Recycling isn’t dead at all. It’s booming in US

Recycling is “dead,” say the obituaries. And if it’s not dead it’s “broken,” “not working,” “in the bin,” “failing,” a “charade,” “a lie,” and of course “too good to be true.” This gloomy narrative has gained momentum over the past three years as cities struggled to find places to send the stuff that people toss in their blue bins. Some ...

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Lifting corporate taxes may end up cutting them

Governments wanting to stop big businesses from shifting profits to low-tax jurisdictions have a carrot and a stick at their disposal. The stick involves regulating practices such as corporate inversion, aggressive transfer pricing and license royalties so that tax avoidance is effectively outlawed. The carrot involves lowering your own tax rates so that the advantages of moving profits offshore disappear. ...

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Garuda plans restructuring, operating fleet may get halved

Bloomberg PT Garuda Indonesia needs to completely restructure its business, potentially reducing the number of planes it operates to less than half its main fleet as it seeks to survive the crisis wrought by the pandemic, its president told staff this week. “We have to go through a comprehensive restructuring, a total one,” President Director Irfan Setiaputra said in an ...

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Italy close to deal with EU on new Alitalia

Bloomberg Italy is nearing a deal with the European Union to set up a new national carrier from failed airline Alitalia SpA and may get an informal go-ahead by next week, newspaper Il Messaggero reported. Talks with the European Commission to green-light Alitalia’s planned restart have been mired in a standstill after several rounds of meetings. EU officials are demanding ...

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Top Airbus A320neo customer hands GE major engine order

Bloomberg The biggest customer for Airbus SE’s top-selling A320 narrow-body has chosen General Electric Co engines for a massive order, after pitting the conglomerate against its dominant US supplier, Pratt & Whitney. IndiGo, India’s largest airline, has selected CFM International Inc, a venture between GE and France’s Safran SA, to supply LEAP-1A engines for its fleet of 310 new Airbus ...

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UK families are ignoring travel ban: Ryanair CEO

Bloomberg Britons are ignoring government advice to avoid traveling to countries on the UK’s Covid-19 “amber” list, the Mail cited Michael O’Leary, the chief executive of Ryanair Holdings Plc, as saying. Families are booking flights to restricted destinations in anticipation of a relaxation of the guidance once they come to take their vacations, O’Leary said in an interview, according to ...

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Zara stores to close in Venezuela as Inditex brands exit

Bloomberg The franchise operator of Zara and two other popular apparel chains will close all of its stores in Venezuela in the next few weeks. Zara, along with Pull&Bear and Bershka, are owned by Spain’s Inditex SA and have been operating as franchises in Venezuela since 2007. The franchise is managed by Panamanian-based company Phoenix World Trade, run by Camilo ...

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Instacart expands deal with 7-Eleven

Bloomberg Instacart Inc is expanding its delivery partnership with 7-Eleven Inc in a bid to capture share of a fast-growing convenience store market dominated by DoorDash. The San Francisco-based company is adding 4,000 7-Eleven locations, bringing the total to 6,000 stores in 33 states and Washington, and pledges to get deliveries to customers in as little as 30 minutes. Instacart ...

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Belarus military forces Ryanair jet landing as reporter arrested

Bloomberg Belarus scrambled a fighter jet to force a Ryanair flight from Greece to Lithuania to land in its territory, where authorities detained a journalist who covered the 2020 presidential election and protests against Alexander Lukashenko’s disputed claim of victory. The crew of the Boeing 737-800 carrying scores of passengers from Athens to Vilnius was notified by Belarusian authorities of ...

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China’s top diplomat to visit Russia for 16th strategic talks

Bloomberg China’s top diplomat, Yang Jiechi, will visit Russia for the 16th strategic and security consultation between the two countries starting from Monday, the Chinese Ministry of Foreign Affairs said on Sunday. Yang, director of the Communist Party’s central committee for foreign affairs who sits on the 25-member Politburo, will also visit Slovenia and Croatia, ministry spokesperson Zhao Lijian said ...

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