Bloomberg Chinese internet stocks rallied in Hong Kong on Tuesday after some brokers started to turn optimistic on the sector and said investors were making an attempt to find a bottom in prices after the recent selloff. The Hang Seng Tech Index rose 2.5%, the most in nearly two weeks, to snap a three-day losing streak. The sector bellwether Tencent …

Bloomberg Oil plunged to an 11-week low, extending losses after the worst week since October, as new waves of Covid-19 threatened fuel demand. Futures fell below $66 a barrel in New York, while wilting timespreads showed the market is faltering. Goldman Sachs Group Inc downgraded its economic growth forecast for China as the country imposed measures to contain virus flare-ups, …

Bloomberg UK airlines are warning that thousands of jobs could be lost if the government fails to reverse course and offer the industry an extension of the furlough program with travel in a slump for a second summer season. Carriers have asked the government for a short-term, sector-specific jobs support plan to tide it through the usually lean winter months, …