Bloomberg The German government settled a dispute with the European Commission over a 9 billion-euro ($9.9 billion) bailout of Deutsche Lufthansa AG, clearing the way for the carrier to accept the rescue package. After intensive talks, the commission and the German government agreed that Lufthansa will reduce the number of aircraft it keeps at Frankfurt and Munich airports. Lufthansa in ...

Bloomberg Southwest Airlines Co CEO Gary Kelly predicted that intense competition for passengers will create “a brutal low-fare environment” among carriers once coronavirus fears subside and more people start to fly. Even with capacity cuts, the number of available airline seats will still far outnumber customers in the near term, the chief executive officer said in a video message to ...

Bloomberg South African Airways’ bankruptcy administrators submitted a business rescue plan to the government, creditors and labour unions and will begin discussions on it next week. The so-called Business Rescue Practitioners have asked for an extension to their contract until June 8 to complete the work, they said. The airline has been unprofitable since 2011 and has been surviving on ...

Bloomberg Walmart Inc is jumping into the fast-growing resale clothing market to give its apparel offering a shot in the arm and diversify its e-commerce business beyond groceries and consumer staples. The world’s largest retailer is partnering with ThredUp, an online secondhand apparel company, to sell used women’s and children’s clothing on its website. Accessories and handbags, as well as ...

Bloomberg President Donald Trump said the US will terminate its relationship with the World Health Organization (WHO), which he has accused of being too deferential to China and of failing to provide accurate information about the spread of the coronavirus. “We have detailed reforms that they must make and engage with them directly, but they have refused to act,” Trump ...

Bloomberg Joe Biden denounced the unjust treatment of African Americans and called on Americans to take an active role in combating racism, as he assailed President Donald Trump’s leadership after a black man was killed in police custody in Minnesota. Biden, the presumptive Democratic nominee, delivered brief remarks in a speech streamed live on his website, as he sought to ...

Bloomberg Newly declassified transcripts confirm that Michael Flynn, who became President Donald Trump’s first national security adviser, discussed US sanctions with Russia’s Ambassador Sergey Kislyak before Trump’s inauguration. The transcripts from late 2016 and early 2017 that were released by Republican senators show Flynn urged Kislyak to keep the temperature down between the two countries and to limit Russia’s response ...

Bloomberg Italy’s health minister confirmed the country can go ahead with the plan to start allowing travel across the nation next week, even as some local governors oppose letting people from the hard-hit Lombardy region move freely. Data on the spread of the virus is improving and allows for the reopening among regions, Health Minister Roberto Speranza told newswire Ansa. ...

Bloomberg President Donald Trump’s long-touted response to China for its crackdown on Hong Kong included a barrage of criticism but stopped short of fully escalating tensions between the two nations. While the US president’s speech was heated in rhetoric, it lacked specifics around measures that would directly impact Beijing. He announced the US would begin the process of stripping some ...

Bloomberg Canada cut the projected cost of its wage subsidy program while boosting the price tag for direct support to individuals, suggesting a slow return to work in the wake of Covid-19. The federal government’s wage subsidy program, meant to be its flagship measure to buffer the economy from the pandemic, will cost C$45 billion ($33 billion), 38% less than ...