November, 2021

• 27 November

  Xiaomi growth withers after chip shortages wallop its phone sales

  

  Bloomberg Xiaomi Corp. recorded its slowest pace of quarterly sales growth since early 2020 after supply chain mayhem choked off the flow of vital components and rivals like Apple Inc eroded its market share. Shares in China’s largest smartphone maker slid more than 5% in Hong Kong to their lowest since September 2020, reflecting lingering concern about a global chip ...

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• 27 November

  Yandex developed its own lidar for self-driving cars

  

  Bloomberg The self-driving company founded by Russian technology giant Yandex NV said its new generation of vehicles will rely on sensors developed in-house to better see the road in the country’s often harsh driving conditions. A software-defined lidar system capable of seeing 500 meters (547 yards) away and operating in frigid weather will be the main sensor on new cars ...

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• 27 November

  Dell quarterly revenue tops estimates

  Bloomberg Dell Technologies Inc posted revenue that beat Wall Street estimates, powered by corporate and consumer spending on personal computers, which both reached company records in the fiscal third quarter. Sales in the period ended October 29 rise 21% to $28.4 billion, the Round Rock, Texas-based company said in a statement. That compares with analysts’ average estimate of $26.8 billion, ...

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• 25 November

  Energy crisis drives carbon emissions as Europe burns coal

  

  Bloomberg Europe is growing increasingly reliant on coal to keep the lights on as the weather turns cold, sending the cost of polluting to a record. Carbon prices exceeded 70 euros for the first time ever as utilities turn to the dirtiest of fossil fuels. Power plants in the UK are burning the most coal since the beginning of the ...

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• 25 November

  Travel rebound threatened by European lockdowns: Ryanair

  

  Bloomberg Ryanair Holdings Plc Chief Executive Officer Michael O’Leary said steps aimed at containing spiraling coronavirus infection rates in Europe are putting the region’s travel rebound at risk. Measures including a return to lockdown conditions in Austria mean airlines face a “fraught” period through Christmas as they wait to see whether a resurgence in demand will be strangled off, O’Leary ...

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• 25 November

  India’s SpiceJet considers capital raising, cargo split

  

  Bloomberg SpiceJet Ltd is reducing liabilities and considering raising capital after the damage caused by Covid-19, and has agreed compensation from Boeing Co for the grounding of 737 Max jets, Chairman Ajay Singh said. The budget carrier, which suffered as Covid halted air travel in India, aims to cut liabilities by as much as $300 million over six months and ...

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• 25 November

  Air Canada to settle US flight refund in $4.5m settlement

  

  Bloomberg Air Canada has agreed with US aviation regulators to pay $4.5 million to settle charges that it didn’t properly give refunds to US travellers when it cancelled or altered flights during the Covid-19 pandemic. The settlement between the airline and US Department of Transportation — which must be approved by an administration law judge — would be the largest ...

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• 25 November

  Nordstrom plunges in Q3 over poor inventory issues

  Bloomberg Nordstrom Inc said poor inventory planning at its off-price Rack stores dragged on revenue growth in the third quarter, a problem company executives said they were working to address heading into the holiday season. Sales at the Rack division were 8% below where they were before the pandemic. Revenue at the company overall was down 1% in the same ...

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• 25 November

  Retailers sound alarm on theft as US states warn of rise

  

  Bloomberg Retailers say shoplifting is getting more brazen in the US: A California Nordstrom store was recently hit by a flash mob of more than 80 people who made off with designer goods, while more than a dozen people pilfered from a Louis Vuitton location in a suburb of Chicago. The impact of shoplifting reached Wall Street, with Best Buy ...

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• 25 November

  Gap cuts outlook over supply-chain woes

  Bloomberg Gap Inc lowered its projection for 2021 sales and profit as supply-chain bottlenecks led to lost sales and higher expenses. The shares fell in trading. Gap now sees revenue growing about 20% for the full year — down from its previous projection of a 30% gain. Analysts had projected revenue to be 28% higher this year, according to estimates ...

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