July, 2022

• 19 July

  Qantas forecasts more travel bumps ahead

  

  Bloomberg Qantas Airways Ltd, which has faced severe criticism from passengers over disruptions, is anticipating further challenges in the coming weeks as it navigates staff sickness and a tight labour market. Passengers angered by delays and cancellations have lashed out at the airline and Chief Executive Officer Alan Joyce, particularly over a decision to shed thousands of jobs. The carrier ...

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• 19 July

  Mid-air malfunctions come on top of SpiceJet’s financial woes

  

    Bloomberg SpiceJet Ltd staged one of global aviation’s most remarkable turnarounds in 2015 after founder Ajay Singh swept in at the eleventh hour to rescue it. Less than a decade later, the Indian budget airline needs a revival of fortunes again. Once an investor darling, SpiceJet is now the worst-performing airline stock in Asia, fighting a run of negative ...

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• 19 July

  Embraer sees supply chain snarls clouding 2022 jet goal

    Bloomberg Snarls along the aviation supply chain may make it a challenge for Embraer SA to meet its year-end commercial delivery targets, the Brazilian aerospace manufacturer said. “We are suffering with these supply chain constraints. We had a difficult first half,” Chief Executive Officer Francisco Gomes Neto said in an interview with Bloomberg. “We’re doing everything we can to ...

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• 19 July

  Esprit planning comeback in Asia with departure from fast fashion

  

    Bloomberg Esprit Holdings Ltd, the once high-flying Hong Kong fashion retailer before it tumbled into years of losses, is planning a comeback in Asia, pivoting away from a fast-fashion strategy where it failed to compete with brands such as Zara and H&M. The company is now focusing on better-quality clothing that’s more expensive than fast-fashion apparel but more sustainable, ...

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• 19 July

  H&M to exit Russia over current situation

    Bloomberg Swedish retailer Hennes & Mauritz AB will start winding down its operations in Russia, having halted all sales in the country in March after Russia’s attack on Ukraine. The Stockholm-based company expects to book costs of 2 billion kronor ($190 million) from the process, of which about 1 billion kronor will have a cash-flow impact, it said in ...

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• 19 July

  Russia orders forces to strike Ukraine’s long-range weapons

  

  Bloomberg Russian Defense Minister Sergei Shoigu ordered part of his forces to focus on destroying Ukraine’s long-range missile and artillery systems during a visit to troops in occupied territory. Shoigu “instructed the commander to prioritize the defeat of long-range rocket and artillery weapons of the enemy with high-precision weapons” during a meeting with the military’s Vostok group, the Russian Defense ...

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• 19 July

  Emergency curbs protests as Sri Lanka awaits new president

  

  Bloomberg Sri Lanka will this week elect a new president, who would need the support of both lawmakers and protesters in order to pull the bankrupt country out of its worst economic crisis. Legislators in the 225-seat parliament will on Tuesday submit nominations for the post, left vacant after President Gotabaya Rajapaksa fled to Singapore and resigned. Voting is due ...

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• 19 July

  Pakistan’s Khan demands early polls after by-election win

  

    Bloomberg Former Pakistan premier Imran Khan called for early national elections after his party swept the by-elections in the country’s most populous state, underscoring the risks the government faces as it seeks a bailout from the International Monetary Fund. Khan was ousted in April following a protracted political drama that saw Shehbaz Sharif take over as prime minister. Since ...

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• 19 July

  Talk of socialism adds spice to abrasive UK leaders’ debate

  

  Bloomberg Clear dividing lines over the economy emerged as the UK’s leadership race turned personal in the second of three debates to determine who will succeed Boris Johnson as prime minister. Front-runner and former Chancellor Rishi Sunak accused Foreign Secretary Liz Truss and former Defence Secretary Penny Mordaunt, his two closest rivals, of “socialism” as he attacked their plans to ...

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• 19 July

  Bulgarian party gets chance to form cabinet, avoid snap election

    Bloomberg Bulgaria’s president will give the Socialist Party a mandate to form a new government in a last-ditch bid to avoid triggering the fourth election in less than two years. It’s the European Union member’s final chance to quickly quell a political crisis that ousted Prime Minister Kiril Petkov’s four-party coalition in a no-confidence motion last month. But the ...

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