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Bloomberg Credit Agricole SA’s corporate and investment bank helped the group soar above expectations in the second quarter after traders made double-digit gains during heightened volatility. The Paris-based bank said revenue at its CIB unit rises by more than a quarter to almost 2 billion euros ($2 billion), making it the busiest quarter on record. Underlying revenue from financing activities …

  Bloomberg Investors have resumed shunning global stocks in favour of bonds, according to Bank of America Corp. (BofA) strategists, who say the time is right to step back from US equities after the strong rally in July. Global equity funds had outflows of $2.6 billion in the week through August 3, according to a note from the bank, after …

Bloomberg Bitcoin rises as global stocks neared a two-month high and in advance of the US payrolls report. The largest cryptocurrency rose as much as 4% to $23,422 on Friday, staying within the range of around $19,000 to $25,000 that’s held it since mid-June. Ether was up as much as 5.4% to $1,678. “The majors continue to trade in a …

  DHAHRAN / WAM Saudi Arabian Oil Company (Aramco) signed a memorandum of understanding (MoU) with China Petroleum and Chemical Corporation (Sinopec) covering multiple areas of potential collaboration between the parties in Saudi Arabia. The MoU outlines pathways for strategic cooperation between Aramco and Sinopec and supports the long-term relationship between the two companies and their existing joint ventures in …

Bloomberg Deutsche Lufthansa AG forecast profit will keep rising in coming months amid a boom in demand, even as staffing shortages prompt airports to limit capacity. Europe’s biggest airline group said it expects a “significant increase” in earnings in the third quarter compared to the second. That’s after high ticket prices and bumper profits at the company’s cargo division more …

  Bloomberg Boeing Co avoided a crippling work stoppage at its defense manufacturing hub after St Louis-area Machinists accepted a revised contract offer, reversing an earlier vote to strike. “We have delivered an equitable contract that will secure the future for the members, their families and future generations,” Tom Boelling, president of the International Association of Machinists and Aerospace Workers …

  Bloomberg Amsterdam Schiphol Airport extended capacity curbs into the autumn as the Dutch hub continues to grapple with a staffing crunch. Royal Schiphol Group NV will cap the number of departing passengers at 67,500 per day for September and 69,500 in October, it said in a statement. The numbers are lower than the 72,500 limit set for August, reflecting …

  Bloomberg JetBlue Airways Corp reported a second-quarter loss that missed Wall Street’s expectations as high fuel prices kept operating expenses elevated ahead of the carrier’s planned purchase of deep discounter Spirit Airlines Inc. The carrier’s shares fell after it said total costs soared 89% in the quarter to $2.56 billion, including $910 million spent on fuel. JetBlue is starting …

  Bloomberg As volcanic activity in Iceland started, the country’s tourism industry kicked into high gear, grasping an opportunity to revive the business after the pandemic had banished most visitors from the Atlantic island for more than two years. With reports emerging of sightings of lava, the shares of Icelandic airlines Icelandair hf and Fly Play, which flies under the …

  Bloomberg Just Eat Takeaway.com has launched its own service offering rapid delivery of grocery and convenience items in Berlin, pulling the firm deeper into an already crowded market. Just Eat’s so-called ‘dark store’ will target a delivery time of around 20 minutes and offer consumers more than 1,000 items from fresh produce to baby products under its local Lieferando …