Delays, Cancellations & Strike Threats Lead to Unhappy Holidays for Thousands

Text size Airlines have faced another turbulent holiday weekend AFP via Getty Images US travelers were braced for a third day of chaos over the Fourth of July holiday weekend as airlines continue to struggle with a surge in demand over one of the busiest periods of the year. On Monday, airlines had canceled 173 … Read more

Dow jumps 600 points as market comeback this week gains steam

Stocks jumped Friday as Wall Street looked to grind out a rare positive week in what has been a rough first half of the year. The Dow Jones Industrial Average rose 652 points, or 2.1%. The S&P 500 were 2.4% higher, while the Nasdaq Composite advanced 2.5%. Major averages hit their highs of the session … Read more

Mondelēz International CEO sees more growth and acceleration for snacking portfolio amid inflation

Speaking at the Deutsche Bank Global Consumer Conference this week, Van de Put said how when he took over in 2017 there was an immediate opportunity to improve margins. To get there, Mondelēz offloaded some parts of its portfolio — most recently a proposed plan to sell its gum and mint business — and instead … Read more

Apple supply chain recovery from China Covid vs Android

Apple opened its 54th flagship store in Greater China in the city of Wuhan in May. The iPhone company warned in late April that supply chain disruptions from China’s Covid controls would likely hurt sales in the current quarter by $4 billion to $8 billion. Sopa Images | Lightrocket | Getty Images BEIJING — Apple’s … Read more

China tries to shake off the worst of the pandemic

A handful of tourists visit the normally packed Yuyuan Garden during the Dragon Boat Festival holiday on June 4, 2022, in Shanghai, where authorities are allowed a return to normal life and business activity. Vcg | Visual China Group | Getty Images BEIJING — China is starting to show signs of recovery from the latest … Read more

China faces a nearly $1 trillion funding gap. It will need more debt to fill it.

During the first four months of the year, investment in real estate development fell by 2.7% from a year ago. Pictured here is a project in Qingzhou, Shandong province, on May 15, 2022. CFOTO | Future Publishing | Getty Images BEIJING — The Chinese government faces a growing shortfall of cash, analysts say, as they … Read more

Alibaba, Tencent and post slowest revenue growth on record

Alibaba, whose headquarters are pictured here on May 26, said its online physical goods GMV in China, excluding unpaid orders, fell further in April, with a “low teens” decline from a year ago. Str | Afp | Getty Images BEIJING — Chinese tech giants Alibaba, Tencent and have all posted their slowest revenue growth … Read more

China holds an unprecedented massive videoconference on the economy

Chinese Premier Li Keqiang, also a member of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee, addressed multiple levels of government during a meeting Wednesday. In this picture, Li chairs a symposium on stabilizing growth, held in southwest China’s Yunnan Province, May 18, 2022. Xinhua News Agency | … Read more

Goldman Sachs expects more China real estate defaults, switches to bear case

Real estate and related industries account for more than a quarter of China’s economy, according to Moody’s estimates. CFOTO | Future Publishing | Getty Images BEIJING — Chinese real estate defaults have increased so much that Goldman Sachs analysts scenario have shifted to their worst-case for the riskiest part of the market. Twenty-two China high-yield … Read more

Covid Restrictions Aren’t the Only Headache for US Firms in China

Text size American businesses in China cited a range of issues that challenge their business, according to a new survey. Here: cargo containers stacked at a port in Lianyungang in China’s eastern Jiangsu province. AFP via Getty Images Although Covid-19 restrictions remain the overwhelming burden to American businesses in China, a range of other obstacles … Read more