Business

Argentina to freeze prices of 1,500 consumer goods as inflation bites

Argentina’s government announced a deal on Friday with supermarkets and suppliers of mass consumer goods to freeze or tightly regulate prices of some 1,500 products, in an attempt to contain inflation that is estimated to reach 100% this year. The center-left Peronist government is battling a plunge in popularity and street protests as spiraling prices […]

Business

JPMorgan to expand in Greece with new office, payments team

U.S. bank JPMorgan (JPM.N) said on Friday it will open a new office in Athens to support the growth of its business in the country. The office will house a new Payments Innovation Lab for which the firm will hire around a 50-strong payments research and development team locally – including product and engineering specialists. […]

Business

Investors gobble up bonds as worst of inflation may be over -BofA

Investors bought more bonds than at any time in the last four months in the week to Wednesday as signs emerged that inflation may have peaked, BofA Global Research said on Friday. Investors bought $2.6 billion of bonds in the week to Wednesday, BofA said, citing EPFR data. These figures did not capture Thursday’s consumer […]

Business

Airbus fed regulator talking points on Qatar jet row, court told

Airbus (AIR.PA) sought to exert influence over the European Union Aviation Safety Agency in a dispute with Qatar Airways over damaged A350 jets, providing the agency with a “Line To Take” when communicating with others, a UK court heard on Friday. “Airbus sought to, and appears to have succeeded, in exerting its influence over EASA,” […]

Business

SoftBank reports Q2 profit but announces more Vision Fund pain with FTX writedown

Japan’s SoftBank Group Corp (9984.T) reported its first quarterly profit in three quarters, buoyed by paring some of its stake in China’s Alibaba (9988.HK) even as its massive Vision Fund unit posted another heavy quarterly loss. The sprawling Vision Fund, which upended the world of technology with its big bets on startups, will also write […]

Business

ITA Airways to expand fleet with 39 new aircraft in 2023

ITA Airways will next year refresh its fleet with 39 new aircraft, allowing it to serve more long-distance destinations, the state-owned successor to Alitalia said on Friday. Long-distance flights are more profitable than short and medium haul ones, where ITA and Alitalia ceded market share to low-cost rivals such as Ryanair (RYA.I) and EasyJet (EZJ.L). […]

Business

Money leaves US equity funds for first time in four weeks

U.S. equity funds saw money outflows for the first time in four weeks in the week to Nov. 9 as investors braced for the midterm elections and the release of a report on U.S. consumer prices, amid concerns over borrowing costs. According to Refinitiv Lipper data, investors withdrew a net $10.52 billion out of U.S. […]