July, 2022

• 25 July

  Tata may close Port Talbot without $1.8bn from UK

  

    Bloomberg Indian steel giant Tata Steel Ltd may close sites including Port Talbot unless it receives $1.8 billion in support from the UK government, the Financial Times reported. Natarajan Chandrasekaran, Tata Group chairman, said the firm had been in talks with the government for two years over funding for Tata’s transition to greener steel production. “We should come to ...

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• 25 July

  Conservatives shouldn’t write off ‘Trussonomics’

  

    The contest for the Tory leadership may have weeks to run, but elite opinion has already plumped firmly for Rishi Sunak, former chancellor of the exchequer and Goldman Sachs banker, as its choice. The Times of London endorsed Sunak. The Financial Times and The Economist can be expected to follow. This is a mixed blessing for a candidate who ...

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• 25 July

  Travel hell! Blame long shadow of Covid

  

  Much of the rich world is emerging from two years of pandemic more flush than it’s ever been. Deposits held by consumers at US commercial banks are roughly $3.5 trillion above where they’d have been if they continued the pre-pandemic trend, a position that inflation is only starting to eat away. For the airline industry, it’s precisely the opposite. While ...

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• 25 July

  Female CEOs become less rare in industrial sector

    The industrial sector is just a leadership shakeup away from having one of the highest rates of female chief executive officers in the S&P 500. Before you get too excited, the numbers are still small: There are 69 industrial companies on the benchmark index and as of the beginning of the year, four of them had female CEOs, according ...

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• 25 July

  Pelosi’s Taiwan date is a headache for Biden

    The timing of House Speaker Nancy Pelosi’s proposed trip to Taiwan puts President Joe Biden in a bind. Having drawn threats and condemnation from Beijing, the visit risks undermining any fruits of a planned call between Biden and China’s Xi Jinping. For Pelosi to postpone or cancel, though, would leave the impression of a US administration backing down in ...

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• 25 July

  Amazon acquires US medical provider in $3.9 billion deal

  

    Bloomberg Amazon.com Inc is done dabbling in healthcare. With its proposed $3.49 billion purchase of One Medical parent 1Life Healthcare Inc, the e-commerce giant is taking its biggest step yet into an industry that accounts for about one-fifth of the US economy. The deal will give Amazon relationships with hundreds of thousands of patients and their employers as well ...

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• 25 July

  Virgin Atlantic seeks to recruit 200 more pilots

  

    Bloomberg Virgin Atlantic Airways Ltd is seeking 200 pilots to help operate its flying schedule starting next summer, even as the European air-transport industry remains in the grip of a staffing shortage. The UK carrier plans to hire first officers across both its Airbus SE and Boeing Co fleets, according to a statement. About 100 pilots will be needed ...

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• 25 July

  Ashley’s son-in-law posts record profits as Sports Direct owner

  

    Bloomberg Shares in Frasers Group Plc leaped after the owner of Sports Direct and House of Fraser reported bumper profits and said it expects to grow further this year in the first financial results since Michael Murray took over as chief executive. Frasers forecast profit of at least £450 million ($538 million) in the financial year to April, building ...

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• 25 July

  American cancelled 1,175 flights to ease disruptions

  

    Bloomberg American Airlines Group Inc notified flight crews that it has cancelled 1,175 flights in July and August as part of efforts to build more “buffer” into its schedule and reduce disruptions that have plagued the industry this summer. The cuts come after the carrier detailed plans to trim flight capacity as much as 10% this quarter and 9.5% ...

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• 25 July

  Lululemon staff petition to unionise in Washington

  Bloomberg Lululemon Athletica Inc workers are petitioning to unionise, extending a wave of organising at previously union-free US retail firms. Employees at one of the athletic-wear company’s Washington stores filed for a unionisation election with the National Labor Relations Board. The proposed bargaining unit would cover 33 employees, according to the filing from the workers’ new labour organisation, which calls ...

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