July, 2021

• 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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• 15 July

  Nine Chinese workers among 12 killed in Pakistan bus explosion

  

  Bloomberg A blast in a bus carrying workers in Pakistan’s northern Kohistan region killed 12 people including nine Chinese citizens, as concerns mount an advance by the Taliban in Afghanistan may disturb peace in across the region. Pakistan authorities said on Wednesday the blast was caused by a gas leak, however China condemned the explosion and called on Pakistan to ...

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• 15 July

  Ethiopia’s Tigray conflict deepens as Abiy’s ceasefire fails

  

  Bloomberg The northern Ethiopia conflict may be headed for a dangerous turn after Prime Minister Abiy Ahmed’s unilateral ceasefire failed and he backed calls to resist Tigray forces advancing to retake territory. The Tigray People’s Liberation Front, which federal troops had initially overrun after fighting that started in November, recaptured the state capital, Mekelle, and have taken back control of ...

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• 15 July

  Malaysia’s cabinet ministers pledge support to PM Muhyiddin

  Bloomberg Malaysian cabinet ministers on Wednesday unanimously pledged support for Muhyiddin Yassin to continue as the nation’s prime minister. The backing comes a week after the United Malays National Organisation, the largest party in the ruling coalition, retracted support for Muhyiddin and demanded he step down for failing to control the worsening Covid-19 situation, calling for a new leader to ...

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• 15 July

  Germany’s banks start ditching offices as remote work soars

  

  Bloomberg Banks in Germany are rapidly cutting back on office space as a rising number of staff work from home, putting them at the vanguard of a global shift that could permanently change the way bankers work. Deutsche Bank AG is vacating several floors in a building housing about 1,000 employees, HSBC Germany is ditching six separate offices in Dusseldorf ...

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• 14 July

  NAB leads race for Citi’s consumer unit

  

  Bloomberg National Australia Bank Ltd (NAB) has emerged as the front-runner for Citigroup Inc’s Australian retail assets. The country’s third-largest bank is in advanced discussions over the purchase of the unit, valued at more than $1 billion, the people said. National Australia confirmed its interest in a statement. “NAB regularly assesses opportunities to acquire businesses that support its growth strategy ...

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• 14 July

  Kenya central bank seeks ‘teeth’ to regulate digital lenders

  

  Bloomberg The central bank of Kenya needs “teeth” to rein in more than 100 lenders, who charge interest rates as high as an annualised 500% for loans disbursed over digital channels, according to Governor Patrick Njoroge. The regulator wants the mobile-phone based and online lenders to disclose more information, including the source of funds and details on ownership for the ...

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• 14 July

  Futures, stocks mixed as traders weigh policy path

  

  Bloomberg American stock-index futures were mixed on Wednesday as investors evaluated a surprise US inflation jump that stirred the debate on how long the Federal Reserve will maintain ultra-loose policy. Contracts on the S&P 500 fluctuated, while those on the Nasdaq 100 gained after US tech giant Apple Inc. was said to have prepared suppliers for a boost in next-generation ...

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