March, 2022

• 23 March

  Thailand unveils relief measures to counter rising energy prices

  

  Bloomberg Thailand will freeze retail diesel prices and subsidise cooking gas prices for the low-income groups, part of a raft of measures unveiled to provide relief to consumers hit hard by soaring energy prices. Retail diesel prices will be capped at 30 baht ($0.9) a liter till the end of April, PM Prayuth Chan-Ocha told reporters after a cabinet meeting …

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• 23 March

  737 jet crash shakes Boeing’s tenuous recovery in China

  

    Bloomberg Boeing Co faces a new crisis after a 737 jet fell out of the sky in China, renewing concerns about its best-selling family of planes and extending one of the most turbulent periods in the aviation titan’s century-long history. The 737-800 aircraft operated by China Eastern Airlines Corp nose-dived into mountainous terrain with 132 people on board, prompting …

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• 23 March

  Cathay to fly once every 14 days when US, UK ban lifts

  

  Bloomberg Traveling to Hong Kong isn’t set to get much easier once a ban on flights from nine countries including the US and the UK is lifted, with Cathay Pacific Airways Ltd planning just one inbound flight every two weeks. The airline said it isn’t able to expand its schedule any more than what it was planning due to “the …

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• 23 March

  Nike jumps after beating sales estimates across all regions

  

    Bloomberg Nike Inc shares jumped in late trading after quarterly results beat analysts’ expectations, showing the world’s largest athletic-wear retailer is overcoming struggles with its supply chain and weakness in China. Global sales rose 5% to $10.9 billion for the third quarter, beating Wall Street’s estimates. Revenue outpaced expectations in all regions, including Greater China, where sales fell less …

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• 23 March

  Carrefour in talks to sell Taiwan unit to Uni-President

  

  Bloomberg Carrefour SA is in advanced talks to sell a controlling stake in its Taiwanese operations to its local minority partner Uni-President Enterprises Corp, according to people familiar with the matter. Uni-President has emerged as the likeliest buyer for the French grocer’s 60% of the business, the people said, asking not to be identified because the matter is private. The …

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• 23 March

  Kohl’s asks Goldman to discuss with select bidders for retailer

    Bloomberg Kohl’s Corp said it has authorised Goldman Sachs Group Inc to coordinate with select bidders for the retailer so they can “refine and improve” their offers with proof of financing and binding documentation. Kohl’s said in a statement that it has received multiple preliminary indications of interest that are nonbinding and don’t have committed financing. Separately, the company …

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• 23 March

  Alibaba hikes buybacks to $25 billion

    Bloomberg Alibaba Group soared 11% after ramping up its share buyback program to $25 billion, fuelling hopes that Beijing is easing off an internet crackdown that wiped out $470 billion of the e-commerce giant’s value. The board approved the program, which will run for two years through to March 2024, the company said. It also appointed a new independent …

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• 23 March

  British companies want to list anywhere but in London now

  

    Bloomberg A growing number of UK companies is ditching a home listing to go abroad, after a series of high-profile flops cast doubt on London’s campaign to attract startups and initial public offerings (IPOs). The UK is heading for its worst first quarter for IPOs since 2009, according to data compiled by Bloomberg. The war in Ukraine and soaring …

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• 23 March

  Stocks, futures rise as oil’s rally pauses

  

    Bloomberg Stocks climbed with US equity futures as a selloff in bonds deepened on Tuesday on Federal Reserve Chair Jerome Powell’s signals the central bank will take more aggressive measures to clamp down on inflation. The Stoxx Europe 600 Index marched higher, led by banks and cyclical stocks like automakers. Futures on the S&P 500 and Nasdaq 100 flipped …

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• 22 March

  China Eastern 737 jet crashes with more than 130 on board

  

    Bloomberg A China Eastern Airlines Corp Boeing Co 737-800NG plane carrying 132 people crashed in China’s southwestern province of Guangxi. According to FlightRadar24, China Eastern flight MU5735 was traveling from Kunming to Guangzhou, and radar tracking shows the aircraft descending steeply. Eyewitness videos posted to social media showed a forest fire on a mountainside at what was purported to …

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