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Bloomberg China’s big three state-owned airlines saw total losses during the Covid pandemic balloon to 127.6 billion yuan ($18.5 billion) by the end of June, as the country stuck with its zero-tolerance strategy of border restrictions and snap lockdowns. Air China Ltd. said on Tuesday its net loss in the first six months of 2022 widened 186% to 19.4 billion ...

Bloomberg Taiwan’s China Airlines Ltd. ordered 16 Boeing Co. 787-9 aircraft with options for eight more and conversion rights to a higher-capacity Dreamliner jet, as it looks beyond the pandemic. The government-backed carrier announced the deal in a statement on Tuesday, weeks after US House Speaker Nancy Pelosi visited Taiwan, infuriating Beijing, which considers the island to be part of ...

Bloomberg Best Buy Co surpassed Wall Street’s profit estimate after warning a month ago that it was under pressure from waning consumer-electronics demand. Adjusted earnings fall to $1.54 a share in the fiscal second quarter, Best Buy said in a statement on Tuesday. That exceeded the $1.35 average of analyst estimates compiled by Bloomberg, which had come down sharply since ...

Bloomberg Auchan Retail plans to keep its Russian operations going even though the division is likely to be unprofitable and the country’s invasion of Ukraine continues amid global condemnation. The French grocer is experiencing a “marked slowdown in activity” in Russia that began in the second quarter, Auchan Retail Chief Financial Officer Ludovic Delcloy told analysts and journalists during a ...

  Bloomberg US consumer confidence rose by more than forecast in August to the highest since May, suggesting that Americans are growing more optimistic about the economy amid falling gas prices. The Conference Board’s index increased to 103.2 from a downwardly revised 95.3 reading in July, the first increase in four months, data on Tuesday showed. The median forecast in ...

Bloomberg The Biden administration is preparing to sell $1.1 billion in missiles and radar support to Taiwan, according to an official familiar with the matter, in what would be the largest such transfer in almost two years. The package would include as much as $650 million in continued support for a surveillance radar sold earlier, about $90 million for roughly ...

  Bloomberg Poland will more than double military spending next year, to as much as 138 billion zloty ($29 billion), in an effort to strengthen its defenses in the face of the war in neighboring Ukraine. Spending on army is expected to rise to 98 billion zloty from 58 billion zloty this year, Premier Mateusz Morawiecki said at a news ...

Bloomberg European Union countries agreed to start hammering out the details of a proposed training mission for Ukraine’s armed forces, with countries including Belgium and Slovakia offering to host the initiative. The bloc’s defense ministers agreed “on launching the work necessary to define the parameters for an EU military assistance mission for Ukraine,” Josep Borrell, the EU’s foreign policy chief, ...

  Bloomberg Pakistan’s unprecedented flooding has forced nearly half a million people to leave their homes and move into relief camps as international aid starts to trickle in to help the South Asian nation already battling an economic crisis. At least 498,000 people are currently in temporary shelters after swirling waters either engulfed or damaged over a million homes, 3,500 ...

Bloomberg China took the most aggressive step yet in its latest battle to bolster the yuan, setting its reference rate for the currency with the second-strongest bias on record. The People’s Bank of China (PBOC) fixed the yuan against the dollar at 249 pips stronger than the average estimate in a survey of market participants — which Bloomberg started compiling ...