Bloomberg China’s almost-trillion dollar hedge fund industry risks worsening the turmoil in its stock market as deepening portfolio losses trigger forced selling by some managers. About 2,350 stock-related hedge funds last month dropped below a threshold that typically activates clauses requiring them to slash exposures, with many headed towards a level that mandates liquidation, according to an industry data …

Bloomberg EasyJet Plc reported a surge in summer bookings while saying there’s still too much uncertainty over demand to provide an outlook for the fiscal year ending in September. Sales over the past 10 weeks are running 6% ahead of 2019 levels, Luton, England-based EasyJet said after reporting a narrower first-half loss. Yet almost two-thirds of seats for the crucial …

  Bloomberg Hong Kong Airlines Ltd has asked pilots to take several months leave on sharply reduced pay as Covid-19 lockdowns in China snarl supply chains, weakening demand for air freight — the carrier’s key source of income during the pandemic. The financially troubled carrier is calling for volunteers to take leave starting in June through until the end of …

  Bloomberg Business travel is returning for Singapore Airlines Ltd, with forward bookings accounting for a similar proportion of ticket sales as before the Covid pandemic now that border restrictions have been lifted. “Since April of this year, when Singapore fully opened its borders, we have seen a strong rebound in corporate travel,” the carrier’s executive vice president of commercial …

  Bloomberg Losses for Walmart Inc and Target Corp are mounting as investors fled the stocks after the US retail giants cut their growth outlook for 2022 — an industry wide warning that inflation is denting consumer expenditures across the country. Walmart fell 6.6% after posting its biggest one-day decline since 1987 the prior day when it cut its full-year …

  Bloomberg China’s aviation industry lost a combined 84.3 billion yuan ($12.5 billion) last year, as the country kept its borders closed to keep out Covid-19. A rebound in domestic travel to pre-pandemic levels helped narrow total losses from 97.4 billion yuan in 2020, China’s aviation regulator said Thursday. Sales by airlines and airports rose 22% last year, but that …

  Bloomberg British Airways owner IAG SA agreed to buy 50 737 Max jets from Boeing Co, giving a lift to the beleaguered US planemaker and concluding a widely watched commitment for 200 aircraft originally agreed three years ago. The jets, which include 25 high-capacity Max 200s and 25 as-yet-uncertified Max 10s, can be used by any airline in the …

  Bloomberg Chinese banks may cut their benchmark lending rates for a second time this year, giving consumers and businesses some relief as Covid-19 lockdowns and outbreaks wreak havoc on the economy. The one-year loan prime rate — the de facto benchmark lending rate — will likely be reduced by 5-10 basis points from 3.7% on Friday, according to 11 …

  Bloomberg Goldman Sachs Group Inc. is losing its most powerful Black women, according to new data the firm released in a report on its website. The bank had 19 Black women among its executives and senior officials as of November 2021, the bank said, down from 25 a year earlier, while the 24 Black men in that top rank …

  Bloomberg Some of the world’s biggest banks haven’t moved enough senior staff into the European Union (EU) after Brexit, the bloc’s top regulator has concluded, an assessment that will likely lead to renewed pressure for more job moves to the EU. An exercise by the European Central Bank (ECB), known as “desk mapping,” found that several of the lenders reviewed …