On the anniversary of the January 6, 2021 storming of the US Capitol by supporters of former President Donald Trump, we still scarcely able to believe that such an event occurred. But the lawyer in us is pleased to see the criminal justice process moving forward. According to Politico’s tracker, the 700-odd arrests of accused rioters have resulted so ...
Read More »Allegiant Airlines punished for adding Boeing to fleet
Bloomberg Allegiant Airlines tumbled the most in 18 months after the carrier reversed its strategy of keeping costs in check by flying only Airbus SE planes, ordering 50 Boeing Co. 737 Max jets. Under the deal, which has a total value approaching $2.5 billion, the airline will buy two versions of the Max to be delivered from 2023 through ...
Read More »Malaysia’s Senheng targets doubling market share
Bloomberg Malaysia’s biggest electronics retailer Senheng New Retail Bhd., which is set for a debut this month on the local exchange, is aiming to double its market share by 2025 as it expands its brick-and-mortar and virtual stores. In an interview before the January 25 listing, Chairman Lim Kim Heng said that his target is to capture 30% of ...
Read More »Cathay slashes cargo capacity, hitting key earnings crutch
Bloomberg Cathay Pacific Airways Ltd. will operate only about 20% of its pre-pandemic cargo capacity this month, a sharp reduction in what has been a rare bright spot during the most challenging period in the carrier’s history. While the Hong Kong-based airline will resume some long-haul cargo services from Friday after a weeklong suspension, the January schedule is way ...
Read More »Nike says Lululemon’s Mirror infringes digital patents
Bloomberg Nike Inc sued Lululemon Athletica Inc claiming its Mirror Home Gym and mobile app infringes its patents for digital home exercise equipment. The Nike suit is the latest in the thriving home fitness industry, where companies are turning to the courts to protect their own products from competition while expanding into new lines of business. Lululemon, once solely ...
Read More »UK scraps pre-departure Covid test
Bloomberg The UK will no longer require vaccinated travellers to take a Covid-19 test before boarding a flight to the country, after airlines hard-hit by the Omicron variant lobbied for the rules to be eased. A lateral-flow test must still be taken within two days of entering England, but the requirement for a more-costly PCR assessment will be eliminated, ...
Read More »Russia-led bloc sends troops to Kazakhstan amid protests
Bloomberg Russia and its allies sent troops to help quell protests in Kazakhstan that posed the biggest threat to the central Asian country’s leadership since it gained independence in 1991. Dozens of anti-government protesters were killed by security forces and hundreds wounded, authorities said Thursday, after President Kassym-Jomart Tokayev announced an “anti-terrorist operation†to put down the demonstrations. He ...
Read More »Test shows progress towards hypersonic missile: North Korea
Bloomberg North Korea said it test-fired a “hypersonic†missile for the second time in about four months, as it continues to develop nuclear-capable weapons designed to evade interception by the US and its allies. According to the account provided by North Korea’s official media, the latest test showed marked improvements from its last attempt to fire a hypersonic missile ...
Read More »Omicron is biggest risk to Korea’s recovery: BOK
Bloomberg Bank of Korea (BOK) Governor Lee Ju-yeol said omicron is the biggest threat to the economy’s recovery, sounding a cautious note ahead of a policy meeting later this month. The threat posed by the virus variant comes on top of other external risks including rising global inflationary pressure, policy normalisation by major economies and a possible economic slowdown ...
Read More »Bitcoin $100,000 a possibility by taking on gold, says Goldman
Bloomberg Bitcoin will continue to take market share from gold as part of broader adoption of digital assets, making the often touted price prediction of a $100,000 by advocates a possibility, according to Goldman Sachs Group. Goldman estimates that Bitcoin’s float-adjusted market capitalisation is just under $700 billion. That accounts for 20% share of the “store of value†market ...
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