Korean Air's Quarterly Profit Defies Coronavirus Travel Slump
Thursday, 6 August 2020 (Bloomberg) — Korean Air Lines Co. provided some rare positive news for the devastated global aviation industry Thursday, reporting a quarterly profit after flying planes loaded with products from South Korean technology giants to homebound consumers around the world. The carrier’s operating profit was 148.5 billion won ($125 million) for the April-June period. Cargo sales climbed 95% from a year earlier to 1.23 trillion won. Asiana Airlines Inc. could follow...
Japan's Nintendo Co Ltd on Thursday reported a more than five-fold jump in quarterly profit, driven by breakout demand for its Switch device and hit title "Animal Crossing: New Horizons" as the coronavirus lockdown lifts the games industry. Francis Maguire reports.
The Federal Reserve is targeting above 2% inflation. Scott Minerd, Guggenheim global CIO told Bloomberg on Wednesday it is "virtually impossible" for the Fed to achieve that without creating a bubble in asset prices. "The reality is that the inefficiencies that are building up in the system." Minerd said misinformation and mistaken investments will pose a challenge to investors.
In order to give its employees a major sense of relief, Apple has decided to design its own face masks and the company will distribute it to its retail and corporate employees. Most of the employees of Apple wear masks on the job as a precautionary measure against the coronavirus, and as a result, Apple has decided to come up with its own masks, Mashable cited a Bloomberg report. As per this report, Apple is providing two face masks to each of its employees. One mask is called "ClearMask" and it has been sourced from other companies. The other mask is known as "Apple Face Mask" has been created by Apple's Engineering and Industrial Design teams. This particular mask has up to three layers that filter incoming and outgoing particles, and it can be washed and reused up to five times," Mashable cited a Bloomberg report. The company will now start sending Apple Face Masks to its employees over the next two weeks.
ByteDance is likely to miss the deadline imposed by the Trump administration for the sale of TikTok's U.S. assets as new Chinese regulations have complicated deal talks, Bloomberg reported on Thursday. Ciara Lee reports
The stock market is poised for another ten-year bull run. That's according to Brian Belski of BMO Capital Markets. Belski told Bloomberg that the stock market's low on March 23 was the "control alt delete" reset button for the next 10-year bull run. It will be the second half of a 20-year secular bull market. He cautioned investors to not play the same strategy that they did following the 2008 financial crisis.
When she first met a mysterious man who introduced himself as Dr Seong, a South Korea spy, the woman thought she had found a father figure to help her start a new life after fleeing from her home in North Korea. But things went bad when Seong and a colleague began to sexually abuse her. Olivia Chan reports.
Dominic Raab has met with South Korea's foreign ministers in Seoul to discussvarious global issues, including Covid-19, climate change and securitythreats. Mr Raab plans to visit the demilitarised zone between North and SouthKorea during his trip. It comes as South Korea reported 50 new coronaviruscases on Monday, the lowest since an outbreak emerged last month.
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