July, 2021

• 25 July

  Nike, Adidas output snarled as Covid shuts Asian factories

  

  Bloomberg Some of the world’s biggest footwear and garment companies are seeing production pinched as factories in Southeast Asia struggle to keep the lights on amid one of the world’s deadliest Covid-19 resurgences. A number of firms that churn out products for global giants like Nike Inc and Adidas AG have reported plant suspensions in Vietnam over the past few ...

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• 25 July

  Kimberly-Clark slides as inflation hurts demand

  Bloomberg Kimberly-Clark Corp’s shares fell after the maker of household supplies missed Wall Street’s expectations for second-quarter earnings and trimmed its annual forecast, saying inflationary pressures and slowing toilet paper demand are hurting results. Profit this year will be $6.65 to $6.90 a share, the company said in a statement, down from a prior expectation of as much as $7.55. ...

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• 25 July

  Bridgepoint mulls Burger King UK’s sale

  Bloomberg Bridgepoint Group plans to sell the UK operations of Burger King next year in a bet on an accelerated recovery of Britain’s pandemic-hit restaurant industry, Sky reported. The newly listed private equity group has started preliminary talks with investment banks about a sale of the fast-food chain, the news agency said, citing unidentified people with knowledge of the matter. ...

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• 25 July

  Putin touts Russia’s hypersonic nuclear weapons at naval parade

  

  Bloomberg President Vladimir Putin used a Navy Day parade to deliver his latest reminder of Russia’s military muscle, touting the nation’s hypersonic nuclear weapons at a ceremony in his hometown of St Petersburg. “Today the Russian navy has everything it needs to defend our homeland, our national interests,” Putin said in a speech in front of a monument to the ...

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• 25 July

  Beijing evacuates over 100,000 as typhoon hits eastern China

  

  Bloomberg Typhoon In-Fa made landfall in Eastern China on Sunday, causing the evacuation of more than 100,000 people, the cancellation of flights in and out of Shanghai and the halting of business operations, according to state media. In-Fa landed in Zhoushan, Zhejiang province, at 12.30 pm, local time, with a maximum wind force of 38 meters (125 feet) per second, ...

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• 25 July

  Malaysian PM to justify shutting parliament to fight Covid

  

  Bloomberg Malaysia’s parliament will sit for the first time this year on Monday, providing lawmakers an opportunity to grill Prime Minister Muhyiddin Yassin over his government’s handling of the pandemic and the economy. The five-day sitting will see Malaysia’s emergency declaration and bills on fake news and penalties for breaching Covid protocols finally laid before the house for legislators to ...

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• 25 July

  London becomes jobs hot spot as finance and consulting hire

  

  Bloomberg London’s jobs market has sprung back to life, becoming a hot spot for the first time since the pandemic closed vast sections of the economy, two separate surveys showed. The Recruitment & Employment Confederation (REC) said London had six of the top 10 areas in the UK for new job postings in the week ending July 18. Consulting and ...

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• 25 July

  Canada retail sales jumped in June with virus cases receding

  

  Bloomberg Canadian retailers started to recover from the third major Covid-19 shutdown, which stunted shopping earlier this year. Receipts fall 2.1% in May, when many provinces had restrictions on businesses to combat the virus, Statistics Canada reported in Ottawa. But retailers bounced back in June with sales rising 4.4% as rules eased, a preliminary estimate from the agency shows. Even ...

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• 25 July

  Spain is banking on Apple to invest in AI, video production

  

  Bloomberg Prime Minister Pedro Sanchez said he’s expecting Apple Inc to ramp up investments in his country after meeting with Chief Executive Officer (CEO) Tim Cook at company’s headquarters. Wrapping up a three-day tour of the US on the West Coast, Sanchez said that Apple will be particularly interested in developing artificial intelligence, television production in Spain. “We expect to have ...

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• 25 July

  GM sues Ford over hands-free tech name

  Bloomberg General Motors Co is suing its competitor Ford Motor Co for violating a trademarked driver-assist technology that’s used for hands-free features, according to a lawsuit. The automaker is taking action to protect Cruise and Super-Cruise brands after Ford in April renamed its Co-Pilot360 automated driving system as Blue Cruise, GM said in court documents. Talks to resolve issue had ...

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