Bloomberg An emergency measure allowing Colombia’s government to take equity stakes in private companies opens the door for a bailout of the nation’s largest airline, Avianca Holdings SA, which declared bankruptcy last month amid an unprecedented downturn in travel. The new regulation, which permits the government to take minority positions in companies that have been impacted by the sharp economic …

Bloomberg Delta Air Lines Inc will drop service to 11 midsize US cities next month amid weak demand because of the Covid-19 pandemic, a reminder of the industry’s fragility after a record stock rally. The service suspensions affecting cities from Aspen, Colorado, to Bangor, Maine, will help lower costs, Delta said in a statement. The affected airports are among 75 …

Bloomberg Boeing Co is heading for its best week in more than two months as surprise job gains and airline bookings signal that demand for air travel — and jetliners — is poised to recover from a historic plunge. The US planemaker’s status among investors has recently flipped to darling from market pariah, although analysts caution that Boeing still faces …

Bloomberg Victoria’s Secret UK arm is appointing an administrator to help overhaul its business, amid plunging sales across the retail sector. The unit of Ohio-based L Brands Inc, which operates 25 stores in the country, will appoint Deloitte to renegotiate leases or sell the stores, Stuart Burgdoerfer, the unit’s interim chief executive officer, said in an emailed statement. Victoria’s Secret …

Bloomberg Yandex NV will test a driverless car it developed with Hyundai Motor Co. in Detroit as the Russian technology giant makes plans to approximately double its fleet of self-driving vehicles. Yandex plans to buy 100 of the cars, which are souped-up versions of Hyundai’s Sonata, the company said in a statement. The test-drives, which had been planned around the …

Bloomberg Worldwide smartphone shipments are expected to fall by 11.9% this year — their biggest annual drop ever — indicating things are going to get worse for the industry before they get better. In its latest market forecast, research firm IDC anticipates shipments of 1.2 billion in 2020, down from just under 1.4 billion last year. The annual forecast follows …

Bloomberg Sennheiser’s HD 25 headphone was not originally designed for DJs. Though today it’s considered an essential piece of equipment behind the decks—worn by the likes of Calvin Harris, Luciano, Richie Hawtin, Martin Solveig, and scores of other boldface names—they were first designed in 1988 for broadcast booths and recording engineers. In 1989, the German audio company started supplying the …

Bloomberg The UK car industry joined in a round of job cuts that has swept Europe, with auto companies looking to downsize to cope with lower sales following the Covid-19 pandemic. Aston Martin Lagonda Global Holdings Plc said it plans to eliminate almost 20% of the workforce, or as many as 500 positions, to cope with a slump in demand …

Bloomberg Bentley Motors Ltd. plans to slash as many as 1,000 jobs in the UK, about a quarter of its workforce, to cut costs and contain the fallout of the coronavirus crisis after years of weak profitability. The move adds to 2,000 other British auto-industry job cuts announced this week, while European car, truck and parts makers have set plans …

Bloomberg When it comes to US-China friction, Asia’s loss is turning into Latin America’s gain. The worsening relationship between the world’s two biggest economies is driving capital out of Asia into nations such as Brazil and Mexico, where the March rout has left valuations too low to ignore. Investors are now paying the most in three years to own Latin …