Bloomberg A landmark law to strengthen European Union climate policies and make the 2050 goal of climate-neutrality irreversible risks falling off a fast-track approval process, as the bloc’s leaders take time to consider the economic impact of the unprecedented overhaul in the midst of the deepest recession on record. EU heads of government plan to discuss the draft measure at ...

Bloomberg Malaysia Airlines Bhd is prepared to shut down if ongoing talks with leasing companies about a restructuring plan fail, The Edge Malaysia cited the national carrier’s chief executive officer as saying. A “sizable” number of creditors support the company’s plan, some are against it and others are still undecided, Izham Ismail told the business weekly in an interview. The ...

Bloomberg Air Canada slashed the purchase price for tour operator Transat AT Inc to almost a quarter of its earlier offer, citing the impact of the Covid-19 outbreak on the air transport industry. The Montreal-based airline said it’s cutting the offer for Transat to C$5 a share from C$18 when the deal was announced in August 2019, valuing the company ...

Bloomberg L’Oreal SA plans to close retail locations to restructure its US luxury operations as the company grapples with severe changes to consumer behaviour amid the pandemic. The Luxe Division of L’Oreal USA plans to shift investment to growth areas such as e-commerce as part of the reorganisation over the next six months, the company said in a statement in ...

Bloomberg Reliance Retail, owned by Indian tycoon Mukesh Ambani, has withdrawn from the race to buy Debenhams Plc, The Sunday Times reported, quoting a source close to the process. Reliance had denied previous reports that it was in talks about buying all or part of Debenhams. Multiple parties remained interested in the company, according to The Sunday Times. The UK ...

Bloomberg Airbus SE delivered more aircraft in September than any month this year, a victory in the European planemaker’s battle to keep factories running and revenue flowing amid a prolonged downturn in air travel. The tally of 57 jets, mostly single-aisle with a handful of long-range aircraft, compared with 39 handovers recorded in August, according to a statement. Still, Airbus ...

Bloomberg Qantas Airways launched a sight-seeing flight across Australia in the airline’s latest effort to contend with the impact of the pandemic on the tourism sector. The “full-day outing” from Sydney took off morning with 150 passengers and was scheduled to pass over some of the country’s key landmarks, including Uluru, the famed red sandstone monolith in the Northern Territory, ...

Bloomberg China’s massive renewable energy industry has seen shares soar since President Xi Jinping announced the country aims to go carbon neutral by 2060. That surge continued as mainland-listed solar giants like Longi Green Energy Technology Co. and Tongwei Co. jumped in their first trading after a week-long holiday during which some peers in Hong Kong posted gains of more ...

Bloomberg If Democrats do “sweep” the November elections and increase capital gains taxes, it would be unlikely to cause more than a temporary slide in the US stock market, according to JPMorgan Chase & Co. Strategists and prediction markets are increasingly pricing in a “Blue Wave” where Democrat Joe Biden wins presidency and his party takes control of the Senate, ...

Bloomberg Crude prices slid after oil workers in Norway called off a strike that had shut down about 8% of the country’s production. Futures in London and New York both fell over 1%. The settlement will restore production at six fields already shut down by the dispute and prevent an escalation to another six. It also averts the shutdown of ...