July, 2019

• 24 July

  Uniqlo maker apologises over ‘boycott remarks’

  

  Bloomberg Japan’s largest clothing maker Fast Retailing Co issued an apology on its Korean website for remarks that angered Korean customers amid the trade spat between Japan and South Korea. At its earnings press conference on July 11, the Uniqlo owner’s CFO Takeshi Okazaki said he “thinks” that the impact of a boycott of Japanese goods wouldn’t last long. In ...

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• 24 July

  UPS seeks airline-type status for ‘drone deliveries’

  

  Bloomberg United Parcel Service (UPS) Inc is seeking approval to operate delivery drones under the same rules as a private jet service, unlocking the potential to carry health-care packages over long distances between hospitals. The company is working with the US Federal Aviation Administration (FAA) to obtain Part 135 certification this year, a step toward freeing it from current commercial ...

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• 24 July

  Alibaba open to US merchants for first time amid trade war

  

  Bloomberg Alibaba Group Holding Ltd is opening its oldest online platform to US merchants, promising to help American businesses at a time US-Chinese tensions are darkening the outlook for global trade. The Chinese e-commerce giant opened up Alibaba.com to US sellers for the first time, allowing them to peddle to buyers around the world who seek merchandise to stock shelves ...

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• 24 July

  Hong Kong’s railway service restored after protesters disrupt rush

  

  Bloomberg Hong Kong’s railway operator said trains had resumed normal service after a small group of anti-government protesters disrupted the city’s notoriously busy morning rush, stranding crowds of commuters on platforms at a main station. Trains on the Island Line, which cuts through the the city’s financial center, had returned to their regular schedule, the MTR Corp, Hong Kong’s urban ...

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• 24 July

  Tokyo Electric to scrap Fukushima N-plant

  Bloomberg Japan’s Tepco said its board will decide to permanently shut a nuclear power plant near its wrecked Fukushima Dai-Ichi station amid regional opposition to its use following the 2011 disaster. The utility, officially known as Tokyo Electric Power Co, told Fukushima Governor Masao Uchibori that it will decommission the four reactors at the Fukushima Dai-Ni facility, which survived damage ...

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• 24 July

  India running out of time to cash in on ‘Gen Z boom’

  

  Bloomberg India, which is home to more young people than any other country, is running out of time to harness the potential of its youth to drive economic growth. The nation’s population in the under-19 age group has already peaked, government data show. That means the labour force will grow more slowly from here on out. In just over 20 ...

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• 24 July

  Chasing global sway, China’s car industry influence is rising

  Bloomberg China has long been a key market for global automotive manufacturers. Now the country is asserting its role as an investor in the industry, stepping up the pace of purchases in the car and heavy-truck sector. The latest foray: state-backed Beijing Automotive Group Co is buying a 5 percent stake in Daimler AG, the maker of Mercedes-Benz. The announcement ...

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• 24 July

  Nissan braces for pain as weak profits force restructuring

  

  Bloomberg Nissan Motor Co confirmed reports of a 90 percent drop in quarterly operating profit and a broader restructuring a day before posting results, underscoring the Japanese automaker’s struggle to get back on stable footing. Operating profit for the fiscal first quarter will be several billion yen, the Nikkei newspaper reported earlier on Wednesday, indicating a result well below analysts’ ...

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• 24 July

  Uncertainty clouds path forward for Afghanistan

  

  At the military headquarters where commanders oversee Am- erica’s longest war, an official explains in one sentence the US-led coalition’s bottom-line objective: “Peace is a situation where we can leave, and we don’t have to come back.” But how will United Sta-tes move towards this end-game, as US special envoy ZalmayKhalilzad nears conclusion of his secret peace negotiations with the ...

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• 24 July

  Fed has reached a turning point

  

  The US Federal Reserve is poised to put interest rates on a new, downward trajectory in its efforts to support an increasingly fragile economy. The move is long overdue, but it’s crucial that officials and the public recognise the risks. Although Fed officials meet at least eight times a year to deliberate over monetary policy, they change the direction of ...

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