Fortis’ News of the Week:
- For the second year in a row, New York City has claimed the title of world’s most congested urban area. It’s estimated to incur $9.1B in lost time.
- Target drops its threshold for stopping shoplifters from $100 to $50 as theft has affected profit margins at nearly 2,000 US stores.
- The EU has charged Microsoft for bundling Teams with Office, which breaks competition law. Did the EU wait too long to press charges though?
- Moody’s analytics team predicts that there will be a permanent reduction of 15%-20% in office space due to WFH and hybrid working models.
- As part of their efforts to tighten up on safety, Boeing has agreed to buy Spirit Aerosystems – one of its major suppliers and manufacturing partners.
