June, 2022

• 29 June

  Heathrow hits out at CAA for reduced airport charge plan

    Bloomberg The UK Civil Aviation Authority (CAA) reduced the charges London Heathrow airport will be able to levy from airlines over the next five years. The hub said the fees don’t cover required investments and that the passenger experience is set to suffer. UK airports have already been struggling with resurgent traffic as pandemic restrictions ease, with flight and ...

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• 29 June

  Weilong revives $500m Hong Kong IPO

    Bloomberg Weilong Delicious Global Holdings Ltd has revived its Hong Kong initial public offering, paving the way for one of the city’s biggest listings this year. The Chinese snack maker refiled a preliminary prospectus, confirming an earlier Bloomberg News report. The filing doesn’t contain any offering details. The company could raise about $500 million in a share sale, which ...

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• 29 June

  G-7 grapples for ways to punish Russia while taking on China

  

  Bloomberg Group of Seven nations agreed to stick by Ukraine to the bitter end and ratchet up the cost to Russia of its aggression, while leaving much of the detail of how to do so unresolved. At the conclusion of a G-7 summit in Germany, leaders stressed their “unwavering commitment” to the government and people of Ukraine, and made clear ...

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• 29 June

  Australian PM warns China to learn from Putin’s mistakes: AFR

  

  Bloomberg Australian Prime Minister Anthony Albanese has warned the Chinese government to learn the lessons of Russia’s “strategic failure” in Ukraine, as he heads to Europe for a meeting of Nato leaders. In an interview with the Australian Financial Review, conducted en route to Spain for the Nato meeting, Albanese said the Ukraine invasion had brought democratic nations together, “whether ...

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• 29 June

  Nato allies still seeking progress with Turkey on expansion

  

  Bloomberg Officials heading to the Nato summit in Madrid are holding out hope of persuading Turkey to allow Finland and Sweden to advance their membership applications. US President Joe Biden told his Turkish counterpart, Recep Tayyip Erdogan, in a phone call on Tuesday morning that he’s looking forward to speaking to him in the Spanish capital, the White House said. ...

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• 29 June

  UK would have to pay $17b for public sector 7% bump

  

  Bloomberg The UK government would have to pay £14 billion pounds ($17 billion) a year to give public-sector workers the 7 percent pay raise that some of them are demanding. The figures, from an analysis by Bloomberg Economics, shed light on the options Prime Minister Boris Johnson is facing to defuse the biggest round of strikes in decades. Rail workers ...

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• 29 June

  Millions in California to get up to $1,050 in ‘inflation relief’

  

    Bloomberg California Governor Gavin Newsom announced that he had reached an agreement with state legislators on a $17 billion “inflation relief package.” “Millions of Californians will be receiving up to $1,050 as part of a new middle class tax rebate. That’s more money in your pocket to help you fill your gas tank and put food on the table,” ...

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• 29 June

  VW sells Siemens minority stake in Electrify America

  

    Bloomberg Volkswagen AG is selling a 10% stake in Electrify America, the electric-car charging subsidiary it established in the wake of its diesel-emissions scandal, to Siemens AG, according to people familiar with the matter. The partners are also set to announce an investment of $450 million in the network, likely to be announced later Tuesday, they said, declining to ...

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• 29 June

  Euro area consumer confidence dips in June

    Bloomberg Euro area consumer confidence approached its lowest level since the early months of the pandemic as soaring inflation weighs on purchasing power and households fret about the knock-on effects of Russia’s war in Ukraine. A monthly gauge from the European Commission showed a reading of -23.6 in June — down from -21.1 in May. and worse than the ...

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• 28 June

  Stocks rise as China cuts quarantine; dollar steady

  

    Bloomberg Stocks rise on Tuesday after China softened its strict Covid-19 protocols, easing investor concerns about global growth. Mining and energy shares led gains in Europe’s Stoxx 600, while US equity futures advanced about 0.6%. An Asian equity index erased losses to climb for a fourth session. China cut in half the time new arrivals must spend in isolation, ...

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