Bloomberg Deutsche Lufthansa AG asked shareholders for permission to raise 5.5 billion euros ($6.6. billion) in fresh capital, calling it a necessary step to repair the stricken carrier’s balance sheet after the coronavirus pandemic punctured a decades-long boom in air travel. At the airline’s annual meeting on Tuesday, Chief Executive Officer Carsten Spohr implored investors to back the motion, which …

Bloomberg Estee Lauder Cos reported quarterly sales that came in short of analysts’ estimates despite early signs of travel bouncing back. Sales rose in every region but didn’t meet expectations, with demand for makeup still stifled as customers don’t see many occasions to wear cosmetics like lipstick. Global net sales for the fiscal third quarter ended March 31 rose 16% …

Bloomberg Pandora A/S, which makes more pieces of jewellery than any other company in the world, will stop using mined diamonds as part of a broader strategy to drop raw materials associated with unethical production methods. Despite decades of reform, the global jewellery market remains tainted by reports of human rights abuses at mines and factories. To address such concerns, …

Bloomberg Mousse Partners, the family office for one of the world’s largest fortunes, is reshaping one of its biggest bets. The investment firm for the family behind luxury brand Chanel has sold most of its stake in Ulta Beauty Inc, an investment held for at least 14 years that’s returned more than 1,700%. Since late March, the firm that manages …

Bloomberg Malaysia Airlines Bhd said air travel demand will remain subdued and it expects a full recovery after the end of 2023, amid a resurgence of Covid cases in many countries. The national flag carrier has cut more than 1,500 jobs and plans to reduce capacity further as part of the restructuring it began in October, CEO Izham Ismail said …

Bloomberg A coalition of airline and travel groups urged the US and the UK governments to lift travel restrictions between the two nations, citing the growth in vaccinations and other tools that limit the spread of Covid-19. Officials should announce reopening before the Group of Seven economic talks scheduled for June, the groups said in joint letters to President Joe …

Bloomberg Australia’s central bank will maintain its highly supportive policy settings despite surging growth and falling unemployment, as it faces up to the even bigger challenge of lifting wages and inflation from record lows. Reserve Bank of Australia Governor Philip Lowe is set to keep interest rates and three-year yield target unchanged at 0.10%, while maintaining the current pace of …

Bloomberg Bank of America Corp (BofA) is devoting more resources to fighting cyber attacks after seeing a jump in threats amid the pandemic. The company’s centralised global information-security unit has boosted spending in recent years to about $1 billion annually, according to chief operations and technology officer Cathy Bessant. That’s mostly allocated to staff and technology to bolster cyber defenses. …

Bloomberg Credit Suisse Group AG Chairman Antonio-Horta Osorio bought 1.1 million francs ($1.2 million) of shares in a sign of confidence he can turn the bank around from one of the most turbulent periods in its history. An undisclosed board member bought the stock, according to a Swiss stock exchange filing dated May 3. A spokesperson for the bank confirmed …

Bloomberg Yes Bank Ltd, once at the center of India’s biggest financial bailout, will turn its focus on boosting lending to businesses this year after succeeding in winning back depositors, Chief Executive Officer Prashant Kumar said. Regaining depositors and raising capital were first order of business for Kumar, who took over the reins of Yes Bank in March 2020 after …