June, 2021

• 23 June

  Millennials, Costco is calling you

  

  I remember my very first time walking into a Costco store. I was curious but also a little bemused by the displays, and I didn’t know quite what to make of the throngs of oversize shopping carts that had formed around a table of sweatpants. As a kid, I went on trips with my mom to our local BJ’s Wholesale ...

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• 23 June

  The stock market enters late-stage fanaticism

  Even in this crazy market, what to make of a stock that’s risen more than 5,000% since November? I’m not talking about GameStop Corp or AMC Entertainment. Alpine 4 Holdings Inc is a tiny company that few people, myself included, had heard of until I stumbled upon a disclosure it filed late on a recent Friday afternoon. I posed a ...

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• 23 June

  Supreme court term limits could backfire

  Justice Stephen Breyer is now the subject of a lobbying campaign to get him to step down — a campaign being conducted by his fans. They’re responding to a peculiar feature of US government: Vast swaths of public policy depend less on the outcome of elections than on a few elderly lawyers’ retirement plans and health. It’s not a situation ...

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• 23 June

  Amazon Prime Day deals may disappoint amid cost crunch

  

  Bloomberg The deals during Amazon.com Inc’s annual Prime Day sale will be stingier this year, according to merchants, thanks to rising shipping costs, higher advertising rates and scarce inventory. The two-day event arrives as the world grapples with the lingering effects of the pandemic. Supply-chain disruptions — including the Suez Canal shutdown earlier this year and a spike in Covid ...

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• 23 June

  Delta Air plans to hire more than 1,000 pilots

  

  Bloomberg Delta Air Lines Inc plans to hire more than 1,000 pilots by next summer to support its expected recovery from the devastation of the pandemic and an expansion of its route network. Domestic leisure travel will return to pre-pandemic volumes this month, John Laughter, Delta’s operations chief, said in a memo to flight-operations employees. Travel restrictions across the Atlantic ...

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• 23 June

  Jet Airways closer to flying again as rescue proposal approved

  

  Bloomberg An Indian bankruptcy court ruled Jet Airways India Ltd can resume operations under a new owner more than two years after it collapsed, according to Ashish Chhawchharia, the court-appointed professional running the carrier’s insolvency. Jet Airways, once India’s biggest private carrier, fell into bankruptcy in 2019 under mounting debts. Dubai-based businessman Murari Lal Jalan and Kalrock Capital Management Ltd ...

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• 23 June

  Airlines seek criminal charges against unruly passengers

  Bloomberg US airlines and their unions want the Justice Department to send a strong message against the rise in unruly passengers with additional federal criminal charges. Several airline trade groups and unions sent a letter to Attorney General Merrick Garland calling for criminal enforcement that goes beyond the increase in civil charges filed so far this year by the US ...

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• 23 June

  Saks Off 5th to become $1b standalone online business

  

  Bloomberg The owner of Saks Fifth Avenue plans to separate the e-commerce business of its discount chain into a standalone company, the latest move to break up the operations of a brand synonymous with luxury apparel. A split of Saks Off 5th will allow the new company to better tailor its investments for the online business, said Paige Thomas, who ...

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• 23 June

  UK retail property is ‘turning the corner’

  Bloomberg Retail property in the UK “is turning the corner” following years of decline for the sector, according to analysts at JPMorgan Chase & Co. A series of “encouraging trends” are emerging in terms of the number of people who are planning to visit malls and retail parks after the pandemic and in consumer behaviour on e-commerce and mall apps, ...

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• 23 June

  Taliban besiege key Afghan city with US troops set to exit

  

  Bloomberg Civilians in Afghanistan have taken up arms to push back against the Taliban as the militants fight for control of a crucial northern city and make deeper territorial inroads with the US set to withdraw all troops by September. The insurgents are battling to take control of strategic cities in the country’s north, including its regional hub Mazar-e-Sharif, after ...

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