Bloomberg News

Here’s what happens to markets If U.S. tariffs on China kick in 15 Dec.

BLOOMBERG – President Donald Trump’s latest missives on trade are a wake-up call to markets close to record highs that a major deadline is looming with China. The Dec. 15 flashpoint on tariffs was thrown into sharp relief Tuesday when Trump said he sees no urgency to complete a deal, right after he threatened an assortment […]

Cyber Monday shoppers are expected to spend record $9.4 billion

U.S. shoppers are on track to spend an estimated $9.4 billion on Cyber Monday – a record – boosting an already robust holiday shopping season. Consumers had dropped $473 million online as of 9 a.m. New York time, on track for an almost 19% increase over last year, according to Adobe Inc. The firm said […]

Alibaba seals $38 billion Singles’ Day sales record

Alibaba Group Holding Ltd. logged more than 268 billion yuan ($38.3 billion) of purchases during its Singles’ Day bonanza, exceeding last year’s record haul after a 24-hour shopping marathon.An estimated half-billion shoppers from China to Russia and Argentina swarmed the e-commerce giant’s sites to scoop up everything from Apple Inc. and Xiaomi Corp. gadgets to […]

UPS drops as heir apparent’s sudden exit rattles Wall Street

(Bloomberg) — United Parcel Service Inc. fell as the sudden retirement of Chief Operating Officer Jim Barber stoked leadership uncertainty midway through the company’s pricey revamp to handle surging e-commerce. Barber, 59, who helped lead growth in Europe and Asia during his 35 years with UPS, will retire at the end of December, UPS said […]

Boeing CEO, removed as chairman, near last chance on 737 MAX

(Bloomberg) – The clock is ticking ever more loudly for Boeing Co. Chief Executive Officer Dennis Muilenburg as the grounding of the 737 MAX hits the seven-month mark. The board removed him as chairman Oct. 11 after the close of the workweek, saying the change would enable Muilenburg to focus on returning Boeing’s best-selling jet […]

France lashes out at Dutch in feud over Air France-KLM holdings

(Bloomberg) — The Netherlands has created an imbalance in the governance of Air France-KLM, a French government representative said, signaling a power struggle between the carrier’s two biggest shareholders remains unresolved. The Dutch government needs to treat the airline like a normal listed company and choose between holding a stake in the group or in the […]

Anti-drone powers are urgently needed at airports, task force says

(Bloomberg) — A task force looking into ways to prevent small drones from disrupting commercial airports is urging federal officials to issue promised regulations, saying that there isn’t proper funding and legal authority to tackle the problem. “We have to really push this and get it done quickly,” said Kevin Burke, president of the Airports Council […]

Beijing’s giant new airport helps China rival US in the skies

(Bloomberg) — Just five years ago, Daxing was a dusty area of farmland to the south of Beijing, largely neglected by visitors to the city. That’s no longer the case, now that an enormous airport has emerged there to thrust China even closer to toppling the U.S. as the world’s biggest aviation market. Beijing Daxing […]

India’s SpiceJet targets cargo unit IPO amid e-commerce boom

(Bloomberg) — Indian budget carrier SpiceJet Ltd. plans to sell shares in its logistics business in an initial public offering, as the rise of e-commerce drives demand for fast shipping across the region. The one-year-old cargo division, known as SpiceXpress, could be listed on a stock exchange within 12 months, SpiceJet Chairman Ajay Singh said […]

FedEx pilot detained in China for item found in luggage

(Bloomberg) —A FedEx Corp. pilot was temporarily detained in southeastern China after authorities found hundreds of air-gun pellets in his luggage prior to boarding a commercial flight to Hong Kong, marking the delivery firm’s latest setback in the country. The pilot, who was held in the city of Guangzhou, was later released on bail and […]

Alphabet’s Wing plans drone drug-store deliveries within a month

(Bloomberg) —One of the nation’s largest drug store chains and a shipping service giant are joining forces, with Alphabet Inc.’s Wing to begin a first-of-its-kind drone delivery service in October. Walgreens, FedEx Corp. and Wing, an offshoot of Google that was the first U.S. drone operator to receive partial certification as an airline, will begin the exploratory […]

UPS CEO says growth is steady in Amazon age, even as FedEx reels

(Bloomberg) —Not that long ago, Wall Street fretted that tradition-bound United Parcel Service Inc. would lag nimble FedEx Corp., with its fully automated package-sorting hubs, in the race to cash in from surging shipments tied to e-commerce. It hasn’t turned out that way. A $20 billion investment spree detailed by UPS Chief Executive Officer David […]

British Airways set to enter day two of crippling pilot strike

A pilot strike at British Airways wiped out all but a handful of flights on Monday and is set to continue for a second day in the absence of talks between the union and management over a pay dispute. The unit of IAG SA is preparing to cancel almost all of its Tuesday timetable, amounting […]

FedEx ends ground-delivery deal with Amazon

FedEx Corp. is snipping another tie with Amazon.com Inc. as the e-commerce giant emerges as a competitor by building its own shipping network. The ground-delivery contract with Amazon won’t be renewed when it expires at the end of this month, FedEx said in a statement. The decision quickens the company’s retreat from the largest online […]
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