June, 2022

• 16 June

  New HSBC breakup plan is deeply unconvincing

  

  Ping An Insurance Co has little chance of winning big backers for its quest to break up HSBC Holdings Plc if the best that can be said for the plan is a lackluster value analysis laid out by a Hong Kong-based consultancy. The Shenzhen-based insurer has been trying for months to convince HSBC that shareholders would value its Asian businesses ...

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• 16 June

  Coinbase made some big mistakes

  

  Crypto has long been sold as the tradition-busting future of finance, but its collapse is following a decades-old script. Take Coinbase. The crypto exchange went public at $250 a share in April 2021, when Bitcoin was worth more than $63,000, near its all-time high. Now Bitcoin is flirting with $20,000, and Coinbase is trading at less than $50 a share. ...

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• 16 June

  Yen won’t be moved by the ‘90s nostalgia

    With Gen Z bringing back everything from “Friends” to cassette tapes, and Will Smith the most talked-about celebrity of the year, it’s tempting to think everything ‘90s is in right now. In financial markets this week, analogies with 1998 have become ubiquitous as the yen has buckled, increasing speculation Japan will have to intervene to strengthen its currency for ...

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• 16 June

  The world can stave off Putin’s food fight

    Russian forces have bombed grain silos and farms and plundered Ukrainian wheat, which US diplomats say Moscow is now trying to sell on. Ukraine’s Black Sea ports are blocked by mines to protect the shoreline from attack by Russia’s navy, which is also bottling up shipments. And yet, if President Vladimir Putin is to be believed, Western selfishness and ...

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• 16 June

  3,000 hires stuck in system amid UK travel chaos: BA

  

  Bloomberg British Airways has around 3,000 potential recruits stuck in background checks that are taking up to four months, it said at a parliamentary hearing into the travel chaos gripping UK airlines and airports. Appearing before the House of Commons transport committee Tuesday, executives from BA, EasyJet Plc and TUI AG provided details of staff shortages they say are to ...

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• 16 June

  Spirit in talks with JetBlue, but Frontier deal still on

  

    Bloomberg Spirit Airlines Inc is holding talks with would-be suitor JetBlue Airways Corp over its revised $3.4 billion all-cash takeover bid and will announce a recommendation from its board ahead of a June 30 shareholder meeting. The deep-discount carrier said it’s also continuing talks with Frontier Group Holdings Inc over a previous buyout deal originally valued at $2.9 billion ...

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• 16 June

  Etsy investors risk more pain after record selloff, inflation

  

    Bloomberg Etsy Inc’s bad news for investors goes beyond the 66% plunge that’s the second-biggest in the S&P 500 Index this year: The unraveling of the platform for craft sales may have further to go, especially with the fastest inflation in 40 years crimping consumer budgets. With Etsy shares already near their cheapest on record, UBS Group AG slashed ...

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• 16 June

  Swiss airspace reopens after air traffic control malfunction

  

  Bloomberg Europe’s air travel chaos spread to Switzerland on Wednesday after a technical malfunction at the country’s air traffic control system shut down flights nationwide and left thousands stranded across the continent. Swiss airspace was closed around 6:30 am and remained so for roughly two hours. Zurich Airport said flights gradually returned to normal operating capacity as of 10 am. ...

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• 15 June

  United exits stake in parent of former ExpressJet Air

    Bloomberg United Airlines Holdings Inc has quietly divested its stake in the parent company of former regional carrier ExpressJet Airlines Inc, according to people familiar with the matter. United had maintained a 49.9% position in ManaAir after shuttering ExpressJet’s regional feed operations almost two years ago after the onset of the Covid-19 pandemic. ExpressJet, which has an operating certificate ...

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• 15 June

  Walmart seeks UK sellers for e-commerce

    Bloomberg Walmart Inc is seeking UK retailers to join its online marketplace in an attempt to give British businesses another e-commerce alternative to Amazon and EBay. Approved British sellers will be able to sell their goods on Walmart.com, which is visited by more than 120 million people every month, the US shopping giant said in a statement. In a ...

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