After years of stumbles and underperformance, Twitter co-founder Jack Dorsey is finally stepping aside as chief executive. The long-awaited move creates an opportunity for the social media platform to regain its footing, but there is much to be done. The company’s board announced that Twitter veteran Parag Agrawal, who has served as chief technology officer since 2017, will succeed Dorsey ...

More than a decade after Lloyd Blankfein, then-boss of Goldman Sachs Group Inc, claimed banks do “god’s work,” the finance industry still struggles to convince the public it’s a force for good. A new chapter in this debate has erupted in Europe where hedge funds and national governments can’t agree on what constitutes “good” financial speculation. Funds who bet that ...

Since the summer, it’s not been a fun time to be a central banker: What with not-so-transitory inflation playing havoc with official targets and leading to some pretty terrible attempts at forward guidance. Let’s look at Bank of England (BOE). But the Old Lady of Threadneedle Street has not been the only major institution struggling to chart a clear course ...

Bloomberg EasyJet Plc said the omicron variant of Covid-19 is impacting short-term demand but hasn’t yet derailed a recovery in air travel. The UK discount carrier has reined in capacity plans for the current quarter as some customers with reservations delay flying and others put off booking, it said in a statement. Demand for city-to-city flights has taken the biggest ...

Bloomberg A US federal labour official has ordered a new union election at an Amazon.com Inc warehouse in Alabama. After losing the first election in April, the Retail, Wholesale and Department Store Union appealed the outcome to the National Labor Relations Board (NLRB), alleging that Amazon had intimidated workers and pressured them to cast votes in a mailbox the company ...

Bloomberg Lululemon Athletica Inc sued Peloton Interactive Inc for patent infringement five days after the fitness bike company filed a preemptive suit against the clothing maker, as a dispute over a busted co-branding deal heats up in the booming home fitness space. Peloton “imitated several of Lululemon’s innovative designs and sold knockoffs of Lululemon’s products, claiming them as its own,” ...

Bloomberg Lackluster deals and scarce inventory kept Cyber Monday sales flat compared with a year ago, the latest indication that shoppers made purchases earlier in the season due to concerns about global shipping logjams. US shoppers spent $7.1 billion on Cyber Monday in New York, according to Adobe Inc. It’s too early to determine if Cyber Monday breaks last year’s ...

Bloomberg Singapore started contact tracing for airport staff who may have come into contact with two travelers infected with the omicron variant of Covid-19 who transited through Changi Airport on their way to Australia from South Africa, the health ministry said. Two individuals, described as being from southern Africa, flew from Johannesburg to Singapore on a Singapore Airlines flight, and ...

Bloomberg Retail investors were quick to plow cash into the biggest US exchange-traded funds and industries like airlines and travel stocks when the market was hammered. The day-trading crowd snapped up roughly $2 billion in assets like the SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1 as the buy-the-dip crowd stepped in where Wall Street didn’t, according ...

Bloomberg President Vladimir Putin warned the West not to cross the Kremlin’s security “red line” as the US and the UK said any Russian incursion into Ukraine would trigger serious diplomatic and economic responses. Expansion of western military infrastructure into Ukraine would leave Moscow exposed to the risk of attack in as little as five minutes “if supersonic weapons are ...