August, 2022

• 29 August

  Biden’s debt plan will make US politics worse

    President Joe Biden’s student-debt plan is bad policy in too many ways to count. But is it also bad politics? Apparently he and his advisers think not, given that he announced this initiative just before the midterm elections. No disrespect to their expertise, but I wonder if they have miscalculated. Consider the substance first. The exact cost of forgiving ...

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• 29 August

  SAS warns much more needed to restore its financial health

  

  Bloomberg SAS AB, which is working its way through a Chapter 11 restructuring in the US, cautioned that much more remains to be done to convince stakeholders to invest in the ailing Scandinavian carrier. The airline also needs to overcome the impact of a pilot strike and travel disruptions that hobbled its key summer season, just as the price of ...

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• 29 August

  Boeing targets early 2023 for first Starliner mission

  

    Bloomberg Nasa aims to use Boeing Co.’s Starliner space vehicle for a crewed mission to the International Space Station as soon as February, the agency said. The flight will mark a major milestone in Starliner’s development, which has suffered from delays and testing setbacks. The planned eight-day mission would be Starliner’s first with astronauts aboard. While the exact launch ...

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• 29 August

  Lufthansa pilots step up strike threat as wage talks hit impasse

  

  Bloomberg Deutsche Lufthansa AG pilots said they have begun preparations to go on strike after failing to reach a wage accord with the airline, potentially creating more chaos after recent labour action already disrupted operations at the height of summer travel season. “At this point we remain far apart,” Matthias Baier, the spokesman for the Vereinigung Cockpit pilot labour union, ...

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• 29 August

  Nestle launches vegan KitKats but they’re going to cost more

  

    Bloomberg Vegans with a hankering for chocolate-covered wafers can at last get their hands on a KitKat. Nestle SA, the Swiss food giant, is launching KitKat V, a plant-based version of one of the world’s most popular chocolate bars, with a rollout planned across 15 European countries including the UK. Unlike the classic KitKat, the vegan version uses a ...

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• 29 August

  US suspends Chinese airline flights in Covid-19 dispute

    Bloomberg The US Department of Transportation is suspending 26 flights by Chinese airlines next month in a dispute over Beijing’s strict policies when travelers test positive for Covid-19. The retaliatory move follows the Chinese government’s decision to limit inbound flights by US carriers including United Airlines Holdings Inc. and Delta Air Lines Inc. China’s actions are “adverse to the ...

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• 29 August

  Gap pulls full-year outlook on CEO search

    Bloomberg Gap Inc.’s shares rose in late trading as investors took solace in higher-than-expected earnings and improving sales trends even as the chain withdrew its full-year projections. The apparel retailer said macroeconomic uncertainty and its ongoing search for a new executive officer sparked the decision to pull the guidance. Still, the company saw “an improvement in sales trends in ...

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• 29 August

  US sends first warships through Taiwan Strait since Pelosi visit

  

    Bloomberg US Navy warships have entered the Taiwan Strait for the first time since House Speaker Nancy Pelosi’s visit to the self-ruled island tested ties between Washington and Beijing. The Ticonderoga-class guided-missile cruisers USS Antietam and USS Chancellorsville are conducting a routine transit through a corridor of the strait beyond the territorial sea of any state, the 7th Fleet ...

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• 29 August

  Turkey says Greek missile system locked on its fighter jets

  

    Bloomberg Greek air defense missile locked onto Turkish F-16 fighter jets flying in international airspace over the Mediterranean, the Turkish Defense Ministry said in a statement. Greece’s Russian-made S300 air defense system on the island of Crete locked onto the Turkish planes on Aug. 23 as they flew over the Mediterranean, according to the statement. Earlier in the week, ...

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• 29 August

  South Korea president’s prominent rival set to lead opposition

  

    Bloomberg South Korea’s main opposition picked a high-profile rival of the president as its new leader, adding to the government’s challenges as it struggles to build support after three months in office. The progressive Democratic Party elected Lee Jae-myung on Sunday to lead the charge against conservative President Yoon Suk Yeol. Lee, a populist who pushed to introduce universal ...

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