Bloomberg Australian shares are slowly recovering from the March sell-off even as the global economic outlook gets gloomier with the fresh trade discord between the US and China. This week the stock benchmark Down Under is on track to record best gain in about a month. The prospects of the first recession in almost 30 years and little-to-no corporate earnings …

Bloomberg UniCredit SpA reported its biggest loss in more than three years as provisions related to the coronavirus added to the pain of one off costs for job cuts and the writedown of its Turkish unit. The net loss totalled 2.71 billion euros ($2.94 billion), as loan-loss provisions climbed to 1.26 billion euros, the Milan-based bank said on Wednesday. About …

Bloomberg Capitalworks Investment Partners Pty Ltd. plans to invest 5 billion rand ($270 million) of newly raised cash in mid-sized South African companies hit by a shrinking local economy and the coronavirus pandemic. The firm raised 25% more than planned for its Private Equity Fund III from Morgan Stanley’s Alternative Investments Partners (AIP) unit, institutional investors and wealthy families, Capitalworks …