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In the last five years, imports from HK have more than tripled — from $5.6 billion in FY15 to $17.1 billion in FY20. In the same period, exports declined by 20 per cent – from $13.6 billion in FY15 to $10.8 billion (annualised) in FY20. Hong Kong has emerged a beneficiary of the India-China conflict, with Indian importers increasingly sourcing […] If a world leader in science and technology can’t convince its citizenry to wear face masks amid a raging pandemic, that’s a problem. Such is the reality that America faces as a highly transmissible virus runs riot ahead of Independence Day celebrations. With the nation setting ever higher one-day records for infections, public health experts worry that not enough Americans […] On Wednesday, California Governor Gavin Newsom announced he was shutting down dine-in service in local restaurants, as well as indoor operations at movie theaters, indoor family entertainment businesses, card rooms and zoos. Over the weekend, Newsom ordered bars and nightclubs closed. On Monday, he also announced a “strike team” of state enforcement agencies that would fan out and ensure compliance. […] America’s priciest apartment-rental market suddenly has more bargains. Rents for a San Francisco one-bedroom apartment have dropped about 12% from this time last year, a record monthly decline for the city, according to a report from listing site Zumper. Silicon Valley hubs such as Mountain View and Palo Alto also saw rents plunge — a sign residents of the tech-heavy […] PG&E Corp. didn’t dispute the basic facts in a county prosecutor’s report that found it squarely at fault for the deadliest corporate crime in U.S. history, but took exception to being condemned for a “callous disregard” for safety. PG&E was ordered by the federal judge overseeing its probation to identify any false statements in the 105-page report, which describes in […] As Hollywood and major league sports’ restarting looks to be stymied by soaring coronavirus cases, some of the biggest players in the arena want Mitch McConnell and Nancy Pelosi to change the rules of the game in their favor. “Whether it be professional and collegiate sporting events, the next must-see film, a bingeworthy TV series, or a marquee Broadway production, […] Richard Branson is to inject £200m into Virgin Atlantic to help it survive the devastating effect of coronavirus on air travel, as part of a rescue package of up to £900m, put together months after the airline sought a taxpayer-funded bailout. Branson will transfer the money from his Virgin Group into the airline, funding the transaction with the proceeds from […] In Texas, one of the few states without an income tax, more than half the government’s revenue comes from its cut of what residents spend in stores, restaurants and bars. But with the coronavirus raging, bars shuttered and nearly 2 million residents out of work, the state’s sales-tax revenue is tumbling, leaving the government poised to draw down the savings […] New York City will delay the return of indoor dining, which had been planned for July 6, as other states experience a spike in Covid-19 cases after reopening their restaurants and bars, Mayor Bill de Blasio said Wednesday. The decision was made with the state, he said. “It is not the time to forge ahead with indoor dining,” de Blasio […] Hammerson and British Land collected only a fraction of their rents due last month as retailers struggled despite the easing of the coronavirus lockdown in the UK. Hammerson, the landlord that owns the Bullring in Birmingham and the Brent Cross shopping centre in north London, said it had collected just 16% of rent due in May and June, and had […]
Guess who’s benefited from India-China conflict? Hong Kong
Life, Liberty and Face Masks: A Virus Preys On a Divided America
Los Angeles Coronavirus Update: Mayor Eric Garcetti Targeting Businesses Violations Saying, “We Will Not Hesitate To Shut You Down”
Tech’s Embrace of Remote Work Sends San Francisco Rents Plunging
PG&E Clashes With Prosecutor on ‘Callous Disregard’ for Safety
Nervous NFL, NASCAR, Hollywood Studios & Unions Push For “Pandemic Risk Insurance” From Congress
Richard Branson to pump £200m into Virgin Atlantic as part of rescue package
Texas Virus Surge Deals State a Hit With Sales Taxes Plunging
NYC Delays Indoor Dining With Virus Cases Soaring Elsewhere
Commercial landlords squeezed as retailers in UK struggle with rent