Bloomberg Business

China Intensifies Russia Military Drills Amid US Sanctions

President Xi Jinping has resisted crossing Washington’s red lines over arming Russia’s war machine in Ukraine. But that hasn’t stopped China edging closer to Moscow’s military in another way: direct engagement.

Ola Advances Plan for IPO as Electric Scooters Take Off in India

Ola Electric Mobility Pvt. is in line for an initial public offering sooner than its founder previously imagined, reflecting the Indian startup’s whirlwind pace of growth since it started selling electric scooters in late 2021.

Deadly Storms Across US Northeast Bring Floods, Tornado Alerts

A cluster of severe thunderstorms pounded the US Northeast including New York City on Sunday, unleashing deadly flooding in Pennsylvania, halting operations at several airports, and prompting tornado watches across New England.

Sanctioned Chinese Military Giant’s US Business Keeps Growing

Cirrus Aircraft Ltd. is proud of its history in the US heartland: the private plane maker’s website includes details such as the company’s 1984 launch in a Wisconsin barn, the opening of a Minnesota R&D center and a North Dakota factory.

Tanker Arrives in Yemen to Start Risky Oil Pumping Operation

A United Nations oil tanker arrived in Yemen on Sunday to begin the risky operation of pumping over a million barrels of crude oil from a decaying tanker in danger of exploding and causing an environmental disaster.

UPS Union Asks Biden Not to Intervene in Case of Strike

United Parcel Service Inc.’s union president called on workers to be prepared for a strike as the Teamsters push for higher part-time wages, the last major sticking point for renewing a five-year labor agreement that expires on July 31, and said he asked the White House not to intervene in case of a walkout.

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