Bloomberg Pravin Gordhan, South Africa’s minister for public enterprises, is staking his own credibility and that of President Cyril Ramaphosa’s government on the creation of a new airline out of the ashes of the bankrupt national carrier. Hit by the loss of the country’s last investment-grade rating on its sovereign debt and the Covid-19 pandemic, Ramaphosa has said hard choices …

Bloomberg Italy’s shoppers may be digging out their wallets as retail businesses reopen on Monday, but many of the country’s 2.7 million merchants say there’s little to celebrate. “My creditors will be all over me as soon as I raise my portcullis,” said Giulio Anticoli, referring to the heavy medieval grates still used to protect some storefronts in Rome. “There’s …

Bloomberg The administrators of Virgin Australia Holdings Ltd have shortlisted a small number of bidders for the airline after receiving more interest than they anticipated. Deloitte spent the weekend reviewing indicative offers for the carrier from interested investors and has narrowed the field to a small number of well-funded parties with strong aviation credentials, according to a statement on Monday. …