There’s no way to dress up the terrible 12 months Alibaba Group Holding Ltd has faced since the aborted debut of its fintech division. But let’s imagine for a moment what might have happened had Ant Group Co’s dual listings gone ahead, if only to consider where the Chinese e-commerce giant’s problems truly lie. In a parallel universe, where founder ...

Bloomberg Walmart Inc fell the most in almost nine months after the retail giant signalled that it’s bracing for more pressure from global transportation snarls despite a broadly positive outlook. The company’s costs are rising more quickly than its prices, Chief Executive Officer Doug McMillon said after the company reported third-quarter earnings. Gross margin, a broad measure of profitability, fell ...

Bloomberg Boeing Co has agreed to settle outstanding claims with SpiceJet Ltd relating to the grounding of its 737 Max aircraft and their return to service. “This paves the way for the induction of efficient and younger Max aircraft into the company’s fleet and ensures the resumption of new aircraft deliveries from our order of 155 Max aircraft,” India’s second-biggest ...

Bloomberg IndiGo, one of Asia’s biggest budget carriers, is mulling charging passengers for checked-in luggage as the airline prepares for a potentially fierce price war in India’s cutthroat air travel market, which is showing signs of recovery following the worst of Covid. IndiGo, operated by InterGlobe Aviation Ltd, didn’t implement the so-called unbundling of fares in February — just before ...

Bloomberg Leaders of the House Transportation and Infrastructure Committee have called for a review of how US aviation regulators oversaw Boeing Co’s troubled 787 program. A letter signed by the top Democrat and Republican on the committee was sent to the Transportation Department’s Inspector General, the committee announced. The 787 has been plagued by production issues for a year and ...

Bloomberg Home Depot Inc surged the most since the early days of the pandemic after posting stronger-than-expected results, a sign that increased North American spending on home improvement continues to stretch through the pandemic. Comparable-store sales, a key metric for retailers, increased 6.1% in the third quarter, according to a statement. That’s well above the 1.5% average estimate of analysts ...

Bloomberg Officials in Washington and Beijing have agreed to high-level conversations between their militaries, according to a person familiar with the matter. During a 3 1/2-hour virtual summit with President Joe Biden, Chinese President Xi Jinping agreed to support such discussions between the US military and top officials from the People’s Liberation Army, including the vice chairman of the country’s ...

Bloomberg Violent demonstrations broke out in Rotterdam over the Netherlands’ virus restrictions, with the police firing warning shots and deploying a water canon to push back the crowd. The police said in a statement that two people were injured “related to the fired shots” but said details of the injuries were unclear. Tweets showed at least one car on fire ...

Bloomberg The cost of servicing UK government debt more than tripled in October from a year earlier due to surging inflation, leaving the budget deficit higher than economists forecast. Interest costs were 5.6 billion pounds ($7.6 billion) compared with 1.8 billion pounds in the same month in 2020, the Office for National Statistics (ONS) said. In the first seven months ...

Bloomberg The International Monetary Fund’s (IMF) executive board approved a $50 billion credit line for Mexico, reducing the amount it extended in previous years as it argues that the nation’s economic prospects have improved. The two-year flexible credit line, which is designed for crisis prevention, is Mexico’s ninth such consecutive agreement, and is about 20% less than the amount approved ...