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  Bloomberg It’s been a year of historic selloffs for US equities. Marked by surging inflation, jumbo-sized interest rate hikes, a darkening outlook on corporate earnings and recession clouds, the S&P 500 Index has lost 21%, on pace for its biggest slump since 2008. From crypto to former pandemic winners and so-called Faang stocks, investors have been shaken out of …

  Abu Dhabi / WAM The Arab Monetary Fund (AMF) said that the Arab construction sector has recovered from the impacts of the Covid-19 pandemic, with its contribution to GDP in 2021 amounting to around $186.8 billion, up from $178.3 billion in 2020, or a 4.7% increase. The UAE and Saudi construction sectors contributed the most to their countries’ GDPs, with …

Bloomberg The world’s airlines are taking a cautious approach to China’s reopening, reluctant to immediately change up schedules and divert planes from other routes despite the internal pent-up demand for international travel. Scheduled flights into China during January, February and March are up no more than 2.9% this week compared to last week, according to aviation data provider Cirium. That’s …

  Bloomberg US aviation agencies disputed certain elements of Ethiopia’s latest report into the deadly Boeing Co 737 Max crash near Addis Ababa in 2019, including findings related to actions taken by the flight crew. In comments attached to the near-350 page document, the US groups including the National Transportation Safety Board also said there was enough evidence to suggest …

  Bloomberg Lockheed Martin Corp is protesting the US Army’s choice of Bell Textron Inc to build the service’s replacement for its mainstay Black Hawk assault helicopter by 2030, a potential $7 billion project that includes development and production if all options are awarded. Lockheed filed its challenge with the Government Accountability Office, which has 100 days to render a …

Bloomberg Jude Snair knows retail. She works in the portrait department of a JCPenney at the Newport Centre mall in New Jersey. But with or without an employee discount, the 20-year-old said she was mostly avoiding holiday shopping this year. “It’s looking more that people this year will be receiving homemade things,” Snair said as she filled out appointment sheets. …

  Bloomberg India will reintroduce mandatory Covid-19 tests for flyers coming from a number of major Asian nations, including China, amid fears of a fresh wave of infections hitting the world’s second-most populated country. RT-PCR tests will be required from travellers coming from China, Hong Kong, Japan, South Korea, Singapore and Thailand, effective from January 1, India’s Health Minister Mansukh …

  Bloomberg Southwest Airlines Co has cancelled just over three dozen flights for Friday, suggesting the beleaguered carrier may be close to resuming relatively normal operations after a meltdown stranded thousands of passengers. Friday’s tally of 39 cancelled flights has been consistent for the past day, according to flight tracker FlightAware.com. The website so far lists no Southwest flights that …

  Bloomberg The Bank of Japan (BOJ) announced two additional rounds of unscheduled bond-purchase operations, fighting back against traders betting it will further relax its yield-curve control policy. The central bank offered to buy unlimited amounts of two- and five-year notes at a fixed yield, along with 600 billion yen ($4.5 billion) of one-to-10 year bonds. That was on top …

  Bloomberg Goldman Sachs Group Inc is working on a fresh round of job cuts that will be unveiled in a matter of weeks, Chief Executive Officer David Solomon said in his traditional year-end message to staff. “We are conducting a careful review and while discussions are still ongoing, we anticipate our headcount reduction will take place in the first …