It’s hard to accept that Tesco Plc boss Ken Murphy deserves the full £3.2 million ($3.9 million) top-up he received in addition to his £1.5 million fixed pay for its last financial year. The award points to a badly designed bonus plan which can pay jumbo rewards on very crude metrics. The one good thing about Murphy’s bonus is that ...

  America needs to build a new and greener energy infrastructure, yet there is a problem standing in the way. Or maybe flying in the way, because that obstacle is birds — and, more generally, the human bias toward the status quo when animal interests are at stake. We have to be more willing to disrupt current animal habitats when ...

With an eye on the midterm elections, Republicans have highlighted a burgeoning crisis at the southern border to attack President Joe Biden’s handling of immigration. The criticism is largely warranted. Biden’s failure to implement a coherent border policy has led to a surge in illegal crossings and caused conservatives to amplify fears of a migrant “invasion.” It’s also making it ...

  Bloomberg The Biden administration urged Abbott Laboratories to do more to ensure low-income families on federal assistance have access to baby formula, amid a nationwide shortage. Agriculture Secretary Tom Vilsack said the company should extend flexibility through the end of August for states and territories to obtain rebates to purchase alternative formulas to ensure supply for people on the ...

  Bloomberg Boeing Co has been told by US regulators that it needs to submit more documentation in order to resume deliveries of its 787 Dreamliner jet, according to people familiar with the request, signalling it may face a further delay before the Federal Aviation Administration signs off on its inspections and repairs to the plane. The FAA notified the ...

  Bloomberg A Chinese rival to Boeing Co’s 737 Max and Airbus SE’s A320neo narrowbody aircraft completed its first pre-delivery test flight, according to a CCTV report. The C919 jet developed by Commercial Aircraft Corp of China Ltd was test flown for about three hours ahead of its delivery to its first customer soon, the report said. The narrowbody plane ...

  Bloomberg Canadians travelling through Toronto Pearson International Airport are facing lengthy wait times and the situation is likely to worsen in coming weeks. The airport is being hit with a double whammy of staffing shortages and longer processing times due to public health screening measures, according to Greater Toronto Airports Authority spokesperson Tori Gass. The Covid-19 measures can double ...

  Bloomberg New Zealand’s busiest airport will start a new phase of expansion when construction of a transport hub begins next month. Auckland International Airport will invest NZ$300 million ($189 million) in the project, which will allow undercover pick-up and drop-off for cars and buses adjacent to the existing international terminal, CEO Carrie Hurihanganui said. Adjoining land has been set ...

  Bloomberg Cathay Pacific Airways Ltd expects cash burn to drop to less than $64 million a month within “the next few months” as Hong Kong gradually rolls back some of the world’s strictest, and longest Covid-19 curbs. “The recent adjustments to the government’s travel restrictions and quarantine requirements will help facilitate the gradual resumption of travel activities and the ...

Bloomberg Finnish President Sauli Niinisto phoned Russian President Vladimir Putin to say the Nordic country plans to seek Nato membership in the near term. The conversation with Putin “was direct and straight-forward and it was conducted without aggravations,” he said in a statement. The move would be a “mistake because there are no threats to Finland’s security,” Putin told his ...