July, 2021

• 15 July

  Joe Biden’s voting rights bluster recycles failed plan

  

  President Joe Biden says the US is facing a crisis of democracy, but he’s not acting as though he believes it. In a speech in Philadelphia, Biden said that the voting system is threatened as it has not been since the Civil War. His recommended solution is to pass legislation that has been known for months to be dead in ...

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• 15 July

  Crypto revolution will not be public

  

  A revolution is pending in finance, and the world is only beginning to realise the transformations it is likely to bring. Financial institutions will have to take a radically different approach to information technology just to stay in business. Bullish Global, a crypto firm, is planning to go public this year, with an expected valuation of $9 billion. Circle Internet ...

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• 15 July

  How to take the SPAC money and go private

  From electric carmakers to space tourism to online learning firms, special-purpose acquisition companies (SPAC) have provided an easy route to the public markets for businesses with, generously, a long path to profitability. The SPAC boom is now also smoothing the way for a legacy media company — Britain’s biggest newspaper — to leave the public markets through a wily feat ...

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• 15 July

  A carbon border tax is a necessary nuisance

  The European Union wants to prove to the world just how serious it is about fighting climate change. But can it coerce other countries to act as decisively? On Wednesday, the European Commission was expected to outline a hugely ambitious package of climate legislation with the aim of achieving the bloc’s goal of cutting greenhouse gas emissions by at least ...

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• 15 July

  Air France-KLM in talks with Boeing, Airbus for 160 jets

  

  Bloomberg Air France-KLM has begun negotiations with Boeing Co and Airbus SE on what could be the group’s biggest-ever aircraft order as it seeks to expand low-cost operations and renew part of its main Dutch fleet. The 160 single-aisle planes would be destined for the Transavia discount division and European operations at KLM, a spokesman said. The brands currently operate ...

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• 15 July

  Adani’s firm takes control of Mumbai airport from GVK

  

  Bloomberg Adani Enterprises Ltd has taken control of Mumbai’s international airport from GVK Group, in a bold bet by billionaire Gautam Adani that travel will stage a rapid recovery after being crushed by the pandemic. The deal for Mumbai International Airport Ltd, India’s second busiest, makes Adani Airport Holdings Ltd the nation’s largest airport infrastructure company, accounting for 25% of ...

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• 15 July

  Porter Airlines elbows onto Air Canada turf with jet deal

  

  Bloomberg Porter Airlines Inc plans to order as many as 80 Embraer SA commercial E195-E2 jets as it expands services to Toronto’s Pearson International Airport. The decision moves the regional carrier squarely onto larger rival Air Canada’s home turf as the airline industry prepares for a surge in travel demand as pandemic restrictions begin to ease. The introduction of jets ...

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• 15 July

  Hong Kong’s apparel giant sues US

  

  Bloomberg Hong Kong apparel giant Esquel Group said it is suing the US government for what it called the “erroneous” blacklisting of a subsidiary, saying it had been “falsely implicated” in the use of forced labor in China’s Xinjiang region. The unit, Changji Esquel Textile Co, was added to the US Commerce Department’s Entity List during former President Donald Trump’s ...

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• 15 July

  GE sets 2050 goal of zero emissions from jet engines, gas power

  

  Bloomberg General Electric Co vowed to curb the greenhouse gases produced by the use of its products—including thousands of fossil-fueled turbines and jet engines in operation around the world—in a bid to achieve net-zero emissions by 2050. The new goal, announced in GE’s annual sustainability report, signals that the industrial giant plans to go beyond an earlier pledge to make ...

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• 15 July

  Ryanair to hire 2,000 pilots as Boeing Max fleet grows

  Bloomberg Ryanair Holdings Plc is starting one of the biggest recruitment drives among European airlines, adding 2,000 pilots over the next three years as it plans to grab market share from rivals weakened by the pandemic. Europe’s biggest discount carrier needs pilots to fly its new Boeing Co 737 Max jets, which it began taking last month, Ryanair said. The ...

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