Bloomberg Oil rose in New York as Moderna Inc reported its Covid-19 vaccine is highly effective against the virus. Moderna’s shot had 94.5% efficacy in a preliminary analysis of a large, late-stage clinical trial. That followed similar positive news for a vaccination being developed by Pfizer Inc. last week, buoying risky assets globally. The full impact of a vaccine on …

Bloomberg South Korea’s two biggest airlines plan to merge, with Korean Air Lines Co acquiring Asiana Airlines Inc for 1.8 trillion won ($1.6 billion) following an injection via its parent, Hanjin Kal Corp. The main goal of the acquisition is to stabilise South Korea’s aviation industry amid the coronavirus pandemic and improve its competitiveness, said Hanjin Group, which operates airlines …

Bloomberg Reliance Retail Ventures Ltd acquired a 96% stake in Urban Ladder, an online furniture seller for 1.82 billion rupees ($24.4 million), expanding the company’s reach in the world’s second-most populous nation. The unit of Reliance Industries Ltd plans to invest a further 750 million rupees in the next three years, it said in a statement. It also said it …