August, 2021

• 23 August

  Global airlines owed billions as governments withhold cash

  

  Bloomberg Airlines are owed almost $1 billion across 20 countries as governments seek to hang on to hard currency, depriving the industry of vital cash at a time when travel has been devastated by the coronavirus crisis. Figures published by the International Air Transport Association (IATA) show that Venezuela is withholding a further $4 billion that’s been outstanding for years ...

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• 23 August

  Coach owner stockpiling handbags for holidays

  Bloomberg The owner of the Coach and Kate Spade brands is stockpiling its handbags and other accessories ahead of the holiday season to ensure it can meet consumer demand amid ongoing delays in the delivery of products from suppliers. “We find ourselves in a dynamic where the consumer demand backdrop is strong, while supply chain remains challenging,” Scott Roe, the ...

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• 23 August

  Macy’s jumps on sales outlook, renews investor payouts

  

  Bloomberg Macy’s Inc surged after the department-store operator reinstated its dividend and raised its sales guidance, a sign that consumers are returning to the apparel market after a lengthy pandemic slump. Same-store sales, a key retail metric, rose 61% for the company’s owned stores in the second quarter, Macy’s said in a statement. That’s above the 43% gain expected by ...

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• 23 August

  Canadian retail surges on shopping spree

  Bloomberg Retail sales in Canada rebounded as brick-and-mortar shops were allowed to reopen after months of Covid-19 shutdowns, though early data shows that momentum was short-lived. The value of receipts rose 4.2% in June, Statistics Canada reported in Ottawa. However, that bounce-back was quickly reversed in July with a preliminary estimate showing a 1.7% decline on the month. That brings ...

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• 22 August

  Biden aide says US sees ‘acute’ IS threat at Kabul Airport

  

  Bloomberg The US is placing “paramount priority” on defending crowds at Kabul airport seeking to leave Afghanistan against a potential IS terrorist attack, National Security Adviser Jake Sullivan said. “The threat is real, it is acute, it is persistent and it is something that we are focused on with every tool in our arsenal,” Sullivan said on CNN’s “State of ...

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• 22 August

  Pentagon drafts US airlines to help with Afghan evacuees

  

  Bloomberg The Defense Department told US airlines to provide 18 planes to aid in the Afghanistan evacuation effort, saying the extra capacity will help military aircraft focus on operations in and out of Kabul. Activation of the Civil Reserve Air Fleet program involves four planes from United Airlines, three each from American Airlines, Atlas Air, Delta Air Lines and Omni ...

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• 22 August

  Kurz says he won’t take refugees fleeing Afghanistan

  Bloomberg Austria’s government said it won’t accept asylum seekers fleeing the Taliban takeover in Afghanistan and will instead focus on assisting them locally. “I am clearly against voluntarily accepting more people,” Chancellor Sebastian Kurz said, according to excerpts of an interview published by broadcaster Puls 24. “That won’t happen on my watch.” The ruling People’s Party has taken a hard ...

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• 22 August

  Merkel vows sanctions against Russia if pipeline used as weapon

  

  Bloomberg Chancellor Angela Merkel reinforced her vow to push for additional sanctions against Russia if the Kremlin uses the Nord Stream 2 gas pipeline linking Russia to Germany as a “weapon.” The comments came two days after President Vladimir Putin raised the stakes in mounting tension over energy with the EU. Putin imposed conditions on any extension of a gas-transit ...

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• 22 August

  Malaysia’s new PM calls for cooperation, end to power grabs

  

  Bloomberg Malaysian Prime Minister Ismail Sabri Yaakob struck a tone of reconciliation in his inaugural public address, seeking to bring stability to a nation that has seen three premiers in 18 months. Ismail extended an invitation to opposition leaders to be part of the National Recovery Council that oversees the country’s plan to exit the pandemic, and the special Covid-19 ...

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• 22 August

  Sweden’s PM to quit politics after seven-year term

  

  Bloomberg Sweden’s Prime Minister Stefan Lofven shocked the political establishment on Sunday by announcing he will end his seven-year term in November, as well as stepping down as the leader of the Social Democrats. “In next year’s election campaign, the party will be led by someone other than me,” Lofven, 64, said in a speech outside Stockholm. The former union ...

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