Bloomberg UK Prime Minister Boris Johnson backed off from intervening in British Airways (BA) plans to cut pay and modify contracts for remaining staff after dismissing thousands of others. “British Airways and a number of other companies are in severe difficulties at the moment,” Johnson told lawmakers in Parliament. “We cannot simply with a magic wand ensure that every single ...

Bloomberg Burberry Group Plc said it will cut 500 jobs globally to cut costs after lockdowns caused sales to plunge by almost half in the past quarter. The British fashion house said comparable retail sales fell 45% in the quarter and predicted that the pandemic will continue to hurt performance in the current period. Covid-19 prompted luxury boutiques to shut ...

Bloomberg Delta Air Lines Inc will take a charge of as much as $3.3 billion to cover the costs of early retirement and voluntary separation plans for employees, as the carrier scales back operations amid a plunge in travel. The charge will be recorded in the third quarter and most workers will leave on August 1, the Atlanta-based carrier said ...

Bloomberg Foreign Secretary Dominic Raab said the UK believes Russians tried to meddle in last year’s general election by disseminating documents relating to trade talks with the US. The opposition Labour Party released the documents to the press on November 27 last year, during the election campaign, saying they showed Prime Minister Boris Johnson was prepared to put the country’s ...

Bloomberg South Korean prosecutors have launched an investigation in Kim Jong-un’s sister, in a rare but symbolic gesture that risks renewing tensions with North Korea. Kim Yo Jong and North Korean military chief Pak Jong Chon are being investigated over their involvement in the destruction of a liaison office that South Korea built north of the border, the Seoul Central ...

Bloomberg Donald Trump has insisted for weeks that he is in good shape to win a second term in November. But the president acknowledged the trouble he is facing by reshaping his campaign leadership, ousting manager Brad Parscale. Trump announced in a Facebook post that Bill Stepien, the former deputy campaign manager, will now lead his re-election operation. Parscale, who ...

Bloomberg The Philippine capital remained under loose movement restrictions from Thursday, but may return on a stricter lockdown in two weeks if coronavirus cases continue to rise. Metro Manila will stay under general community quarantine until end-July, allowing most businesses to remain open, presidential spokesman Harry Roque said at a televised briefing. The health department on Thursday said the nation ...

Bloomberg With Congress about to debate whether to send another round of relief payments to individuals, a study has found that the last batch of stimulus checks arrived at wealthier, White households more quickly than to those of Blacks and Hispanics. Nearly seven in 10 adults said that they received their coronavirus economic stimulus payments, approved by Congress in March, ...

Bloomberg A Russian court ordered the continued pre-trial detention of a prominent former journalist accused of treason, while striking out one element of the charges against him. The Moscow City Court rejected Ivan Safronov’s bid to be released from custody, leaving him in jail for at least two months. Safronov, who regularly broke news on sensitive arms deals while working ...

Bloomberg Britain ramped up its record bond-issuance plan to help the government finance a recovery from one of the worst economic downturns in the nation’s history. An additional 110 billion pounds ($138 billion) of bonds will be sold between September and November, according to the Debt Management Office, bringing total sale plans from the start of the fiscal year to ...