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The Truth Wire

The Truth Wire

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China is evidence of the world’s pent-up travel demand
February 2, 2021
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China is evidence of the world’s pent-up travel demand

The coronavirus pandemic has crippled the travel industry. But demand travel? That’s alive and well. Just look at China, where COVID-19 outbreaks are largely under control. As of September, the number of air passengers traveling within China had equaled the total for all of last year. That’s because of a surge in domestic travel since... Read More
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Southwest Airlines warns nearly 13% of workforce at risk of layoffs after punishing year for travel
January 13, 2021
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Southwest Airlines warns nearly 13% of workforce at risk of layoffs after punishing year for travel

Southwest Airlines Co. dramatically expanded its furlough warnings, telling employees that 6,828 jobs are at risk as to the company and its labor unions have failed so far to agree on how to cut $500 million in costs. Pilots, flight attendants, baggage handlers, and other workers got notices Thursday that they may be furloughed, Southwest... Read More
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Snowflake CEO collects a $95 million payout every month
January 9, 2021
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Snowflake Inc CEO collects a $95 million payout every month

Snowflake Inc is doing well by any stretch of the imagination. On Wednesday, the cloud-computing company reported that third-quarter revenue more than doubled from a year earlier, and its stock has surged 183% to $339.89 since its Sept. 15 initial public offering. That has helped make Chief Executive Officer Frank Slootman one of the best-paid... Read More
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Apple Pay limitations spark Dutch antitrust probe
January 4, 2021
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Apple Pay limitations spark Dutch antitrust probe

The Dutch competition regulator has opened an investigation into Dutch antitrust probe contactless payments on smartphones, arguing that some systems could stifle innovation in the payments market. There’s no named target for the probe, as per the watchdog’s usual procedures, but the release suggests Apple and its iPhones are the focus. Banks and financial technology... Read More
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The EU’s biggest oil producer will end extraction by 2050—and exploration is canceled as of now
December 30, 2020
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The EU’s biggest oil producer will end extraction by 2050

Denmark has become the EU’s biggest oil producer so far to set a finite deadline for ending oil and gas extraction, in an effort to meet some of the world’s most ambitious climate targets. While Denmark is known for its low-carbon offshore wind networks and its bicycle lanes, it is the largest oil and gas... Read More
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FiscalNote raises $160 million to help companies track government legislation
December 26, 2020
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FiscalNote raises $160 million to help companies track government legislation

A wave of populism has led many governments around the world to rule in an increasingly erratic fashion. This phenomenon has been challenging for citizens and businesses, but it has proved a boon for a company called FiscalNote, which makes software that tracks laws, regulations, and other government decrees. FiscalNote has been growing fast. On... Read More
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Designing better businesses for a post-COVID world
December 21, 2020
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Designing better businesses for a post-COVID world

The collision of COVID and a business technology revolution has given new urgency to the role of design in business. Companies are reinventing themselves in the post-COVID world, out of necessity and opportunity. And the process of reinvention requires a kind of creativity that isn’t often taught in business school. That’s why Fortune created Brainstorm... Read More
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