Bloomberg The stock rally powered by bets on a speedy global economic recovery from the pandemic paused for breath on Thursday as equities struggled in Europe and Asia. The dollar climbed after five consecutive sessions of declines. The Stoxx 600 Index opened lower for the first time this week, hours before the European Central Bank announces its policy decision. Futures …

Bloomberg Indian equities dropped on Thursday as investors paused for breath after the longest winning run since November. The S&P BSE Sensex and NSE Nifty 50 Index fell 0.9% each as of 12:39 pm in Mumbai, after earlier rising as much as 0.6% each. Both gauges are still trading close to their highest in almost three months — levels seen …

Bloomberg Philippine stocks climbed the most in Asia, rounding their best seven-day rally in more than two decades, on optimism the economic fallout from the coronavirus outbreak won’t be as bad as feared after the central-bank governor said monetary-easing steps were appropriate. The Philippine Stock Exchange Index climbed 4.4% on Thursday, taking its seven-day rebound to almost 19%. The peso …

Bloomberg Oil erased gains as the Opec+ meeting was put in doubt over cheating by some nations on their output-cuts deal. The producer group won’t hold an early meeting on June 4, and a scheduled gathering next week was also threatened, unless all nations first agree to cut output by as much as they promised, according to people familiar with …

Bloomberg China probably won’t hit its nuclear energy target this year, but that’s unlikely to derail a broader ambition to become the planet’s chief proponent of the climate-friendly fuel by the end of the decade. In an energy mix that’ll still heavily feature coal and other fossil fuels, government researchers have said that nuclear capacity could more than double to …

Bloomberg New solar and wind farms will soon cost less than many of the world’s coal-fired power plants, and governments should invest in them to boost economies amid the coronavirus, according to the International Renewable Energy Agency. Coal plants with a capacity of up to 1,200 gigawatts will probably be more expensive to run by next year than new, large-scale …

Bloomberg Infigen Energy, one of Australia’s biggest wind-farm operators, has received a takeover offer from a group backed by the Philippines’ Ayala Corp valuing the company at A$777 million ($542 million). The A$0.80-per-share bid from UAC Energy Holdings Pty is at a 36% premium to Infigen’s closing price. UAC, which is 75% controlled by Ayala, has already acquired a 12.8% …

Bloomberg Deutsche Lufthansa AG signalled it would make sweeping job cuts and sell off non-core units in order to repay a $10 billion coronavirus bailout from the German government. Europe’s biggest airline will slash employee expenses and look at spinning off non-core units to reduce costs and bolster cash flow as the coronavirus crisis depresses revenue, it said in a …

Bloomberg Celebrity makeup brand Charlotte Tilbury is nearing a sale to Puig, the Spanish company behind Paco Rabanne perfumes, in a deal valuing the business at more than $1 billion, people familiar with the matter said. An agreement to buy UK-based Tilbury could be announced as early as this week, said the people, who asked not to be identified because …

Bloomberg Indonesia’s Lion Air said it is halting all flights indefinitely because of the impact coronavirus-related measures such as compulsory tests for passengers have had on travel. The carrier, whose slogan is “we make people fly,” is grounding its fleet from Friday, according to a statement. It had suspended scheduled domestic flights late last month. Lion Air has 138 aircraft, …