The Covid crisis has required strong and prompt action by central banks consistent with their mandates. In March, disorderly conditions reached the core financial markets, posing a very real threat to the stability of the financial system — by far the most serious threat since the global financial crisis. Underlying this disorder in markets was an economic downturn almost unprecedented ...

Bloomberg The final bids for Virgin Australia Holdings Ltd will show how much appetite private investors really have for an airline industry that’s been battered by the coronavirus pandemic. Private equity firms Bain Capital LP and Cyrus Capital Partners LP made final and binding offers for the airline on Monday, administrator Deloitte said in a statement. The Australian carrier collapsed ...

Bloomberg US officials rejected additional flights proposed by Chinese airlines but said they would reconsider if the Beijing government adjusts its policies affecting American passenger carriers. In a statement, the Transportation Department said it disapproved service schedules submitted by four China-based carriers that currently are allowed to make four combined flights to the US each week, plus additional proposals submitted ...

Bloomberg France plans to ban commercial air travel on the country’s shortest domestic routes in a bid to prevent low-cost carriers picking up links Air France is being forced to abandon as part of the terms of a bailout package. “If we are asking things of Air France, it’s not so that low-cost companies can come along and start their ...

Bloomberg American Airlines Group Inc braced its balance sheet with $3.5 billion in new financing, diverging from its recent reliance on federal aid as the coronavirus pandemic suppresses travel demand. The carrier is selling $750 million of shares and the same amount of senior convertible notes due in 2025, American said in a statement, confirming an earlier Bloomberg News report. ...

Bloomberg Bed Bath & Beyond Inc is looking to sell its Christmas Tree Shops and Cost Plus World Market chains, according to people familiar with the matter, part of an ongoing makeover of the home-goods company. The people declined to be identified because the process isn’t public. Activist investors pressured the company to oust Chief Executive Officer Steven Temares last ...

Bloomberg Vladimir Putin said he’ll consider running for a fifth presidential term in 2024, arguing that the hunt for any successor risks paralysing Russia’s government as the next election nears. “I don’t rule out such a possibility,” if the necessary amendment to the constitution is approved, Putin said in a Rossiya 1 television documentary broadcast. “I haven’t made up my ...

Bloomberg South Korea’s presidential office said John Bolton painted a distorted picture of diplomacy with North Korean leader Kim Jong-un, joining the Trump administration in criticising a memoir from the US former national security adviser. “It does not depict accurate facts,” Chung Eui-yong, the director of national security, said in a statement on Monday from the office of President Moon ...

Bloomberg President Donald Trump had looked to his first rally in three months as a reset for his campaign. Instead, the sparsely attended event in Tulsa, Oklahoma is stirring fresh questions about both his strategy and the direction of his re-election bid. The most evident shortfall from the rally was attendance, far smaller than the overflow crowd that the president ...

Bloomberg Kenya’s ruling party replaced a key parliamentary official on Monday, the latest in a series of leadership changes that have strengthened President Uhuru Kenyatta‘s hold on power and weakened his deputy, William Ruto. Amos Kimunya, a former finance minister, will replace Aden Duale as the Jubilee Party’s majority leader in the National Assembly, Secretary-General Raphael Tuju said in a ...