July, 2021

• 4 July

  Heat domes, a warning on climate costs

  

  The unprecedented heat wave that recently gripped the Pacific Northwest demonstrates a crucial fact about climate change that most people don’t seem to appreciate yet: This will not be a smooth, predictable event. In addition to new costs that can be anticipated, climate change creates enormous risks that may result in a far higher price tag to the global economy, ...

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• 4 July

  Apple’s iPhone security is at risk from Congress

  Apple Inc is feeling the heat. Regulators and lawmakers are circling the technology giant, threatening to crack down on its business practices and, conceivably, challenge the fundamental nature of how its mobile platform works. The company, naturally, has mounted a spirited defense claiming its policies protect users’ privacy and security. It’s worth carefully considering their argument: If they’re right, the ...

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• 4 July

  The rickety politics of US infrastructure bill

  The political maneuvering about infrastructure is getting pretty strange, what with President Joe Biden first cheering a bipartisan bill, then threatening to veto it, and then taking back the veto threat in the span of two days. When the action on stage gets hard to follow, it can be helpful to review the main characters and their motivations. The 21 ...

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• 4 July

  Rolls-Royce aims to resolve its costliest jet-engine issue

  

  Bloomberg Rolls-Royce Holdings Plc is increasingly optimistic that it can move beyond the jet-engine issues that have cost it billions of pounds and provided an unwelcome distraction during years of restructuring work. Final fixes to a litany of glitches that plagued the Trent 1000 turbine powering Boeing Co’s 787 Dreamliner should be made this year, engineering and technology director Simon ...

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• 4 July

  Fortress to buy Wm Morrison for $8.7b

  

  Bloomberg Fortress Investment Group agreed to buy Wm Morrison Supermarket Plc for about 6.3 billion pounds ($8.7 billion), trumping an earlier bid from Clayton Dubilier & Rice. The all-cash agreement by a group led by Fortress, a SoftBank Group Corp subsidiary, follows the UK supermarket chain’s rejection of CD&R’s 5.5 billion-pound offer last month. It’s the latest in a flurry ...

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• 4 July

  Lion Air struggling to pay to lessors on some of its planes

  

  Bloomberg PT Lion Mentari Airlines is struggling to make payments to lessors on some of its planes, according to people familiar with the matter, as the pandemic tips it ever closer to financial peril. Indonesia’s largest discount carrier has grounded some 25 aircraft because it hasn’t paid lessors that are owed at least $500 million, one of the people said, ...

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• 4 July

  Global carriers gear up again to bridge Atlantic divide

  

  Bloomberg The lucrative North Atlantic flight corridor that links European tourism and business meccas like Paris and London with the US has been starved for traffic for the past 18 months, depriving some of the world’s biggest airlines of revenue from their most profitable journeys. Now carriers including Emirates, United Airlines Holdings Inc and British Airways are gearing up again, ...

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• 4 July

  Ryanair CEO sees capacity doubling

  Bloomberg Ryanair Holdings Plc Chief Executive Officer Michael O’Leary said the Irish carrier could almost double its passenger capacity through the rest of the summer as the European Union reopens for travel. Europe’s biggest discount airline expects to attract up to 9 million passengers in July and August compared with 5 million in June and just 1.7 million in May, ...

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• 4 July

  China’s foreign minister warns foes not to misjudge Beijing’s will

  

  Bloomberg China’s foreign minister expounded Beijing’s increasingly defiant stance on the international stage, taking several swipes at the US and underscoring much of the sentiment from last week’s centennial celebrations speech by President Xi Jinping. In a sweeping speech that touched on topics from the global pandemic to counterterrorism, North Korea to the Iran nuclear issue and Taiwan, Foreign Minister ...

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• 4 July

  Bolsonaro faces probe for alleged negligence in Covid vaccine case

  

  Bloomberg Brazil’s prosecutor general office has requested the country’s top court to investigate President Jair Bolsonaro for possible negligence in the handling of corruption allegations related to the purchase of vaccines from India. Negotiations to buy the Covaxin shot produced by Bharat Biotech International Ltd turned into a scandal when a government ally said he had personally warned Bolsonaro that ...

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