February, 2022

• 25 February

  Alibaba has a bigger problem now

  

  Alibaba Group Holding Ltd’s slowest quarter on record comes amid a prolonged crackdown on China’s major technology companies. It’s easy to conflate the two. But the increased regulatory burden is overshadowed by even harsher problems. Chief among them: peak customer. It’s a reminder that the country’s burgeoning middle class is no longer easy pickings for high-flying companies with ubiquitous platforms. ...

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• 25 February

  Coinbase needs more than a Bitcoin giveaway

    Coinbase Global Inc Chief Executive Officer Brian Armstrong has been publicly basking in the positive response to the cryptocurrency-trading platform’s Super Bowl TV commercial. The ad offering new users $15 in free Bitcoin was a marketing bonanza. But while generating buzz is a good thing, getting attention for giving away money won’t fix the major problems with Coinbase’s business. ...

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• 25 February

  Sanction is West’s best weapon against Putin

    Vladimir Putin has done it. Ignoring near-universal condemnation, the Russian president has launched a full-scale invasion of Ukraine, confirming the West’s worst fears. It’s an abominable act of unprovoked aggression that threatens global security and stability. The world’s response must be swift and exacting. Putin’s actions reflect a willful disregard for international law and the lives of innocent people. ...

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• 25 February

  British Airways owner IAG sees return to profit in Q2

  

  Bloomberg British Airways owner IAG SA said it should turn profitable from the second quarter, joining other European carriers in predicting a travel rebound in coming months. While IAG, which also owns Spain’s Iberia and Aer Lingus of Ireland, sees a “significant” loss this quarter, bookings are now running at 85% of pre-pandemic levels as concerns about the omicron variant ...

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• 25 February

  Omicron costs Qantas Air $470mn in profit

  

    Bloomberg Qantas Airways Ltd said Omicron is delaying the airline’s recovery and eating into earnings, with international travel wallowing at less than half normal volumes for months to come. While demand has picked up since Australia’s border reopened this month, the impact of the fast-spreading Covid variant will cost Qantas A$650 million ($470 million) of operating profit in the ...

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• 25 February

  Air Canada in talks to add Airbus A321s as coronavirus gloom lifts

  

    Bloomberg Air Canada is in talks with Airbus SE about adding longer-distance A321neo jets alongside its fleet of Boeing Co 737 narrowbodies as travel demand rebounds, people with knowledge of the matter said. The carrier is looking at ordering 10 to 20 aircraft, one of the people said. The negotiations are preliminary and may not lead to a deal, ...

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• 25 February

  Home Depot falls most since 2020 as margins bogle investors

  

    Bloomberg Home Depot Inc shares fell the most in almost two years after fourth-quarter profitability missed Wall Street’s expectations amid supply-chain investments and higher costs. While sales remained robust for the home-improvement retailer, much of the growth appeared to be driven by higher prices as customer transactions declined and the cost of sales increased. Gross margin, a closely watched ...

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• 25 February

  Rolls-Royce CEO East to step down

  Bloomberg Rolls-Royce Holdings CEO Warren East will step down at the end of this year, after leading the engine maker through a punishing period capped by the Covid-19 pandemic. The board will conduct a search for a successor for East, a former technology executive who struggled to make Rolls a more efficient operation even before the virus hit in 2020. The ...

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• 25 February

  Putin unbowed as Russia presses on with invasion towards Kyiv

  

  Bloomberg Russian forces closed in on Ukraine’s capital and its embattled leadership as President Vladimir Putin shrugged off a barrage of sanctions imposed by the US and Europe and pressed deeper with his invasion. With the war raging Friday, Chinese President Xi Jinping told Putin in a call that he supported negotiations between Russia and Ukraine, according to China Central ...

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• 25 February

  EU set to freeze assets of Russia’s Putin, Lavrov over Ukraine

    Bloomberg European Union diplomats approved a plan to sanction Russian President Vladimir Putin and Foreign Minister Sergei Lavrov over the invasion of Ukraine, a move that would freeze their overseas assets, according to two senior officials. The asset freeze, which comes in addition to a broader package of sanctions that the EU approved early Friday, does not affect the ...

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