February, 2022

• 3 February

  Wall Street’s big payday makes Fed’s job harder

    For more than a year, an egalitarian narrative dominated the discussion about US wages. Lower income workers were seeing the biggest pay increases while gains for better-paid employees lagged behind. But the quarterly results posted by banks last week may upend the dialogue. The five biggest American banks boosted compensation by 15% last year, more than twice as much ...

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• 3 February

  Aerojet chief facing probe as he launches proxy fight

  

    Bloomberg Aerojet Rocketdyne Holdings Inc. said it’s investigating Executive Chairman Warren Lichtenstein and accused him of launching a proxy fight in an effort to maintain his board position. An internal probe involving Lichtenstein is being conducted under the oversight of a committee of independent directors, the company said in a statement. The investigation is not related to Aerojet’s operations ...

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• 3 February

  British retailers see inevitable price hikes as inflation spreads

  

    Bloomberg UK retailers raised their prices at the fastest pace in more than nine years in January, a survey showed, passing on soaring costs to consumers already grappling with a cost-of-living squeeze. The report by the British Retail Consortium suggests inflation is spreading well beyond energy prices, with goods from food to furniture seeing prices driven higher in a ...

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• 3 February

  Latam Airlines judge to allow creditor vote on bankruptcy exit

  

    Bloomberg Latam Airlines Group SA can send its $5.4 billion bankruptcy-exit plan to creditors for a vote, a judge, handing the airline a partial victory over debtholders who want to pursue alternatives, including a takeover by rival Azul SA. The decision means the company can seek final court approval for its reorganization plan in April and possibly exit bankruptcy ...

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• 3 February

  Ethiopian restarts 737 Max flights three years after crash

  Bloomberg Ethiopian Airlines Group carried out its first official flight with Boeing Co.’s 737 Max since a deadly crash in March 2019 that triggered a global grounding of the jet. The three-year-old plane took off from the Ethiopian capital of Addis Ababa at 9:18 a.m. GMT on Tuesday and was in the air for about four hours before returning, tracking ...

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• 3 February

  Starbucks seeks to quash union votes at 3 NY stores

    Bloomberg Starbucks Corp. is asking the US government to quash elections underway in New York that could expand the fledgling labor foothold among its corporate-run U.S. locations. In a filing, the coffee chain asked the National Labor Relations Board to overturn an acting regional director’s ruling ordering unionization votes at three restaurants in the Buffalo region. The company argued ...

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• 3 February

  Some airlines will lose ‘shedload’ of money on oil, Ryanair says

    Bloomberg Airlines that aren’t currently hedging their fuel bills are set to lose a “shedload” of money as a result of high oil prices, the head of Ryanair Holdings Plc. Brent crude is trading near $91 a barrel as surging global consumption pushes prices to a seven-year high. That’s problematic for fuel-consuming industries like airlines, where oil can make ...

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• 3 February

  Promise of US, allied troops bolsters Nato’s eastern flank

  

    Bloomberg Thousands of additional US and allied soldiers on the ground in Eastern Europe may not alter Russia’s military calculus on Ukraine. But the commitment is a boon to Nato member states near Russia’s border. From Washington to Paris, governments have vowed to boost readiness and dispatch troops and hardware to deter Russia from attacking Ukraine —and show solidarity ...

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• 3 February

  Trump says Capitol police suing him are ‘grasping at straws’

  

    Bloomberg Donald Trump said Capitol Police officers who sued him over injuries they sustained during the January 6 riot are “grasping at straws” to link him to the attack, arguing they should blame Washington’s mayor and House Speaker Nancy Pelosi instead. The former president made the argument in a filing late Monday seeking dismissal of a suit accusing him ...

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• 3 February

  UK PM promises to publish full ‘partygate’ report

  

    Bloomberg Boris Johnson said he’ll publish the full civil service investigation into allegations of rule-breaking parties on Downing Street during Covid-19 lockdowns over the past two years, as his office also vowed to divulge details of any future fines potentially levied on the UK prime minister over his involvement. The senior civil servant in charge of the internal probe, ...

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