Bloomberg The mood at Deutsche Bank AG’s headquarters in Frankfurt was tense. It was late March, and clients were drawing down credit lines at such a rapid pace that the bank’s treasury department was on alert. Liquidity never was an issue, according to a person familiar with the matter. But the episode, which also attracted the attention of the European ...

Bloomberg US airlines face a bleak future of depressed traffic and volatile revenue well into 2021, as the global economy transitions from the acute damage of a public health catastrophe into a potentially long recession. Already a bumpy ride for the “Big Three” carriers, the journey promises to get worse this fall when billions of dollars in government assistance comes ...

Bloomberg Airbus SE will furlough around 3,000 staff across three French sites just as employees at its UK wing plants prepare to return to work following extended Easter shutdowns tied to the coronavirus outbreak. The staff at commercial aircraft sites in Toulouse, Nantes and Saint-Nazaire were expected to be on leave from Monday until mid-May following an accord with unions, ...

Bloomberg British billionaire Richard Branson said his airlines in the UK and Australia won’t survive the coronavirus crisis without state support, and that his Virgin Group lacks the resources to see them through the pandemic. Branson said on Monday he’s doing everything possible to keep Crawley, England-based Virgin Atlantic Airways Ltd going, but that it needs a UK-backed loan to ...

Bloomberg Zilingo, a fashion technology platform backed by Temasek Holdings Pte, has cut 5% of its 900-strong global workforce as part of a strategy to refocus on Asia and emerging markets, according to a person familiar with the matter. The Singapore-based startup dismissed 44 employees, including about 30 in the city-state, according to the person, who asked not to be ...

Bloomberg China Development Bank Financial Leasing Co cancelled an order for 29 Boeing Co 737 Max planes, worth at least $2.9 billion based on list prices, joining a growing list of customers scaling back plans for buying the grounded jet. The move cuts the company’s outstanding Max order to 70, it said in a statement to the Hong Kong stock ...

ABU DHABI / WAM The emirate of Abu Dhabi on April 8 priced a $7 billion multi-tranche international bond offering, which attracted strong interest from international investors. In a statement on Sunday, Abu Dhabi Department of Finance said the successful issuance is an integral component of Abu Dhabi’s medium-term strategy focused on optimisng the capital structure of the emirate. The ...

ABU DHABI / WAM The UAE central bank announced on Sunday that gross bank assets for March had reached AED3.128 trillion, a growth of 1.1 percent from the previous month. In a statement, the central bank noted that money supply aggregate M1 had increased by 2.5 percent last month, reaching AED542.7 billion compared to February figures (AED529.4 billion). It added ...

Abu Dhabi / WAM The UAE  has sent a plane carrying 18 metric tons of medical and food aid to Mauritania as a gesture of solidarity in the fight against the Covid-19 pandemic. The shipment, which contained testing kits, medical devices, and food supplies, will assist approximately 10,000 healthcare workers in Mauritania as they work to contain spread of Covid-19. ...

Bloomberg The guardians of the global economy came up short. Facing what the International Monetary Fund (IMF) says is a crisis like no other, policy makers from leading economies agreed this past week on a set of initiatives to help emerging markets and poor nations weather the coronavirus shock, including a path-breaking halt on debt payments. But critics faulted the ...