August, 2021

• 29 August

  S Korea doesn’t seem worried about Delta

  The Bank of Korea (BOK) has become the first advanced Asian economy to raise interest rates after the pandemic. This isn’t a one-and-done. When central banks start cutting or raising borrowing costs, they rarely pause after one move, because a single step gets little macroeconomic traction. Policy makers also face a public-relations debacle if they abandon new strategies quickly. So ...

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• 29 August

  Brazil’s court can stop Bolsonaro’s land grab

  “The North American cavalry was competent,” Jair Bolsonaro, then a lawmaker, told the Brazilian legislature in 1998. “Having wiped out its Indians in the past, nowadays the country doesn’t have this problem.” Land, he added, should be allocated “in proportion to the population.” Nothing suggests his retrograde views on Brazil’s original inhabitants have changed since he became president nearly three ...

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• 29 August

  Delta ‘fees’ for unvaccinated may lead more staff to follow

  

  Bloomberg Employers weighing whether to follow Delta Air Lines’ lead and impose financial penalties on their unvaccinated employees could charge an unlimited amount depending on the type of wellness plan they choose. The airline said that it would institute a $200 monthly surcharge on health premiums for employees who haven’t received a Covid-19 vaccine by November 1. Rather than imposing ...

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• 29 August

  Southwest trims flying schedule after outcry

  

  Bloomberg Southwest Airlines Co will reduce its flight schedule for the last four months of the year after employees assailed the discount carrier for understaffing operations during a summer marred by delays and cancellations. Average daily flights will fall by 27 to 3,304 from September 7 through October 6, Southwest said in an emailed statement. The carrier will cull an ...

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• 29 August

  GoAir gets initial share sale nod from India’s market regulator

  

  Bloomberg Go Airlines India has got the green light from the nation’s market regulator to raise 36 billion rupees ($485 million) through an initial public offering, according to a person familiar with the matter. GoAir’s share sale was put on hold in June by the Securities and Exchange Board of India (Sebi). The airline now expects to file a preliminary ...

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• 29 August

  Interjet eyes comeback after $1.25b Mexico restructuring

  

  Bloomberg A business plan that aims to put Mexico’s troubled Interjet back in the skies in 2022 is ready, according to the firm the airline hired to advise on restructuring $1.25 billion in debt. Argoss Partners submitted the plan to Interjet management at the end of July. It calls for debt forgiveness of over 90%, partial payment to workers, preliminary ...

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• 29 August

  Ulta raises sales forecast as Q2 results top expectations

  Bloomberg Ulta Beauty Inc raised its sales outlook after second-quarter results topped expectations, reinforcing that cosmetics demand is on the rise amid easing pandemic restrictions. The retail chain now sees sales of as much as $8.3 billion this year, Ulta said, up from a previous forecast of no more than $7.8 billion. The company also said the key gauge of ...

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• 29 August

  Gap raises earnings guidance for 2021

  Bloomberg Gap Inc topped Wall Street’s expectations with its second-quarter results and increased guidance for the full year, highlighting the recovery for apparel retailers from the early-pandemic slowdown. The San Francisco-based company now sees adjusted earnings per share of $2.10 and $2.25, with net sales up about 30% compared with last year, it said. The apparel maker in May had ...

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• 29 August

  US strikes back at group tied to Kabul bombing

  

  Bloomberg US forces carried out a strike in Afghanistan against the terrorist organisation believed responsible for the devastating bombing that killed at least 88 people near the Kabul airport a day earlier. “US military forces conducted an over-the-horizon counterterrorism operation on Saturday against an IS-K planner,” said Captain Bill Urban, a spokesman for US Central Command. He added that the ...

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• 28 August

  Biden criticises China for not aiding report on origin of coronavirus

  

  Bloomberg President Joe Biden rebuked China for stonewalling a US investigation into the origins of the coronavirus, as his administration reported it was unable to reach firm conclusions because of Beijing’s unwillingness to cooperate. China denied that it had hindered the probe. “The world deserves answers, and I will not rest until we get them,” Biden said in a statement ...

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