BUSINESS
Boeing’s 777 at risk of fuel-tank explosion as US urges fix
A proposed airworthiness directive from the US Federal Aviation Administration calls for operators to inspect the jets and install Teflon sleeves and cap fasteners to certain parts of the center, left and right main fuel tanks, according to the filing. The order would apply to 282 aircraft, the FAA said.
BUSINESS
China’s slowdown spills over to major economies through imports
Elevated global commodity prices meant that China’s official import growth of 1% in June from a year earlier hid a worse result for manufactured goods. Imports of hi-tech products and mechanical and electrical goods fell about 8% last month, according to recently released Chinese customs data.
BUSINESS
Tycoons line up bids for India’s $14 billion 5G airwaves auction
The airwaves sale could raise as much as 1.1 trillion rupees ($14 billion), according to a June estimate by local rating company ICRA Ltd.
BUSINESS
Joe Biden team’s take on ‘technical recession’: It’s not real
The administration’s message: what’s often called a “technical recession” isn’t necessarily a real one. At stake is winning a political-messaging battle with Republicans over how effective Biden’s policies have been in spurring a post-pandemic recovery.
BUSINESS
Shallow recession calls are ‘totally delusional,’ Nouriel Roubini warns
“There are many reasons why we are going to have a severe recession and a severe debt and financial crisis,” the chairman and chief executive officer of Roubini Macro Associates said on Bloomberg TV Monday. “The idea that this is going to be short and shallow is totally delusional.”
BUSINESS
Coinbase faces SEC probe over cryptocurrency listings
The US Securities and Exchange Commission’s scrutiny of Coinbase has increased since the platform expanded the number of tokens in which it offers trading, said two of the people, who asked not to be named because the inquiry hasn’t been disclosed publicly.
BUSINESS
Barclays to buy back up to $18 billion of wrongly sold notes
The bank said the repurchase period will start on Aug. 1 and will expire on Sept. 12, according to a statement Monday.
BUSINESS
Ex-Meta staffers raise $150 million for new crypto venture
According to a business announcement made on Monday, Aptos Labs, has raised $150 million in fresh capital.
BUSINESS
Porsche IPO, Tesla chase, software fix: What awaits VW’s new CEO
Diess’s aggressive strategies for EVs, software and new-mobility offerings set VW on a path the company’s billionaire owners praised even as they pushed him out of the CEO role.
BUSINESS
A 75-year-old Harvard Grad is propelling China's AI ambitions
One of the field’s most influential figures is Andrew Chi-Chih Yao, whose education and professional life have straddled the world’s two biggest economies.
BUSINESS
Battered Bitcoin devotees begin to contemplate a market bottom
Yet, given how intense the boom-and-bust cycles can be in the sector, many are also remaining cautious, unwilling to provide an all-clear sign given the mercurial nature of digital tokens -- even as they see signs emerging of Bitcoin having found a floor.
BUSINESS
China’s Gen Z is dejected, underemployed and slowing the economy
A perfect storm of factors has propelled unemployment among 16- to 24-year-old urbanites to a record 19.3%, more than twice the comparable rate in the US.
BUSINESS
Eutelsat’s $3 billion OneWeb deal is Emmanuel Macron’s satellite dream
Five months later, Macron could be getting his wish. Eutelsat Communications SA has launched a potentially $3 billion-plus takeover of satellite rival OneWeb Ltd.
BUSINESS
Billionaire Kotak’s brokerage eyes small-town peers for growth
Kotak Securities Ltd., a unit of billionaire Uday Kotak-controlled Kotak Mahindra Group, has onboarded four small brokerages into its platform and is in talks to add another 20, Jaideep Hansraj, chief executive officer of the company said in an interview.
COMMODITIES
Oil edges higher as traders weigh tight market, slowdown fears
The Federal Reserve is expected to approve another big interest-rate hike this week as the central bank combats surging inflation, piling pressure on demand
BUSINESS
Powell seen slowing Fed’s hikes after 75 basis points this week
Swap traders betting on Fed policy are now leaning toward a 50 basis-point hike in September as more likely than a 75 basis-point move, following weak US economic data earlier on Friday.
BUSINESS
Troubled crypto exchange Zipmex says it’s mulling possible offer
Asian cryptocurrency exchange Zipmex said it is in talks with interested parties and was considering a possible offer.
ENVIRONMENT
The hotel industry’s carbon lie
To date, few hotels that have made net-zero statements have released data supporting those claims.
TRENDS
Want to become a digital nomad? Try before you buy
More and more people want to work anywhere but the office. But getting beach sand in your laptop is not the only risk of untethering from the mothership.
BUSINESS
Tata says Port Talbot may close without £1.5 billion from government
Indian steel giant Tata Steel Ltd. may close sites including Port Talbot unless it receives £1.5 billion ($1.8 billion) in support from the UK government, the Financial Times reported.
BUSINESS
Sunil Mittal backed OneWeb said to near merger with Eutelsat
British satellite firm OneWeb is nearing a deal to combine with France’s Eutelsat Communications SA in a transaction that would create a pan-European operator that could better compete with Elon Musk’s Starlink project, according to people familiar with the matter.
WORLD
The Newest Hero in the Marvel Universe Is a Chef With a Food Truck
Marvel heroes wear capes. Now they also wear aprons.
BUSINESS
China Evergrande CEO, finance chief resign amid probe
Evergrande had been investigating how 13.4 billion yuan ($1.99 billion) of its deposits were used as security for pledge guarantees and seized by banks.
BUSINESS
Liz Truss vs Rishi Sunak: Where UK leadership contenders stand on economy
Liz Truss and Rishi Sunak, the final contenders in the race to lead the ruling Conservative Party and the nation, have sharply divergent views on how to handle the economy and public finances.
