July, 2022

• 8 July

  United blames FAA control system for snarl

    Bloomberg United Airlines Holdings Inc blamed the US Federal Aviation Administration and the nation’s air traffic control system for exacerbating the issues plaguing the industry, saying the agency has been overwhelmed by the volume of flights. The FAA rejected that criticism in a sharply worded rejoinder. The carrier estimated that more than 50% of its delay minutes and 75% ...

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• 8 July

  Johnson quits after months of scandals hammer UK Tories

  

  Bloomberg Boris Johnson has resigned as UK prime minister, bringing the curtain down on a tempestuous three years in office marred by a succession of scandals that culminated in the rebellion of his own cabinet and parliamentary group. Johnson, 58, bowed to the inevitable after the mass resignation of members of his government, including Chancellor of the Exchequer Rishi Sunak, ...

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• 8 July

  Biden turns to direct attacks on Trump as midterm elections near

  

  Bloomberg President Joe Biden accused former President Donald Trump of “dismissing and ignoring the forgotten people he promised to help” in a unusually blunt attack, indicating that the White House may be trying to turn the midterm elections into a referendum on his predecessor. Biden, at an event in Cleveland, slammed Trump repeatedly during his remarks unveiling new regulations governing ...

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• 8 July

  Australia, China foreign ministers to meet at G-20 to reset ties

  

  Bloomberg The foreign ministers of Australia and China will meet for the first time in almost three years as the two nations try to reset a relationship that has often been marked by diplomatic tensions and economic tariffs. The two ministers will have bilateral talks at the Group of 20 meeting in Bali, China’s foreign ministry said Thursday. News of ...

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• 8 July

  Ardern urges diplomacy over Pacific tensions

  

  Bloomberg New Zealand Prime Minister Jacinda Ardern said China’s increasingly assertive stance in the Pacific must be addressed through dialogue and diplomacy. “In the wake of the tensions we see rising, including in our Indo-Pacific region, diplomacy must become the strongest tool and de-escalation the loudest call,” Ardern said in a speech to the Lowy Institute Thursday in Sydney. “We ...

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• 8 July

  Romania opens Soviet-era rail line to aid Ukraine grain sales

  

    Bloomberg Romania reopened a Soviet-era rail link connecting its Danube River port of Galati to Ukraine a month earlier than expected to help boost vital grain exports from its neighbour. Ukraine, known the breadbasket of Europe, typically exports the bulk of its grain from Black Sea ports, but they’ve been blocked by Russia’s invasion. That’s constraining sales to road, ...

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• 8 July

  Indian rupee rises as RBI eases rules to boost foreign inflows

  

    Bloomberg India’s central bank mounted a fresh defense of the beleaguered rupee, announcing a raft of measures to boost foreign-exchange inflows, that analysts said may not immediately result in large capital flows. The steps include doubling borrowing limits for companies from overseas to $1.5 billion during a financial year, temporarily removing any interest-rate ceiling for banks to attract deposits ...

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• 8 July

  NatWest raises pay for staff in face of inflation

  

    Bloomberg NatWest Group Plc will give more than 22,000 staff an average pay rise of around £1,000 ($1,199) from September to help them cope with the cost-of-living crisis. Staff earning less than £32,000 will get a 4% salary rise, according to an internal memo seen by Bloomberg News. NatWest said it had discussed the move with Unite and the ...

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• 8 July

  BOJ likely to raise price forecasts

  

  Bloomberg The Bank of Japan (BOJ) is likely to consider revising its inflation and growth forecasts later this month as a weaker yen and cost-push inflation force more companies to pass on higher costs to consumers, according to people familiar with the matter. The central bank will probably raise its quarterly price projection to its target level of 2% or above ...

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• 8 July

  Digital pounds unlikely to work like cash: BOE

  

    Bloomberg The Bank of England (BOE) is unlikely to offer a digital form of the pound that works like banknotes, opting instead for an instrument managed through some sort of account. Deputy Governor Jon Cunliffe, who is overseeing the BOE’s work on central bank digital currencies, said policy makers are thinking about how to make the pound work better ...

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