Bloomberg IndiGo, Asia’s biggest budget airline by market value, reversed a decision to slash employee salaries after the Indian government urged companies to avoid such practices, according to people with direct knowledge of the matter. The airline, operated by InterGlobe Aviation Ltd., had proposed pay cuts of as much as 15% for most staff but will no longer go through ...

Bloomberg Richie Merzian is still thinking about oil a lot in his professional capacity, but these days he’s using much less of it. The Australian energy and climate change researcher used to drive daily to his office and his kids’ daycare, while occasionally flying to international conferences. Now he works from his home in suburban Canberra and makes presentations to ...

Bloomberg South Africa’s power utility warned coal suppliers it may halt purchases of the fuel because a nationwide lockdown to deal with the coronavirus pandemic has curtailed demand for electricity. The force-majeure notice Eskom Holdings SOC Ltd issued to miners follows a similar instruction to wind-power producers two weeks ago as the utility struggles to honor contractual agreements. It’s another ...

Bloomberg Italy and Germany showed signs that they’re beginning to consume more electricity, suggesting economic activity may be starting to increase in some corners of Europe hardest hit by the coronavirus. In France and Spain, power use was steady in the past week, while Britain suffered a further slump. Those findings from grid operators shed light on how lockdowns to ...

Bloomberg New Jersey Governor Phil Murphy will need more space in the Atlantic Ocean to meet his goal to get half the state’s electricity from offshore wind farms. There aren’t enough federal leases available off the coast of New York and New Jersey to supply the 7.5 gigawatts of wind farms that Murphy wants to develop by 2035, said Jim ...

Bloomberg European stocks dropped with US futures on Thursday as investors weighed the latest signs of the coronavirus’s impact on the global economy and a slew of corporate earnings. Crude oil rose to about $15 a barrel in New York. The Stoxx Europe 600 Index quickly erased its opening gain as an estimate of private-sector activity in the euro area ...

Bloomberg Indian stocks rose, set for a second straight day of gains, as investors bought riskier assets amid a partial easing of the nationwide lockdown and signs of the coronavirus outbreak easing globally. The S&P BSE Sensex climbed 9% to 31,673.78 as of 1:19 pm in Mumbai, while the NSE Nifty 50 Index advanced by the same magnitude. Both measures ...

Bloomberg Credit Suisse Group AG is setting aside more than $1 billion to cover writedowns and provisions for bad loans, the biggest such hit in more than a decade as the coronavirus pummels economic activity across the globe. The bank is holding back 568 million Swiss francs ($585 million) for credit losses, almost triple what analysts had been expecting, and ...

Bloomberg Standard Bank Group Ltd. said first-quarter net income declined 27% after Africa’s largest lender prepared for a surge in loan defaults as measures to contain the coronavirus batter business and personal incomes alike. Credit-impairment charges for the three months through March were “significantly higher” than in the prior year, the Johannesburg-based company said in a statement. “The increase was ...

Bloomberg A former Deutsche Bank AG veteran’s Japanese cryptocurrency exchange is poised to start trading services just as Bitcoin shows signs of a recovery from coronavirus-fuelled turmoil. More than two years after its foundation, FXcoin Ltd. plans to offer Bitcoin transactions on its platform from May, it said in a statement on Thursday. The firm has recently begun accepting applications ...