June, 2023

• 4 June

  Nato chief pushes Turkey to allow Sweden to join alliance

  

  BLOOMBERG Nato Secretary General Jens Stoltenberg said that Sweden has “fulfilled its obligations” to Turkey to bolster its counter-terrorism laws, which should clear its path for membership in the alliance. After meeting with newly re-elected Turkish President Recep Tayyip Erdogan, Stoltenberg was asked if Sweden could still admitted before the alliance’s mid-July summit in Vilnius, Lithuania. “There’s still time to ...

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• 4 June

  Australian PM expects diplomatic upgrade with Vietnam soon

  

  BLOOMBERG Australian Prime Minister Anthony Albanese expects an upgrade in diplomatic relations between his country and Vietnam to a comprehensive strategic partnership soon, he said during his first visit to the Southeast Asian country. “All connections and cooperation come together in our plan to elevate our relationship to a comprehensive strategic partnership and prime minister and I discuss today that ...

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• 4 June

  US-China handshake fails to stem ‘fear of another Ukraine’

  

  BLOOMBERG A highly anticipated defense forum in Singapore kicked off with a friendly handshake between Pentagon chief Lloyd Austin and Chinese Defense Minister Li Shangfu. It ended with few other signs of optimism that the world’s biggest economies could avoid an eventual collision. Austin used his speech at the Shangri-la Dialogue to chide China over its refusal to meet unless ...

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• 4 June

  Boeing CEO sees 737 Max jetliner gaining in China

  

  BLOOMBERG Boeing Co’s top executive is growing confident the company can soon restore its commercial standing in China, while cautioning about a rocky path ahead as the two superpowers joust over trade and politics. The US manufacturer is working to restart deliveries of the 737 Max, its top source of revenue, in China after a four-year halt. Over that hiatus, ...

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• 4 June

  JetBlue to sell Spirit’s LaGuardia assets to Frontier

  

  BLOOMBERG JetBlue Airways Corp agreed to sell Spirit Airlines Inc’s operations at New York’s LaGuardia Airport to rival carrier Frontier Group Holdings Inc. The deal is contingent upon JetBlue closing a planned $3.8 billion acquisition of Spirit, according to a statement. JetBlue had earlier pledged to divest some assets to help secure federal approval of the acquisition, which has been ...

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• 4 June

  Macy’s lowers outlook as sales weaken, shares drop

  

  BLOOMBERG Macy’s Inc said earnings will be weaker than previously expected for the full-year, underscoring the uncertainty around US consumer spending through the remainder of 2023. The department-store retailer said it would take markdowns and other measures to address excess spring merchandise in order to meet current consumer demand. It lowered sales guidance to “reflect anticipated macroeconomic impacts to the ...

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• 4 June

  US fines British Airways $1.1m over pandemic flight refunds

  

  BLOOMBERG British Airways (BA) was fined $1.1 million by the US Department of Transportation after it determined that the airline had failed to offer passengers timely refunds for canceled flights to and from the US during the Covid-19 pandemic. Customers were unable to submit refund requests on BA’s website from March to November 2020, and were unable to reach customer ...

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• 4 June

  Lululemon earnings beat estimates as upscale demand holds up

  

  BLOOMBERG Lululemon Athletica Inc jumped after posting a strong start to the fiscal year and projecting a better-than-expected full-year outlook — a sign of robust demand for the company’s pricey activewear despite emerging consumer weakness. Earnings and comparable sales surpassed analysts’ average estimate in the company’s first quarter. For the full year, Lululemon now expects revenue to be as high ...

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• 4 June

  UAE leaders congratulate King of Tonga on Independence Day

  

  ABU DHABI / WAM UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan has sent a congratulatory message to His Majesty Tupou VI, King of Tonga, on the occasion of his country’s Independence Day. His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and His Highness Sheikh Mansour bin ...

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• 4 June

  Adihex unveils traditional handcrafts’ competition

  

  ABU DHABI / WAM For the second consecutive year, Abu Dhabi International Hunting & Equestrian Exhibition (Adihex) announced the start of submissions for the competition of the best sculptures of traditional handcrafts. This comes as part of the exhibition’s efforts to contribute to the sustainability of heritage professions and traditional industries, in celebration of the Year of Sustainability, and to ...

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