June, 2020

• 28 June

  It’s hard to be the next China, not impossible

  Is the global monetary order ready for another reboot? In the 1960s, Japan and Europe exported their way to post-World War II prosperity under the fixed exchange rates of the Bretton Woods agreement. The US went off the gold standard in 1971, but the established way of doing things didn’t collapse. Thirty years later, China essayed the role of being ...

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• 28 June

  Ryanair calls Britain’s air bridge plan ‘more idiotic’

  

  Bloomberg Ryanair Holdings Plc dismissed the UK’s plan to relax quarantine requirements for people arriving from France, Greece and Spain as “more idiotic rubbish” and called for the restrictions to be scrapped entirely. The government plans next week to publish a full list of the countries with which it will establish so-called air bridges — exempting incoming travelers from self-isolating ...

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• 28 June

  British Airways reaches deal to slash 350 pilots

  

  Bloomberg British Airways, a unit of International Consolidated Airlines Group, will cut 350 pilots and put another 300 in a “pool” for re-hire when needed as part of a deal reached with cockpit crew, The Sun reported. Most of the pilots facing compulsory redundancies worked from Gatwick airport in London, according to the report, which didn’t say where the information ...

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• 28 June

  Delta Air warns thousands of pilots about possible furloughs

  

  Bloomberg Delta Air Lines Inc will inform almost 2,600 pilots about a possible furlough while encouraging a total of 7,900 eligible aviators to accept an early retirement package, according to a memo sent to staff. “Even with the increased travel demand we’ve seen in recent weeks, we expect revenue to be at only 25% of what it was last summer ...

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• 28 June

  American Air to book full planes, shelve social distancing

  

  Bloomberg American Airlines Group Inc said it would sell flights to capacity starting from July 1, abandoning caps on passenger loads that were designed to promote social distancing amid the coronavirus pandemic. Customers still will be notified when they’re booked on crowded flights and can move their reservations at no cost, the airline said in a statement. Starting from June ...

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• 28 June

  Nike to cut jobs in its push to sell directly to consumers

  Bloomberg Nike Inc is cutting jobs as the world’s largest athletic brand refocuses on selling directly to consumers, pushing further away from a traditional retail channel that’s been ravaged by the pandemic. CEO John Donahoe, a longtime Silicon Valley executive who took the helm at Nike in January, announced a new phase in its e-commerce push called the Consumer Direct ...

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• 28 June

  ‘Fair & Lovely rebrand in India will be costly’

  Bloomberg Hindustan Unilever Ltd’s decision to rename its melanin-suppressing face cream, Fair & Lovely, will probably need a large media campaign to win over consumers which poses short-term risk to its margin in that particular segment, according to Jefferies India Pvt. The product, which earns more than $500 million in annual revenue for Unilever Plc from India alone, will be ...

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• 28 June

  White House denies Trump briefed on Russia bounty plan

  

  Bloomberg The White House denied reports that President Donald Trump had been briefed by intelligence officials about, but had done nothing to respond to, an effort by Russian President Vladimir Putin to put bounties on US and allied troops in Afghanistan. The statement came shortly after Democratic presidential nominee Joe Biden slammed Trump for the alleged inaction, which was first ...

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• 28 June

  China lawmakers to vote on HK law

  

  Bloomberg China’s top legislative body will vote on Hong Kong’s security legislation on Tuesday morning, the day before the city’s handover anniversary, Now TV News reported, signalling Beijing may soon hand down a measure that pro-democracy activists and business groups say could erode the city’s unique freedoms. At a three-day meeting that started on Sunday, the National People’s Congress Standing ...

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• 28 June

  Poland votes for Europe’s post-Covid future

  

  Bloomberg Polish citizens are voting in a presidential election that will determine the fate of the east European country’s nationalist makeover. After voiding a ballot in May due to the coronavirus pandemic, Poland on Sunday held the first of an expected two rounds of voting to determine whether to re-elect President Andrzej Duda. More than 27,000 polling stations catering to ...

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