Bloomberg South Africa’s main stock index erases gains of as much as 0.4% to fall 0.5% by 9:40 am in Johannesburg, as weakness in banks and MTN Group counter a rise in heavyweight BHP and a soaring Shoprite. The losses come amid a resurgence in Covid-19 cases in parts of the US and Europe, raising concern that the economic rebound …

Bloomberg The Trump administration will announce measures shortly against “a broad array” of Chinese-owned software deemed to pose national-security risks, US Secretary of State Michael Pompeo said. The comments suggest a possible widening of US measures beyond TikTok, the popular music-video app owned by ByteDance Ltd., one of China’s biggest tech companies. President Donald Trump told reporters that he plans …

TOKYO / WAM Japan’s imports of crude oil from the UAE reached to 20.13 million barrels in June, according to data from Agency for Natural Resources and Energy in Tokyo. The agency, part of the Japanese Ministry of Economy, Trade and Industry, reported that the percentage of oil imports from the UAE amounted to 35.1 percent of the total Japanese …

Bloomberg Russia slightly increased its oil production in July, ahead of the Opec+ plans to start easing their record supply cuts starting this month. The nation’s producers pumped 39.63 million tons of crude and condensate last month, according to preliminary data from the Energy Ministry’s CDU-TEK unit. That’s an average daily of 9.371 million barrels, applying a 7.33 barrel-per-ton conversion …

Bloomberg Kuwait has suspended commercial flights from 31 countries on the advice of health authorities, just as the Gulf state re-opened its airport to such operations. While other flights will resume, countries on the barred list include India, Iran, China, Brazil, Lebanon, Spain, Singapore, Egypt and Sri Lanka, the Directorate General of Civil Aviation said in a statement. The airport …

Bloomberg Vitol Group paid a record $2.2 billion to its executives and staff through share buybacks last year, an unusually large payout that comes as the oil trader undergoes a generational transition in leadership. The buyback — Vitol’s main way of rewarding about 350 top employees who own the privately-held company — means the trading house has distributed a total …

Bloomberg Marathon Petroleum Corp, the largest US independent oil refiner, said it won’t restart two refineries in California and New Mexico amid concerns that demand for fuels is unlikely to return to pre-pandemic levels this year. Marathon said in a statement it will convert its 166,000 barrel-a-day Martinez, California, refinery near San Francisco into a terminal facility and may add …

Bloomberg Air Canada escalated a fight with the government of Prime Minister Justin Trudeau over the country’s stringent travel rules, threatening to suspend more routes and cancel orders of locally made planes. Chief Executive Officer Calin Rovinescu lambasted the government during the airline’s second-quarter earnings call, saying that current restrictions — especially a mandatory 14-day quarantine for all travellers coming …

Bloomberg United Airlines Holdings Inc will boost flights modestly in September as it resumes service on more than 25 international routes and begins skewing its network towards leisure traffic. The September schedule will amount to 37% of last year’s level, a slightly higher portion than the plan for August, United said in a statement. Destinations in Mexico and the Caribbean …

Bloomberg British Airways pilots accepted a pay cut of 20% in a deal to limit job losses, resolving a bitter dispute at the IAG SA unit as carriers seek to weather the global slump in air travel caused by the coronavirus. Just over one-fifth of the 1,255 redundancies initially planned will now go ahead, and some of those may also …