(Bloomberg) Copper steadied after its biggest advance in a month ahead of key US inflation data, while top industry executives gathered in Shanghai to discuss the metal’s outlook.Most Read from BloombergBiden, Xi to Announce China’s Crackdown on Fentanyl TradeThailand Takes $28 Billion Malacca Strait Bypass Plan to USWall Street Divided Over Just How Aggressive Fed Cutting Will BeUBS Strategists See Far Deeper Fed Rate Cuts Than What Markets Are PricingUS Inflation Report to Keep Fed Leaning
Asia-Pacific airlines face headwinds from rising fuel prices and high inflation, industry executives said on Friday, adding to a downbeat outlook for a segment where travel demand is struggling to recover fully to pre-pandemic levels. The region's air travel recovered to just 69% of 2019 levels for the year through September, trailing all other regions, impacted mainly by China's slow reopening of borders after COVID-19, according to the International Air Transport Association. "Industry recovery has been slowed by inflation, the tight job market, supply chain constraints and fuel prices, which are still higher than in 2019," Subhas Menon, Director General of the Association of Asia Pacific Airlines, told its annual gathering.
Restaurants, pubs, and food delivery and quick commerce platforms expect record business with sales rising 25-35% over a usual weekend day while television brands are struggling to install TVs before the start of India vs Pakistan World Cup match after a spike in sales in the last one week, several industry executives said.