Bloomberg South Korea’s financial authorities will provide one trillion won ($828 million) in liquidity to Korean Air Lines Co by issuing government-guaranteed bonds as early as the end of this month, Yonhap News reported. The cash-strapped flag carrier needs the funds to stay afloat as the aftermath of the Covid-19 outbreak is likely to continue to hinder its operations into …

Bloomberg The French government will present a plan worth billions of euros to rescue its beleaguered aerospace industry, protect key suppliers from Chinese interests and may bring forward some defense orders, the transport minister said. The aid package to be is aimed at European jet manufacturer Airbus SE, engine maker Safran SA, defense group Thales SA, and hundreds of French …

Bloomberg Ascena Retail Group, the owner of the Ann Taylor and Lane Bryant apparel chains, is discussing a potential bankruptcy filing with lenders after its business was thrown into disarray by the Covid-19 pandemic, according to people with knowledge of the matter. The Chapter 11 filing, which could come as soon as July, would allow the company to keep some …

Bloomberg Singapore Airlines Ltd will focus on recovering from the coronavirus outbreak and doesn’t plan to cut jobs at the moment, the Sunday Times reported, citing the carrier’s CEO Goh Choon Phong. Still, the airline will have to review possible job cuts, Goh was quoted as saying in the report, without providing more details. Singapore Airlines has offered its staff …

Bloomberg London Heathrow airport said it may need to cut one-third of its workforce if the UK government doesn’t indicate soon that it plans to relax a quarantine rule for incoming passengers. Europe’s busiest air hub, which employs 7,000 people, has eliminated a third of operating costs and management posts while resisting permanent job cuts among frontline staff, Chief Executive …

Bloomberg European stocks dropped, the dollar weakened and US equity futures fluctuated as investors mulled how much further to take the global rally in risk assets. Technology and health-care shares led the Stoxx Europe 600 Index lower. The greenback fell against a basket of its peers and headed for the longest losing streak since 2011. Brent crude oil rose to …

Bloomberg Indian stocks rose for a second day as the country entered the first phase of opening up its economy, with hotels, restaurants and shopping malls permitted to function after more than two months of lockdown. The S&P BSE Sensex advanced 1.4% to 34,757 as of 10:57 am in Mumbai, with the NSE Nifty 50 Index also gaining by the …

Bloomberg There’s a new king in the world of Japanese pharma after hopes for a coronavirus treatment helped to turbocharge its shares. Chugai Pharmaceutical Co., Japan’s leading oncology company, is the best performer on the Nikkei 225 this year, up almost 56% versus the 2% drop in the broader index. The surge has brought its market value almost neck-and-neck with …

ABU DHABI / AGENCIES During a video conference, Opec+ alliance agreed to extend production cut to the end of July. The videoconference meeting was held in an atmosphere of cooperation and a collective determination to maintain a balance in the oil market, Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Industry, wrote on Twitter. “The UAE is …

Dubai / WAM P&O Marinas has signed a strategic collaboration agreement with Pindar Yacht Management for the development of a water sports academy, a recreational club, an exhibition space and associated marine leisure services and facilities. Under the agreement, Pindar Yacht will bring its experience as an international sailing business and brand to support the transformation of the P&O Marinas …