November, 2020

• 29 November

  Belief in Trump fiction can be worn down by fact

  

  President Donald Trump keeps claiming that the 2020 election was stolen from him, and was replete with fraud. He has spread the false assertion that voting machines made by Dominion Voting Systems Inc deleted millions of pro-Trump votes and shifted hundreds of thousands to his victorious opponent, President-elect Joe Biden. Many Republicans agree that the presidency has been stolen. Polls ...

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• 29 November

  What Janet Yellen doesn’t know

  

  Janet Yellen, President-elect Joe Biden’s reported pick as Treasury secretary, is surely one of the most qualified nominees for the job in history. Not only has she been chair of the Federal Reserve and the White House Council of Economic Advisers, but she also enjoys widespread bipartisan respect, which will benefit her in coming negotiations over Covid relief. The markets ...

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• 29 November

  Virus pricks HK-Singapore travel bubble before debut

  How much risk will a vital hub of global commerce entertain to open an important chunk of the economy? None, appears to be the answer, judging by the suspension of the Hong Kong-Singapore travel bubble on the eve of its debut. The two finance and transport centres hit pause on what would have been the world’s first quarantine-free bubble, citing ...

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• 29 November

  Is Boris Johnson’s UK finally turning a corner?

  Most Western countries have suffered mightily from Covid-19, but Britain still managed to stand out for all the wrong reasons during the first wave of the pandemic. There was the initial see-sawing between whether to follow a Swedish-style laissez faire approach or more draconian measures, the struggles with test and trace and confusing public communications. Still, there appears to be ...

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• 29 November

  Japan’s largest carrier to raise $3.2b as outbreak roils airlines

  

  Bloomberg ANA Holdings Inc will raise as much as 332.1 billion yen ($3.2 billion) via an overseas and domestic share placement as airlines around the world rush to shore up their finances amid the coronavirus pandemic. Japan’s largest carrier, whose shares have slumped 30% this year, will use the proceeds to repay long-term debt and buy Boeing 787 aircraft to ...

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• 29 November

  Philip Green’s Arcadia mulls administration

  

  Bloomberg Arcadia Group, the retail empire controlled by Philip Green is likely to file for administration in the UK as early as next week, putting 13,000 jobs at risk. The owner of the Topshop and Topman brands wrote in an emailed statement that it’s exploring “a number of contingency options” after the closure of its stores due to Covid-19 “had ...

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• 29 November

  China seeks to import jet fuel ahead of holidays

  Bloomberg Lunar New Year may be more than two months away but one Chinese fuel supplier is already gearing up for an expected surge in air travel. China Aviation Oil (CAO) is seeking to import jet fuel for January delivery in its first buy tender since May, according to data compiled by Bloomberg. The move by CAO, one of the ...

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• 29 November

  European airlines face harder recovery than competitors

  

  Bloomberg Europe’s airlines will struggle more than competitors elsewhere to end losses next year as they’re held back by higher expenses and their dependence on overseas routes, according to the International Air Transport Association (IATA). The region’s carriers should achieve seat-occupancy levels averaging 63.8% for the whole of 2020, increasing to 65.6% in 2021. That’s still below the projected break-even ...

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• 29 November

  Francesca’s plans bankruptcy filing

  Bloomberg Francesca’s Holdings Corp is preparing to file for bankruptcy, according to people with knowledge of the matter. The boutique-style women’s clothing chain could file as soon as next week, said the people, who asked not to be identified because the process isn’t public. The plan could still change. Representatives for Francesca’s didn’t respond to multiple phone and email requests ...

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• 29 November

  Covid not to sway builder from $2.3b Manila airport plan

  

  Bloomberg The coronavirus pandemic and its devastating impact on global aviation and economic growth isn’t swaying Megawide Construction Corp from its 109 billion peso ($2.3 billion) plan to upgrade Manila’s airport, the main gateway to the Philippines. The company proposed a 10-year plan to double annual capacity at the aging and overcrowded Ninoy Aquino International Airport to 65 million passengers, ...

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