A New Housing Development With A Firm Rule: No Cars (Podcast)
Source: Bloomberg, 26:23 #press
Wilko Set to Collapse, Putting 12,000 UK Jobs at Risk
Thousands of staff at low-cost retailer Wilko Ltd. are set to be told this morning that the chain has collapsed. #press
Gas Prices Surge & Disney Hikes Subscription Prices (Podcast)
Source: Bloomberg, 16:38 #press
Business Travel Prices Seen Climbing Even Higher to New Normal
The soaring cost of business travel is projected to climb even higher this year and in 2024 as relentless post-pandemic competition for airline seats, hotel rooms and hire cars drives up prices. #press
Persimmon Cuts Hundreds of Jobs as UK Mortgage Pain Hits Demand
Persimmon Plc has slashed hundreds of jobs as stubbornly high mortgage rates grip the UK property market. #press
Homebuilders Slash Jobs as Mortgage Rates Hurt: The London Rush
While many homeowners are feeling the pain of rising interest rates, those working for building companies may be getting doubly hit. Persimmon, Britain’s biggest homebuilder, this morning said it cut hundreds of jobs in the six months through June as it navigates a housing slump and an... #press
FTX Hits Out at Profit-Hungry Crypto Traders Riled by Draft Reorganization Plan
The administrators of bankrupt crypto exchange FTX criticized traders and market makers on a key creditor panel, accusing them of seeking control of assets regardless of the impact on other stakeholders. #press
Deliveroo Shows Cost-Cutting Paying Off In Move Toward Profit
Deliveroo Plc took strides toward hitting a profit in the first half of the year, continuing a trend of delivery companies rebounding after a rough post-pandemic period. The London-based delivery company also raised its earnings guidance for the full-year to a range of £60-80 million... #press
Entain Sets Aside £585 Million Over Turkish Bribery Probe
Entain Plc has set aside £585 million ($745 million) for a possible settlement with UK authorities following an investigation into potential bribery offenses at its former Turkish business. #press
Novo Raises Outlook on Demand for Obesity Blockbusters
Novo Nordisk A/S raised its outlook for the year, fueled by demand for its obesity blockbusters. #press
More Japanese Firms Opt to Go Private as Activist Clout Grows #press
Siemens Profit Weighed Down by China Decline, Wind-Turbine Loss
Siemens AG’s earnings fell short of analyst estimates as the company saw demand for its digital industries unit drop in China while reporting a loss on its stake in the troubled wind-turbine maker Siemens Energy. #press
US Price Watch: The Bloomberg Open, Europe Edition
Good morning. US inflation data are due. Strikes at LNG plants threaten to raise natural gas prices. Disney gains postmarket on lower costs. #press
Bumper Year for Banks Draws Political Backlash as Slowdown Nears
European banks have enjoyed record levels of net interest income over the last year. That’s tempting some governments to try to tax those profits just as the cycle appears to have peaked. #press
NYC Apartment Hunters Hit Their Limits While Rents Keep Climbing
Costs in Manhattan, Brooklyn and Queens top previous records, but leasing volumes decline, signaling that renters have had enough. #press
Osaka Gas, Sumitomo Near Deal for Think Gas Stake, Sources Say
Osaka Gas Co. and Sumitomo Corp. are nearing a deal to buy about a 30% stake in Think Gas Distribution Pvt. that could value the Indian natural gas supplier at as much as $1.5 billion, according to people familiar with the matter. #press
Ecuador Presidential Candidate Villavicencio Assassinated
An Ecuador presidential candidate was assassinated. Fernando Villavicencio, an anti-graft crusader and journalist, was murdered while leaving a school in Quito. Stephan Kueffner reports on Bloomberg Television. (Source: Bloomberg) #press
American VCs Fought Back Strict Biden Rules on China Investments. But More May Be Coming
US investors who spent years fighting strict limits on their ability to invest in China scored a victory Wednesday when President Joe Biden released an order imposing only light curbs on the flow of money to the world’s second-largest economy. #press
China Sprints Ahead in Race to Modernize Global Money Flows
The digital yuan challenge to US dollar dominance in $7 trillion of daily FX flows is dashing ahead thanks to blockchain-enabled mBridge project #press
Swimming Pool Manufacturers Slash Profit Forecasts Despite Extreme Heat
Swimming pool manufacturers in the US are slashing their profit outlooks for the year even as July was officially declared the world’s hottest month on record, a contradiction that illustrates just how vast and profound the fallout from rapid interest rate hikes has been. #press
