June, 2022

• 4 June

  China electric car sales rose in May

    Bloomberg China’s legion of electric carmakers appear to be shaking off the worst of the nation’s lockdown-induced supply chain snarls and parts shortages, with at least four selling over 10,000 vehicles last month. The May bounce back in deliveries is an encouraging sign for the world’s biggest electric-vehicle market. The improved month-on-month shipments came despite residents of Shanghai — …

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• 4 June

  Shareholders’ support helps Singapore Air beat pandemic

  

    Bloomberg The day after Wuhan went into a lockdown in January 2020, Singapore Airlines Ltd Chief Executive Officer Goh Choon Phong called a crisis meeting at Airline House, the company’s massive, factory-like headquarters at the end of Changi Airport’s runways. The question to be answered: How bad is this going to be? Within weeks, as China locked down more …

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• 4 June

  Alibaba replaces Lazada CEO in SE Asia shakeup

  

    Bloomberg Alibaba Group Holding Ltd replaced Lazada Group Chief Executive Officer Chun Li with the head of its Thailand business and one-time business assistant to Alibaba CEO Daniel Zhang as competition in Southeast Asia intensifies. James Dong, 42, is taking the reins of Lazada, Alibaba’s Southeast Asian arm, with immediate effect while Li will serve as adviser to Lazada …

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• 4 June

  Plant milk on cusp of boom as it targets ‘a new demographic’

  

    Bloomberg Plant milk is on the cusp of another boom as the industry courts a huge demographic it has ignored so far: children. Using colourful bottles of oat and pea milk packed with protein and prebiotics, the category is winning over parents. At Ripple Foods, a startup that has raised more than $200 million, its plant-based option for kids …

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• 4 June

  Levi Strauss sees sales reaching $10b in new set of targets

  

    Bloomberg Denim maker Levi Strauss & Co is scaling up investment in its stores and website, as well as women’s apparel, to reach a sales target of $9 billion to $10 billion by 2027. In a new set of strategic targets, Levi now sees sales growth of 6% to 8% annually, up from its prior goal of 4% to …

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• 4 June

  Lady M seeks new funds at $600m value

    Bloomberg Lady M is weighing a new funding round that could value the New-York based bakery chain at about $600 million, according to people familiar with the matter. The company, known for its signature Mille Crepes cakes, is looking to raise about $20 million to fuel its expansion in Asia, said the people, asking not to be identified discussing …

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• 3 June

  Futures drop with Tesla jobs, US payrolls in focus

  

  Bloomberg US index futures fall after a report that Tesla Inc Chief Executive Officer Elon Musk said the electric carmaker needs to cut staff amid a gloomy economic outlook. Investors are also awaiting key US payrolls data that they will study for clues on the pace of Federal Reserve policy tightening. Tesla shares slid 4.2% in New York premarket trading. …

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• 3 June

  Strong dollar latest headache for pricey software stocks

  

    Bloomberg Even better-than-expected earnings haven’t been enough to stem this year’s rout in software stocks, and now the sector is getting hit with another headwind: the stronger dollar. Salesforce Inc, one of the last big tech companies to report first-quarter earnings, surprised investors with a bullish forecast this week. Overall, 85% of software companies in the S&P 500 reported …

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• 2 June

  Delta Air falls as jump in costs overshadow demand, pricing

  

  Bloomberg Delta Air Lines Inc fell, leading declines across the airline industry, after saying fuel and a decrease in flying capacity are driving costs higher than what the carrier had expected, overshadowing an otherwise upbeat forecast. Costs for each seat flown a mile, an industry gauge of efficiency, will be up as much as 22% this quarter compared to 2019 …

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• 2 June

  Untrained pilots land passenger jet in India

  

    Bloomberg Vistara, an Indian joint venture of conglomerate Tata Group and Singapore Airlines Ltd, has been fined after a first officer landed a passenger flight without completing required training. The incident, which occurred during a landing in the central Indian city of Indore, was a serious violation that endangered the lives of passengers on board, according to a senior …

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