In talking with a number of market players the last few weeks, there seems to be a broad consensus that 2022 is going to be more challenging than 2021, which almost makes me wonder if stocks won’t be up another 20% next year, defying bearish expectations yet again. But things are a little different than this time a year ...
Read More »Don’t let the FAA ground 5G services
Rarely has an arcane interagency dispute proved so needlessly disruptive. On December 5, 2021, wireless carriers had expected to begin rolling out 5G, the next standard for cellular networks, on a critical new frequency known as the C-band. The deployment promised increased bandwidth, faster transmissions, wider range, and many new possibilities for wireless devices and apps, potentially turning a ...
Read More »US cancellations top 2,800 as Covid, snow pummel airlines
Bloomberg Thousands of US flight cancellations cascaded into the first workday of the new year as ongoing Covid-19 issues among airline workers were compounded by winter storms hitting the northeast. More than 2,830 flights were canceled as of 2 p.m. New York time on Monday, according to data tracker FlightAware.com, the highest daily total in more than a month. ...
Read More »Aviation trade groups ask White House to break 5G standoff
Bloomberg Aviation trade groups have asked the White House to intervene in the standoff between airlines and telecommunications companies over a planned expansion of 5G service. “We respectfully call on President Biden to intervene and delay the full implementation of C-band 5G until proper risk assessments have taken place and crewmembers are fully briefed as to the extent of ...
Read More »UK airlines surge on virus data as London traders catch up
Bloomberg UK airline stocks surged as London traders played catch-up following Monday’s holiday while digesting data suggesting a milder impact from Omicron than prior Covid-19 variants. British Airways owner IAG SA soared as much as 11%, the most in more than three months, with short-haul peer Wizz Air Holdings Plc also gaining 11% as it reported a jump in ...
Read More »Supermarkets shelves bare in Sydney as Covid isolates staff
Bloomberg Sydneysiders are facing empty shelves at some supermarkets as exploding coronavirus cases force a range of staff from truck drivers to warehouse workers into isolation. Woolworths Group Ltd., Australia’s biggest supermarket operator, said some store deliveries are being delayed, while rival Coles Group Ltd. said growing numbers of staff are isolating because of household exposure to the virus. ...
Read More »Amazon denies pulling Kindle from China
Bloomberg Amazon.com Inc brushed off media speculation that it was suspending sales of its Kindle e-reader in China, after some of its signature product’s models went out of stock on Chinese platforms. “We remain committed to our customers in China,†a company spokesperson said in a statement. “Customers can continue to purchase Kindle e-readers from offline and third-party online ...
Read More »China calls on nuclear-armed nations to focus on AI, space
Bloomberg Beijing is calling on the world’s nuclear powers to expand discussions on global security to include emerging threats, following a rare multilateral pledge to temper the risks of nuclear war. Fu Cong, director-general of the Chinese Foreign Ministry’s Arms Control Department, told reporters in Beijing on Tuesday that the so-called P5 nations — China, France, Russia, the US ...
Read More »UN envoy says Sudan needs new leaders to usher in democracy
Bloomberg Sudan’s army is incapable of running the impoverished country and new leaders are needed to stem further unrest, the United Nations special envoy said, after the prime minister’s Sunday resignation once again left the military in sole charge. The generals, who launched a coup in October before restoring Premier Abdalla Hamdok to office the following month, are unable ...
Read More »Ivanka Trump, Donald Trump Jr subpoenaed in asset probe
Bloomberg Former President Donald Trump’s two eldest children have been subpoenaed by New York authorities probing whether his real-estate business manipulated the value of key assets for tax and insurance purposes. Ivanka Trump and Donald Trump Jr., longtime business associates of their father, filed a joint motion in New York state court to block the subpoenas, accusing New York ...
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