Are Supersonic Passenger Jets Back? Not So Fast

(Bloomberg Opinion) — American Airlines Group Inc. just agreed to purchase 20 supersonic jets from Boom Supersonic that are designed to carry as many as 80 passengers. So, when will you be able to buy a ticket to fly at 1.7 times the speed of sound from New York to London and cut your travel … Read more

US Retail Sales Little Changed Last Month as Fuel, Autos Drop

Grocery store sales were up 0.2%, likely reflecting rising food prices rather than a significant uptick in purchasing activity. Data out last week showed the cost of groceries has surged 13.1% in the last year, the most since 1979. Sales at restaurants and bars, the only services’ component in the report, climbed 0.1%, the weakest … Read more

Amazon Accuses FTC of Harassing Bezos in ‘Burdensome’ Probe

In a filing made public on Monday, Amazon claimed that FTC staff have made “unduly burdensome” demands as the agency investigates whether the company’s subscription services, including Amazon Prime, violate consumer protection laws. The online retailer is seeking to quash or limit the FTC’s most recent civil investigative demands, which are similar to subpoenas.

Tesla Whipsaws After Stock Rallies 50% From Its May Bottom

While Tesla investors have been through a tumultuous 2022, with the company tackling several challenges, the shares have been recovering at a torrid pace. They posted a 32% gain in July for Tesla’s best month since October, as resilient second-quarter results, a climate change bill from the Biden administration and an overall cautiously optimistic mood … Read more

Ratan Tata, 84, Backs Startup That Spells Off Senior Loneliness

Even a small check from Ratan Tata is considered a badge of honor among the country’s fraternity of entrepreneurs. Naidu, a design engineer and an MBA from Cornell University, the alma mater of Ratan Tata, connected with Tata when he sought funding for his first startup, Motopaws, a social enterprise that provided reflective collars for … Read more

Ola Founder Plans to Produce Made-in-India Electric Car By 2024

(Bloomberg) — Bhavish Aggarwal, who founded India’s top ride-hailing startup and then moved into manufacturing electric scooters, is expanding his business empire again, unveiling plans Monday to enter the electric-car market in competition with local giants like Tata Group and global automakers from Hyundai Motor Co. two Tesla Inc.

PBOC Surprise Suggests China’s Outlook Is Truly Dire

(Bloomberg Opinion) — China’s faltering economy requires a lifeline from the central bank, regardless of admonitions that inflation is creeping higher and needs to be contained. With growth struggling and demand for credit cratering, the People’s Bank of China has made it clear that it’s the recovery first. Price increases might be worrying, but are … Read more

China Shocks With Rate Cut as Data Show ‘Alarming’ Slowdown

So far, policy makers have refrained from a large-scale bailout for property developers and repeated hawkish language against speculation in the sector. Liu Peiqian, chief China economist at NatWest Group Plc, said “more substantial easing on the property sector” and a relaxing Covid policies were needed to improve sentiment.

UK Inflation Shock Is Within Whisker of Double Digits: Eco Week

Rampant inflation may be showing some signs of slowing in the US, but the surge in the UK looks to have further to run.