June, 2021

• 27 June

  Can US afford to lose automation race?

  

  The US has traditionally been a nation of optimists about technology. But just when the world seems poised for a technologically-driven productivity boom, Americans have acquired a dour outlook about the march of progress. Growing fears that not everyone will share in the benefits is leading to resistance that threatens to hold the nation back. Recapturing the bold attitudes of ...

  Read More »
• 27 June

  Supreme court blocks Congress on right to sue

  In a 5-4 decision with important implications for class actions and for Congress’s ability to authorise lawsuits of all kinds, the Supreme Court has rejected the idea that violation of a statute can ever be enough grounds for a lawsuit unless it comes with a more concrete “injury in fact” to potential plaintiffs. Corporate defendants and the corporate bar will ...

  Read More »
• 27 June

  India’s two billionaires and one green ambition

  Mukesh Ambani’s rivals should be relieved, though perhaps not too much. The petrochemicals czar has just told shareholders that he’s undertaking his life’s “most challenging” mission by investing 750 billion rupees ($10 billion) in clean power and fuel over three years. It doesn’t appear to be a big capital commitment from India’s most powerful businessman, certainly not when he’s just ...

  Read More »
• 27 June

  Southwest Airlines to increase minimum wage to $15 per hour

  

  Bloomberg Southwest Airlines Co will increase its minimum wage to $15 an hour and raise the pay of thousands of airport workers to ensure it retains sufficient staff and can attract new employees to support growth over the next two to four years. The move will affect more than 7,000 employees and take effect from August 1, the airline told ...

  Read More »
• 27 June

  Kenya Airways seeks state takeover of debt

  

  Bloomberg Kenya Airways Plc‘s head said the government should step in to repay $750 million of state-guaranteed debt to help the East African carrier emerge from the Covid-19 crisis that has battered the industry. The airline is scheduled to resume repayments of the sovereign-backed debt next month, following a moratorium negotiated with lenders following the grounding of most international travel ...

  Read More »
• 27 June

  US regulators order 7-Eleven to sell 293 gas-station retail stores

  Bloomberg 7-Eleven Inc was ordered by US antitrust regulators to sell 293 gas-station retail stores acquired as part of its $21 billion purchase of Marathon Petroleum’s Speedway business. The order disclosed by the US Federal Trade Commission resolves lingering concerns over the transaction. In May, FTC Acting Chairwoman Rebecca Kelly Slaughter and her fellow Democratic commissioner said the agency would ...

  Read More »
• 27 June

  Nike forecast sends shares on their biggest rally since 1987

  Bloomberg Nike Inc soared to an all-time high in the latest sign that consumers are opening their wallets more than expected as the pandemic eases in much of the world. The shares rose almost 16% to a record $154.35 after the company projected that revenue this fiscal year will surpass $50 billion for the first time, benefiting from rebounding growth ...

  Read More »
• 27 June

  Joe Biden tells Afghanistan’s Ghani US will ‘stick with you’

  

  Bloomberg President Joe Biden said the US is committed to its partnership with Afghanistan, even as American and other foreign troops withdraw from the country despite a surge of violence. “The senseless violence — it has to stop,” Biden told Afghan President Ashraf Ghani at the start of a meeting in the Oval Office. “It’s going to be very difficult ...

  Read More »
• 27 June

  Sydney in two-week lockdown as Delta variant infections rise

  

  Bloomberg Greater Sydney was put into a two-week lockdown to fight an outbreak of the highly-transmissible delta variant of the coronavirus, straining Australia’s so-called “Covid-zero” strategy as vaccinations lag behind other developed nations. Residents can only go out for reasons such as food shopping, medical care or essential work and education that can’t be done from their own homes, New ...

  Read More »
• 27 June

  Harris rebuts critics after visiting migrant children at border

  

  Bloomberg Vice President Kamala Harris shot back at Republicans who’ve criticised her efforts to curb Central American migration, after she visited migrant children on her first trip to the US southern border since taking office. “This issue cannot be reduced to a political issue,” Harris said at a US Customs and Border Protection station in El Paso, Texas. “We’re talking ...

  Read More »