July, 2021

• 12 July

  How will we know when the Fed is ready to taper?

  

  The US labour market holds the key to the inflation outlook and the timing of the withdrawal of monetary policy accommodation. After all, it is pressure on resources that ultimately leads to persistent inflation. If workers are in chronic short supply, wage inflation climbs and that usually feeds through into prices. In contrast, supply disruptions typically get resolved with time. ...

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• 12 July

  China is first crack in Covid recovery

  

  China is the first noticeable crack in the Covid-19 recovery. The only major economy to show any growth at all last year, the country is now taking steps to ease monetary policy — just when the Federal Reserve is beginning to lay the groundwork to taper asset purchases. A significant slowing of its expansion might give other commercial powers pause ...

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• 12 July

  Japan is thinking about a ‘four-day workweek’

  Japan, the country that gave us the word “karoshi” for “death from overwork,” is thinking about introducing an optional four-day workweek. The idea has also come up in Iceland, New Zealand, Spain and other places. It’s in fact so obvious, some wise people in the past would be gobsmacked to learn that we’re only just starting to talk about it ...

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• 12 July

  Trump’s Twitter lawsuit raises one serious issue

  Former President Donald Trump’s lawsuits against Twitter, Google and Facebook for kicking him off their platforms are sure losers, legally speaking. The First Amendment protects people against state action, and tech companies aren’t state actors. Yet Trump’s main argument to the contrary — that congressional Democrats coerced the platforms into cutting him off by threatening to repeal Section 230 of ...

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• 12 July

  Brooks Brothers owner eyes $13 trillion market with IPO

  

  Bloomberg Jamie Salter always had big ambitions. Though he started Authentic Brands Group Inc with lesser-known consumer names, he spent much of the last decade vacuuming up ailing but widely recognised brands like Barneys New York, Sports Illustrated and Brooks Brothers. Now, he’ll do so in the public eye. Authentic filed paperwork for an initial public offering this week, and ...

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• 12 July

  Covid-19: Two senior Cathay executives quit

  

  Bloomberg Two senior executives at Cathay Pacific Airways Ltd have resigned, as the Hong Kong-based carrier continues to battle its way through the coronavirus pandemic with severely reduced flight capacity. Cathay Director Customer Simon Large, who was responsible for managing brand, corporate and marketing communications, as well as loyalty programs, will leave on July 31, according to a company memo ...

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• 12 July

  Hungary makes Budapest Airport bid as PM Orban seeks control

  

  Bloomberg The Hungarian government has made a non-binding offer to buy Budapest Airport Zrt, according to people familiar with the matter, as PM Viktor Orban seeks to gain control of what had been one of the fastest growing hubs in the region before the coronavirus pandemic. The offer, which was received by the owners of the airport this week, was ...

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• 12 July

  Warby Parker bets future on adding hundreds of stores

  

  Bloomberg As Warby Parker heads towards becoming a public company, the co-founders of the eyewear brand valued at $3 billion are pitching a growth strategy centered on stores. It’s quite a turn for a company that last decade ignited a boom in digital brands that convinced investors to bet billions largely on their ability to grow quickly online. But in ...

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• 12 July

  Private jets set to escape higher EU energy taxes

  Bloomberg Airlines will soon be charged more for polluting in Europe, but private jets and Amazon.com packages are set to escape the tougher rules. That’s part of a plan by the European Union set to be unveiled next week. While commercial flights are set to be subject to a new tax system that discourages the use fossil fuels, private jets ...

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• 12 July

  CD&R pushes for $8.7b Morrison race

  Bloomberg Clayton Dubilier & Rice (CD&R) is pushing ahead with its pursuit of British grocery chain Wm Morrison Supermarkets Plc, as it seeks to beat an agreed 6.3 billion-pound ($8.7 billion) bid from Fortress Investment Group, people with knowledge of the matter said. Morrison has granted CD&R access to confidential information as it works on an improved offer, the people ...

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