March, 2022

• 18 March

  British Airways operator Comair resumes ‘flights’

  

    Bloomberg South African airline group Comair Ltd resumed flights after being given the all clear by the country’s Civil Aviation Authority, which was investigating a series of incidents over concerns about safety. The decision allows the local operator of British Airways and owner of the low-cost Kulula carrier to restart services on Thursday after a five-day grounding, restoring about …

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• 18 March

  Delta CEO says Covid crisis essentially over for travellers

  

  Bloomberg Delta Air Lines Inc Chief Executive Officer Ed Bastian said the coronavirus crisis is effectively over as far as the travel sector is concerned, with demand comfortably outweighing any impact from Russia’s war in Ukraine. Delta had the two busiest days for sales in its near 100-year history last week, while the North Atlantic market has been swamped with …

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• 18 March

  Airlines lead S&P 500 rally after laying out path to profit

  

  Bloomberg US airline stocks jumped the most in the S&P 500 Index after carriers said they will trim flying to remain on track toward profits even as fuel prices rise. Several of the largest carriers, including United Airlines Holdings Inc and American Airlines Group Inc, cut their capacity forecasts for the first quarter, while Delta Air Lines Inc held growth …

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• 18 March

  Grupo Aeromexico’s shares fall near lowest price on record

    Bloomberg Grupo Aeromexico SAB’s shares fell near the lowest price on record as the company takes the final steps to emerge from Chapter 11. The stock plunged 29% to 0.41 pesos as the window closed on a voluntary tender offer that will substantially dilute existing shareholders. The price is expected to reach zero throughout the day. Aeromexico won court …

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• 18 March

  Ocado slumps on M&S venture’s weak sales

    Bloomberg Ocado Group Plc shares approached a two-year low after its online grocery joint venture with Marks & Spencer Group Plc warned that revenue may grow less than expected amid rising energy costs. Ocado Retail, as the venture is called, said it’s starting to cut costs across the business after first-quarter sales dropped 5.7%. Ocado shares fell as much …

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• 18 March

  Indonesia holds rates to support recovery with eye on war risks

  

    Bloomberg Indonesia’s central bank left its policy rate unchanged, seeking to sustain its recovery while keeping a close eye on core inflation and the impacts from the war in Ukraine on the global economy. Bank Indonesia kept the seven-day reverse repurchase rate at 3.5% on Thursday, as predicted by all 29 economists in a Bloomberg survey. The rate has …

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• 18 March

  UK to make it easier to spot racism in banking

    Bloomberg The UK will examine why access to business finance appears to be a “major barrier” for ethnic minorities, making it easier to spot racism or unconscious bias in bank lending. Boris Johnson’s government will work with lenders to understand the underlying problems after earlier research showed that the design of programs can influence demand from the ethnic minorities. …

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• 18 March

  Card payment ‘monopoly’ hobbles Mexico startups

    Bloomberg Mexican regulators need to break up an effective monopoly in the country’s credit card payments network that is benefiting big banks and hobbling startups in Mexico, said a new study commissioned by a group of financial technology firms. While regulators across Latin America have helped financial startups gain ground, Mexico is letting the country’s largest banks set the …

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• 18 March

  Biggest African bank to raise $20bn to fund green projects

  

    Bloomberg Standard Bank Group Ltd., Africa’s biggest lender by assets, plans to raise as much as 300 billion rand ($20 billion) by 2026 to help fund renewable energy projects, even as it remains open to supporting fossil fuels. The Johannesburg-based lender pledged to achieve a net zero carbon emissions target from its own operations by 2040 and from its …

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• 18 March

  BOE plays tough cop in UK economy role switch

  

    Bloomberg Like they did after the 2008 crash, the UK’s two economic policy heavyweights are playing good cop-bad cop. It’s just that this time they’ve swapped roles. In the years following the financial crisis, the Bank of England (BOE) stuck resolutely to easy money while fiscal policy got tough when Chancellor of Exchequer George Osborne imposed swingeing budget cuts. …

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