May, 2022

• 14 May

  Technology stocks are in a bear market!

  It has been a rough few months for US stocks but even rougher for shares of technology companies. The widely followed and tech-heavy Nasdaq Composite Index is down about 30% since it peaked in November. Investors may be wondering whether tech stocks are a bargain. The answer is no: They’re a lot cheaper but not cheap yet. One way to ...

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• 14 May

  Janet Yellen is right about costs of overturning Roe

    You wouldn’t think a hearing of the Senate Banking Committee would turn into a debate over abortion rights. But overturning Roe vs Wade would have real costs for the US economy, and Treasury Secretary Janet Yellen was entirely correct to note them in a tense and revealing exchange with Senator Tim Scott. Limiting or eliminating access abortion “would have ...

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• 14 May

  Food prices rise above Britain inflation in cost of living crisis

  

  Bloomberg The decades-long era of cheap food in Britain may be coming to an abrupt end. With the UK wilting under the fastest inflation in three decades, supermarkets are raising prices at an even quicker rate, according to a new analysis prepared for Bloomberg. That’s turning the screws on shoppers who are already grappling with higher gas and heating bills ...

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• 14 May

  Tesco CEO receives $5.7m amid food poverty crisis

  

    Bloomberg The chief executive officer of Tesco Plc received 4.7 million pounds ($ 5.7 million) last year after he helped steer Britain’s biggest grocer and private sector employer through the Covid-19 pandemic. Most of Ken Murphy’s bumper package was driven by performance-related bonuses for helping Tesco manage severe staff shortages, panic-buying and major supply chain blockages as Covid infections ...

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• 14 May

  South Africa sets plans to cash in on revived national carrier

  

  Bloomberg South Africa’s government has retained special voting rights in the country’s national carrier even after selling a majority stake, and will be given 3 billion rand ($186 million) in preference shares that can be redeemed through future cashflow. That means the state stands to benefit should new owner, the Takatso Consortium, revive a carrier that’s struggled under years of ...

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• 14 May

  Qantas banking on fliers to pay $12,000 for 24-hour flights

  

  Bloomberg Wanted: Hundreds of people to sit in a plane for 20 hours. Must be willing to pay lots of money. Claustrophobes needn’t apply. Conceived prior to the Covid crisis, Qantas Airways Ltd’s plan to operate the world’s longest nonstop commercial flights from southeast Australia to New York and London is being resurrected in a much-changed aviation landscape, with global ...

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• 14 May

  American says Sabre had monopoly in tickets market

    Bloomberg A lawyer for American Airlines Group Inc urged a jury to award the carrier almost $300 million in overcharges and lost profits, arguing that Sabre Holdings Corp illegally dominated the market for booking airline tickets. “There’s one company in this travel business that doesn’t compete,” Paul Yetter told the jurors at the end of a three-week federal trial ...

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• 14 May

  Shein’s growth slows, testing $100b valuation

    Bloomberg Shein, the Chinese fast fashion giant that’s quickly become the third-most valuable startup in the world, is seeing a reality check with sales growth slowing from the lofty heights of the pandemic, just as it faces mounting pressure to live up to a $100 billion valuation. The online-only retailer of inexpensive clothes, beauty and lifestyle products has become ...

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• 14 May

  Sweden edges closer to Nato after key parliamentary report

  

  Bloomberg Sweden’s potential Nato entry would lower the risk of a Russian attack, according to a policy report commissioned by parliament that fell short of directly endorsing membership in the defense alliance. The 43-page review concluded that joining the North Atlantic Treaty Organization (Nato) would act as a deterrent, stressing the importance of coordination with neighbouring Finland. Russia, which invaded ...

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• 14 May

  UK sanctions ‘friends’ supporting Putin’s ‘luxury lifestyle’

  

  Bloomberg The UK ramped up its sanctions on Russia, targeting friends and family members it said were helping to prop up President Vladimir Putin’s “luxury lifestyle.” Individuals sanctioned include Putin’s former wife, Lyudmila Ocheretnaya, and Alina Kabaeva, a former gymnast and Chair of the Board of the National Media Group who is alleged to have a close relationship with the ...

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