April, 2022

• 27 April

  Harry’s moves beyond cheap razors for next growth spurt

  

  Bloomberg Harry’s Inc catapulted to fame by selling sleek, low-priced razors over the internet. A decade on, it’s now generating more than half of its sales from brick-and-mortar stores, its founders said. The closely held company, which made a splash taking on what founders Andy Katz-Mayfield and Jeff Raider saw as big corporations’ overpriced offerings, is seeing the sales payoff ...

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• 27 April

  Ryanair accuses Poland of favouring domestic airlines

    Bloomberg Ryanair Holdings Plc accused Poland of discrimination amid an ongoing dispute between the government and the country’s air traffic controllers. The airline filed a complaint with the European Union against Poland, saying that the local regulator is breaking the bloc’s rules by unfairly prioritising national carrier PLL Lot. According to Ryanair, its Polish competitor is favoured by route ...

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• 27 April

  JetBlue shares tumble as it cuts growth plan

    Bloomberg JetBlue Airways Corp, hammered by delays and cancellations this year, is cutting its summer schedule by more than 10% from original plans and reining in growth ambitions for the full year. The Long Island City, New York-based carrier is reducing flights for a second time this year as it now projects growth of between zero and 5% and ...

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• 27 April

  Myanmar court adds more jail time for Suu Kyi on corruption

  

  Bloomberg A special court in Myanmar sentenced Aung San Suu Kyi to five years in prison in the first of several corruption charges leveled against the deposed civilian leader, according to a person familiar with the matter. The judge handed down the verdict immediately after convening the court, said the person who declined to be named as he is not ...

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• 27 April

  Taiwan says Ukraine war lessons will be used in military drills

  

  Bloomberg Taiwan’s military says it plans on using lessons learned from the two-month-old war in Ukraine during annual exercises the island relies on to defend itself from any invasion by China. The Defense Ministry made the announcement, when it said war games would be held May 16-20 and live-fire drills July 25-29. Scenarios for the annual Han Kuang exercises “will ...

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• 27 April

  A powerful dynasty bankrupted Sri Lanka in 30 months

  

  Bloomberg Ahead of the November 2019 election, Sri Lankan presidential challenger Gotabaya Rajapaksa proposed sweeping tax cuts so reckless the incumbent government thought it must be a campaign gimmick. The finance minister at the time, Mangala Samaraweera, called a briefing to assail the “dangerous” pledge to reduce the value-added tax to 8% from 15% and scrap other levies. To him, ...

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• 27 April

  Venezuela appoints new high court

    Bloomberg Venezuela’s government-controlled National Assembly appointed the justices who’ll comprise a new slimmed down Supreme Court, many of them holdovers from the previous court, in a nod to overhauling a judicial system that’s long been criticised for its lack of independence. The assembly chose 20 magistrates in all, 12 of whom were re-appointed to the court, known as the ...

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• 27 April

  China’s central bank seeks to calm markets with support pledge

  

    Bloomberg China’s central bank pledged to support the economy through targeted financing for small businesses and a quick resolution of the ongoing crackdown on technology firms in Beijing’s latest bid to reassure investors nervous about growth and Covid lockdowns. The People’s Bank of China (PBOC) “will step up the prudent monetary policy’s support to the real economy, especially for ...

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• 27 April

  European stocks decline as Russian gas cut dims mood

  

    Bloomberg European stocks extended three days of declines as investors came to grips with the implications of cuts in gas supplies from Russia and the prospect of faltering growth. The Stoxx 600 Europe Index fell almost 1% while S&P 500 and Nasdaq 100 contracts also gave up early gains in the wake of a technology-led slump that pushed the ...

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• 27 April

  Sri Lankan shares rebound as World Bank grants financial aid

  

    Bloomberg Sri Lanka stocks rallied, marking their first day of gains since April 5, after the World Bank said it will allocate funds to ease the nation’s economic crisis. The Colombo All-Share Index ended 6.8% higher, after losing about 15% in the past two days. The bluechip S&P Sri Lanka 20 Index surged 14%. Trading had to be suspended ...

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