February, 2022

• 28 February

  European industry faces shrink or shut decisions on energy pain

  

  Bloomberg Europe’s biggest industrial firms have been banking on spring to bring down soaring energy costs. Those hopes faded this week as Russian tanks rolled into Ukraine. Smelters and chemical factories across Europe were already struggling before the invasion sparked another jump in gas and electricity prices. Now, a growing list of companies including Europe’s biggest chemicals maker BASF SE …

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• 28 February

  Boeing, Airbus in discussion for multi-jet order from Air India

  

    Bloomberg Boeing Co and Airbus SE are in talks with the new owners of Air India Ltd about an order for a raft of new planes, according to people familiar with the matter, part of a plan to rejuvenate the ailing carrier and its aging fleet. Tata Sons Pvt, which acquired the debt-laden airline from the Indian government last …

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• 28 February

  British Airways’ systems outage grounds planes

  

  Bloomberg British Airways canceled more than 150 short-haul flights to and from its London Heathrow hub through midday, citing “continuing technical issues” following a systems outage. Morning departures to Milan, Geneva and Aberdeen were among those scrapped, with the carrier predicting further disruption through the day and advising people to check the status of their flight before heading to the …

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• 28 February

  Singapore Airlines roars back to quarterly profit on travel jump

  

    Bloomberg Singapore Airlines Ltd swung back to quarterly profit for the first time since the onset of the pandemic, helped by strong cargo demand and the island city’s sustained efforts to revive international travel. The carrier reported net income of S$85 million ($63 million) for the third quarter ended on December 31 versus a loss of S$142 million the …

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• 28 February

  Lowe’s shares rise on sales beat, increase in full-year outlook

  

    Bloomberg Lowe’s Cos beat Wall Street’s sales expectations and raised its full-year outlook as professional contractors increasingly turn to the home-improvement retailer for their materials. The company now predicts comparable sales will rise as much as 1% this year, according to a statement, compared with an earlier forecast calling for at best no change from the prior year. Gross …

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• 28 February

  Delta Air suspends marketing alliance with Russia’s Aeroflot

    Bloomberg Delta Air Lines Inc suspended a marketing agreement with Aeroflot, Russia’s national airline, after the country invaded Ukraine. Withdrawal of the code-sharing accord, an industry practice that enables passengers to book a multicarrier trip through one airline, is effective immediately, Delta said. The suspension means Delta will no longer book passengers flying through Los Angeles and New York …

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• 28 February

  India’s Reliance takes over 200 Future stores

    Bloomberg Reliance Industries Ltd is taking over 200 stores from struggling Future Group and transferring 30,000 workers from the Future Retail and Future Lifestyle operations, Business Standard reported. Future Group’s financial problems have led landlords to terminate leases, with a number of them contacting Reliance to negotiate new agreements for the 200 outlets, the newspaper said, citing an unidentified …

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• 28 February

  China banks limit financing for Russian commodities

  

  Bloomberg At least two of China’s largest state-owned banks are restricting financing for purchases of Russian commodities, underscoring the limits of Beijing’s pledge to maintain economic ties with one of its most important strategic partners in the face of sanctions by the US and its allies. Industrial & Commercial Bank of China Ltd.’s offshore units stopped issuing US dollar-denominated letters …

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• 28 February

  Goldman probed over messages sent using unapproved services

  

    Bloomberg Goldman Sachs Group Inc. became the latest bank to be investigated over employee communications over unapproved messaging services. The New York-based company is cooperating with the Securities and Exchange Commission and producing documents related to a probe into “compliance with records preservation requirements relating to business communications sent over electronic messaging channels that have not been approved by …

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• 28 February

  Lagarde says ECB will do what is needed to secure financial stability

  

    Bloomberg The European Central Bank will do everything in its power to safeguard the stability of prices and the financial system in the euro area, according to President Christine Lagarde. While it’s too early to judge the overall economic impact of Russia’s invasion of Ukraine, persistent uncertainty will likely drag on investment and consumption and impede growth, Lagarde told …

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