October, 2020

• 21 October

  Cathay Pacific witnesses a discount path to survival

  

  For an airline built in an era of globe-spanning cosmopolitanism, a pandemic that’s shut the world’s borders is particularly brutal. No wonder Cathay Pacific Airways Ltd is struggling. Just four months after receiving a HK$40.95 billion ($5.3 billion) bailout package from Hong Kong’s government, the carrier is planning to cut a quarter of its workforce and close the Cathay Dragon ...

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• 21 October

  Europe takes Swedish turn on virus

  

  Last spring, as the first wave of the Covid-19 pandemic swept through Europe, Sweden became the continent’s controversial exception on how to tackle the virus. As other countries — from Italy to the UK — enforced draconian lockdowns, the Swedes went for a light touch. That sparked outrage among people concerned by a seemingly cavalier approach to the death toll ...

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• 21 October

  Who said Jack Ma’s Ant IPO is a money maker?

  Optimism is in the air. People are lining up like ants for what might be the world’s biggest initial public offering. But who says buying into Jack Ma’s Ant Group Co is a sure win? No doubt, the Chinese fintech giant is a rare gem, boasting enviable sales growth and profitability. Yet making money off hot IPOs is a delicate ...

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• 21 October

  Trump’s H-1B reforms will make US poorer

  Newly announced reforms to the H-1B immigrant visa system have the potential to reduce the number of foreign workers allowed into the US, just as the Donald Trump administration intends. The problem is that goal makes no sense. If implemented, the changes will seriously harm many businesses — small firms and healthcare providers especially. Overall, they’ll harm US workers, not ...

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• 21 October

  Unilever’s India sales jump most since 2011 on demand

  

  Bloomberg Hindustan Unilever Ltd, Asia’s biggest maker of personal care products by market value, reported a 16% gain in revenue, signaling that demand in India may be reviving after an unprecedented economic contraction in the June quarter. Revenue at the local unit of Unilever Plc rose to 112.8 billion rupees ($1.5 billion), the biggest jump since December 2011. Net income ...

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• 21 October

  Bulgari increasing its focus on sales to locals

  

  Bloomberg Bulgari is increasing its focus on sales to locals in the countries where it operates, particularly in China, as the pandemic wipes out the tourist market, Chief Executive Officer Jean-Christophe Babin said. The LVMH-owned jeweller is seeing single-digit domestic sales growth in the western world and high double-digit growth in Asian countries, Babin said in an interview in Rome, ...

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• 21 October

  Lowe’s aims to be holiday destination with toys, gifts

  

  Bloomberg Lowe’s Cos isn’t known as much of a Christmas destination, but the retailer wants to change that by adding more playthings and gifts. The Mooresville, North Carolina-based chain will sell items like electric scooters, trampolines, backyard movie screens and Ninja air fryers. The majority of these new products will be available online and in select stores. Sales at Lowe’s ...

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• 21 October

  Southwest, American drop Halloween parties on virus

  

  Bloomberg Southwest Airlines Co and American Airlines Group Inc have scrapped their annual staff Halloween parties because of the coronavirus pandemic, suspending revered traditions amid an unprecedented industry slump. “You all know Halloween celebrations will look differently this year,” Southwest CEO Gary Kelly said in his weekly message to employees. “Please remember to wear your masks while having fun with one ...

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• 21 October

  Singapore Air to restart non-stop flights to NYC

  Bloomberg Singapore Airlines Ltd will restart 19-hour non-stop flights to New York next month, betting that demand will recover as the coronavirus pandemic eases in its home country. The airline will use its Airbus SE A350 aircraft for the world’s longest flight, with three weekly services starting from November 9 from Changi Airport to John F Kennedy International, according to ...

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• 21 October

  British Airways to cut Gatwick flights

  Bloomberg British Airways is planning to cut the number of flights it operates from London Gatwickas the coronavirus pandemic continues to slam the travel industry, the Mail reported. The carrier aims to shift business to Heathrow — Britain’s largest airport — where it will counter falling demand for business travel by boosting premium leisure flights to long-haul holiday destinations, the ...

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