August, 2021

• 24 August

  Best Buy boosts its full-year outlook as sales top estimates

  Bloomberg Best Buy Co rose after it raised its full-year sales outlook on continued strong demand for its gadgets and services. The key metric of US same-store sales rose 21% in the second quarter, the retailer reported in a statement. That’s above the 18.4% average estimate from analysts compiled by Bloomberg. It now sees companywide same-store sales growing in a ...

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• 24 August

  Walmart debuts business delivery service in its push beyond retail

  

  Bloomberg Walmart Inc will start delivering goods for other companies, a bet that its logistics prowess will let the world’s largest retailer broaden its business. The new service, dubbed Walmart GoLocal, will offer merchants ranging from local bakeries to national auto-supply stores deliveries across the US at what the company calls “competitive pricing.” The retailer already has some contracts with ...

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• 24 August

  US rebuffs G-7 call for more time to finish Afghan airlift

  

  Bloomberg President Joe Biden has decided to adhere to the deadline he set for evacuations from the Kabul airport, according to a senior administration official, leaving less than a week to fly out thousands of people from Taliban-controlled Afghanistan. The decision means that he rebuffed calls from the US’s closest allies to extend the Aug. 31 deadline during a virtual ...

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• 24 August

  Philippines’ Duterte agrees to run for vice president in 2022

  

  Bloomberg Philippine President Rodrigo Duterte has accepted the ruling party’s vice-presidential endorsement, solidifying his bid to stay in a top government post once his term ends next year. Duterte agreed to run due to “popular calls” within the PDP-Laban for him to seek the second-highest post, the party said in a statement on Tuesday. The ruling party, which will convene ...

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• 24 August

  Zambia’s new leader vows to stabilise shaky finances

  Bloomberg Zambia’s new President Hakainde Hichilema pledged to rein in public debt and the budget deficit, while restoring the nation’s credibility following a default on its foreign loans. “Our focus over the next five years will be on restoring macroeconomic stability,” Hichilema said in his inauguration address in Lusaka, the capital, on Tuesday. “We will grow our economy so we ...

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• 24 August

  S African politician Dlamini charged, stoking tensions

  Bloomberg Bathabile Dlamini, a former South African social development minister and head of the ruling party’s powerful womens’ league, will be prosecuted for perjury in a move by prosecutors that will stoke political tension. The charges relate to her testimony at a Constitutional Court inquiry in 2018 into a crisis over welfare-grant payments where a judge ruled that she’d lied ...

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• 24 August

  Germany’s SDP  overtakes Merkel’s bloc in election

  

  Bloomberg Germany’s Social Democrats (SDP) overtook Chancellor Angela Merkel’s bloc for the first time in 15 years, prompting a top conservative ally to go on the attack. Markus Soeder, head of the Bavarian sister party of her alliance, offered a taste of what the German conservatives will campaign on in the coming weeks. Speaking on Tuesday in a Bloomberg webinar, ...

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• 24 August

  Harris blasts China, says US won’t push Asia to pick sides

  

  Bloomberg Vice President Kamala Harris warned that China poses a threat to countries in Asia, while reassuring nations in the region the US won’t force countries to choose between the world’s biggest economies. In a speech in Singapore on Tuesday, Harris spoke about the US vision for a region built on rules, human rights, freedom of the seas and unimpeded ...

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• 24 August

  PBOC vows to stabilise money growth, boost credit support

  

  Bloomberg China’s central bank chief vowed to stabilise the supply of credit and boost the amount of money supporting smaller businesses and the real economy, after both credit and economic growth slowed in July. The People’s Bank of China (PBOC) will keep monetary policy stable with a good cross-cyclical design and will support high-quality economic expansion with “appropriate money growth,” ...

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• 24 August

  Citi sued for profiting from European credit fund’s demise as Covid struck

  

  Bloomberg Citigroup Inc is facing a lawsuit for pulling support from a European credit fund as the Covid-19 pandemic roiled the markets, then giving its own traders a potential profit at the fund’s expense. The New York-based bank was sued by Ver Capital Partners in London for forcing the fund to default on a 224 million-euro ($263 million) loan in ...

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