Bloomberg A shortage of diesel fuel in South Africa will ease up in a few weeks when about 30% of its refining capacity, idled because of a drop in demand spurred by the Covid-19 lockdown, will return to service. Sasol Ltd and Total SA shut the Natref refinery in April after the government restricted economic activity to curb the spread …

Bloomberg Across the US, sales are cratering, bankruptcies are on the rise, and unemployment has hit unprecedented levels. With consumers glued to the couch watching Netflix or commiserating over Zoom, retailers have been especially hard hit. Yet even as the coronavirus pandemic wreaks havoc on American malls and main streets, a billionaire from Prague sees something in the wreckage: bargains. …

Bloomberg Amazon.com is scaling back deliveries and adjusting routes in a small number of cities including Chicago, Los Angeles and Portland after the death of George Floyd in Minneapolis sparked demonstrations around the country, prompting curfew orders. “We are monitoring the situation closely and in a handful of cities we adjusted routes or scaled back typical operations to ensure the …

Bloomberg Brookfield Asset Management rejoined the race to buy Virgin Australia Holdings Ltd, according to a person familiar with the situation, as administrators prepare to narrow the field of suitors for the collapsed carrier. The Canadian asset manager submitted a bid to administrators at Deloitte, said the person, declining to be named since the proposal hasn’t been made public. Deloitte, …

Bloomberg US airlines have yet to tap $29 billion in federal pandemic relief loans as they wait to see whether the reopening of the economy revives demand and diminishes the need for money that comes with government strings attached. Although the four largest US passenger airlines have applied for the Treasury Department program, only American Airlines Group Inc has said …

Bloomberg South Africa permits air travel from four main airports from Monday as the nation eases lockdown measures put in place to curb the spread of the coronavirus pandemic. Limited domestic flights will be allowed for business purposes, and passengers must ask for authorisation based on their reason for travel, Transport Minister Fikile Mbalula said in a televised briefing. Flights …

Bloomberg The aviation industry’s recovery from the coronavirus outbreak will be long and slow, with passenger numbers likely to stay below pre-pandemic levels through 2023, according to S&P Global Ratings, which warned of more rating downgrades for airports over the next few months. Global air passenger numbers will drop as much as 55% this year, a far steeper slump than …

Bloomberg How willing will the Federal Reserve be just to switch off all the stimulus it rolled out to safeguard markets from the coronavirus? The most plausible answer is “not very,” logic that forms the most aggressive bull case on equities. As anyone who has watched the rocky path to reopening cities and states, it’s hard to know when to …

Bloomberg Middle Eastern equity markets mostly rose on Sunday as economies continued to open up from coronavirus lockdowns, with Saudi Arabia leading gains. The Tadawul All Shares Index climbed as much as 4.1%, before trimming gains to 1.7%. Gauges in Abu Dhabi, Egypt and Oman rose. Saudi Arabia began the second phase of easing its shutdown on Sunday by resuming …

Bloomberg Bangladesh’s benchmark equity index rose after stock markets opened following a two-month trading halt, as investors bet the government ending a nationwide lockdown will revive economic growth. The DSE Broad Index advanced 1.3% Dhaka on Sunday, rising to its highest level since March 12. Stocks last traded on March 25, marking the longest trading halt since 1976. Investors are …