March, 2022

• 22 March

  Cathay rallies as Hong Kong plans to ease curbs

  

  Bloomberg Cathay Pacific Airways Ltd shares jumped to their highest intraday level since June 2020 on Monday morning as Hong Kong Chief Executive Carrie Lam announced that a flight ban on nine countries would be lifted and mandatory quarantine eased to seven days from 14. The shares rose as much as 4.9% before paring their gain to 0.8% at the ...

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• 22 March

  Delta Air boosts worker pay 4% as bookings spring to life

  

  Bloomberg Delta Air Lines Inc will give most of its 75,000 employees a 4% pay increase as the carrier emerges from the coronavirus pandemic’s drubbing. Flight attendants and ground employees — such as ticket and gate agents, baggage handlers and mechanics — are eligible for the raise, which takes effect from May 1. It applies to employees worldwide except those ...

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• 22 March

  Zara warns online orders face delays in Spain over strike

    Bloomberg A Spanish truck-driver strike going on for the last week is now delaying deliveries by Inditex SA, the world’s largest clothing retailer. Inditex is warning clients that buy products on its Zara website that shipments could suffer delays due to the strike. The strike over fuel prices has been disrupting supply chains in the country. Last week, a ...

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• 22 March

  UK’s Ted Baker surges most in two years over Sycamore bid

  

    Bloomberg Ted Baker shares gained the most in almost two years after Sycamore Partners Management said it’s considering making an offer for the UK fashion brand, which lost more than 90% of its value in the past four years. The private equity firm said the considerations are in the early stages and there’s no certainty it will make an ...

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• 22 March

  Canada retail sales jump 3.2% in January

  

  Bloomberg Canadian retailers posted stronger-than-expected revenue gains in January, though business waned in February, according to data from the country’s statistics agency. Sales jumped 3.2% in January, led by a pick-up in auto sales but with broad-based increases across sectors, Statistics Canada said in a release. That momentum didn’t continue into February, when receipts fell 0.5%, according to preliminary estimates ...

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• 22 March

  Xi’s bet on Putin to counter US risks leaving China isolated

  

  Bloomberg Xi Jinping bet that establishing a “no limits” friendship with Vladimir Putin could prevent the US from containing China. Now that agreement threatens to leave Beijing more isolated and alone. A phone call between Xi and US President Joe Biden appeared to achieve no major breakthroughs. The US continued to threaten unspecified consequences if China provides support to Russia, ...

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• 22 March

  UK says Russia made hoax calls to British ministers

  

    Bloomberg The UK blamed Russia for hoax calls made last week to three cabinet ministers, calling it “standard practice” from the Kremlin as Vladimir Putin’s administration seeks to distract from its failings on the battlefield in Ukraine. Defense Secretary Ben Wallace and Home Secretary Priti Patel both said last week they’d received calls by impostors posing as the Ukrainian ...

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• 22 March

  China’s imports from Lithuania collapse amid diplomatic spat

    Bloomberg China slashed the amount of goods it purchased from Lithuania by almost 90% in the first two months of the year after the two countries became embroiled in a political and trade dispute late last year. Imports from Lithuania dropped 88.5% in dollar terms in the two months from the same period last year, according to figures by ...

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• 22 March

  EU set to line up with Biden to warn China over Putin

  

    Bloomberg The European Union (EU) looks set to reinforce the US warning to China that Beijing would face serious consequences if it tried to cushion the blow of sanctions against Russia or provide Moscow with military support. The EU and the US have been coordinating closely ahead of a virtual EU-China summit on April 1 and will continue to ...

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• 22 March

  Argentine president calls for extraordinary inflation steps

  

  Bloomberg Argentine President Alberto Fernandez called on his government to implement “all necessary measures” to combat 52% inflation that’s been aggravated by the surge of global commodity prices due to the Russia’s invasion of Ukraine. In a sombre, 18-minute speech, Fernandez said his ministers would start rolling out new measures without providing specifics. Earlier in the week, he declared a ...

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