March, 2021

• 13 March

  Luxury malls are the new car showrooms in China

  

  Bloomberg China’s electric-car makers are paying top-dollar rents to open showrooms in luxury malls, as they seek to gain an edge in the hyper-competitive market. More than half the malls in Shanghai have at least one electric-vehicle showroom and more are planned, according to real-estate service provider Jones Lang LaSalle Inc. They are now part of the “standard configuration” of …

  Read More »
• 13 March

  Apple faces French complaint over IPhone advertising tool

  

  Bloomberg Apple Inc.’s advertising tool used to monetise some of its own apps and services is the target of a new complaint in France. France Digitale, a lobby group representing startups and venture capital firms, filed the complaint, saying that Apple’s own advertising system doesn’t seek a user’s consent for receiving targeted ads. The complaint focuses on an Apple feature …

  Read More »
• 13 March

  Microsoft warns of new threat against networks

  

  Bloomberg Microsoft Corp. has detected and blocked a “new family of ransomware” that was being used against servers that still hadn’t patched vulnerabilities after last week’s major security breach. The updates are a temporary measure to defend against attacks, which were already occurring in many places, the company said. The company discovered suspected Chinese state-sponsored hackers were exploiting previously unknown …

  Read More »
• 13 March

  Instagram to integrate reels into Facebook

  

  Bloomberg Instagram will give a small number of creators in India the option to share their short video clips on Facebook Inc.’s main social network as part of a new test. Facebook is running a trial in India in which users can share Instagram Reels, short video clips with augmented-reality effects, in the news feed of the main blue app. …

  Read More »
• 13 March

  Ola plans to make electric cars every two seconds

  

  Bloomberg Bhavish Aggarwal surveys the empty 500-acre expanse encircled by neon-painted homes, tiny shrines and mango groves. The high-profile Ola founder hopes to erect the world’s largest electric scooter plant on this vacant plot on Bangalore’s outskirts within the next 12 weeks, cranking out about 2 million a year — a landmark for one of India’s largest startups. A two-and-a-half …

  Read More »
• 11 March

  American Airlines borrowing $7.5bn in loyalty-backed debt

  

  Bloomberg American Airlines group Inc. is kicking off a $7.5 billion sale of bonds and leveraged loans backstopped by its frequent-flyer program, capitalising on low borrowing costs to repay US government loans that have helped it navigate the pandemic. The carrier is marketing two $2.5 billion series of notes maturing in 2026 and 2029, and a term loan credit facility …

  Read More »
• 11 March

  Amazon spends $131m for stake in cargo airline ATSG

  

  Bloomberg Amazon.com Inc. scooped up a minority stake in a cargo airline that operates a portion of its fast-growing air-cargo division, the latest sign of the retailer’s long-term ambitions to expand its air-freight operations. Amazon spent $131 million to acquire about 13.5 million shares of Air Transport Services Group Inc., the air cargo operator said in a securities filing, exercising …

  Read More »
• 11 March

  Walmart’s South Africa retailer scaling back to fuel recovery

  

  Bloomberg Massmart Holdings Ltd. is selling three more units as the Walmart Inc.-owned South African retailer steps up efforts to turn around the company. Barclays Plc has been appointed to dispose of food-seller Cambridge, cash-and-carry chain Rhino and Massfresh, which is made up of The Fruitspot and a meat-processing facility, Massmart said in a statement. It has not yet had …

  Read More »
• 11 March

  Lego unveils record sales

  Bloomberg Lego booked record sales and profit last year, as consumers of all ages turned to its iconic toy bricks during the pandemic. Net income rise 19% to 9.9 billion kroner, the company, which is based in western Denmark, said on Wednesday. Sales gained 13% to 43.7 billion kroner, the most Lego has ever brought in during a single year. …

  Read More »
• 11 March

  Airlines, travel groups urge US to develop virus passport

  

  Bloomberg US airlines, joined by travel groups and labour, urged the Biden administration to take the lead in developing standards for temporary Covid-19 health credentials that would help reopen global travel by documenting vaccinations and test results. The US “must be a leader” in efforts already underway in other regions to implement such travel passports, groups including Airlines for America …

  Read More »