August, 2022

• 15 August

  US Senate’s new tax legislation has issues

    The Inflation Reduction Act, passed by the Senate and now headed to the House, is a notable achievement. It provides much-needed incentives for investment in clean energy and takes long-overdue steps to control drug prices. Its new revenue will more than pay for the extra spending, so that over the course of 10 years the plan will trim public ...

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• 15 August

  Norse Air bets on London-NY boom surviving slowdown

  

    Bloomberg Startup airline Norse Atlantic ASA, which begins UK-New York flights, said it will rely on strict cost control and the strength of Europe-US travel to endure headwinds from spiraling inflation and slowing economies. The discount carrier, which operates Boeing Co. 787 jets from the failed trans-Atlantic arm of Norwegian Air Shuttle ASA, is starting off slow with a ...

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• 15 August

  Outdoor Voices mulls putting itself up for sale

  

    Bloomberg Activewear brand Outdoor Voices Inc is exploring options including a potential sale. The closely held company is working with an adviser to study possibilities that also include raising new financing, said the people, who asked to not be identified discussing private information. Deliberations are at early stage and Outdoor Voices could decide against a transaction, the people said. ...

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• 15 August

  Flying taxi firm expands defense department deal to $75 million

  

    Bloomberg Joby Aviation Inc., the electric aircraft company working on flying taxis, has increased the size of its contract with the US Defense Department to as much as $75 million. The company plans to announce the new agreement. The California-based company makes electric-powered, vertical takeoff and landing vehicles, or eVTOLs. Its Defense Department deal, which runs through 2025, more ...

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• 15 August

  Late-night egg attack shows traveller fury at Qantas CEO

  

  Bloomberg The black and white security camera footage is clear enough to make out a hooded figure on a tree-lined Sydney street. The person is energetically hurling — almost like a baseball pitcher — something at a house just before 2 am on July 12. Daylight reveals that the A$19 million ($13 million) harborside home of Qantas Airways Ltd. Chief ...

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• 15 August

  Wendy’s sales, margins fall short in Q2 amid inflation

    Bloomberg Wendy’s Co became the latest restaurant chain to show signs of strain thanks to rising inflation, as second-quarter sales and restaurant margin fell short of Wall Street projections. Evidence of the inflation pressure on Wendy’s was twofold. First, it showed up in US same-store sales, which rose just 2.3% in the quarter ended July 3, the company said ...

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• 14 August

  US consumer sentiment rises in August

    Bloomberg US consumer sentiment rises in early August to a three-month high on firmer expectations about economy and personal finances. Inflation expectations were mixed, with consumers boosting their longer-term views for prices slightly, while reducing their year-ahead outlook for costs. The University of Michigan’s preliminary sentiment index rose to 55.1 from 51.5 in July, data showed. Consumers expect prices ...

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• 14 August

  Beijing asks New Delhi to reiterate ‘one China’ policy

  

    Bloomberg Beijing wants India to reaffirm the “One China” policy as it seeks to shore up regional support after US House Speaker Nancy Pelosi’s visit to Taiwan, which triggered aggressive military drills by the Chinese military around the island. “We hope that the Indian side could openly reiterate its One China policy like many other countries,” Sun Weidong, China’s ...

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• 14 August

  US lawmakers visit Taiwan after Pelosi trip draws China’s ire

  

  Bloomberg A US congressional delegation led by Senator Ed Markey landed in Taiwan Sunday for a two-day visit, a trip that risks keeping tensions with China high after House Speaker Nancy Pelosi went earlier this month. The delegation will meet Taiwanese President Tsai Ing-wen, Minister of Foreign Affairs Joseph Wu and local lawmakers, according to a foreign ministry statement. They ...

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• 14 August

  Trump search’s revelations open new political front for midterms

  

  Bloomberg Revelations that authorities seized classified material from Donald Trump are poised to shift the political ground ahead of US midterm elections and a potential 2024 run by the former president. Although the fallout from a remarkable week is just beginning, the search at Trump’s resort in Florida is certain to seep into the November races that will determine party ...

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