September, 2020

• 17 September

  Trump hasn’t corrupted virus vaccine science yet

  

  North Carolina Democratic Senate candidate Cal Cunningham said during a debate that he would be “hesitant” to take a coronavirus vaccine if it’s rolled out in the next few months. “I’m going to ask a lot of questions,” he said. “I think that’s incumbent on all of us right now with the way we’ve seen politics intervening in Washington.” Cunningham ...

  Read More »
• 17 September

  Retailers prepping for Black Friday

  

  The pandemic and its economic fallout are going to make it exceedingly difficult for retailers to have a merry Christmas. The industry is expected to see an uptick in seasonal sales of a measly 1% to 1.5%, according to a forecast released by Deloitte, which would be well below the 4.1% increase the industry recorded last year. New shopping patterns ...

  Read More »
• 17 September

  The EU needs banks to merge across borders

  The euro region has taken several steps to centralise banking regulation and supervision, but there is little sign that lenders are interested in seeking to merge beyond national borders. Two recent deals — one has been proposed in Spain, the other occurred in Italy — show that, for all the good intentions, Europe’s “banking union” remains incomplete. The European Central ...

  Read More »
• 17 September

  How Suga can finish what Abe had started

  There was no puff of white smoke, but Japan has a new Prime Minister. Yoshihide Suga, who was Chief Cabinet Secretary under Prime Minster Shinzo Abe, won an overwhelming victory in an internal contest within the long-dominant Liberal Democratic Party. Widely considered to have been one of the chief architects of Abenomics, Suga is likely to keep the government’s focus ...

  Read More »
• 17 September

  Lufthansa CEO prepares its staff for more job, fleet cuts

  

  Bloomberg Deutsche Lufthansa AG is preparing for more drastic cutbacks in its global workforce and airline fleet than it previously planned, after a hoped-for recovery of air traffic fizzled out. Recent rules that forced travellers into quarantine have had a catastrophic effect on bookings, Chief Executive Officer Carsten Spohr told staff at a meeting, according to people in attendance. For ...

  Read More »
• 17 September

  Qantas mulls shifting its HQ from Sydney

  

  Bloomberg Qantas Airways Ltd is considering shifting its headquarters from Sydney in an effort to cut costs as the pandemic forces it to scale down operations. The carrier announced a three-month review of its property footprint across the country, and said it was seeking to trim its annual A$40 million ($29 million) bill for rented office space. Qantas appointed Colliers ...

  Read More »
• 17 September

  Boeing Max compensation offer more than recognised: SpiceJet

  

  Bloomberg SpiceJet Ltd, one of the world’s biggest customers for Boeing Co’s now-grounded 737 Max jets, said an interim offer of compensation from the US planemaker is higher than what the Indian budget carrier recognised earlier. SpiceJet, India’s second biggest airline, has been using an unusual accounting method to book income on expected compensation from Boeing in the past few ...

  Read More »
• 17 September

  Airbus offers exit bonus in bid to spur buyouts

  

  Bloomberg Airbus SE is offering French employees a bonus of two months’ salary if they accept voluntary severance by the end of next month, stepping up efforts to thin its ranks with fewer forced layoffs. The pandemic-hit planemaker is also offering to top up monthly wages by as much as 350 euros ($415) for up to a year if workers ...

  Read More »
• 17 September

  Amazon plans to put 1,000 warehouses in neighbourhoods

  

  Bloomberg Amazon.com Inc plans to open 1,000 small delivery hubs in cities and suburbs all over the US, according to people familiar with the plans. The facilities, which will eventually number about 1,500, will bring products closer to customers, making shopping online about as fast as a quick run to the store. It will also help the world’s largest e-commerce ...

  Read More »
• 17 September

  Kohl’s cuts its corporate staff by 15%

  Bloomberg Kohl’s Corp is slashing its corporate workforce by about 15% in a bid to rein in expenses as retail sales fail to recover to pre-pandemic levels. The chain said the cuts will save it about $65 million a year. It will record a pretax charge of about $23 million, mostly in the third quarter, related to the layoffs and ...

  Read More »