June, 2022

• 24 June

  Are we living in a 1970s economy once again?

  The 1990s are having a moment in consumer culture. But with the world in the grip of rampant inflation, and Britain enduring a summer of discontent, it feels like we’re living in a 1970s economy. Nineties nostalgia has been building for some time. Bold logos, which disappeared after the financial crisis, have made a splashy comeback. Burberry Group Plc has ...

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• 24 June

  Why many of Trump’s people can’t resist him

    Each episode of the true-crime drama currently airing from Room 390 of the Cannon House Office Building in Washington has offered variations on a theme: Former President Donald Trump used the powers of his office, and blunt force, to foment a coup after losing the 2020 presidential election. The plot twists have largely involved how individuals or institutions responded ...

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• 24 June

  Tap sees uncertain market driving key investor search

  

    Bloomberg Portugal’s state-owned airline Tap SA said a new investor would put it on a more solid footing as it pushes ahead with a restructuring program amid higher fuel costs and increasing geopolitical uncertainty. “It’s a very difficult market,” Chief Executive Officer Christine Ourmieres-Widener said. “Fuel costs are increasing. We could have wars, we could have pandemics, so being ...

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• 24 June

  Lufthansa slashes 2,200 flights over staff shortages

  

  Bloomberg Deutsche Lufthansa AG cancelled 2,200 flights after a wave of coronavirus infections worsened staffing shortages, adding to Europe’s travel chaos as the crucial summer vacation period gets under way. Germany’s flagship airline scrapped both domestic and European routes for July and August, a spokesman said. That follows 900 cancellations announced earlier this month. Lufthansa fell as much as 3.3% ...

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• 24 June

  South Africa sued over $3 sale of troubled national airline

  

  Bloomberg South Africa’s government and national airline are being sued by a little-known investment firm, which wants the sale of a majority stake in the carrier scrapped and re-run due to a lack of transparency. This year’s acquisition of 51% of South African Airways (SAA) by the Takatso Consortium — made up of a local jet-leasing company and a private-equity ...

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• 24 June

  British Airways staff at Heathrow vote to strike over pay

  

  Bloomberg British Airways (BA) workers at London Heathrow airport are set to strike in a dispute over pay, adding to a wave of industrial action across Europe that threatens to unleash travel chaos in the region this summer. The GMB and Unite unions said hundreds of BA check-in staff backed walkouts during the peak vacation period after the carrier refused ...

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• 24 June

  Tesco CEO says shoppers are ‘terrified’ of inflation

    Bloomberg More than 75% of people are “terrified” of the effect the cost-of-living crisis will have on their families, according to the head of UK’s largest supermarket. Tesco Plc Chief Executive Officer Ken Murphy said the grocer has done a lot of research about how people are feeling right now as they battle the worst inflation to hit Britain ...

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• 24 June

  TUI CEO to quit after handling Covid crisis

    Bloomberg TUI AG Chief Executive Officer Fritz Joussen is set to leave after almost 10 years at the helm of the world’s biggest tour operator, having steered the company through the Covid-19 crisis. Joussen, 59, will step down at the end of September, according to a statement. Chief Financial Officer Sebastian Ebel will replace him and Mathias Kiep, the ...

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• 24 June

  Joe Biden limps to G-7 as allies fret over his troubles at home

  

  Bloomberg US President Joe Biden’s political fortunes have changed dramatically since his first Group of Seven summit last summer, or even his last visit to Europe in March. It couldn’t come at a worse time for his international allies as Russia settles into a long war with Ukraine. German Chancellor Olaf Scholz, who will welcome G-7 leaders in the Bavarian ...

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• 24 June

  China’s ambassador to Australia heckled by Sydney protesters

  

  Bloomberg China’s chief envoy to Australia was heckled by several protesters in Sydney on Friday as he delivered a speech that attempted to go some way towards repairing relations between the trading partners. One shouted about the detention of members of the Uighur minority group in China, while another protester called ambassador Xiao Qian “a disgrace” as he addressed the ...

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