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Walmart’s foray into finance makes a friend of an old foe

Bloomberg One of Walmart Inc.’s longtime foes conceded the retailer’s latest foray into banking could end well for consumers. “There are still a lot of people who want a physical location to go to for their banking services, and Walmart could provide that with all its stores,” said Sheila Bair, who oversaw the Federal Deposit Insurance Corp. when the retail ...

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United plane’s broken fan blade last inspected in ’16

Bloomberg The fan blade that broke on a United Airlines plane over suburban Denver last month failed well before it was required to receive its next routine inspection, investigators said. The blade that fractured, triggering the February 20 failure, had 2,979 cycles — each of which represents a flight or any time the engine was started — since its last ...

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Boeing reeled from ‘terrible’ press after first Max crash

Bloomberg Boeing Co. leaders were stunned by a barrage of negative articles after a 737 Max plunged into the Java Sea in October 2018, killing all aboard, according to internal communications. The messages, under court order, show that executives and board directors worried about media coverage and indications that pilots on the Lion Air flight were caught unaware by an ...

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Delta restores pay for its managers

Bloomberg Delta Air Lines Inc. is making payments to management employees to help offset reductions imposed a year ago when the burgeoning coronavirus pandemic decimated travel demand and prompted workers to take unpaid leave or retire early to help slash spending. The carrier is making the payouts after accepting billions of dollars in federal aid dedicated to preventing broad involuntary ...

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Myanmar protesters begin strike, vow to defeat army

Bloomberg Myanmar protesters marched Monday in some of the country’s biggest cities, part of another nationwide strike to pressure the military to relinquish power after a February 1 coup. Thousands of demonstrators hit the streets in Yangon and Mandalay, Myanmar’s biggest cities, as well as other cities to keep up momentum for the pro-democracy movement. In the southeastern city of ...

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Top lawmakers say Cuomo should resign, governor says ‘no way’

Bloomberg New York’s highest-ranking state lawmakers called on Governor Andrew Cuomo to resign even as he remained defiant that he wouldn’t step down. “I am not going to resign because of allegations,” Cuomo said on a call with reporters. “There is no way I resign.” Cuomo, a third-term Democrat, faces claims of impropriety from five women, after disclosures from two ...

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China to fight US sanctions with legal ‘toolkit’

Bloomberg Beijing pledged to speed up legislation aimed at countering US sanctions, as it seeks to narrow Washington’s advantages in disputes after the Trump administration levied waves of penalties against China. Measures were announced by National People’s Congress Standing Committee Chairman Li Zhanshu as part of his annual report to the Chinese legislature on Monday. “We will upgrade our legal ...

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Libya rival parliaments hold talks on new government

Bloomberg Libya’s two rival parliaments began meeting for the first time to discuss a proposed unity government that would lead the war-torn Opec member until elections in December. Monday’s joint session involving lawmakers from the Tobruk-based parliament, which backed eastern military commander Khalifa Haftar, and the rival assembly headquartered in Tripoli, the capital, is taking place in the central coastal ...

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Republican reopenings sharpen political divide over virus

Bloomberg Decisions by two Republican governors to remove all coronavirus restrictions in their states have reignited the political debate on the pandemic response, elevating it as a campaign issue this year and in 2022. Republicans Greg Abbott of Texas and Tate Reeves of Mississippi announced last week they’re eliminating state mask mandates and allowing businesses to reopen at full capacity, ...

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India looks set to weather global bond rout with record reserves

Bloomberg India’s record foreign-exchange reserves and a rare current-account surplus look set to cushion the nation’s currency and bonds from a global surge in interest rates. While the central bank does have its hands full managing the government’s large debt issuance, strategists see the country in a much stronger financial position now than it was during previous bouts of turmoil ...

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