Bloomberg The coronavirus has blown Brexit out of the headlines, and for pound traders that may be a silver lining. Sterling will strengthen to 80 pence per euro — a level not reached since the 2016 vote to leave the European Union — and possibly beyond, according to Standard Bank. The pandemic means that the deadline for a trade deal ...

Bloomberg Boeing Co lost orders for 150 of its beleaguered 737 Max aircraft last month as travel bookings plunged because of the Covid-19 pandemic, squeezing airlines and aircraft lessors. Half the cancellations were previously announced by Avolon Holdings Ltd, the world’s No. 3 jet lessor. In addition, Brazil’s Gol Linhas Aereas Inteligentes SA trimmed 34 planes from an earlier deal. ...

Bloomberg Delta Air Lines Inc has agreed to sell and lease back aircraft in a deal valued at $1 billion, according to people with knowledge of the matter, as the company steps up efforts to raise cash while talks about US government aid drag on. The carrier will reap $750 million in proceeds from BBAM Aircraft Leasing & Management and ...

Bloomberg Amazon.com Inc was handed a French ban on sales of non-essential items after losing the first round of a court fight with labour unions who said the company wasn’t doing enough to protect staff from the Covid-19 pandemic. Amazon said in a statement it’s appealing the ruling, a move that suspends the court’s decision. The world’s biggest online retailer ...

Bloomberg South African Airways (SAA) has been denied any further funding by its government owner as the national carrier looks for ways to recover from the coronavirus crisis and a local form of bankruptcy protection. The airline’s administrators, who were put in charge in December, were told by the state to instead source cash from available resources, according to a ...

Bloomberg Air-passenger traffic slumped 54% in China in the first three months of 2020 as the coronavirus outbreak and related travel restrictions decimated demand. China’s aviation industry lost 39.8 billion yuan ($5.6 billion) in the first quarter, with airlines accounting for 33.6 billion yuan, the Civil Aviation Administration of China (CACC) said at a briefing in Beijing on Wednesday. Passenger ...

Bloomberg The International Monetary Fund (IMF) predicted the “Great Lockdown” recession would be steepest in almost a century and warned the world economy’s contraction and recovery would be worse than anticipated if coronavirus lingers or returns. In its first World Economic Outlook report since spread of Covid-19 and subsequent freezing of major economies, the IMF estimated on Tuesday that global ...

Bloomberg Oil erased earlier gains as the demand destruction caused by the coronavirus pandemic outweighed planned output cuts from the world’s biggest producers. Futures fell 4.6% in New York amid persistent concerns of a massive supply glut. A key timespread on American benchmark — a gauge of the health of the market — is at its weakest level in more ...

Bloomberg A researcher at China’s biggest oil company said the country’s drillers should copy the hedging strategies of Mexico and shale firms in the US, which use financial derivatives to protect against falling oil prices. Most of China’s oil production is unhedged, leaving the stability of the sector exposed to global market fluctuations, according to Dai Jiaquan, director of the ...

Bloomberg Japan revised lower its latest greenhouse gas emissions figures, which it had already reported as the least since records began in 1990. Emissions fell 3.9% from a year earlier, data on Tuesday from the environment ministry showed, a bigger drop than the 3.6% estimate in November. The figures, for the year through March 2019, are the latest available. The ...