March, 2022

• 23 March

  Powell has convinced markets and he means it

    Jerome Powell seemed to get the message across this time. After the most recent Federal Open Market Committee meeting, bond yields fell as he laid out an extremely hawkish agenda in his press conference. The conventional wisdom is that traders took Powell’s repeated insistence that the economy was strong enough to withstand repeated hikes as reason to be optimistic ...

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• 23 March

  737 jet crash shakes Boeing’s tenuous recovery in China

  

    Bloomberg Boeing Co faces a new crisis after a 737 jet fell out of the sky in China, renewing concerns about its best-selling family of planes and extending one of the most turbulent periods in the aviation titan’s century-long history. The 737-800 aircraft operated by China Eastern Airlines Corp nose-dived into mountainous terrain with 132 people on board, prompting ...

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• 23 March

  Cathay to fly once every 14 days when US, UK ban lifts

  

  Bloomberg Traveling to Hong Kong isn’t set to get much easier once a ban on flights from nine countries including the US and the UK is lifted, with Cathay Pacific Airways Ltd planning just one inbound flight every two weeks. The airline said it isn’t able to expand its schedule any more than what it was planning due to “the ...

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• 23 March

  Nike jumps after beating sales estimates across all regions

  

    Bloomberg Nike Inc shares jumped in late trading after quarterly results beat analysts’ expectations, showing the world’s largest athletic-wear retailer is overcoming struggles with its supply chain and weakness in China. Global sales rose 5% to $10.9 billion for the third quarter, beating Wall Street’s estimates. Revenue outpaced expectations in all regions, including Greater China, where sales fell less ...

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• 23 March

  Carrefour in talks to sell Taiwan unit to Uni-President

  

  Bloomberg Carrefour SA is in advanced talks to sell a controlling stake in its Taiwanese operations to its local minority partner Uni-President Enterprises Corp, according to people familiar with the matter. Uni-President has emerged as the likeliest buyer for the French grocer’s 60% of the business, the people said, asking not to be identified because the matter is private. The ...

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• 23 March

  Kohl’s asks Goldman to discuss with select bidders for retailer

    Bloomberg Kohl’s Corp said it has authorised Goldman Sachs Group Inc to coordinate with select bidders for the retailer so they can “refine and improve” their offers with proof of financing and binding documentation. Kohl’s said in a statement that it has received multiple preliminary indications of interest that are nonbinding and don’t have committed financing. Separately, the company ...

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• 23 March

  Alibaba hikes buybacks to $25 billion

    Bloomberg Alibaba Group soared 11% after ramping up its share buyback program to $25 billion, fuelling hopes that Beijing is easing off an internet crackdown that wiped out $470 billion of the e-commerce giant’s value. The board approved the program, which will run for two years through to March 2024, the company said. It also appointed a new independent ...

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• 23 March

  Putin foe Navalny slams Ukraine war after new 9-year sentence

  

    Bloomberg A Russian court on Tuesday sentenced jailed opposition leader Alexey Navalny to nine years in a high-security prison in a ruling that will keep President Vladimir Putin’s top critic sidelined amid a harsh crackdown on the opposition. Navalny, who is currently serving a two-and-a-half year sentence that the European Court of Human Rights called politically motivated, in a ...

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• 23 March

  Russia cancels WWII peace talks with Japan after Ukraine sanctions

  

  Bloomberg Russia’s cancellation of talks to resolve a decades-old territorial dispute with Japan, which the Kremlin dismissed as a “ritual,” exposed a deepening rift between the two neighbors over Ukraine. Dmitry Medvedev, a former Russian president who’s now deputy head of the country’s Security Council, delivered his terse assessment of the talks on his Telegram channel on Tuesday. Medvedev said ...

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• 23 March

  US threat to sanction China spooking other Asian nations

  

    Bloomberg US President Joe Biden’s warning of unspecified consequences if China supports Russia has smaller Asian nations worried they’ll be subject to similar penalties for maintaining neutrality over Vladimir Putin’s war. Southeast Asia will host two meetings later this year — the Group of 20 summit and the Asia-Pacific Economic Cooperation forum, or Apec — that would normally bring ...

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