June, 2020

• 6 June

  Green Tasmania could help wean Australian cities off coal

  

  Bloomberg Tasmania wants to turn itself into a battery. The island state off the Australian mainland’s southern tip is pursuing what its leaders say is the world’s most ambitious renewable energy target, boosting hydro and wind generation to twice its own needs by 2040 and exporting the rest via a planned undersea cable. The strategy could play a key role …

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• 6 June

  US limits China’s airlines to two weekly flights over spat

  

  Bloomberg The Trump Administration, in the latest move ratcheting up tensions in US-China trade, said that the nation had continued to violate airlines’ rights by restricting flights and ordered new limits on its carriers. Responding to a move by China to limit US passenger airlines to one flight per week each, the US Department of Transportation said it would only …

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• 6 June

  Avianca may get aid over ‘state measures’

  

  Bloomberg An emergency measure allowing Colombia’s government to take equity stakes in private companies opens the door for a bailout of the nation’s largest airline, Avianca Holdings SA, which declared bankruptcy last month amid an unprecedented downturn in travel. The new regulation, which permits the government to take minority positions in companies that have been impacted by the sharp economic …

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• 6 June

  Delta to pause flights to 11 cities in reminder of US weakness

  

  Bloomberg Delta Air Lines Inc will drop service to 11 midsize US cities next month amid weak demand because of the Covid-19 pandemic, a reminder of the industry’s fragility after a record stock rally. The service suspensions affecting cities from Aspen, Colorado, to Bangor, Maine, will help lower costs, Delta said in a statement. The affected airports are among 75 …

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• 6 June

  Boeing heads for $35b weekly gain in airline rally’s wake

  

  Bloomberg Boeing Co is heading for its best week in more than two months as surprise job gains and airline bookings signal that demand for air travel — and jetliners — is poised to recover from a historic plunge. The US planemaker’s status among investors has recently flipped to darling from market pariah, although analysts caution that Boeing still faces …

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• 6 June

  Victoria’s Secret UK arm appoints administrators

  Bloomberg Victoria’s Secret UK arm is appointing an administrator to help overhaul its business, amid plunging sales across the retail sector. The unit of Ohio-based L Brands Inc, which operates 25 stores in the country, will appoint Deloitte to renegotiate leases or sell the stores, Stuart Burgdoerfer, the unit’s interim chief executive officer, said in an emailed statement. Victoria’s Secret …

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• 6 June

  Russia’s Yandex to double self-driving fleet with Hyundai

  

  Bloomberg Yandex NV will test a driverless car it developed with Hyundai Motor Co. in Detroit as the Russian technology giant makes plans to approximately double its fleet of self-driving vehicles. Yandex plans to buy 100 of the cars, which are souped-up versions of Hyundai’s Sonata, the company said in a statement. The test-drives, which had been planned around the …

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• 6 June

  Smartphone shipments may drop 12% in 2020

  

  Bloomberg Worldwide smartphone shipments are expected to fall by 11.9% this year — their biggest annual drop ever — indicating things are going to get worse for the industry before they get better. In its latest market forecast, research firm IDC anticipates shipments of 1.2 billion in 2020, down from just under 1.4 billion last year. The annual forecast follows …

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• 6 June

  Headphones that went from in-flight freebie to global icon

  

  Bloomberg Sennheiser’s HD 25 headphone was not originally designed for DJs. Though today it’s considered an essential piece of equipment behind the decks—worn by the likes of Calvin Harris, Luciano, Richie Hawtin, Martin Solveig, and scores of other boldface names—they were first designed in 1988 for broadcast booths and recording engineers. In 1989, the German audio company started supplying the …

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• 6 June

  UK car industry joins European jobs wipeout to battle slump

  

  Bloomberg The UK car industry joined in a round of job cuts that has swept Europe, with auto companies looking to downsize to cope with lower sales following the Covid-19 pandemic. Aston Martin Lagonda Global Holdings Plc said it plans to eliminate almost 20% of the workforce, or as many as 500 positions, to cope with a slump in demand …

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