May, 2022

• 15 May

  Toronto airport’s wait times to worsen amid staff shortages

  

    Bloomberg Canadians travelling through Toronto Pearson International Airport are facing lengthy wait times and the situation is likely to worsen in coming weeks. The airport is being hit with a double whammy of staffing shortages and longer processing times due to public health screening measures, according to Greater Toronto Airports Authority spokesperson Tori Gass. The Covid-19 measures can double ...

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• 15 May

  Auckland airport to start its new expansion phase

    Bloomberg New Zealand’s busiest airport will start a new phase of expansion when construction of a transport hub begins next month. Auckland International Airport will invest NZ$300 million ($189 million) in the project, which will allow undercover pick-up and drop-off for cars and buses adjacent to the existing international terminal, CEO Carrie Hurihanganui said. Adjoining land has been set ...

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• 15 May

  Cathay cash burn improves as curbs eased

    Bloomberg Cathay Pacific Airways Ltd expects cash burn to drop to less than $64 million a month within “the next few months” as Hong Kong gradually rolls back some of the world’s strictest, and longest Covid-19 curbs. “The recent adjustments to the government’s travel restrictions and quarantine requirements will help facilitate the gradual resumption of travel activities and the ...

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• 15 May

  Finland tells Russia of Nato plan, downplays Turkey concerns

  

  Bloomberg Finnish President Sauli Niinisto phoned Russian President Vladimir Putin to say the Nordic country plans to seek Nato membership in the near term. The conversation with Putin “was direct and straight-forward and it was conducted without aggravations,” he said in a statement. The move would be a “mistake because there are no threats to Finland’s security,” Putin told his ...

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• 15 May

  G-7 blames North Korea arms push for health emergency

  

  Bloomberg Foreign ministers of the Group of Seven (G-7) industrialised nations blamed North Korea’s push for weapons of mass destruction for the humanitarian situation in the country, as state media reported more than 170,000 new cases in a worsening fever outbreak. In a joint statement following a meeting in northern Germany, the G-7 ministers expressed their grave concern about the ...

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• 15 May

  Asean stops short of calling out Russia

  

  Bloomberg A summit with Southeast Asian leaders organised and hosted by President Joe Biden concluded at the White House with a group statement that omitted any condemnation of Russia’s invasion of Ukraine. The nations participating in the summit, called the Association of Southeast Asian Nations or Asean, issued a statement calling for the “immediate cessation of hostilities” in Ukraine. The ...

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• 15 May

  Guinea military rulers ban political protests

  

    Bloomberg Guinea’s military rulers banned all protests in the West African nation, days after announcing a three-year transition to democracy. Opposition political and civil-society groups in the world’s top exporter of bauxite have rejected the timeline, saying that it was adopted without consultation and say they will continue with demonstrations. “Any breach of these guidelines will result in legal ...

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• 15 May

  Biden’s midterm hopes bedeviled by ‘economy in distress’

  

  Bloomberg President Joe Biden’s hopes for a political reset have been overwhelmed by an unrelenting series of economic setbacks, adding to the challenges Democrats face as they court exhausted voters ahead of the crucial midterm election in November. US gasoline prices are at historic highs. Inflation in April exceeded consensus forecasts. Technology stocks have plummeted, taking retirement accounts with them. ...

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• 15 May

  Global lenders flee the monster SPAC market they helped create

  

    Bloomberg Just a few years after banks helped create a gargantuan market for blank check companies, they’re pulling away from the deals, afraid of the risks. Goldman Sachs Group Inc is ending its involvement with most of the special purpose acquisition companies it took public and pausing new US SPAC issuance, Bloomberg reported. Bank of America Corp (BofA) scaled back ...

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• 15 May

  Credit Suisse weighs removing Gottstein as soon as this year

  

    Bloomberg Credit Suisse Group AG’s board has held early stage talks on potentially replacing Chief Executive Officer Thomas Gottstein after a string of scandals and misfires, people with knowledge of the matter said. A change at the top of the bank could come as early as this year. While the board continues to publicly voice support for Gottstein, some ...

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