s widening sales lead in the narrow-body market, Chief Executive Officer Dave Calhoun said. Prominent customers like Air Lease Corp founder Steven Udvar-Hazy have been calling on Boeing to get moving on the mid-sized aircraft family Calhoun tabled two years ago. But there are no …

  Read More »
• 6 June

  American Air expects higher revenue and expenses in Q2

  

    Bloomberg American Airlines Group Inc expects revenue to balloon well above its original expectations this quarter as consumers swarm back to travel following the pandemic, helping the carrier absorb the impact of higher jet-fuel prices and other expenses. Total revenue will jump by as much as 13% over the same period of 2019, the Fort Worth, Texas-based airline said …

  Read More »
• 6 June

  UK travellers to face more airport misery, Tube strike

  

  Bloomberg UK travellers are bracing for further widespread disruption as airports and roads struggle to cope with a surge in people returning from Jubilee weekend getaways and London Tube workers head out on strike. Lengthy queues are expected at airport passport controls while roads will be clogged with 19 million drivers expected to get behind the wheel over the weekend, …

  Read More »
• 6 June

  Walmart: Reducing inventory glut will take ‘couple quarters’

    Bloomberg Walmart Inc said it needs another two quarters or so to work through an inventory surge that prompted markdowns and contributed to last month’s steep stock decline. About a fifth of the 32% jump in inventories last quarter came from merchandise piling up more quickly than the company wanted, said John Furner, chief of Walmart’s US operations. Another …

  Read More »
• 6 June

  Starbucks to reopen its Shanghai stores

    Bloomberg Starbucks said it’s reopening its stores in Shanghai after a wave of Covid-19 infections and government lockdowns hurt its business in key Chinese market. The Seattle-based company has reopened 600 of its 940 stores in the city, a spokeswoman said by email. Starbucks is moving quickly to restart business there on just the third day of Shanghai’s official …

  Read More »
• 5 June

  China raises pressure on banks to help developers

  

    Bloomberg Chinese banks are facing growing pressure to support cash-strapped developers after months of pleas by regulators failed to boost lending to the industry. Local branches at the People’s Bank of China (PBOC) have called for meetings with banks in multiple cities since last week to assess why loans have slowed, along with the difficulties faced by banks and …

  Read More »
• 5 June

  Deutsche Bank plans multi-strategy push into private credit

  

    Bloomberg Deutsche Bank AG is planning a fresh push into private credit across a range of strategies, according to people familiar with the plans. The plans include raising money from external investors to expand its offering in the $1.2 trillion market. The lender is seeking to raise about 2 billion euros ($2.14 billion) initially from new and existing investors …

  Read More »
• 5 June

  Canadian banks issue flurry of bonds as stagflation fears mount

  

    Bloomberg Canadian banks have already raised more cash in bond markets than in the whole of 2021 as jitters about the global economy and conditions in the financial markets run high. With almost seven months to go in 2022, Canadian bank sales of corporate bonds in the domestic and international markets are close to C$168 billion dollars ($133.6 billion) …

  Read More »
• 5 June

  ECB’s Villeroy says inflation is too strong and too broad

  

    Bloomberg The European Central Bank (ECB) must pare back stimulus as inflation is too strong and too broad, Governing Council member Francois Villeroy de Galhau said. In a speech at an economics conference in Paris, the Bank of France chief said that even a measure of core inflation — which strips out the impact of surging prices of food …

  Read More »
• 5 June

  Hungary raises key interest rate

    Bloomberg Hungary raised its key interest rate after the currency falls close to an all-time low following the central bank’s decision to slow the pace of some of its monetary tightening. The one-week deposit rate was raised by 30 basis points to 6.75%, highest effective rate in the EU and matching the median estimate in a Bloomberg survey. Deputy …

  Read More »