May, 2022

• 13 May

  Rolls-Royce says Chinese curbs weighing on jet-engine recovery

  

  Bloomberg Rolls-Royce Holdings Plc said renewed coronavirus restrictions in China are holding back crucial service revenue from its jetliner engines even as markets begin to recover elsewhere. Over the first four months of 2022, flying hours, which determine revenue-generating maintenance visits, were 42% higher than the prior year, London-based Rolls-Royce said. “Passenger demand is recovering on routes where travel restrictions ...

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• 13 May

  Kohl’s fends off activist Macellum’s bid to overhaul board

  

  Bloomberg Activist investor Macellum Capital Management’s bid to overhaul the board of Kohl’s Corp was rejected by investors. Kohl’s shareholders voted against all 10 directors nominated by Macellum, according to a preliminary tally, the retailer said in a statement. The hedge fund has been pressuring the company for two years to overhaul its board or sell itself. That seems unlikely ...

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• 13 May

  Tibet Air bursts into flames at takeoff in China airport

    Bloomberg A Tibet Airlines plane burst into flames after veering off the runway during takeoff at China’s Chongqing Airport, footage on social media showed. The front portion of the Airbus A319 aircraft was engulfed in flames and enveloped by thick black smoke. Passengers carrying bags and other items were seen on the tarmac running away from the burning jet. ...

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• 13 May

  Boeing shares rise amid signs of turnaround

    Bloomberg Boeing Co would consider selling stock to repair its balance sheet if its battered shares recover and the company hits milestones like finally restarting 787 Dreamliner deliveries, Chief Financial Officer Brian West said. “All options are on the table,” West told a Goldman Sachs Group Inc conference. While a prominent customer has publicly questioned the company’s strategic vision ...

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• 13 May

  North Korea fires 3 ballistic missiles ahead of Biden’s visit

  

  Bloomberg North Korea fired three short-range ballistic missiles from an area near Pyongyang toward waters off its east coast, South Korea said, the latest in a series of volleys ahead of a planned visit to the region next week by US President Joe Biden. Launched at 6:29 pm local time on Thursday, the missiles flew about 360 kilometres (224 miles) ...

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• 13 May

  EU considers boosting Ukraine arms funding to 2 billion euros

  

  Bloomberg The European Union’s top diplomat, Josep Borrell, is pushing member states to boost the amount of Ukrainian military aid the bloc will finance by 500 million euros ($522 million) to 2 billion euros, according to people familiar with the discussions. Member states have yet to agree to the proposal regarding the European Peace Facility, with Germany the main holdout ...

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• 13 May

  Croatian diplomat rejects leader’s Nato threat

  

  Bloomberg Croatia’s top diplomat rejected President Zoran Milanovic’s threat to veto the accession of Sweden and Finland into Nato, vowing that the government would ensure they were brought into the alliance. “We won’t be the only nation to defy the principles and values of Nato, which we fought so hard to join,” Foreign Minister Gordan Grlic Radman told reporters in ...

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• 13 May

  Serbia, Kosovo on collision course over EU council seat

  

  Bloomberg Kosovo’s announcement that it plans to join Europe’s top human rights body triggered a protest from Serbia, which has vowed to halt the attempts at international recognition of its neighbour, whose sovereignty it rejects. “Serbia can’t do much, but will fight on the international scene for further withdrawals of recognition of Kosovo independence,” Serbian President Aleksandar Vucic said in ...

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• 13 May

  Sri Lanka names Ranil Wickremesinghe as next PM

    Bloomberg Ranil Wickremesinghe, a veteran lawmaker and former premier, has been named Sri Lanka’s next prime minister days after the last incumbent, the brother of President Gotabaya Rajapaksa, resigned in the face of escalating anger with the deepening economic crisis. The president’s media unit confirmed the appointment in a text message. No other details were immediately available. The announcement ...

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• 13 May

  Africa faces dual pandemic, says US HIV program head

    Bloomberg John Nkengasong, the outgoing head of Africa Centres for Disease Control and Prevention, said the continent is facing the dual pandemics of Covid-19 and HIV, which could lead to the emergence of new variants. As he readies himself to lead the US global AIDS program, he warned that the continent is on a very uncertain and unpredictable trajectory ...

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