Bloomberg As the number of countries going into lockdowns to fight the coronavirus pandemic increases, emerging markets may institute capital controls, according to Citigroup Inc. “There’s a decent case to make that we might be approaching a world in which policy makers start to restrict the movement of capital in just the same way that they are restricting the movement …

Bloomberg The credit ratings of South Africa’s five largest banks were downgraded deeper into junk by Fitch Ratings, which cited a deteriorating operating environment following the outbreak of the novel coronavirus. The ratings were reduced by one notch to BB, two steps below investment grade and one notch lower than that of South Africa, Fitch said in a statement late …

Bloomberg An ugly feud is escalating between Qantas Airways Ltd and its closest Australian competitor over the ethics of state aid, just as airlines facing collapse around the world race to secure bailouts. With demand all but gone, Qantas is hunkering down to weather the coronavirus crisis after a run of record profits. It has furloughed most staff and used …