December, 2020

• 14 December

  China’s giant crop takeover has failed

  

  There comes a point where you have to stop throwing good money after bad. That moment is already well past for Sinochem Corp and China National Chemical Corp, or ChemChina, the state-owned Chinese giants that have been edging towards a merger for four years. The two chemicals companies are working on a structure that would allow them to combine without ...

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• 14 December

  Jamie Dimon is begging for deals. Why is that?

  Jamie Dimon appears restless. JPMorgan Chase & Co’s chief executive officer is imploring investment bankers — those most tireless of salespeople — to ring him up and pitch M&A ideas. It’s the clearest indication yet that the biggest US bank would prefer not to sit on its excess capital. That’s a nice problem to have, but one the lender is ...

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• 14 December

  Trump’s Republicans are a faction, not a party

  With each passing day, President Donald Trump’s losses continue to mount in court challenges to the election results — as of this writing, by one count, the campaign is 1-53. So it’s tempting to dismiss and mock the ongoing “clown show.” That would be a major error. Not only do the president’s words and actions increase the potential for violence, ...

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• 14 December

  BA parent to outline its plan to lower emissions

  

  Bloomberg British Airways parent IAG SA will outline its plan to lower emissions, including the use of carbon offsets, when the airline group’s new chief speaks at a United Nations summit this weekend. Chief Executive Officer Luis Gallego, who was expected set to address the United Nations Climate Ambition Summit on Saturday, will provide a road map towards fulfilling IAG’s ...

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• 14 December

  United Airlines holds out hope for summer travel

  

  Bloomberg United Airlines Holdings Inc predicted that sales will rebound next summer as vaccines take hold, even as the company echoed rivals in warning that surging coronavirus cases have caused near-term demand to weaken over the past month. Bookings for the third quarter of 2021, the heart of the airline industry’s peak season, will only be 40% below pre-pandemic levels, ...

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• 14 December

  Southwest CEO sees ‘really rough months’ looming for early 2021

  

  Bloomberg Southwest Airlines Co expects depressed travel amid the nationwide surge in coronavirus cases and typically weak seasonal demand to combine for a difficult start to 2021 for the industry. “January and February are bound to be really rough months — winter time, high case loads — and they are seasonally soft anyway,” Chief Executive Officer Gary Kelly said in ...

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• 14 December

  Mexico’s Volaris mounts new offensive as rivals struggle

  

  Bloomberg Mexico’s biggest airline plans to use proceeds from a $173 million stock sale to pounce on struggling rivals as it rebounds from an unprecedented travel collapse. Volaris is restoring seating capacity this month to 100% of last year’s levels and targeting a return to profitability by the second quarter of 2021, said Chief Executive Officer Enrique Beltranena. The carrier ...

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• 14 December

  Walmart adds freezers to prep for vaccine rollout

  Bloomberg Walmart Inc says it’s preparing its more than 5,000 pharmacies across the US to receive Covid-19 vaccine doses, including adding freezers and dry ice to handle any cold-storage demands. The preparations underway at Walmart and Sam’s Club pharmacies also include creating processes to tell customers when to get their first and second doses and entering agreements with states about ...

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• 14 December

  Costco tops profit expectations in Q1

  Bloomberg Costco Wholesale Corp topped Wall Street’s profit expectations during the first quarter amid continued high demand for food and supplies, even as the warehouse chain said pandemic-related costs remain elevated. Profit climbed to $2.62 a share in the period ended on November 22, the company said. Analysts had expected $2.06 on average, according to estimates compiled by Bloomberg. Costco ...

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• 14 December

  Top court spurns partisanship in denying Trump polls case

  

  Bloomberg In rejecting President Donald Trump’s call to overturn the US election outcome, the Supreme Court sent a message about its role in the American system of government: We do law here, not partisan politics. With a brief, the court effectively killed any chance that Trump and his allies would succeed in using baseless claims of widespread fraud to reverse ...

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