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Bloomberg Hong Kong said its coronavirus policy will become increasingly tethered to China’s, as the financial hub recorded its first local Covid-19 case since mid-August, raising the specter of an outbreak in one of the world’s densest cities. An airport worker has been infected, officials said at a briefing. His close contacts and some 400 people in his residential neighbourhood …

Bloomberg The number of empty storefronts is surging in midtown Manhattan, where an absence of tourists and office workers has hammered the retail industry during the pandemic. Nearly 30% of 311 storefronts were vacant in the retail corridors near Grand Central and Midtown East as of the end of September, roughly double the historical rate, according to a report from …

Bloomberg Levi Strauss & Co’s strong quarter is sending a clear message to the rest of the apparel industry: There’s value in spreading out manufacturing. Chief Executive Officer Chip Bergh said the denim maker sources less than 4% of its goods from Vietnam — which has faced factory shutdowns recent due to Covid-19 outbreaks — and tries not to have …

Bloomberg Reopening demand and marooned containers have caused bottlenecks across supply chains just as the holiday shopping season kicks off in North America. It’s also prompting downgrades across analysts estimates for the upcoming earnings season. Few expect the supply snarls to end this year as an energy crisis stokes inflation fears. Caution abounds in the semiconductor, retail and raw material …

Bloomberg Fumio Kishida’s first speech to parliament as Japan’s 100th prime minister was an impassioned performance compared to his staid predecessor, but it did little to relieve investor concerns that his talk of redistribution and higher taxes are bad news for stocks. Kishida’s “new form of Japanese capitalism” made up the bulk of his speech, in which he repeated campaign …

Bloomberg US crude futures topped $80 a barrel for the first time since November 2014 as a global energy crisis boosts demand at a time when Opec+ producers are keeping supplies tight. Futures in New York rise 1.3%, popping above the key, psychological level before pulling back. This week brought many indications that supplies will remain constrained: Saudi Aramco said …

Bloomberg US Trade Representative Katherine Tai and Chinese Vice Premier Liu He met virtually to discuss trade issues between the US and China. They agreed “that the two sides would consult on certain outstanding issues,” according to a White House account of the meeting. “In addition, Ambassador Tai emphasized US concerns relating to China’s state-led, non-market policies and practices that …

Bloomberg Tata Sons Pvt was selected as the winning bidder for India’s flag carrier, ending decades of attempts to privatise a money-losing and debt-laden airline, and potentially ending years of taxpayer-bailouts that’s kept the company alive. Tata Sons, which originally launched Air India Ltd with a namesake branding in 1932, bid 180 billion rupees ($2.4 billion) as an enterprise value …

Bloomberg Grupo Aeromexico SAB sees emerging from Chapter 11 by the end of this year with an exit plan worth about $1.7 billion. The airline, which filed for bankruptcy protection in June 2020 as the Covid-19 pandemic brought travel to a halt, filed a motion to extend the period to issue a complete plan to December 9. The step was …

Bloomberg The owners of Budapest Airport are considering entering into formal negotiations to sell the hub to the Hungarian state after receiving a revised offer, according to people familiar with the matter. A government-led consortium put forward a new proposal to purchase a majority stake in the airport, the person said. The offer, received at the end of September, is …