August, 2021

• 4 August

  How a car tycoon enriches his empire

  

  Chinese billionaire Li Shufu has made a habit of shuffling around the pieces of his sprawling empire to find the best value. Yet none of that grand strategising has addressed his main problem: a growing pile of debt. Every few months, Zhejiang Geely Holding Group Co, the parent company of Hong Kong-listed Geely Automobile Holdings Ltd and Sweden’s Volvo Car ...

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• 4 August

  Would you get a Covid shot for a lower ‘bill’?

  With the highly transmissible delta variant spreading rapidly in the US and Covid-19 vaccine uptake in some areas still disappointingly low, it makes sense to push every lever available to get people protected. One underused tool is is the cost of health coverage. Health insurance is a significant expense for many Americans and could create powerful financial motivation for holdouts ...

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• 4 August

  American politics are not (yet) broken!

  As President Joe Biden moves towards another legislative victory — namely, the $550 billion infrastructure bill — it’s worth asking what its success says about American politics. Mostly it’s good news, whether or not you agree with the policies of the Biden administration. The most enduring truth is that the median voter theorem, as social scientists refer to it, continues ...

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• 4 August

  American to buy JetSmart stake, expand South America flying

  

  Bloomberg American Airlines Group Inc agreed to buy a stake in JetSmart Airlines SpA, a privately held, low-cost carrier based in Chile, and establish a partnership that the larger carrier hinted could open the door to additional deals with other discounters operated by Indigo Partners LLC. American will spend an undisclosed amount for an unspecified minority stake in JetSmart, one ...

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• 4 August

  Amazon’s union election should be re-run: Official

  

  Bloomberg A federal official has recommended overturning the results of a union election at an Amazon.com Inc warehouse in Alabama, giving the retail union an opportunity to reverse its defeat, according to people familiar with the issue. After losing the election in April, the Retail, Wholesale and Department Store Union appealed the outcome to the National Labor Relations Board, setting ...

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• 4 August

  Whole Foods tacks on delivery fee in US cities

  

  Bloomberg Amazon.com Inc is tacking on a delivery fee for Prime members who shop at Whole Foods Market in several US cities, an indication that the economics of grocery delivery continue to pose a challenge for even the world’s largest online retailer. Shoppers were informed of a $9.95 service fee for deliveries beginning on August 30 in the Boston and ...

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• 4 August

  Hong Kong retail sales weaken sharply as tourism struggles

  Bloomberg Hong Kong’s retailers saw a sharp downturn in June as the city’s borders remain closed to tourists, with businesses looking ahead to the distribution of consumption vouchers for a boost in coming months. Retail sales by value grew 5.8% in June from a year ago to HK$28.1 billion ($3.6 billion), a government report showed, well short of the 14.1% ...

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• 4 August

  Alibaba sales miss in sign spending has yet to pay off

  Bloomberg Alibaba Group Holding reported revenue that missed estimates, suggesting plans to hike spending in pursuit of growth have yet to gain traction. Revenue for the three months ended June climbed from a year earlier to 205.7 billion yuan ($31.8 billion), compared with the 209.4 billion yuan average of analyst estimates. Net income was 45.1 billion yuan, rebounding from a ...

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• 4 August

  DHL to add electric jets to fleet in pursuit of zero emissions

  

  Bloomberg The race towards zero-emission logistics chains is expanding from the road to the skies. DHL Express, the air cargo subsidiary of Deutsche Post AG, has ordered 12 all-electric aircraft to complement its fleet of battery-powered delivery vans and bikes, a move that will reduce emissions from air services. The Eviation Aircraft Ltd-built freighters, known as Alice models, will be ...

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• 4 August

  Singapore’s Lee urges China, US to stem deteriorating ties

  

  Bloomberg Singapore Prime Minister Lee Hsien Loong again warned the US and China to deescalate tensions, saying both powers presumed incorrectly they would win in any conflict. “The reality is, neither side can put the other one down,” Lee said on Tuesday, speaking by video link to the Aspen Security Forum. “I think that is a possible misunderstanding on both ...

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