Bloomberg Toyota Motor Corp is kicking off its first series of electric vehicles bound for the global market with a battery-powered SUV that the Japanese automaker says embodies the reliability and efficiency underpinning the Toyota brand. The “bZ4X,” which resembles Toyota’s popular Rav-4, is set for release in North America, Japan, China and Europe in mid-2022, the company said. With …

Bloomberg Avianca Holdings SA asked a judge for permission to exit bankruptcy under a plan that the airline says will eliminate about $3 billion in debt and preserve over 10,000 jobs. Latin America’s second-largest airline before the pandemic presented its restructuring plan at a hearing in New York. If approved, the 102-year-old company is eyeing an exit from bankruptcy this …

Bloomberg London’s Heathrow airport said it saw its first full quarter of passenger growth since 2019 as restrictions eased and travellers returned to flying. Traffic reached 28% of pre-pandemic levels in the third quarter, the airport said as it reported financial results. However, 3.4 billion pounds ($4.7 billion) in losses since the start of the Covid outbreak “underscore the long …

Bloomberg United Airlines Inc told a federal judge the company is spending millions on paid leave for unvaccinated pilots because their colleagues “refuse to risk their safety” by flying with them. The leave is costing United about $1.4 million every two weeks — money it’s unlikely to recover even if it wins a lawsuit challenging the airline’s vaccine mandate for …

Bloomberg The Biden administration issued new rules for travellers to the US requiring proof of full vaccination against Covid-19 in addition to a recent negative test for the virus. People from countries with low supplies of vaccines who aren’t traveling on tourist visas, and those under 18, will be exempt from the vaccine requirement, senior administration officials said. US citizens …

Bloomberg Shoemaker Allbirds and its existing shareholders are seeking to raise up to $269 million in an IPO, adding to a fast-paced season for consumer-oriented listings in the US The San Francisco-based company is marketing 15.4 million shares for $12 to $14 each, according to its filing with the US Securities and Exchange Commission. Existing backers are selling an additional …

Bloomberg Thrasio Holdings Inc, an aggregator of Amazon.com Inc products, has raised more than $1 billion in a private funding round led by technology investor Silver Lake. Silver Lake, a new investor in Thrasio, was joined by existing investors including Advent International, Upper90, Oaktree Capital Management and Peak6 in the Series D financing, according to a statement. The round valued …

Bloomberg As executives from JPMorgan Chase & Co, Citigroup Inc, Deutsche Bank AG and other lenders prepare for the most important UN climate summit in six years, their companies continue to help provide almost as much money for fossil fuels as for green projects. Scientists have made clear that time is running out to prevent a climate catastrophe. Yet this …

Bloomberg Untangling trillions of dollars-worth of loans and other financial contracts from Libor is a complex, expensive and time-consuming job. So, finance giants are turning to artificial intelligence to simplify and speed up a task mandated by regulators — and spare human lawyers some serious drudgery. Morgan Stanley figures it’s saved legal staffers 50,000 hours of work and $10 million …

Bloomberg HSBC Holdings outlined a bullish outlook for the months ahead fuelled by likely increases in interest rates and said it would soon kickoff a higher-than-expected share buyback. Adjusted pretax profit rose to about $6 billion in the third quarter, beating estimates, the London-based lender said. Revenue climbed slightly in the third quarter for the first time in almost two …