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.

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.

Soros Reloads on Big Tech With Amazon, Google and New Tesla Bet

George Soros, billionaire and founder of Soros Fund Management LLC, speaks at an event on day two of the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, May 24, 2022. The annual Davos gathering of political leaders, top executives and celebrities runs from May 22 to 26.

China Covid-19 Cases Top 2,000 as More Lockdowns Imposed

The southern province, a popular tourist destination, reported 1,426 cases. More than 1,230 of them were in the beach resort city of Sanya, where more restrictions were added on Thursday. Hainan’s authorities had aimed to eliminate community transmission by Aug. 12.