August, 2021

• 22 August

  GM recalls all Bolt EVs on fire risk; sees $1bn cost

  Bloomberg General Motors Co (GM) is recalling more than 73,000 of its Bolt electric vehicles at a cost of $1 billion due to the risk of their batteries catching fire. The recall is an expansion of a similar action the company took last month when it discovered a defect in battery that powers the EV. The move covers all Bolt EVs …

  Read More »
• 21 August

  Nissan debuts seventh generation of iconic Z sports car

  

  Bloomberg Nissan Motor Co debuted the latest edition of its Z series coupe in New York, marking the seventh generation of a sports-car line that was introduced in 1969 as the Fairlady Z in Japan and the Datsun 240Z in the US. The new Z is the first refresh of the two-door platform in over a decade and will be …

  Read More »
• 18 August

  WTO says record global trade in goods might be nearing a peak

  

  Bloomberg Global trade in goods might be close to plateauing — albeit at a record level — amid an outlook clouded by regional imbalances and coronavirus outbreaks that slow economic activity, the World Trade Organisation (WTO) said. The Geneva-based trade body’s goods trade barometer rises to 110.4 in March, the highest in records going back to 2016, according to a …

  Read More »
• 18 August

  Oil climbs with US stockpiles in focus

  

  Bloomberg Oil snapped a run of declines as a US industry report pointed to a drop in domestic crude stockpiles. West Texas Intermediate rises 0.5% after a four-day losing run that was the longest since March. The American Petroleum Institute reported that crude inventories fell 1.16 million barrels last week, including a draw at the key storage hub in Cushing, …

  Read More »
• 18 August

  Walmart’s slowing e-comm, margin weigh as sales beat

  

  Bloomberg Walmart Inc’s pandemic-driven gains in e-commerce slowed last quarter and profit margin fell, raising questions about the retailer’s ability to maintain momentum even after it topped Wall Street’s sales expectations. The company’s US online sales rose 6% in the second quarter, the company said in a statement. That was down from earlier in the pandemic, when soaring e-commerce demand …

  Read More »
• 18 August

  Mask mandate for US travellers extended

  

  Bloomberg US transportation and health agencies are extending the mask mandate for air passengers and other travellers until mid-January as the Delta variant of Covid-19 continues to surge. The sometimes controversial requirement for people to cover their faces on public forms of transportation had been set to expire on September 13. The Transportation Security Administration (TSA) said in an emailed …

  Read More »
• 18 August

  London’s housing market shows hit from home working in July

  

  Bloomberg London private housing rents fell in July compared with a year earlier as the ability to work from home meant that being close to city center offices was no longer a priority for workers. The 0.1% decline set the UK capital apart from other regions, where rental prices climbed by almost 2% on average, Office for National Statistics (ONS) …

  Read More »
• 18 August

  US futures choppy amid caution over Covid, Fed

  

  Bloomberg US equity-index futures fluctuated between gains and losses, while the dollar halted a two-day rally, as investors assessed the outlook for economic recovery and awaited the latest Federal Reserve minutes to gauge the direction of monetary policy. Contracts on the S&P 500 Index slipped 0.1% after the underlying gauge falls by the most in four weeks. The dollar halted …

  Read More »
• 18 August

  HDFC Bank shares jump after India eases ban on credit cards

  

  Bloomberg Shares in HDFC Bank Ltd jumped after the Reserve Bank of India (RBI) said it would allow the lender to issue new credit cards, partially removing a months-long ban. The lender will roll out the preparations and strategies it has put in place to “come back with a bang” in credit cards, it said in a statement. It will …

  Read More »
• 17 August

  Oil heads for longest run of losses since March on coronavirus threat

  

  Bloomberg Oil fell for a fourth day, heading for the longest run of losses since March, on the threat to demand from the delta coronavirus variant. West Texas Intermediate futures declined 0.5% after losing almost 3% over the previous three sessions. US gasoline consumption fell for a third week, according to a survey by Descartes Labs, while data from China …

  Read More »