May, 2022

• 18 May

  JD.com’s revenue jumps, defying China lockdown

    Bloomberg JD.com logged better-than-expected 18% revenue growth, after China’s second-largest e-commerce operator grew market share to cushion the blow from Covid lockdowns across the country’s biggest cities. Sales climbed to 239.7 billion yuan ($35.6 billion) in January-March, beating the 236.7 billion yuan average of analyst forecasts. It reported a net loss of 3 billion yuan. JD’s stock surged more ...

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• 18 May

  United raises outlook for summer travel

    Bloomberg United Airlines Holdings sees even stronger travel demand this summer, with second-quarter passenger revenue increasing as much as 25% over the 2019 level, the airline said. United told investors last month it would return to profitability in the second quarter with the aid of record sales, spurred by strong recovery for summer travel. Chicago-based United also affirmed a ...

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• 18 May

  China vows to stop US from disrupting Xi’s big party meet

  

    Bloomberg China’s most senior diplomat vowed to counter any perceived US efforts to disrupt a once-in-five-year Communist Party meeting at which President Xi Jinping is set to secure a precedent-breaking third term. Beijing should “resolutely respond to any words and deeds by Washington to suppress and contain China” before the 20th party congress later this year, Yang Jiechi wrote ...

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• 18 May

  Sturgeon says Scotland to rejoin Nato post leaving UK

  

  Bloomberg Scotland is committed to rejoining Nato along with the European Union should it gain independence from the UK after Russia’s invasion of Ukraine heightened security risks, First Minister Nicola Sturgeon said. In a speech in Washington, the Scottish National Party (SNP) leader said the war had made membership in the alliance more vital. She pointed to Scotland’s strategic position ...

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• 18 May

  UK plans law to override Brexit in EU challenge

  

  Bloomberg Boris Johnson’s government plans to introduce legislation within weeks to override parts of the Brexit deal it negotiated with the European Union, a move that’s likely to escalate tensions with the bloc and raise the prospect of a trade war. While the UK would prefer to reach a negotiated solution, the situation in Northern Ireland means Britain has to ...

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• 18 May

  G-7 to discuss Ukraine aid package in Berlin

    Bloomberg Group of Seven (G-7) finance ministers meeting in Bonn will discuss an aid package to support the immediate financial needs of Ukraine, according to government officials. While final figures have not yet been decided, the G-7 will probably consider a preliminary contribution of 5 billion euros ($5.3 billion) for the first month, said two people familiar with the ...

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• 18 May

  North Korea deploys military to fight 1.5 million ‘fever cases’

  

  Bloomberg Kim Jong-un mobilised North Korea’s military to help fight one of the biggest crises he has faced in his decade as leader, as suspected Covid-19 cases reached nearly 1.5 million in less than a month. Pyongyang reported 269,510 new “fever cases” and six deaths nationwide in a 24-hour period, the state’s official Korean Central News Agency reported. Since late ...

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• 18 May

  Twitter must prove bot claims for $44b deal to proceed: Musk

  

  Bloomberg Elon Musk declared he won’t proceed with his $44 billion takeover of Twitter Inc. unless the social media giant can prove bots make up fewer than 5% of its users, casting yet more uncertainty over the deal. The billionaire tweeted “this deal cannot move forward” unless Twitter provides proof of its claims, reiterating his own view that the ratio ...

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• 18 May

  Microsoft plans to ‘nearly double’ salary budget to retain staff

  

  Bloomberg Microsoft Corp plans to “nearly double” its budget for employee salary increases and boost the range of stock compensation it gives some workers by at least 25%, an effort to retain staff and help people cope with inflation. The move will mainly affect “early to mid-career employees,” the software giant said in a statement. “As we approach our annual ...

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• 18 May

  Euro area GDP grows more than estimated at start of year

  

  Bloomberg The euro-area economy grew more than initially estimated at the start of the year as the region moved past a wave of Covid-19 infections and defied headwinds from the early days of the war in Ukraine. Economic output rises 0.3% in the first quarter, exceeding a flash reading of 0.2%, according to Eurostat figures released Tuesday. Employment, meanwhile, gained ...

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