Emirates Business Etihad Cargo, the cargo and logistics arm of Etihad Aviation Group, expanded its digital portfolio by launching the first version of its mobile application, offering customers the ability to gain real time access to information on-the-go. Building on the success of Etihad Cargo’s iCargo platform and etihadcargo.com, the optimised mobile app boasts an array of in-built features to …

Bloomberg Goldman Sachs Group Inc asset managers cut borrowing for two energy funds, which saw their top holdings fall by one-third in two days amid “unprecedented” volatility in commodity prices, resulting in a “material impact” on their net asset value. The bank has decided to “effectively eliminate the net leverage” of its MLP Income Opportunities Fund and MLP and Energy …

Bloomberg Foresight Energy LP filed for bankruptcy protection after it was unable to turn a profit on coal mining anymore as power generators switched to cleaner and cheaper fuels. The company, founded by the late billionaire Christopher Cline, is among a wave of US miners to file for Chapter 11 in recent years, including Murray Energy Corp, which owns a …

Bloomberg Stocks climbed globally along with US index futures on Tuesday, recovering some ground after the deepest equity rout since the great financial crisis. Bonds and haven currencies trimmed their exceptional gains from a day earlier and the dollar strengthened. The Stoxx Europe 600 Index jumped alongside contracts on the three main American gauges, though few benchmarks came close to …

Bloomberg European stocks rebounded on Tuesday from their biggest selloff since 2008 on optimism about stimulus measures to counter the impact of the coronavirus. The Stoxx Europe 600 Index rose as much as 3.5%, tracking gains in US futures, after President Donald Trump said he will seek a payroll tax cut and “very substantial relief” for industries hit by the …

Bloomberg The S&P/ASX 200 index erased an early loss and surged out of bear market territory amid hopes for government measures that will offset the economic impact of the spreading coronavirus. Australia’s benchmark index rose 3.1% to close at 5,939.6, its largest gain since November 2016, after having earlier declined as much as 3.9%. The market flirted with a bear …

Bloomberg The coronavirus outbreak will add $100 billion in credit losses to banks in the Asia-Pacific region this year with Chinese lenders bearing the brunt of the damage, according to S&P Global Inc. “Some activity will be lost forever,” Shaun Roache, S&P’s Asia-Pacific chief economist, wrote in a note on Tuesday. “We estimate an income loss of about $211 billion, …

Bloomberg Bank of East Asia Ltd., (BEA) the Hong Kong lender that has been besieged by activist investor Paul Singer’s Elliott Management Corp., is considering options including a sale of insurance assets as part of its strategic review, according to people familiar with the matter. BEA could seek more than $1 billion from a sale of assets including its life …

Bloomberg Bank of Montreal (BMO) is splitting up its trading operations in Canada, the US, Asia and London, following other firms including Royal Bank of Canada (RBC) in taking measures to ensure business continues amid the coronavirus outbreak. “We are separating some of our critical trading staff to our business continuity plan sites in some locations as part of our …

Bloomberg JPMorgan Chase & Co. plans to eliminate as many as 140 positions at its private bank in Switzerland as it moves teams to cheaper locations to cut costs, according to a person familiar with the matter. The bank notified employees that it will be moving jobs in operations, technology and other support functions to locations including Scotland, the Philippines …