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Tesla finally notched a billion-dollar quarter where it counts: the bottom line. Net income for the second quarter was $1.1 billion, stretching to 10 figures for the first time ever. Is it enough that Elon Musk can, as he hinted on call, step back from future earnings calls? Musk dropped that mini bombshell as an aside, as he is wont ...

India’s biggest-ever initial public offering can’t be chalked up solely to the zeitgeist. Like most markets, irrational exuberance and easy money will no doubt play a part in Paytm’s upcoming $2.2 billion share sale. But above all, investors will be placing bets on what a 12-year-old, unprofitable fintech firm backed by SoftBank Group Corp and Ant Group Co could yet ...

How is Donald Trump, six months out of office, able to wield so much influence within the Republican Party? A man who was solidly defeated for re-election; who was unpopular throughout his four years in office and ended those years at a low point; who subsequently, in his second impeachment trial, was condemned by numerous senators from his own party; ...

Bloomberg Ryanair Holdings Plc intends to pump more capacity into European markets in the coming months, keeping ticket prices low so it can overpower weaker rivals as travel rebounds in Europe. The region’s biggest low-cost carrier said that it expects to post a profit this quarter, even as it prioritises filling planes until demand fully rebounds. The summer high season ...

Bloomberg South Africa’s Mango Airlines will enter a local form of bankruptcy protection, according to the head of its parent, South African Airways (SAA). There’s agreement between shareholders and the board on the matter, and Mango is consulting with labour groups, SAA interim Chief Executive Officer Thomas Kgokolo told eNCA television. Mango employees were seeking to force the low-cost carrier ...

Bloomberg American Airlines Group Inc and Southwest Airlines Co are carrying extra jet fuel on some flights and considering adding stops to other routes to pick up fuel as snarls in US trucking and supply chains delay deliveries to small and mid-sized airports across the country. The delays are expected to continue through mid-August, American told its pilots in a ...

Bloomberg Sales of Louis Vuitton handbags and the easing of lockdowns across the world helped revenue soar at luxury fashion house LVMH. In a stellar quarter for the owner of some of the world’s best-known brands, like-for-like sales rose 84% in the three months through June, ahead of analyst expectations. Much of the gain was fuelled by “remarkable” demand for ...

Bloomberg Major airports in Europe are asking investors for a break from debt obligations for the second time since the height of the coronavirus pandemic. London Heathrow Airport, the UK’s busiest hub, said it secured support for a new round of waivers on covenants applying to $1.6 billion of bonds after some of the terms agreed last year expired. Holders ...

Bloomberg North Korea’s Kim Jong Un and South Korea’s Moon Jae-in agreed in letters to restore relations, improving the prospects for a breakthrough in an extended stalemate in nuclear talks. The two countries released what appeared to be coordinated statements on Tuesday calling for reconciliation on the peninsula, with state media in Pyongyang saying they agreed “to make a big ...

Bloomberg The Biden administration has asked Congress for $1 billion to bring Afghans who helped American forces during the two-decade war in their country to the US, and there is bipartisan support to provide the money, according to people familiar with the matter. The money would be included in an emergency measure chiefly intended to provide heightened security on Capitol ...