May, 2022

• 26 May

  Boeing turns to staff, data to boost safety after Max crisis

  

    Bloomberg Boeing Co is taking steps to bolster safety and address criticism that it lacked a robust, in-house oversight program in the wake of two fatal 737 Max accidents. Even so, there’s still much to be done some three years after the twin tragedies, which killed 346 people and sparked a global grounding of the Max aircraft, plunging Boeing ...

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• 26 May

  Wendy’s top shareholder Trian explores new deal

  

    Bloomberg Wendy’s Co surged in early trading after shareholder Trian Fund Management, the investment vehicle of billionaire Nelson Peltz, said it will explore a transaction that could give it control of the fast-food chain. Trian owns about 11.8% of Wendy’s stock, according to data compiled by Bloomberg. A transaction “could include an acquisition, business combination (such as a merger, ...

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• 26 May

  Air France-KLM to sell $2.4bn new shares to repay state aid

  

    Bloomberg Air France-KLM plans to sell about 2.26 billion euros ($2.4 billion) of new shares to shore up its balance sheet and repay a chunk of the state aid that helped the carrier survive the Covid-19 crisis. The proceeds of the rights issue will be used to reimburse about 1.7 billion euros of subordinate bonds issued in April last ...

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• 26 May

  Walmart plans $3.99 drone deliveries in six states by year-end

  

    Bloomberg Walmart Inc and partner DroneUp LLC plan to expand their drone-delivery hubs to 34 locations in six states by year-end, taking a big step towards scaling up aerial dropoffs for US shoppers even though big regulatory hurdles remain. Deliveries will cost $3.99 and orders can weigh up to 10 pounds, Walmart said in a statement. The expanded network ...

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• 26 May

  Lufthansa bids with MSC for Alitalia successor ITA

    Bloomberg Deutsche Lufthansa AG confirmed that it made a joint bid with container giant MSC Mediterranean Shipping Company SA to buy Italia Trasporto Aereo, known as ITA, the successor to failed carrier Alitalia. That sets up a possible two-horse race for ITA, with Lufthansa and MSC likely to face off against a group backed by the German carrier’s European ...

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• 26 May

  Ex-Just Eat CEO mulls raising VC fund

    Bloomberg David Buttress, the former chief executive officer of UK food delivery firm Just Eat, is weighing plans to create his own venture capital fund after a making nearly a dozen investments on his own. Buttress joined venture capital firm 83North as a venture partner after stepping down from Just Eat in 2017, and has also made 10 so-called ...

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• 25 May

  N Korea fires suspected ICBM as Biden wraps up Asia tour

  

  Bloomberg North Korea appears to have fired an intercontinental ballistic missile (ICBM) in a defiant show of force just hours after US President Joe Biden wrapped up a visit to the region, testing his efforts to strengthen defense ties with South Korea and Japan. South Korea said a suspected ICBM reached an altitude of about 540 kilometres (335 miles) and ...

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• 25 May

  China follows Biden’s vow by announcing Taiwan military drills

  

  Bloomberg China followed President Joe Biden’s vow to defend Taiwan militarily by announcing it held military exercises close to the democratically ruled island, underscoring its anger over the US stance. The air and sea “combat readiness patrol” was “a solemn warning about the recent collusion between the US and Taiwan,” Colonel Shi Yi said in a statement from the Eastern ...

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• 25 May

  Moldova frets of being forgotten as Ukraine pushes for EU entry

  

  Bloomberg With all eyes on Ukraine as it strives to mount the first rung of the process to join the European Union, neighbour Moldova worries that its own push to join the bloc may be forgotten. Sandwiched between Ukraine and Romania on the EU’s eastern frontier, Europe’s poorest nation has struggled since independence in 1991. It has suffered from rampant ...

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• 25 May

  China’s Xi holds rare meeting with UN rights chief

  

  Bloomberg Chinese President Xi Jinping held an unusual meeting with a top human rights chief, highlighting the importance his administration places on United Nations official Michelle Bachelet’s landmark visit to China. Beijing is willing to discuss rights issues and cooperate with all parties on the basis of mutual respect, Xi said in a video call with Bachelet on Wednesday, state ...

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