February, 2022

• 8 February

  Rise in inventories sounds an alarm about inflation

    As companies worldwide work to rebuild their stockpiles of goods, they are sending a message about inflation. The trouble is that message is far more worrisome than many people have concluded, and it poses a bigger-than-expected problem for policy makers and the markets. Consider last week’s release of US gross domestic product numbers for the fourth quarter. Those who ...

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• 8 February

  Airbus defuses German strike threat as union reaches deal

  

    Bloomberg Airbus SE dodged the threat of strikes in Germany, reaching a labor deal that will allow continued production of its best-selling A320 jetliner. The accord rules out compulsory job cuts at restructured parts plants until the end of 2030, according to the IG Metall union. Airbus agreed to invest in the sites until at least that date and ...

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• 8 February

  Frontier to buy discounter Spirit airlines for $2.9bn

  

    Bloomberg Frontier Group Holdings Inc agreed to buy Spirit Airlines Inc. for $2.9 billion in cash and stock, uniting two ultra-low-cost carriers targeting the recovering US leisure-travel market. Spirit shares rose the most in 14 months. Spirit investors will receive 1.9126 Frontier shares and $2.13 in cash for each Spirit share, according to a statement Monday. The deal implies ...

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• 8 February

  Danish fund sells $3m Wizz Air stake in spat over labor practices

  

    Bloomberg A Danish pension fund said it will exit its $3 million stake in Wizz Air Holdings Plc after talks failed to resolve concerns surrounding the discount carrier’s labor practices. AkademikerPension, which manages around $23 billion, said Monday that it will sell the stock after Wizz rebuffed a plea for it to recognize staff rights concerning freedom of association ...

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• 8 February

  ‘Bleisure’ trips boom as travelers mix work and play

  

    Bloomberg It’s an age-old question: “Business or pleasure?” For airline passengers these days, the answer increasingly is both. The growth in so-called “bleisure” trips blending personal getaways with remote work has helped fill seats on planes during the coronavirus pandemic and marks a shift in travel patterns for an industry used to clear divisions between briefcase-toting road warriors and ...

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• 7 February

  Retail’s challenge lies in ‘number of returns’

    Bloomberg US retailers are bracing for more returns than usual, adding stress to an industry already grappling with increasing labor costs and supply-chain issues. Shoppers are expected to return more than $761 billion in merchandise sold last year, representing about 16.6% of total US retail sales, according to a survey of retailers. That’s up from 10.6% during 2020. Fraudulent ...

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• 7 February

  Boris Johnson seeks reset over ‘partygate’ with time running out

  

    Bloomberg Boris Johnson promised his Conservative Party an overhaul of his top team as he strives to keep his job after a series of gaffes and scandals. Two rapid appointments over the weekend may already be too late. Reeling from the resignation of five aides in 24 hours last week, the UK prime minister moved quickly to fill key ...

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• 7 February

  US ‘acquiesced’ to China in Asia seas, Australia minister says

    Bloomberg The US and its allies need to push back harder against China after they “acquiesced and allowed” Beijing to expand its footprint in the South China Sea over the past decade, Australia’s Defense Minister Peter Dutton said. “If we continue on that trajectory, then I think we’ll lose the next decade,” Dutton said in an interview with the ...

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• 7 February

  Joe Manchin predicts passage for US electoral reform act

    Bloomberg Senator Joe Manchin predicted passage for a bill to address US election procedures including Congress’s role in certifying an election. “I think absolutely it’ll pass,” Manchin, a West Virginia Democrat, said during a joint appearance with Senator Lisa Murkowski, an Alaska Republican, on CNN’s “State of the Union.” “Will it be a step ahead? Will it be important ...

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• 7 February

  Ottawa declares emergency after protests spin ‘out of control’

  

    Bloomberg Canada’s capital city declared a state of emergency as police struggled to rein in protests against vaccine mandates and Covid-19 restrictions. Ottawa Mayor Jim Watson, who declared the emergency, said that increasingly rowdy demonstrations posed a “serious danger and threat to the safety and security of residents.” Hundreds of trucks continue to occupy the downtown area near Canada’s ...

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