Bloomberg Latam Airlines Group SA, Latin America’s largest air carrier, sought bankruptcy court protection in New York after the Covid-19 pandemic grounded flights across the region. The Chapter 11 petition allows Latam to keep operating while the Chilean carrier works out a plan to pay creditors and turn around the business. Latam, whose shareholders include Chile’s Cueto family and Delta ...

Bloomberg Wumei Holdings Inc, the Chinese retail group that owns one of the country’s biggest supermarket chains, is considering an initial public offering in Hong Kong, people with knowledge about the matter said. The Beijing-based company has held preliminary talks with potential advisers about a listing, according to the people, who asked not to be identified because the information is ...

Bloomberg Air Canada’s bid for tour operator Transat AT Inc faces an extended probe from European Union regulators who said the deal may hamper competition by combining the two biggest airlines linking Europe and Canada. The European Commission set a September 30 deadline to rule on the deal, citing concerns that the “transaction could significantly reduce competition on 33” routes, ...

Bloomberg The German government’s 9 billion-euro ($9.8 billion) bailout of Deutsche Lufthansa AG may cost the stricken carrier some valuable assets: Key flight slots at airports in Frankfurt and Munich. The European Commission wants Lufthansa to surrender the slots out of concern the aid will give the carrier unfair advantage over competitors, people familiar with the matter said. After weeks ...

Bloomberg EasyJet Plc Chief Financial Officer Andrew Findlay has informed the carrier that he plans to leave next year, days after facing down a demand for his removal from the board in a dramatic shareholder vote. Findlay will stay on until May 2021 when his contract expires, EasyJet said in a statement on Tuesday. The low-cost carrier said it would ...

Bloomberg One of the European Central Bank’s (ECB) key policy makers signalled that the institution is very likely to boost its emergency bond-buying program to fight the coronavirus. With inflation low, there is room to innovate and act “rapidly and powerfully,” Bank of France Governor Francois Villeroy de Galhau told a conference in Paris. He also signalled that he’d like ...

Bloomberg HSBC Holdings Plc is taking full control of its German business as Europe’s largest lender restructures its global operations. The bank will acquire an 18.66% stake in HSBC Trinkaus & Burkhardt AG from Landesbank Baden-Wuerttemberg, a regional lender in the south of Germany, according to statements by the banks. They didn’t disclose a price. HSBC is pivoting to Asia ...

Bloomberg People’s Bank of China (PBOC) Governor Yi Gang said the central bank will focus on five measures to support credit provision to the real economy, following the government’s announcement of more “direct” support in its annual policy blueprint released last week. In the near future officials plan to roll out more measures to enable small firms to delay repayment ...

Bloomberg Incoming Bank of Canada Governor Tiff Macklem will face a combination of rising prices and stagnant growth as the economy struggles to recover from coronavirus (Covid-19) pandemic. That’s the forecast from Canadian economist David Rosenberg, who sees prices increasing as consumers feel comfortable shopping again and production costs rising even as the economy underperforms — an unusual combination known ...

Bloomberg UBS Group AG is setting aside hundreds of millions of dollars of its own money to invest in fintech companies, joining peers in financing startups that are upending traditional banking. The Swiss wealth manager is planning a corporate venture capital fund to make investments between $10 million and $20 million in dozens of companies, according to a person familiar ...