August, 2021

• 12 August

  Brookfield wins Inter Pipeline’s backing for $6.8 billion deal

  

  Bloomberg Canada’s Inter Pipeline Ltd told shareholders to accept a $6.8 billion hostile takeover offer from Brookfield Infrastructure Partners LP, days after walking away from a friendly deal with Pembina Pipeline Corp. The move pushes the monthslong battle for Canada’s fourth-largest midstream company closer to a resolution. Brookfield sweetened its bid to win over Inter Pipeline shareholders, while prominent advisory ...

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• 12 August

  JetBlue begins flights from New York to London at $202

  

  Bloomberg Just nine days after the UK granted vaccinated Americans quarantine-free entry, JetBlue Airways Corp is making its first foray into transatlantic service, starting flights on the world’s most lucrative air route—from New York’s John F Kennedy International Airport to London Heathrow—on Wednesday. It’s a long-awaited move for fans of the carrier, which has made its name offering affordable, friendly ...

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• 12 August

  Boeing Max takes to China’s skies amid test to end ban

  

  Bloomberg The Boeing Co 737 Max jet that’s in China for a flight test for regulators took to the skies above Shanghai on Wednesday, potentially a step toward lifting the plane’s more than two-year grounding in the country. The jet took off at 9:24 am local time, flew southeast along the coast and then headed out to sea, according to ...

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• 12 August

  Amazon to pay up to $1,000 for injuries by sellers’ goods

  Bloomberg Amazon.com Inc is offering to compensate customers for injuries caused by goods from its third-party sellers, a guarantee that follows numerous lawsuits seeking to hold the world’s largest online retailer responsible for dangerous products purchased from its digital shelves. In a blog post on Amazon’s corporate site, the company said it would pay shoppers itself for injury or property ...

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• 12 August

  Toys ‘R’ Us says famed brand in complaint alleging rip-off

  

  Bloomberg Shoppers at the Garden State Plaza mall in Paramus, New Jersey, might feel a touch of déjà vu on entering a store called Toys & Beyond. The signs have a bubble font with different-coloured letters. A cash register display says “Let’s Play.” On the stairwell of an indoor treehouse are sentiments such as “I don’t want to grow up.” ...

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• 12 August

  Cathay Pacific’s dire run eases as first-half losses narrow

  

  Bloomberg Cathay Pacific Airways Ltd’s first-half loss narrowed from a year earlier as the Hong Kong-based carrier slashed costs and cargo operations helped offset feeble passenger traffic. The airline reported a net loss of HK$7.6 billion ($977 million) in the six months through June, compared with a HK$9.9 billion deficit in the same half of 2020. Sales dropped 43% to ...

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• 12 August

  Super Coffee nabs over $500m valuation

  Bloomberg Kitu Life Inc, the startup behind Super Coffee that counts Jennifer Lopez and Alex Rodriguez among its investors, has more than doubled its valuation to over $500 million with its latest round of funding. Henry Ellenbogen’s Durable Capital Partners led the $106 million round. Other participants include LivWell Ventures, the family office of Nutrabolt Chief Executive Officer Doss Cunningham, ...

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• 12 August

  North Korea threatens ‘crisis’ in last-ditch bid to sway Seoul

  

  Bloomberg North Korea threated a “security crisis” over US-led military drills, in what appeared to be a campaign to pressure South Korea’s pro-engagement president for greater support before he leaves office next year. Training exercises scheduled to start on Monday risk sinking a two-week-old deal between Seoul and Pyongyang to improve ties, said Kim Yong Chol, a North Korean ruling ...

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• 12 August

  Russia files new charges against Putin opponent Navalny

  

  Bloomberg Russia filed new charges against jailed opposition leader Alexey Navalny using a law that has mostly been applied to cults, as the Kremlin moves to crush dissent ahead of parliamentary elections next month. Navalny and his allies are accused of creating “a non-profit organisation that infringes on the persons and rights of citizens,” Russia’s Investigative Committee said in a ...

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• 12 August

  China leaves room to release Canadian after spy conviction

  

  Bloomberg A Chinese court jailed a Canadian tour organiser for 11 years for spying, while leaving room for his eventual deportation — a ruling that appeared timed to pressure Ottawa in extradition proceedings against a top Huawei Technologies Co. executive. Michael Spavor, who organised tours to North Korea, was sentenced after being found guilty of stealing and illegally providing state ...

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