February, 2022

• 14 February

  Boeing not to rush process of resuming 787 deliveries

  

    Bloomberg Boeing Co said it’s not racing to resume deliveries of its 787 Dreamliner as the company played down the risk that customers waiting for the jet might switch to rival planemaker Airbus SE. Stan Deal, president and chief executive officer of Boeing Commercial Airplanes, said the company is in talks with all the affected airlines and indicated he …

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• 14 February

  JD Sports hit by $5.8m fine over ‘banned deal’

  

    Bloomberg JD Sports Fashion Plc was fined 4.3 million pounds ($5.8 million) after Britain’s merger watchdog said the retailer broke confidentiality rules during its vetoed bid for rival Footasylum. The Competition and Markets Authority (CMA) said that the two sports retailers failed to put sufficient safeguards in place to avoid sharing commercially sensitive information. The CMA said that in …

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• 14 February

  PepsiCo falls with higher costs overshadowing revenue gains

  

  Bloomberg PepsiCo Inc gave a full-year sales outlook that was ahead of estimates as the company looks to pass the burden of higher costs onto consumers. Organic revenue is projected to rise 6% this year on an adjusted basis, compared with the 5.4% average estimate, after fourth-quarter growth exceeded analysts’ expectations. The company said that core earnings per share were …

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• 14 February

  Airlines rise on optimism travellers returning to skies

  

  Bloomberg Airline stocks recorded their first back-to back weekly gains gain since early October, potentially marking the beginning of a long-overdue recovery, amid growing signs that a reopening of the economy is gaining pace. The S&P Supercomposite Airlines Industry Index closed up 6.1%, after a 3% gain, as investors continue to shun higher-risk growth stocks given expectations for aggressive interest-rate …

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• 14 February

  TAG Heuer’s CEO says prices to increase for most watches

    Bloomberg TAG Heuer, the maker of luxury watches worn by tennis star Naomi Osaka and actor Ryan Gosling, plans to boost prices for most of its watches later this year. The Swiss brand, part of luxury giant LVMH SE, plans increases in April of about 5% to 6% for most timepieces, except smart watches, Chief Executive Officer Frederic Arnault …

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• 14 February

  Hong Kong fresh food supplies hit again

    Bloomberg Hong Kong’s supplies of vegetables and chilled poultry will be affected “to a certain extent” after some vehicle drivers tested positive for the coronavirus, prompting authorities to suspend a border transport interchange, the government said. The facility for goods vehicles was temporarily closed for disinfection and mainland drivers who stayed at the interchange venue on that day are …

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• 14 February

  PBOC’s rate decision sparks debate with economy in crisis

  

    Bloomberg The People’s Bank of China (PBOC) is leaving economists divided over whether it needs to cut interest rates for a second month to boost a faltering economy. Sixteen of the 27 economists polled by Bloomberg forecast the central bank will keep the interest rate on its one-year policy loans unchanged on Tuesday, when it’s scheduled to conduct a …

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• 14 February

  Axis Bank set to buy Citigroup’s $2.5b retail unit in India

  

    Bloomberg Axis Bank Ltd is nearing a deal to buy Citigroup Inc’s India retail banking business in a transaction that could be valued at about $2.5 billion, people familiar with the matter said. An agreement for the consumer unit may be announced as soon as the next few weeks and is contingent on approval from the Reserve Bank of …

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• 14 February

  BofA aims to offer card-free online purchases following investment

  

    Bloomberg Bank of America (BofA) Corp has led a $20 million funding round into UK startup Banked Ltd, a tie up that will give customers of e-commerce companies in the UK the option to make card-free purchases. The US lender is teaming up with the fintech to offer a ‘Pay by Bank’ solution that will enable users to pay …

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• 14 February

  DBS CEO cautions on Fed hikes after profit surge

  

    Bloomberg DBS Group Holdings Ltd Chief Executive Officer Piyush Gupta said investors in Southeast Asia’s largest lender should be cautious about uncertainties stemming from Federal Reserve interest rate hikes and slowing Chinese growth. That tone followed the release of strong profit growth for the fourth quarter, wrapping up a year which he described as the bank’s best financial performance …

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