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, ...

Bloomberg Virgin Atlantic Airways Ltd is considering a public offering in London as the company gears up its business for recovery from the pandemic. Executives have been holding discussions with bankers and potential investors, and could announce the company’s plans for an IPO as soon as the autumn, according to a person familiar with the matter who asked not to ...

Bloomberg Deutsche Lufthansa AG is expecting long-haul travel to finally pick up this year alongside loosening Covid-19 restrictions and vaccine take up, giving some cause for optimism after a second-quarter loss of 952 million euros ($1.13 billion). North America could open up from late summer with Asia following from the end of the year, the company said in a statement. ...

Bloomberg PepsiCo Inc is to sell Tropicana, Naked and other juice brands to French private equity firm PAI Partners for about $3.3 billion as it seeks to bolster its balance sheet and focus on healthier snacks and zero-calorie drinks. The US drinks giant will retain a 39% noncontrolling interest in a new holding company for the brands and has also ...

Bloomberg Odey Asset Management has sold its stakes in Ryanair Holdings Plc and British Airways’s (BA) owner International Consolidated Airlines Group, the Daily Mail reported, as the UK airline industry prepares for further job cuts. Fund manager James Hanbury sold his IAG holding after shares rebounded, the paper said. IAG rose 8.5% this year while Ryanair added 3.4%, both outperforming ...

Bloomberg Sourabh Saini, a delivery driver for Indian online supermarket BigBasket, is thrilled by the attention he gets as he zips around Noida, a satellite city on the outskirts of Delhi, in his three-wheeled electric van. “I like how my electric van always gets noticed,” said Saini, who made the switch from fossil fuels about eight months ago as part ...

Bloomberg The pound is about to enter a new era of strength against the euro, thanks to the Bank of England’s (BOE) hawkish turn. Traders have raised the odds of a rate hike in February to 60% after the BOE made clear last week that it’s beginning a countdown to end the era of rock-bottom borrowing costs. And it’s given ...

Bloomberg Ecuador’s central bank doubled its emergency credit line with the Bank for International Settlements to $840 million as a precautionary measure in case of a downturn, its governor said in an interview. The credit line is part of efforts to strengthen the bank after previous administrations used its funds for government spending, Guillermo Avellan said. Those actions hurt the ...