Bloomberg South Korea’s benchmark stock index erased its gain for the year on renewed outflow of foreign funds amid worries that the new Covid-19 variant could hamper the global economic recovery. The equity benchmark falls 2.4%, with losses accelerating in the afternoon following a Financial Times that Moderna Inc’s CEO said existing vaccines may struggle against the omicron strain. The …

Bloomberg Oil pared gains in volatile trading after rebounding from one of its biggest daily drops as traders weighed the risks to demand from the omicron variant of Covid-19 and the potential response by Opec and its allies. Futures in New York were up about 3.5% on Monday after earlier rallying as much as 7%. The World Health Organisation warned …

Bloomberg BP Plc plans to build a green hydrogen facility in northeast England that could start producing the gas by 2025, part of a massive project to help the oil major transition towards cleaner sources of energy. The HyGreen Teesside proposal follows one made earlier this year to develop a blue hydrogen facility in the same location. That would produce …

Bloomberg Airlines, passengers and businesses had to respond to a deluge of travel restrictions introduced to slow the spread of the omicron coronavirus variant. An initial spate of flight bans from southern Africa, where omicron was first detected, gave way to wider-ranging measures that will make travel more expensive and less convenient — if possible at all — recalling earlier …

Bloomberg Airbus SE needs to accelerate jetliner deliveries in December if it’s to reach a goal of shipping 600 planes this year, according to people with knowledge of the situation. The European manufacturer’s 2021 delivery tally reached 500 aircraft, according to the people, who asked not to be named before official numbers are published. That leaves Airbus about 100 short …

Bloomberg Uganda is seeking to amend a loan agreement it signed with China in 2015 to ensure the government doesn’t lose control of the nation’s only international airport, the Monitor newspaper reported, citing people with knowledge of the matter. The East African nation borrowed $200 million from the Export-Import Bank of China to expand the Entebbe airport, according to the …

Bloomberg Britain’s billionaire Issa brothers are considering merging UK grocer Asda Group with EG Group, their international chain of gas stations and convenience stores, people with knowledge of the matter said. The Issas are studying a range of strategic alternatives for EG Group, which they own together with buyout firm TDR Capital, the people said, asking not to be identified …

Bloomberg As Americans celebrated Thanksgiving with turkey prices at record highs, another poultry dish that’s a beloved holiday tradition could be in short supply: fried chicken in Japan. Convenience stores in Japan like 7-Eleven and FamilyMart are running low on fried chicken for their holiday platters due to plant closures in Thailand, one of the world’s major chicken producers, following …

Bloomberg The investment firm for one of the world’s biggest retail fortunes is boosting its private equity bets after stepping back from public markets. David Sainsbury, whose great-grandfather founded supermarket chain J Sainsbury Plc, plans to put as much as 253 million pounds ($337 million) into private equity funds through his family office, Innotech Advisers, according to a UK registry …

Bloomberg An unstoppable ascent in the renminbi is signalling Beijing’s growing ease with gradually freeing up one of the world’s most tightly-managed currencies. Since the renminbi hit a six-year high on a trade-weighted basis on November 17, the People’s Bank of China (PBOC) has set the currency’s daily reference rate at only mildly weaker-than-expected levels. The central bank also has …