The daily business briefing: August 16, 2021
The Biden administration prepares to increase food stamp benefits, United reroutes flights to avoid Afghan airspace, and more


1. Biden administration to increase food stamp benefits
The Biden administration is expected to announce Monday the largest permanent increase to food assistance benefits in history. Under the new rules, which will take effect in October, average benefits will increase by more than 25 percent over pre-pandemic levels, rising by $36 to $121 monthly per person. All 42 million beneficiaries will receive more. The changes don't need approval from Congress. Unlike other new spending intended to help people weather the coronavirus pandemic, these added benefits are intended to last indefinitely. Agriculture Secretary Tom Vilsack said the program provided a safety net, and its $79 billion annual cost helps "stabilize our democracy."
2. United reroutes flights to avoid Afghan airspace
United Airlines on Sunday rerouted its India flights to keep them out of Afghanistan's airspace after the Taliban seized Kabul and the country's government collapsed. "Due to the dynamic nature of the situation we have begun routing affected flights around Afghanistan airspace," said the airline, which serves New Delhi from its Newark Liberty International Airport hub and Chicago O'Hare International Airport, and Mumbai from Newark. The airline said it would continue to work with the Federal Aviation Administration and the International Air Transport Associated "to evaluate the situation and determine how we continue service to markets impacted."
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.

Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
3. China factory output slows, threatening global recovery
China on Monday reported that factory output and retail sales growth slowed sharply in July, fueling concerns that surging coronavirus infections were threatening the global economic recovery. Industrial production in China, the world's second-largest economy, rose by 6.4 percent in July compared to a year earlier, according to data from Beijing's National Bureau of Statistics released Monday. Analysts had predicted a 7.8 percent increase, after June's 8.3 percent rise. Retail sales rose by 8.5 percent, falling far short of the expected 11.5 percent increase. Retail sales jumped by 12.1 percent in June. Although China's economy is back to pre-pandemic levels, businesses now face supply bottlenecks and new coronavirus restrictions.
4. Hyatt to buy Apple Leisure for $2.7 billion
Hyatt Hotels Corp. confirmed Sunday that it plans to buy resort company Apple Leisure Group for $2.7 billion. Apple Leisure is owned by KKR and KSL Capital Partners LLC, a private-equity group specializing in travel and leisure. It was hit hard by coronavirus lockdowns and travel bans in 2020, although it has bounced back somewhat as restrictions were eased. The deal promises to boost the hospitality giant's resort-management portfolio, and give it a major provider of charter flights and vacation packages to Mexico, the Dominican Republic, Jamaica, and other Caribbean destinations. Apple Leisure manages the Secrets, Dreams, and Breathless Resorts & Spa chains. It also sells vacation packages under numerous brands, including CheapCaribbean.com and Apple Vacations.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
5. Stock futures pull back after last week's all-time highs
U.S. stock futures fell slightly early Monday, pulling back from last week's record highs. Futures tied to the S&P 500 and the Dow Jones Industrial Average were down by 0.2 percent several hours before the opening bell. Both indexes closed at all-time highs on Friday. Futures for the tech-heavy Nasdaq were down by 0.1 percent. China reported Monday that industrial growth slowed in July, fueling investor fears that the spread of the highly infectious Delta variant of the coronavirus would slow the global economic recovery. "That is the reason why the market is a bit nervous today," said Andrea Carzana, a fund manager at Columbia Threadneedle Investments.
Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.
-
Who owns Gaza? Israel's occupation plans
The Explainer Egypt, Israel and Britain have ruled the beleaguered territory
-
Savages: a tragi-comedy set in a 'quirky handcrafted world'
The Week Recommends This new animated film by Oscar-nominated filmmaker Claude Barras is undeniably political, but it has a hopeful message
-
Why 'faceless bots' are interviewing job hunters
In The Spotlight Artificial intelligence is taking over a crucial part of recruitment
-
Is Trump's tariffs plan working?
Today's Big Question Trump has touted 'victories', but inflation is the 'elephant in the room'
-
Why the world's busiest shipping routes are under threat
The Explainer Political tensions, mega ships and global warming offer new challenges – and opportunities
-
Labubu: the 'creepy' dolls sparking brawls in the shops
In the Spotlight Craze for the pint-sized soft toys has reached fever pitch among devotees
-
Who would win in a China-US trade war?
Today's Big Question Tariff pain will be higher for China but Beijing is betting it can weather the storm
-
Pet cloning booms in China
Under The Radar As Chinese pet ownership surges, more people are paying to replicate their beloved dead cat or dog
-
Trump's China tariffs start after Canada, Mexico pauses
Speed Read The president paused his tariffs on America's closest neighbors after speaking to their leaders, but his import tax on Chinese goods has taken effect
-
Pros and cons of tariffs
Pros and Cons As Trump imposes tariffs on cars from overseas, here are the arguments for and against duties
-
Chinese AI chatbot's rise slams US tech stocks
Speed Read The sudden popularity of a new AI chatbot from Chinese startup DeepSeek has sent U.S. tech stocks tumbling