July, 2022

• 28 July

  Lufthansa passengers face day of turmoil as staff strike

  

  Bloomberg Deutsche Lufthansa AG passengers in Frankfurt and Munich faced an almost complete shutdown of operations on Wednesday as a walkout by ground crew forced Europe’s largest airline group to cancel more than 1,000 flights at its two busiest German hubs. The airline axed the services at short notice, slamming unions for causing major damage by escalating a wage dispute ...

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• 28 July

  Wizz Air deepens cuts to its summer schedule

  

  Bloomberg Wizz Air Holdings Plc will deepen cuts to its summer schedule, doubling down on efforts to combat disruption from a staffing squeeze that’s upended Europe’s transport industry. After announcing a 5% reduction in peak-season seating, Wizz, the region’s third-biggest discount carrier, will extend the cuts to about 10%, Chief Executive Officer Jozsef Varadi said. “We’ve been going through some ...

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• 28 July

  Frontier, JetBlue at a stalemate in merger battle for Spirit Airlines

  

    Bloomberg With a fateful vote a day away, Spirit Airlines Inc is standing alone at the altar despite having two suitors that have spent months trying to acquire the low-cost carrier. Spirit’s proposed merger with Frontier Group Holdings Inc doesn’t have enough support from shareholders, and the acquirer has said it’s not sweetening the terms of the deal any ...

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• 28 July

  General Electric tops estimates after aviation sales surge

  

    Bloomberg General Electric (GE) Co beat Wall Street’s expectations for second-quarter profit and reported surprise positive cash flow as sales at the key jet-engine division soared, buoying the conglomerate despite supply woes that continue to pressure the balance sheet. GE Aerospace’s sales jumped 27% while orders climbed 26% in the period, the company said in a statement, as rebounding ...

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• 28 July

  LVMH falls slightly short of investors’ high hopes

    Bloomberg LVMH fell slightly short of the high bar the world’s biggest luxury company has set for itself, as continued strong sales from the owner of Louis Vuitton bags and Dom Perignon Champagne failed to impress some investors. The French company posted solid results for the second quarter in Europe, the US and Japan but suffered from a poor ...

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• 28 July

  Adidas issues profit warning as sales suffer

    Bloomberg Adidas AG issued a profit warning after its sales were hit by lockdowns and consumer boycotts in China, offsetting strong momentum in its key western markets. The German sneaker company said although its second-quarter results are “somewhat ahead of expectations” with strong growth in Western markets, the recovery in Greater China was slower than expected. Adidas shares fell ...

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• 27 July

  Pelosi’s peers say don’t cave to Beijing over Taiwan stop

  

  Bloomberg House Speaker Nancy Pelosi is getting bipartisan support for a possible trip to Taiwan, with some lawmakers from both parties arguing that it’s important that the top leader in the US Congress show no sign of giving in to pressure from China’s government. “If we can allow the Chinese to dictate who can visit Taiwan and who cannot, then ...

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• 27 July

  Joe Biden to speak with China’s Xi on Thursday as US-China ties worsen

  

  Bloomberg President Joe Biden will speak with Chinese leader Xi Jinping on Thursday amid fresh tensions over Taiwan, according to people familiar with the matter. The first conversation between the two presidents since March will take place at a particularly difficult juncture for US-China ties: House Speaker Nancy Pelosi’s staff and security officials aren’t ruling out plans for her to ...

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• 27 July

  Turkey says Ukraine grain exports could start within a week

  

  Bloomberg Turkey said grain exports from Ukrainian ports could resume within a week and reach 25 million tonnes by the end of the year, after it brokered a deal between Kyiv and Moscow that eased fears of a global food crisis. Exactly when exports halted by Russia’s invasion would begin will be determined by logistical groundwork, Turkish President Recep Tayyip ...

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• 27 July

  North Korea warns of 2nd Korean War on armistice anniversary

  

  Bloomberg North Korea used the anniversary of the armistice that halted fighting on the peninsula 69 years ago to warn of a “second Korean War,” blaming the US and South Korea for inflaming hostilities. “The joint military exercises between the United States and South Korea, which are being carried out with a thick gunpowder smell, are exacerbating the situation on ...

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