Microsoft Corp was never going to rival Apple Inc in retail, or gain much from it. The coronavirus pandemic provided a good opportunity to face that fact and throw in the towel. The software giant announced it will permanently close all of its Microsoft Store brick-and-mortar locations. The company’s stores, which were primarily based inside malls, were temporarily shuttered in ...

The Covid-19 pandemic is intensifying the most destructive trends in global trade. Support for free trade has given way to talk of decoupling and de-globalisation. Tensions between the US and China are rising, as are calls for protectionism and re-shoring of far-flung supply chains. It is no longer seen as desirable, or even possible, to integrate countries that possess different ...

Bloomberg Boeing Co and federal regulators are preparing to hold a critical set of test flights on the 737 Max early next week, and laying plans for other milestones toward ending the jetliner’s 15-month grounding including convening a panel of pilots to go over a proposed training course. Aviation industry officials briefed on the plans, which still haven’t been finalised, ...

Bloomberg British Airways proposed a pay deal for its flight attendants that would guarantee 80% of current basic salaries while limiting the need for mass job cuts amid the Covid-19 pandemic. The carrier would also reduce expenses by targeting the variable allowance component of cabin-crew pay, according to a letter to staff seen by Bloomberg News. The company said the ...

Bloomberg Kanye West is going to make Gap cool again. At least, that’s what investors hope. The struggling apparel company’s shares soared the most in at least 40 years after it revealed a partnership agreement with the head-turning rapper and designer. West, whose sneaker line with Adidas AG routinely sells out, will work with Gap Inc on a new line ...

Bloomberg Bain Capital LP agreed to buy collapsed airline Virgin Australia Holdings Ltd in one of the biggest single bets on the industry since it was shattered by the coronavirus pandemic. Administrator Deloitte named Bain as the airline’s new owner, hours after rival buyout firm Cyrus Capital Partners LP withdrew its bid. The value of the deal wasn’t disclosed, though ...

Bloomberg Nike Inc, which touted its ability to navigate the pandemic earlier this year, is finding it’s not so easy. The world’s biggest athletic brand posted a surprise loss and disappointing sales in the fiscal fourth quarter, a sign that shuttered retail stores across the US and much of the world took an even bigger toll than expected. Revenue declined ...

Bloomberg Mr Price Group Ltd is closing its Nigerian business after volatility in the West African market and as the retailer favors a stronger focus on its home market of South Africa. The specialist in mid-range clothing, sports goods and homeware has already shuttered four of its five Nigerian stores and expects to close the last one in the coming ...

Bloomberg The US State Department imposed visa bans on Chinese Communist Party officials accused of infringing the freedom of Hong Kong citizens, in what a senior official described as the opening salvo in a campaign to force Beijing to back off from new restrictions on the city. Secretary of State Michael Pompeo said in a statement that he was barring ...

Bloomberg President Donald Trump signed an executive order that he says is intended to protect monuments and statues from “anarchists and left-wing extremists.” “My administration will not allow violent mobs incited by a radical fringe to become the arbiters of the aspects of our history that can be celebrated in public spaces,” Trump said in the order, which was released ...