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Governments around the world put out consultation papers all the time. But only in China can one vaguely worded, 22-page document on antitrust regulations ignite a $290 billion equity selloff. As investors nurse their wounds, they want to know, why is China regulating Big Tech now? And what exactly does Beijing want? Emerging out of the Covid-19 recession, China got ...

Bloomberg President Donald Trump’s appointment of Christopher Miller, a former Green Beret and White House counterterrorism coordinator, as acting defense secretary raises “two layers of fear,” the head of the House Armed Services panel said. The first is the “incredibly steep learning curve” on global military operations, options and controversies that Miller faces after Trump’s dismissal-by-tweet of Mark Esper as ...

Bloomberg British Airways parent IAG SA will modify the ownership of its Spanish units as required to comply with European Union rules before the Brexit transition period ends, Spain’s second-ranked transport minister said. London-based IAG has committed to changing the share structure of Iberia, Iberia Express and Vueling by the end of 2020, “making clearer” their control by EU-based investors, ...

Bloomberg Target Corp this month discontinued its subscription service model as shoppers increasingly look for more convenient and flexible delivery options. “The majority of our subscription guests have shifted away from regular deliveries to enjoy the speed and flexibility of our same-day services,” said spokeswoman Jacqueline DeBuse. The company didn’t disclose how much revenue it generated with subscriptions. It’s quite ...

Bloomberg JetBlue Airways Corp is joining rivals in opening all previously blocked seats, citing increased evidence that cabins are safer from the spread of coronavirus even as US caseloads surge. The airline will make all seats available for sale starting from January 8, JetBlue President Joanna Geraghty said in a memo to employees. The decision follows a similar move by ...

Bloomberg Mytheresa.com, the luxury online retailer specialising in women’s clothing, is planning a US listing in early 2021, people with knowledge of the matter said. The fast-growing German e-commerce company is working with advisers on preparations for a potential initial public offering, according to the people, who asked not to be identified because the information is private. It plans to ...

Bloomberg Singapore Airlines Ltd plans to raise as much as S$850 million ($630 million) via the sale of convertible bonds as it seeks to increase liquidity amid a pandemic that’s wiped out travel demand. The funds will be used for operating cash flow, to service debt and for capital expenditure, Singapore’s flagship carrier said in an exchange filing. The pricing ...

Bloomberg Ford Motor Co, playing catch-up to Tesla Inc in electric cars, is rolling out a battery-powered cargo van to lay claim to a new segment of the commercial fleet market that its gas-powered vehicles dominate. Chief Executive Officer Jim Farley unveiled an electric version of its Transit model, the ubiquitous airport shuttle, delivery and service van that is the ...

Bloomberg Walmart Inc is about to team up with Cruise LLC, the self- driving car unit majority-owned by General Motors Co, to experiment with delivering customer orders using driverless vehicles. Cruise’s robot-piloted cars will ferry orders to customers’ homes from a Walmart store in Scottsdale, Arizona, starting early next year, Tom Ward, the retailer’s senior vice president of customer product, ...

Bloomberg Spotify Technology SA agreed to acquire Megaphone, which creates tools for podcast advertisers, in a deal that values the acquisition at $235 million. Founded by online news company Slate, Megaphone connects podcast publishers such as Vox and ESPN with networks of advertisers. Spotify will use Megaphone’s network and tools to offer advertising technology to thousands of podcasts. After building ...