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  Announcing another interest-rate increase, Federal Reserve Chair Jerome Powell said that the path towards a soft landing — with lower inflation and no significant rise in unemployment — has narrowed. The question is whether there is any such path. The first estimate of second-quarter gross domestic product showed a fall of 0.9% at an annual rate. This came after ...

Bloomberg Deutsche Lufthansa AG may face further disruption after its pilots voted for strikes if they’re considered necessary to force a wage deal, a move that could unleash another wave of cancellations unless the airline’s negotiators and labour representatives can settle their differences. The VC pilots union voted overwhelmingly in favour of walkouts, meaning Lufthansa could be hit with stoppages ...

  Bloomberg Boeing Co has put forward a modified contract for about 2,500 union members at three defense locations near St Louis, days after the workers voted to reject a previous draft and begin a strike. “This new offer builds on our previous strong, highly competitive one and directly addresses the issues raised by our employees,” a Boeing spokesperson said ...

  Bloomberg Walmart Inc has a new sales pitch for consumers contending with soaring prices: Buy used goods. A new “Walmart Restored” program will make it easier to shop for refurbished items from the likes of Apple Inc, Samsung Electronics Co and Whirlpool Corp’s KitchenAid, the retail giant said in a statement. The restored merchandise will be available online and ...

Bloomberg Prada SpA reported a rebound in first-half revenue backed by strong performances in Europe and the Americas, as luxury company results continue to show resilience despite lockdowns in China and soaring inflation. The Italian fashion house said in a statement that it remains confident on medium-term targets despite macroeconomic uncertainty, citing the global health situation, the rate of recovery ...

  Bloomberg The UK’s competition watchdog started a probe into potentially misleading environmental claims made by fashion brands Asos Plc, Boohoo Group Plc and George at Asda, over greenwashing concerns. The Competition and Markets Authority (CMA) said it opened an investigation into the three fashion brands “to scrutinise their ‘green’ claims,” saying it’s concerned that clothes, footwear and accessories are ...

  Bloomberg Vinci SA has agreed to buy Fintech Advisory Inc’s 30% stake in Mexican airport operator Grupo Aeroportuario del Centro Norte SAB. The French concessions and construction company will become the leading shareholder in the operator, known as OMA, it said in a statement that confirmed an earlier Bloomberg News report. The deal is valued at about $815 million, ...

  Bloomberg The chief operating officer of Zilingo Pte has resigned from the company after a tenure during which the fashion e-commerce startup rose to prominence before plunging into a crisis. Aadi Vaidya, who joined the company in 2015 and became the COO two years later, confirmed his resignation when contacted by Bloomberg News. “I have resigned and decided to ...

Bloomberg US House Speaker Nancy Pelosi is expected to visit Taiwan on Tuesday, defying Chinese authorities who have warned of consequences if the trip takes place, the Liberty Times reported, citing people familiar with her plans. It would be a landmark move by a US official and raise the risk of a military confrontation given China views Taiwan as its ...

Bloomberg New Zealand Prime Minister Jacinda Ardern urged China to condemn Russia’s invasion of Ukraine, saying Beijing has benefited from international rules and has a duty to uphold them. “As history shows us repeatedly, when large countries disregard sovereignty and territorial integrity with a sense of impunity, it does not bode well particularly for small countries like New Zealand,” Ardern ...