Bloomberg Joby Aviation Inc., the electric aircraft company working on flying taxis, has increased the size of its contract with the US Defense Department to as much as $75 million. The company plans to announce the new agreement. The California-based company makes electric-powered, vertical takeoff and landing vehicles, or eVTOLs. Its Defense Department deal, which runs through 2025, more ...

Bloomberg The black and white security camera footage is clear enough to make out a hooded figure on a tree-lined Sydney street. The person is energetically hurling — almost like a baseball pitcher — something at a house just before 2 am on July 12. Daylight reveals that the A$19 million ($13 million) harborside home of Qantas Airways Ltd. Chief ...

  Bloomberg Wendy’s Co became the latest restaurant chain to show signs of strain thanks to rising inflation, as second-quarter sales and restaurant margin fell short of Wall Street projections. Evidence of the inflation pressure on Wendy’s was twofold. First, it showed up in US same-store sales, which rose just 2.3% in the quarter ended July 3, the company said ...

  Bloomberg US consumer sentiment rises in early August to a three-month high on firmer expectations about economy and personal finances. Inflation expectations were mixed, with consumers boosting their longer-term views for prices slightly, while reducing their year-ahead outlook for costs. The University of Michigan’s preliminary sentiment index rose to 55.1 from 51.5 in July, data showed. Consumers expect prices ...

  Bloomberg Beijing wants India to reaffirm the “One China” policy as it seeks to shore up regional support after US House Speaker Nancy Pelosi’s visit to Taiwan, which triggered aggressive military drills by the Chinese military around the island. “We hope that the Indian side could openly reiterate its One China policy like many other countries,” Sun Weidong, China’s ...

Bloomberg A US congressional delegation led by Senator Ed Markey landed in Taiwan Sunday for a two-day visit, a trip that risks keeping tensions with China high after House Speaker Nancy Pelosi went earlier this month. The delegation will meet Taiwanese President Tsai Ing-wen, Minister of Foreign Affairs Joseph Wu and local lawmakers, according to a foreign ministry statement. They ...

Bloomberg Revelations that authorities seized classified material from Donald Trump are poised to shift the political ground ahead of US midterm elections and a potential 2024 run by the former president. Although the fallout from a remarkable week is just beginning, the search at Trump’s resort in Florida is certain to seep into the November races that will determine party ...

Bloomberg China’s refusal to condemn Russia’s invasion of Ukraine played a role in Estonia’s decision to quit an Eastern European initiative that aimed to enhance relations with Beijing, the Baltic nation’s top diplomat said. “It was definitely a factor that we kept in mind when making the decision. Before that, we consulted with a series of allies,” Foreign Minister Urmas ...

  Bloomberg Mastercard Inc is facing pushback from retailers over a new product that allows customers to pay off their purchases in installments. The payments giant has begun telling merchants and their banks that it will charge retailers 3% of a purchase price each time a consumer opts to use the new program, according to people familiar with the matter. ...

  Bloomberg The dollar’s best days might still be ahead of it. While the greenback has tumbled as riskier assets have rebounded and demand for havens has ebbed, there’s potential for renewed political and economic risks to rekindle its strength. Add to that a dire outlook for Europe and prospects for even more policy tightening by the Federal Reserve, and ...