Porsche Rises in Landmark IPO Weathering Tough Markets

Porsche’s listing is a bold move into public markets, which have been largely shut to IPOs for most of the year, with companies shying away from seeking new listings because of the European energy crisis, rising interest rates and record inflation. The sale will help Volkswagen raise funds to plow into its electrification push, while … Read more

This Is What Life’s Like in the World’s Strictest Covid Zero City

Seven times since last March, Ruili—on China’s Myanmar border—has felt the full force of Xi Jinping’s Covid Zero policy.

China’s Chengdu Lifts Lockdown of Whole City From Monday

The capital of Sichuan province, Chengdu is the biggest city to have shut since Shanghai’s bruising two-month lockdown earlier this year. The lockdown in Chengdu followed that of Shenzhen and Zhengzhou, which deployed seven-day citywide restrictions. Strict, quick action to stamp out Covid is key to China’s zero-tolerance approach to the virus, which President Xi … Read more

The Affordable Electric Vehicle Is Still Mostly Fantasy

(Bloomberg) — Jack Norton, a history professor in Minneapolis, started shopping for an electric vehicle early last year. His requirements were simple: all-wheel drive and a price tag under $55,000. At first, Norton noticed that few EVs were being shipped to Minnesota, where car companies are contending with looser emissions mandates than in much of … Read more

Disney Pulls Star Wars Film ‘Rogue Squadron’ From 2023 Release Calendar

The picture is one of two the company removed from its schedule next year, according to a statement Thursday. The other was an untitled live-action movie. Disney added one film, “Next Goal Wins,” from its smaller Searchlight label. Another picture, “Haunted Mansion,” was delayed until Aug. 11 from its original March 10 release date. 

Amazon Sellers See ‘Scary’ Holiday Season as Consumers Pull Back

The effects are rippling from sellers to firms that support them, including small business lenders. Amazon merchants commonly borrow about $100,000 to buy inventory and pay for marketing campaigns during the holidays, paying the loans off with their proceeds. Seth Broman, chief revenue officer of Swiftline, which offers loans to online merchants, is turning down … Read more

Homes Sell Below List Price in US for First Time Since March 2021

The shift is largely because of surging mortgage rates, which have dented affordability and kept many would-be buyers on the sidelines, forcing sellers to accept lower prices. The average sale-to-list price ratio fell to 99.8% in the four-week period ended Aug. 28. It hasn’t been below 100% since March 2021, Redfin said.

SpiceJet in Talks to Raise $200 Million to Ease Finance Woes

Even as forecasts for India’s aviation sector look brighter with local traffic surging 94% in July, SpiceJet, which has slipped from No. 2 to No. 5 in the rankings, may find it difficult to make a comeback. Jet Airways India Ltd. is planning to resume flying by September and Air India Ltd. is headed for … Read more

Good Luck Finding a Seat in That Fancy Airport Lounge

(Bloomberg Businessweek) — The All Nippon Airways lounge at Tokyo’s Narita International Airport was once an uncrowded refuge of calm for business travelers, favored for such perks as free made-to-order noodles, a private shower, and comfy chairs with views of the tarmac and planes taxiing. But on a recent Tuesday afternoon while connecting flights at … Read more