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  Tesco Plc has become the first British food retailer to warn about the impact of the cost-of-living crisis. But it’s worth remembering that inflation — even at a 30-year high of 7% in March — isn’t all bad for grocers. The company announced a rebound in underlying operating profit in the year to February 2022, up almost 60% to ...

There’s a trite expression that perfectly encapsulates how corporate leaders should now be viewing their intense dependence on Chinese production: Fool me once, shame on you. Fool me twice, shame on me. After Covid-19 first struck in China, shuttering factories there before disruptions spread around the world, executives kind of knew it was a bad idea to have their supply ...

People tend to associate environmental, social and governance investing with stock-picking, a way to sort through companies based on their ESG practices. But not every investor can be choosy about the companies they own. Big pension, endowment and sovereign wealth funds oversee tens of billions and even trillions of dollars, which means they have to own practically everything. If they ...

Sri Lanka’s President Gotabaya Rajapaksa has a fetish for fiasco. The Indian Ocean island is a basket case for several reasons. Covid-19 decimated dollar earnings from tourism; the resulting increase in social spending ballooned public debt. Then came the war in Ukraine, worsening shortages of food, fuel and foreign currency. But the lion’s share of the blame must go to ...

Bloomberg Delta Air Lines Inc spurred a rally among airline and leisure stocks as it said a strong rebound in summer travel bookings will help the carrier overcome rising fuel costs and a slow return of business travel. While the airline posted a first-quarter loss, it stood firm with previous projections that it would be profitable for the year’s remaining ...

  Bloomberg Jet fuel supplies on the US East Coast have never been lower, despite producers boosting output amid rising demand. Inventories for the region are at a historic low in government data going back to 1990. Nationally, stockpiles are at their lowest on a seasonal basis since 2004. Meanwhile, implied jet fuel demand based on a four-week average rose ...

Bloomberg Australians traveling for the Easter break are again anticipating hour-long waits as the nation’s largest airports and airlines continue to battle a staffing crisis. Sydney Airport has advised people traveling domestically to arrive more than two hours ahead of their scheduled flight — twice as long as usual — as it braces for 82,000 travellers to pass through its ...

Bloomberg Cartier plans to raise prices in the next several weeks, making it the latest luxury brand to bet its customers are willing to spend more for their high-end watches, jewellery and accessories. The “mild” price increase will partially offset the rise of the US and Chinese currencies against the euro, according to CEO Cyrille Vigneron. It will also help to ...

  Bloomberg UK supermarket chain Iceland cuts vegetable prices to 1 penny per pack in a bid to woo shoppers squeezed by the rising cost of living. The company is cutting prices in the runup to the Easter holiday, it said in an emailed statement, and the online offer quickly became popular. Customers can buy any of the more than ...

  Bloomberg E-commerce startup FirstCry.com is planning to file for an initial public offering in Mumbai as soon as this month that could raise about $700 million, according to people familiar with the matter. The online baby product marketplace is seeking a valuation of at least $6 billion, said the people, who asked not to be identified as the information ...