May, 2021

• 25 May

  McDonald’s reopening plans face franchisees’ reluctance

  

  Bloomberg McDonald’s Corp is planning for fully reopened dining rooms in the US this summer, though it’s running into opposition from some franchisees who say they don’t have enough staff or interested diners to make it worthwhile. The company said that while it isn’t setting a hard deadline for franchises, it’s aiming for a rolling re-opening between now and the ...

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• 25 May

  Under Armour latest retailer to boost hourly wage to $15

  

  Bloomberg Under Armour Inc is boosting hourly wages to better attract and keep the employees it needs to expand its online business. The sportswear retailer said it’s raising the minimum wage for all US employees to $15 an hour starting from June 6 — an increase of as much as 50% for some staff. Canadian workers will also get a ...

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• 25 May

  Singapore closes two malls amid surge in Covid cases

  Bloomberg Singapore closed two shopping malls on the western part of the island for two weeks after 10 recent Covid-19 infections were linked to the properties. “Our epidemiological investigations have found that there is likely ongoing transmission among individuals who visited these malls,” the Health Ministry said in a statement. “To break any potential chain of transmission and enable deep ...

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• 25 May

  Genesco appoints three new directors

  Bloomberg Genesco Inc appointed three new directors as the shoe company tries to fend off an activist investor seeking to take control of the board. The owner of footwear retailers such as Journeys and Johnston & Murphy said it appointed former Deckers Brands Chief Executive Officer Angel Martinez, Valvoline Inc executive Mary Meixelsperger and Greg Sandfort, the former CEO of ...

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• 25 May

  Russia rejects Western outrage at forced landing, arrest in Belarus

  

  Bloomberg Russia dismissed European Union (EU) and US outrage at the forced landing of a Ryanair Holdings Plc plane in Minsk by Belarusian authorities who arrested a journalist on board. The European Union will consider further sanctions against President Alexander Lukashenko’s administration when its leaders meet for dinner in Brussels for the start of a two-day summit. The EU was ...

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• 25 May

  Joe Biden to send Blinken to Mideast to firm up ceasefire

  

  Bloomberg US Secretary of State Antony Blinken will travel to the Middle East, President Joe Biden said, as the US continues to try to cement a fragile cease-fire that ended renewed conflict in Gaza. Biden announced the trip in a written statement on Monday morning, tasking Blinken with building ties with both Israelis and Palestinians. Blinken will visit Jerusalem, Ramallah, ...

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• 25 May

  US to restrict economic aid to Ethiopia over Tigray war

  

  Bloomberg The US imposed “wide-ranging” economic sanctions against Ethiopia to push the African nation led by a Nobel laureate to end violence in Tigray that has killed thousands of people and displaced hundreds of thousands more. Visas to government and military officials from Ethiopia and its neighbour Eritrea, which is also involved in the violence in Tigray, will be restricted, ...

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• 25 May

  Myanmar’s Suu Kyi vows to continue work

  

  Bloomberg Myanmar’s detained civilian leader Aung San Suu Kyi vowed her pro-democracy political party would continue its work despite being slated for dissolution in her first public appearance since her government was overthrown in a military coup. In a message passed to her lawyers ahead of a court appearance in the capital Naypyidaw on Monday, she said the National League ...

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• 25 May

  China slams US for hyping Covid-19 source theory

  Bloomberg China accused the US of promoting theories that the coronavirus escaped from a high-security lab in Wuhan, as a fresh report about sick workers at the facility prompted Beijing to reaffirm denials. “The report that you mentioned about three people getting sick, that is not true,” Foreign Ministry spokesman Zhao Lijian told a regular briefing on Monday in Beijing. ...

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• 25 May

  Credit Suisse weighs retention bonuses to stem flight of talent

  

  Bloomberg Credit Suisse Group AG is considering special retention bonuses for top performers after the Greensill Capital and Archegos Capital Management scandals rocked the Swiss lender and set off a wave of departures. The firm’s top executives and board of directors are weighing moves to keep top performers — both junior employees and veteran rainmakers — after the incidents hit ...

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