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President-elect Joe Biden’s pledge to rejoin the Paris climate agreement sends an important signal to the world about US leadership. But the action will merely take us back to four years ago. To push us forward, on his first day in office, President Biden should bring together a group of G-20 leaders to join the US in endorsing a mandatory ...

Activist investing is hard work, even for tenacious veterans like Elliott Management Corp. The very mention of its name sends shivers up the spines of corporate fat cats. Yet, until recently, the US-based hedge fund hasn’t been able to scare up much success in Asia. Elliott has been in the region for years, picking battles with Korean chaebols and Hong ...

The impact of the housing market on the 2008 financial crisis couldn’t have been more different than what we’ve seen during this year’s recession. While housing acted as a strong headwind slowing the economic recovery 12 years ago, not it’s looking like a tailwind that will help lift the economy as we move past the pandemic in 2021. The damage ...

Angela Merkel has done it again: She’s “merkeled.” In German, that neologism means to hedge, delay, dilute and fudge — as the eponymous German chancellor is wont to do. There’s much to be said for this elastic style of politics, especially in the labyrinthine European Union. Merkel’s latest fudge, however, will weaken and undermine the bloc, and tarnish her legacy. ...

Bloomberg The Nordic region’s pace-setting push into green transport is set to extend from cars to the air-travel market. Iceland this month signalled plans to move towards carbon-free domestic flights by the end of the decade, while Sweden’s Heart Aerospace aims to deliver an electric plane specifically designed to ply routes linking remote Scandinavian settlements within six years. Coordinating the ...

Bloomberg British Airways will work with hydrogen plane startup ZeroAvia to speed the switch to hydrogen power for commercial aircraft. The partnership was announced, as the head of parent IAG SA prepared to outline the group’s plan to reach net-zero emissions at a United Nations climate summit. The legacy airline will work with the startup, which has already demonstrated a ...

Bloomberg Nestle’s organic sales should grow this year on average at roughly the same pace as last year, according to Chief Executive Officer Mark Schneider. The world’s largest food maker generates some 90% of its revenue from in-home consumption, which has benefited from lockdown and social-distancing measures, Schneider said on Swiss television program Bilanz Standpunkte on SRF 1. On the ...

Bloomberg China’s antitrust watchdog fined Alibaba Group Holding Ltd and a Tencent Holdings Ltd unit over a pair of years-old acquisitions and said it’s reviewing an impending Tencent-led merger, signalling Beijing’s intention to tighten oversight of internet sector deals. The State Administration for Market Regulation said it’s reviewing the combination of DouYu International Holdings Ltd with Huya Inc, which could ...

Bloomberg Lululemon Athletica Inc — whose founder once body-shamed women on live television — is finding that offering larger sizes can pay off. Sales of women’s garments rose 22% last quarter, reaching pre-pandemic growth levels, the company said on a call with investors after reporting third-quarter results that beat estimates. Executives didn’t specifically attribute the surge to the more inclusive ...

Bloomberg The board of Rolls-Royce Holdings Plc has begun the process of identifying a successor to Chairman Ian Davis, Sky News reported. The search is at a very early stage and an appointment is unlikely to be announced until well into next year, it said, without revealing where it got the information. Davis joined the British jet-engine maker in 2013. ...