January, 2021

• 20 January

  Carrefour may fight Amazon, Aldi alone

  

  Just days after Canada’s Alimentation Couche-Tard Inc said it was in talks with French grocer Carrefour SA on a potential deal, the two sides have walked away. The tie-up seems to have been sunk by French politics. The about-face deprives Carrefour’s shareholders, including France’s richest man Bernard Arnault, of an ideal exit from what has long been a difficult situation. ...

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• 20 January

  How are you coping in Covid’s war zone?

  Hand it to human beings. We have repeatedly defied predictions that we will buckle under the extreme pressure of adverse events. Time and again, whether it was during the eight-month blitz in World War II, or after 9/11, people have proved remarkably resilient in the face of adversity. Will it be the same with this pandemic? On aggregate, probably yes. ...

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• 20 January

  China’s distressed realty developers are clever

  Wary of billion-dollar defaults, China does not want its daredevil real estate developers to take on any more debt. Banks have been asked to limit their housing loan exposure, while developers that cross the so-called “three red lines” — a trio of leverage metrics Beijing watches — are forbidden from borrowing more. Investors are clearly worried. China Fortune Land Development ...

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• 20 January

  Air Lease mulls reinstating cancelled 737 Max orders

  

  Bloomberg Air Lease Corp is considering reinstating some previously canceled Boeing Co 737 Max orders, though not until more regulators clear the jet’s return, Chairman Steven Udvar-Hazy said. Los Angeles-based Air Lease, one of the world’s largest aircraft leasing firms, had committed to 195 Max purchases as of year-end 2019, including orders, options and planes already delivered. Then came the ...

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• 20 January

  Virgin Orbit sends satellites into space

  

  Bloomberg Billionaire Richard Branson’s orbital-rocket system put its first satellites into space, after a previous attempt failed in May. Virgin Orbit said a Boeing Co 747 named Cosmic Girl took off from California carrying the company’s LauncherOne rocket, which was then released and ignited before successfully reaching orbit. It then deployed its payload: nine miniature satellites known as CubeSats developed ...

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• 20 January

  Amazon workers to hold mail union vote starting in February

  

  Bloomberg Amazon.com Inc workers at an Alabama warehouse will vote by mail in February and March on whether to form a union, the National Labor Relations Board (NLRB) said, setting a date for a closely watched referendum on the relationship between the largest online retailer and the employees who pack and ship its products. A group of about 6,000 frontline ...

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• 20 January

  Poshmark soars in debut after IPO fetches $277m

  Bloomberg Poshmark Inc, the online marketplace for second-hand goods, rose 142% in its trading debut after raising $277 million in an initial public offering priced above the marketed range. Shares closed at $101.50 in New York trading, valuing the Redwood City, California-based company at about $8.5 billion on a fully diluted basis including options and restricted stock units. The company ...

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• 20 January

  How to take advantage of unprecedented points, travel deals!

  

  Bloomberg The beginning of a new year is always a good time to rethink your travel rewards strategy—but never more so than 2021. With the travel industry experiencing continued disruption from the coronavirus pandemic and hamstrung vaccine rollouts threatening to extend border closures even longer than expected, airlines and hotels are offering unprecedented deals to secure business (and loyalty) in ...

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• 20 January

  Birkenstock in talks for sale to CVC Capital

  Bloomberg Birkenstock, the German company behind the iconic sandals worn by hippies and preppies alike, is in talks to be taken over by CVC Capital Partners, according to people familiar with the matter. The private equity firm is in advanced negotiations with the family owners of the nearly 250-year-old brand, according to the people, who asked not to be identified ...

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• 19 January

  Biden arrival in Washington framed by division, security

  

  Bloomberg President-elect Joe Biden was expected to arrive in Washington, the eve of his inauguration, with the usual backdrop of celebrations and political comity replaced by a military lockdown. Biden was expected to spend the night at Blair House, the guest residence across the street from the White House — one of just a few traditions being honoured during the ...

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