January, 2021

• 24 January

  Tesla claims engineer stole secrets just days into the job

  

  Bloomberg A former Tesla Inc. software engineer was ordered to appear before a judge to face allegations that three days into his job, he started stealing confidential files and transferring them to a personal storage account. During his two-week employment, Alex Khatilov stole more than 6,000 scripts, or files of code, that automate a broad range of business functions, Tesla …

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• 24 January

  Mercedes joins Tesla, VW in compact electric-car race

  

  Bloomberg Mercedes-Benz is taking on one of the most complex industry challenges with the rollout of its battery-powered EQA: selling small electric cars without a big profit squeeze. The brand’s first fully electric compact model will hit European showrooms this spring, flanking the mid-size EQC sport-utility vehicle and the EQV van, the Daimler AG unit said. Unlike Tesla Inc.’s Model …

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• 21 January

  Oil extends gains on hopes of US stimulus

  Bloomberg Brent oil extended gains to above $56 a barrel, rising with other assets on hopes of more US economic stimulus. While crude prices have undulated with the dollar and broader risk assets in recent days, it’s also being supported by renewed strength in the market’s structure. US crude’s closest contract is near the most expensive versus those for six …

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• 21 January

  UK flight regulator faces Brexit test with Boeing Max approval

  

  Bloomberg Britain’s aviation regulator, granted new powers in the Brexit split, faces an early test of how it uses them with the looming return of Boeing Co’s 737 Max jetliner. Approval of the Max to fly again after two fatal crashes provides a chance for the Civil Aviation Authority (CAA) to demonstrate its independence. At the same time it highlights …

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• 21 January

  Singapore Air trials ‘pre-departure tests’

  

  Bloomberg Singapore Airlines Ltd has set up pre-departure coronavirus tests for passengers through its booking platforms as part of efforts to revive travel demand destroyed by the pandemic. People flying from Singapore as well as those traveling to the city-state from Jakarta and Medan in Indonesia can take tests at clinics and get results within 36 hours. If negative, they …

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• 21 January

  Burberry gains on optimism scrapping discounts to pay off

  

  Bloomberg Burberry Group Plc’s decision to eliminate discounts is showing progress as the brand aims to elevate the image of its products in the eyes of luxury consumers. Burberry shares rose as much as 5.9%, the most in two months in London trading. The brand has been phasing out markdowns, leading to an improvement in full-price sales during its fiscal …

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• 21 January

  Hong Kong, Changi lose status as Asia’s busiest airports

  

  Bloomberg Hong Kong no longer has the busiest airport for international traffic in Asia after the coronavirus pandemic wiped out travel, leaving South Korea’s Incheon International Airport in top spot, albeit with drastically fewer numbers than previous years. Hong Kong International Airport handled 8.84 million passengers in 2020, an 88% plunge from the previous year. That sent it down two …

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• 21 January

  Office Depot open to potential Staples deal

  Bloomberg The parent of Office Depot said it’s open to a potential tie-up with Staples, but only if it can avoid the regulatory pushback that derailed their last merger attempt. ODP Corp sent a letter to Sycamore Partners, the private-equity owner of Staples, rejecting Staples’ original offer and suggesting some alternative directions. ODP would be open to either a joint …

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• 21 January

  Covid-19: Manhattan retail rents plummet

  Bloomberg Manhattan’s retail pain is worsening as the pandemic drags on, with rents falling in every major shopping district. Soho was hit the hardest in the fourth quarter, with average asking rents dropping nearly 22% to $290 a square foot, according to a report by brokerage Cushman & Wakefield Plc. Rents in the area, known for its many fashion boutiques, …

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• 21 January

  Malaysia holds key rate amid lockdown to curb virus surge

  

  Bloomberg Malaysia kept its benchmark interest rate unchanged Wednesday, saving its policy ammunition as the country grapples with a surge in Covid-19 infections that could take months to subside. Bank Negara Malaysia (BNM) maintained the overnight policy rate at a record-low 1.75% at its first meeting of the year, as expected by 12 of 23 economists surveyed by Bloomberg. The rest …

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