July, 2022

• 26 July

  How UK paid a record price to dodge blackout

    Last week, unbeknown to many outside the power industry, parts of London came remarkably close to a blackout — even as it was recovering from the hottest day in British history. On July 20, surging electricity demand collided with a bottleneck in the grid, leaving the eastern part of the British capital briefly short of power. Only by paying ...

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• 26 July

  Will rolling back tariffs help tame inflation?

    President Joe Biden’s administration has been discussing changes to US tariffs on China for weeks. Officials are concerned that high import prices are adding to inflation, and they’re looking for remedies. People familiar with the discussions say a decision will come soon — and that the result will be tweaks to the measures put in place by the Donald ...

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• 26 July

  Ryanair’s passenger bookings cloud prospects beyond ‘boom’

  

  Bloomberg Ryanair Holdings Plc said passengers remain cautious about booking, clouding its prospects beyond a summer travel boom in which it’s suffering less disruption than many of its rivals. Europe’s largest discount airline posted a profit for the first quarter through June that beat analyst estimates, and is sticking with plans to lift capacity beyond pre-Covid levels even as other ...

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• 26 July

  Boeing defense staff reject contract offer

  

    Bloomberg Nearly 2,500 members of a union that represents three Boeing Co defense locations in the St Louis area voted to reject the company’s contract offer and plan to strike starting on August 1. “We cannot accept a contract that is not fair and equitable, as this company continues to make billions of dollars each year off the backs ...

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• 26 July

  Consumer confidence drops as inflation squeezes US shoppers

  

  Bloomberg Rising prices in the US are starting to weigh on consumer spending. Two-thirds of US consumers say they are planning to reduce spending over the next six months as a result of inflation, according to a recent survey of roughly 2,000 people conducted this month by Morgan Stanley. A similar percentage identify inflation as a top concern. The number ...

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• 26 July

  Hong Kong to speed arrivals with new electronic health rule

  

    Bloomberg Hong Kong will require travellers to the city to fill out an electronic health declaration form before boarding a flight, no longer allowing them to do the paperwork after landing, in an effort to make the process more efficient. The new system will begin from July 28 on a trial basis, the government said in a statement. In ...

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• 26 July

  China’s Shein private bids imply $30b valuation drop: sources

    Bloomberg Investors looking to sell stakes in Shein are evaluating bids at discounts of about 30% to its $100 billion valuation in April, according to people familiar with the matter, amid concern about the Chinese fast-fashion giant’s slowing growth. While some current shareholders in the private company are considering cashing out ahead of a future initial public offering, the ...

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• 26 July

  Aldi’s British staff get another pay rise

    Bloomberg Aldi is giving its UK staff a pay rise for the second time this year as the German discount supermarket attracts more shoppers seeking to cope with the higher cost of living. Starting in September, Aldi will pay store workers at least £10.50 ($12.59) an hour and £11.95 in London, the highest pay among supermarkets in Britain, according ...

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• 26 July

  Moscow says Odesa missile strike won’t affect grain plan

  

  Bloomberg Russia said on Monday its missile strike on Odesa targeted a military area and wouldn’t affect plans to resume grain exports from the Black Sea port. Wheat prices have surged since the Russian attack, which came a day after it signed a Turkish-mediated deal to allow safe transit for Ukrainian grain shipments blocked since the war. Ukraine is continuing ...

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• 26 July

  China getting ‘seriously prepared’ for Speaker Pelosi visit to Taiwan

  

  Bloomberg China said it was getting “seriously prepared” for the possibility that Nancy Pelosi visits Taiwan in the coming weeks, underscoring the risk of a showdown between Washington and Beijing over a trip by the US House speaker. Chinese Foreign Ministry spokesman Zhao Lijian made the comment in response to a Financial Times report that Beijing had privately issued warnings ...

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