Retailers Shut Stores Amid U.S. Protests: Live Business Updates

Unemployment Claims Show Further Economic Strain: Live Updates

Unemployment Claims Show Further Economic Strain: Live Updates

Unemployment Claims Show Further Economic Strain: Live Updates

China steps back in airline dispute one day after U.S. vowed retaliation.

The Chinese authorities on Thursday appeared to retreat partially from an escalating dispute with the United States over air travel between the two countries, announcing that foreign airlines would be allowed to operate one flight per week in Chinese cities.

The announcement, from China’s civil aviation regulator, followed the Trump administration’s announcement on Wednesday that it would block Chinese passenger airlines from flying into or out of the United States starting on June 16. That move was a response to a similar ban by the Chinese government on American carriers, which had further stoked tensions between the world’s two biggest economies.

Foreign airlines that were barred from operating in China during the pandemic — which includes all American airlines except those carrying cargo — will be allowed to choose one Chinese city from an approved list to operate one flight each week, beginning June 8, the announcement said. The pandemic and Chinese restrictions had effectively halted passenger trips to China by United Airlines, Delta Air Lines and American Airlines.

Davos won’t be the same next year.

The next gathering of the global elite at the World Economic Forum in Davos, Switzerland, will be a “twin summit” with a large virtual element running alongside a smaller in-person event, organizers said. The theme of the event, which runs from Jan. 26 to 29, will be “The Great Reset.”

Half as many delegates will attend in person as before, to allow for more social distancing. The goal is to distribute 1,200 to 1,500 of the coveted badges for official attendees, “with business, government and media representatives a first priority,” Adrian Monck, a managing director at the W.E.F., told DealBook. About 3,000 delegates — C.E.O.s, government leaders and a smattering of celebrities — attended the most recent forum, one of the last big events to be held before the pandemic.

Including support staff and side events, some 10,000 people descend on the Swiss ski resort every year. With fewer bigwigs at the official event and pandemic safety measures likely to still be in place, the crowds could be much smaller this time around. Brokers who rent out apartments and chalets for the week are reporting slower sales than usual.


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