July, 2020

• 11 July

  Kenya Airways ordered to halt plan to slash jobs

  

  Bloomberg The High Court of Kenya ordered the national carrier to temporarily freeze job cuts pending a full hearing of the matter. The case will be heard on July 16, Judge Hellen Wasilwa said in an judgment. The Kenya Aviation Workers’ Union sought the action against Kenya Airways after the airline’s chief executive officer, Allan Kilavuka, earlier this month told ...

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• 11 July

  US retailer gets bankruptcy loan with zero interest rate

  

  Bloomberg Competition to buy retailer Brooks Brothers Group Inc will allow the company to fund its reorganisation in bankruptcy with an $80 million loan that carries a zero interest rate and no closing fees. ABG-BB LLC, a partnership between Authentic Brands Group LLC and mall landlord Simon Property Group Inc, will provide the loan. The generous terms reflect competition between ...

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• 11 July

  American warns Boeing it may trim Max order over financing

  

  Bloomberg American Airlines Group Inc has warned Boeing Co it will cancel orders for about a dozen 737 Max jets if negotiations fail to secure additional help to finance the planes, said people familiar with the matter. The discussions involve aircraft for which financing deals have expired because of delivery delays and a handful of other jets for which financial ...

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• 11 July

  Gap plans to compensate suppliers

  Bloomberg Gap Inc will work collaboratively with its vendors to compensate them in full for finished goods and goods in production that were canceled or subject to pack and hold. The owner of the Old Navy and Banana Republic apparel chains has also extended payment terms on certain orders and is providing low-cost financing to suppliers, according to a statement ...

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• 11 July

  Travelodge hotels under threat from rivals

  

  Bloomberg The landlords of as many as 40 Travelodge hotels are planning to replace them with a serviced apartment operator following a bitter row with the budget hotel chain over rent cuts, according to the Daily Telegraph. Various unnamed landlords are in discussions with Room2, which wants to launch a low-cost version of its “hometel” concept, which combines serviced apartments ...

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• 11 July

  The cars of our self-driving future will be electric

  

  Bloomberg Cars aren’t going away any time soon. So the ultimate green move will be combining two emerging technologies: autonomous driving and fully electric cars. Autonomy brings efficiency in driving and battery use, while electric cars drastically cut emissions, fuel costs and maintenance. Even so, a rift has developed within the automobile industry about the best way to move forward. ...

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• 11 July

  Tesla scrutinised by German court over Autopilot claims

  

  Bloomberg Tesla Inc.’s promotion of its driver-assistance system Autopilot is under scrutiny in Germany, where a court is scheduled to rule next week on whether the carmaker is misleading consumers. The maker of the Model 3 sedan says that Tesla vehicles have full potential for autonomous driving. The company also has promoted its cars as having the ability to perform ...

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• 11 July

  Amazon’s plan for a fleet of 3,236 satellites wins backing of FCC chair

  

  Bloomberg Amazon.com’s plan for a fleet of 3,236 communications satellites won the backing of the US Federal Communications Commission (FCC) chairman, who said he had asked fellow commissioners to approve the venture. “Satellite constellations like this aim to provide high-speed broadband service to consumers in the US and around the world,” Ajit Pai said in a tweet. Pai added that ...

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• 11 July

  Google wins Renault contract in first major French cloud deal

  

  Bloomberg Google has won a multi-year deal to store Renault SA’s manufacturing data, marking the US tech company’s first major industrial cloud deal in France. The Alphabet Inc. unit will gather data from Renault factories, robots and supply chains, the companies said. Google called the contract the largest of its kind globally, though both businesses declined to comment on how ...

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• 11 July

  Daimler may need to cut 15,000 jobs

  Bloomberg Daimler AG plans to sell its factory in Hambach, France, as the maker of Mercedes-Benz cars pursues deeper-than-expected restructuring to overcome the fallout of coronavirus pandemic. The move to unload the home of the Smart two-seater will result in a negative one-time effect of roughly $562 million in the second quarter, Daimler said. It doesn’t expect an impact on ...

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