Bloomberg Yale University’s publicly disclosed US stock portfolio surged in value last quarter as endowment added exchange-traded funds and technology shares during the coronavirus-fuelled market plunge. The endowment’s equities increased to $267.4 million as of the end of March from $62.8 million at the end of last year as Ivy League school greatly expanded its holding in the SPDR S&P ...

NEW YORK / WAM The UAE has emphasised that multilateralism and international cooperation remain essential to resolving global challenges at a meeting of the UN Security Council on the 75th anniversary of the end of the Second World War in Europe and lessons learned for preventing future atrocities. “While we commemorate the end of the Second World War on European ...

Bloomberg Oil traded near a five-week high as investors weighed the nascent recovery of demand against concerns about a resurgence in coronavirus cases if lockdowns are relaxed too early. The head of the International Energy Agency (IEA) said oil use will be below pre-coronavirus levels for at least a year, highlighting the depth of the collapse in consumption. The top ...

Abu Dhabi / WAM The UAE has strongly condemned the terror attack that targeted a hospital in the Afghan capital Kabul and another that targeted a funeral, resulting in numerous deaths and injuries. The Ministry of Foreign Affairs and International Cooperation expressed in a statement its utter denunciation of these criminal acts and rejection of all forms of violence, which ...

Bloomberg In China’s latest efforts to pit renewable energy against fossil fuels, it is again betting on size. Resources such as wind and solar don’t stand much of a chance if there isn’t a way to store energy when the wind doesn’t blow and the sun doesn’t shine. So some of China’s biggest state-owned companies are pouring in billions of ...

Bloomberg It will take more than a year, and perhaps several, for oil demand to recover to what it was before the coronavirus shuttered conomies and caused energy markets to collapse, according to the head of the International Energy Agency (IEA). Crude demand of about 100 million barrels a day prior to the pandemic plummeted by about 30% last month, ...

Bloomberg Amazon.com Inc says the one- and two-day delivery times that shoppers have come to expect should gradually return in coming weeks as the online retailer catches up from a demand surge tied to the coronavirus outbreak. The company lifted restrictions on the amount of inventory its suppliers can send to Amazon warehouses and is shortening delivery times — which ...

Bloomberg Ryanair Holdings Plc sees an opportunity to buy planes for less and reduce other costs with weaker rivals out of the picture once the airline industry emerges on the other side of the coronavirus pandemic. Dublin-based Ryanair is in “advanced discussions” with Boeing Co over pricing for 737 Max jets, Chief Executive Officer Michael O’Leary said at a Financial ...

Bloomberg The German government is engaged in last-minute debates over the details of its bailout of Deutsche Lufthansa AG, with Chancellor Angela Merkel seeking a deal that doesn’t involve a direct stake in the national carrier, while her deputy, Finance Minister Olaf Scholz, favors such an investment, according to people familiar with the matter. Under a scenario preferred by the ...

Bloomberg TUI AG will eliminate as many as 8,000 jobs, about 15% of its workforce, to cut costs and slim down its business as people travel less and favor different locations following the coronavirus outbreak. The world’s biggest package-holiday company is seeking to pare overall costs by almost one-third and offer more local breaks in the hope of encouraging a ...