Bloomberg India must keep public finances relatively healthy to stave off a possible second wave of risks in the financial sector once the coronavirus crisis abates, said a former central bank governor. While calls for a stimulus are rising, India cannot risk a significant widening of its perpetually high budget deficit, Urjit Patel wrote in the Financial Express newspaper. He ...

Bloomberg Credit Suisse Group AG dropped off the initial public offering (IPO) of one of China’s top online health-care startups, dealing a fresh blow to its business taking companies in the region public after the Swiss bank was sued for its role on Luckin Coffee Inc.’s US share sale. The Swiss bank is no longer working on the WeDoctor deal, ...

Bloomberg Wells Fargo & Co. said it can’t fully meet demand from small businesses rushing to participate in a US relief program because of constraints imposed by the Federal Reserve on the bank’s growth. The company has capacity to lend $10 billion to small-business clients under the $349 billion US program, but customers already have expressed more interest than that, ...

Bloomberg African central banks have joined the global wave of emergency meetings and unusual measures to cushion their economies against the impact of the coronavirus pandemic. While many of the central banks in the region target inflation and have to prop up volatile currencies, they’ve also used non-traditional policy tools in addition to aggressively cutting interest rates to salvage economic ...

Bloomberg The Bank of Japan (BOJ) set itself up to buy more bonds in the key 5-to-10 year maturities, showing an intent to maintain yield-curve control amid growing expectations of further debt-fueled stimulus from the government. The central bank offered to buy 350 billion yen ($3.2 billion) of the tenor on Monday, the same as the previous regular operation. That’s ...

Bloomberg The most dramatic contraction in civil aviation history poses a challenge for Airbus SE in how to balance its response. Factories that churned out aircraft in record numbers before the coronavirus crisis face an unprecedented production cut. But retreating too far risks leaving the company wrong-footed in a rebound and diluting its advantage over Boeing Co. Airbus warned last ...

Bloomberg EasyJet Plc borrowed 1.1 billion pounds ($1.35 billion) to shore up its finances during the coronavirus pandemic, tapping into a UK guarantee programme in defiance of founder Stelios Haji-Ioannou’s escalating activist campaign. The UK discount carrier accessed 600 million pounds in Bank of England-backed commercial paper and requested to draw down 500 million pounds from an existing facility that’s ...

Bloomberg Struggling UK retailer Debenhams Plc moved to protect itself from creditors after closing its stores because of the coronavirus. The department-store chain filed a notice of intent to appoint administrators under UK insolvency procedures. The company said the goal was to avoid being pushed into liquidation as it eyes reopening after virus-related restrictions are eased. Debenhams envisions what it ...

Bloomberg Retailers have a new tool to use in the scuffle between landlords and tenants: a court ruling that could help them withhold rent. Pier 1 Imports Inc is the latest retailer to seize on the precedent, asking a judge to let it skip rent payments amid the coronavirus outbreak that has shuttered stores across the US. The judge overseeing ...

Bloomberg American Airlines Group slashes daily flights from New York-area airports by 95%, joining United Airlines Holdings Inc in eliminating most operations in the nation’s largest city as the increase in Covid-19 cases guts travel demand. Daily departures from New York’s LaGuardia airport tumbled to eight from Tuesday through May 6, with a drop to three at John F Kennedy ...