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- BusinessBloomberg•7 hours ago
China's government has once again managed to engineer a mini-stock market collapse. This time, though, it's probably a good thing. The ChiNext composite index dropped 5.6 percent Wednesday after a report in the 21st Century Business Herald indicated the authorities may curb the ability of wealth-management vehicles to invest in equities. The story also dragged the blue-chip-heavy Shanghai Composite 1.9 percent lower and lopped 4.5 percent from the Shenzhen index. (The ChiNext fell another 1.8 percent as of 11:30 a.m. Thursday, while the Shenzhen index declined 1.4 percent and the Shanghai measure was down 0.6 percent.) As deep as the plunges seemed, they were merely the worst since early June.
- BusinessChicago Business Journal•18 hours ago
Southwest Airline's massive technology outage that caused a near collapse of the carrier's operations nationwide last week continues to reverberate throughout the low-fare airline, and is likely to do so for many days and weeks to come. An internal memo to Southwest Airlines (NYSE: LUV) employees from Craig Drew, senior vice president of air operations, only underscores the magnitude of the meltdown and the damage control with employees that top management is now engaged in as many workers have been outraged by the company's handling of the mess. Drew began his memo by noting "the last week has been a trial by fire for us at Southwest Airlines, especially for those of you who were on the front