Bloomberg Qantas Airways Ltd cancelled most international flights until late October after the government said Australia’s borders are likely to remain closed until next year. The extended cancellation increases financial pressure on the airline, which is slowly adding back domestic services but has grounded dozens of aircraft and furloughed most of its employees. International flights were previously on hold until …

Bloomberg The pilot of a helicopter carrying retired basketball star Kobe Bryant may have become disoriented in clouds as the craft abruptly turned and dove to the ground near Los Angeles earlier this year, killing all aboard, investigators said. A preliminary analysis of the final moments of the flight released by the National Transportation Safety Board (NTSB) found the veteran …

Bloomberg A Senate committee chairman sharply criticised the Federal Aviation Administration (FAA) for what he alleged were repeated failures to respond to a committee’s investigations, including into two crashes of Boeing Co’s 737 Max. Senator Roger Wicker of Mississippi, the Republican head of the Senate Commerce Committee, accused the FAA of delaying interviews with its employees and failing to turn …

Bloomberg Target Corp is raising its minimum hourly wage to $15 at a time when its workers are grappling with the dual impact of the pandemic and protests for racial equality that began in the chain’s hometown. The cheap-chic retailer will move to $15 an hour on July 5, fulfilling a pledge it made three years ago and providing about …

Bloomberg Tesco agreed to sell its business in Poland to Danish retailer Salling Group, as the UK’s largest supermarket operator focuses on its domestic market in a consumer landscape overturned by the coronavirus. The UK grocer said it expects proceeds of about 165 million pounds ($207 million) from the sale of 301 stores, as well as distribution centres and office …

Bloomberg The Bank of England (BOE) is widely expected to boost its support for the UK economy again amid signs that recovering from the pandemic-induced recession will be harder than hoped. Economists predict the central bank will expand its bond-buying program by 100 billion pounds ($125 billion), taking it to 745 billion pounds, and investors are watching keenly for any …

Bloomberg UBS Group AG and Credit Suisse Group AG are likely to face worsening credit quality and falling demand for wealth-management and investment-banking services because of the pandemic, according to the Swiss National Bank (SNB). Credit quality is expected to deteriorate both in Switzerland and abroad, the national bank said in its annual Financial Stability Report. A stock market correction …

Bloomberg Norway’s central bank signalled it might be ready to raise its main interest rate from a crisis low in about two years, as an historic wave of stimulus helps revive the economy. The bank left its benchmark deposit rate at a record low of zero, as expected, after delivering three cuts earlier in the year to steer the richest …

Bloomberg Indonesia’s central bank cut its benchmark interest rate for the first time in three months and lowered its growth outlook for the year, days after the government warned of a severe hit to the economy from the coronavirus pandemic. Bank Indonesia lowered its seven-day reverse repurchase rate by 25 basis points to 4.25% on Thursday, ending a two-month pause. …

Bloomberg A hiring slowdown at banks in Asia is beginning to thaw, driven by demand for coders. Lenders including DBS Group Holding Ltd., Oversea-Chinese Banking Corp. (OCBC) and Citigroup Inc. are adding workers to their tech departments in the region despite the economic downturn. Financial institutions are especially hungry for mobile app designers and data scientists who can build systems …