August, 2020

• 4 August

  Tyson replaces CEO after two years, warns of slowdowns

  

  Bloomberg Tyson Foods Inc is replacing its top boss just as the pandemic boosts costs and clouds the outlook for America’s top meat producer. Noel White, 62, will step down as chief executive officer after just two years on the job, but will remain at the company as executive vice chairman, Tyson said in a statement. He will be replaced ...

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• 4 August

  Clock is ticking for Garuda with cash pile thinning fast

  

  Bloomberg Indonesia’s flag carrier needs cash fast as losses soar past a half-billion dollars and unpaid bills pile up, yet negotiations for government aid move slowly and still may not yield enough to cover the shortfall. A first-half loss of $713 million, announced last week, was just the latest piece of bad news for PT Garuda Indonesia. The airline already ...

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• 4 August

  Hugo Boss seeks financing support

  Bloomberg Clothing retailers, including department stores, have raised $36 billion from banks to help weather store closures and lost revenues during the coronavirus pandemic. German apparel brand Hugo Boss AG has joined more than 100 similar companies from Europe and US in seeking financing support. Boss has drawn down part of its existing credit line, borrowed additional funds supported by ...

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• 4 August

  UK’s DW Sports collapse puts 1,700 jobs ‘at risk’

  Bloomberg DW Sports, founded by former English soccer player David Whelan, filed for administration after the company had to close dozens of its gyms and retail stores due to the Covid-19 pandemic. BDO LLP was appointed administrator of the UK retailer and said all the company’s approximately 1,700 jobs are “at risk of redundancy,” according to an emailed statement. DW ...

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• 4 August

  Kashmir under curfew a year after revocation of autonomy

  

  Bloomberg Local administration imposed sweeping curbs on movement and the internet in India’s portion of the disputed Muslim-majority region of Kashmir ahead of the one-year anniversary of the revocation of seven decades of regional autonomy. The capital Srinagar was placed under curfew on Tuesday and Wednesday amid fears of violent protests from separatists who oppose the ending of the special ...

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• 4 August

  Pentagon to bolster Poland presence with 1000 more personnel

  

  Bloomberg The Pentagon said the US and Poland have completed negotiations on an expanded defense cooperation agreement that will result in 1,000 additional US personnel being sent to the Eastern European country on a rotational basis. The increased presence will include forward elements of the US Army’s V Corps headquarters and intelligence, surveillance and reconnaissance capabilities, Secretary of Defense Mark ...

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• 4 August

  American journalists in HK may be Beijing’s next target

  

  Bloomberg China could take aim at American journalists in Hong Kong, if the US doesn’t renew visas for Chinese journalists, Global Times Editor-in-Chief Hu Xijin said. “From what I know, given that the US side hasn’t renewed visa of Chinese journalists, Chinese side has prepared for the worst scenario that all Chinese journalists have to leave the US,” Hu said ...

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• 4 August

  China growing footprint roils Nato reluctance

  

  Bloomberg On an overcast morning last month, Serbia’s President Aleksandar Vucic arrived at a military airport near Belgrade to pose with six Chinese-made attack drones. “They have a long range, they can shoot at targets from a distance of nine kilometers and record the terrain, objects of interest to Serbia deep within enemy territory,” Vucic said standing alongside Serbian troops ...

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• 4 August

  Zimbabwe demonstrators follow ‘Black Lives Matter’

  

  Bloomberg Protests against economic turmoil, arrests and human-rights abuses in Zimbabwe have moved online with a hashtag that’s plays on the #BlackLivesMatter movement. The #ZimbabweanLivesMatter tag started after security forces blocked a street demonstration last week. It draws on the success of the global movement highlighting racial injustice that gained prominence after the death in May of George Floyd in ...

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• 4 August

  BOE seen undermining Johnson’s green recovery pledge with QE

  

  Bloomberg The Bank of England (BOE) is facing pressure from green campaigners to revise its pandemic rescue program after research showed it’s effectively subsidising polluting industries while claiming tackling climate change is a priority. The central bank’s 20 billion pound ($26 billion) Corporate Bond Purchase Scheme favours carbon intensive industries such as energy production and manufacturing, according to a report ...

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