Bloomberg South Korea’s two biggest airlines plan to merge, with Korean Air Lines Co acquiring Asiana Airlines Inc for 1.8 trillion won ($1.6 billion) following an injection via its parent, Hanjin Kal Corp. The main goal of the acquisition is to stabilise South Korea’s aviation industry amid the coronavirus pandemic and improve its competitiveness, said Hanjin Group, which operates airlines …

Bloomberg Reliance Retail Ventures Ltd acquired a 96% stake in Urban Ladder, an online furniture seller for 1.82 billion rupees ($24.4 million), expanding the company’s reach in the world’s second-most populous nation. The unit of Reliance Industries Ltd plans to invest a further 750 million rupees in the next three years, it said in a statement. It also said it …

Bloomberg SM Investments Corp, the owner of the Philippines’ largest mall operator, is speeding up efforts to develop “omni-channel” options for shoppers as people shift to a mix of online and in-store purchases amid the coronavirus pandemic. The group is tapping personal shoppers, ramping up delivery and pick-up services, and boosting its online presence, said Steven Tan, president of SM …

Bloomberg Walmart Inc is selling most of Japanese retailer Seiyu to KKR & Co and Rakuten Inc in a deal that values the supermarket chain at 172.5 billion yen ($1.6 billion), as the US giant retreats from its two-decade attempt to crack Japan’s retail market. Under the agreement, private equity fund KKR will become the majority owner with a 65% …

Bloomberg American Airlines Group Inc said it’s reducing flights from major US airports to London next month due to low demand, damping hopes that the holiday season would facilitate a recovery in travel. The airline will stop London flights from New York, Chicago and Charlotte, North Carolina, in December. Passengers can travel to London via its partner British Airways from …

Bloomberg Online searches for flights from Hong Kong to Singapore surged 300% within three hours of the announcement an air travel bubble would open between the two financial hubs on November 22, according to Trip.com. Searches for Singapore to Hong Kong flights jumped 200%, and volume climbed for hotels in both cities as well, the online travel services provider said. …

Bloomberg European stocks followed Asian shares and US futures higher on Monday, buoyed by positive sentiment on trade and signs of opposition to a national American lockdown. The dollar fell. The Stoxx Europe 600 opened higher, with Vodafone Group Plc shares climbing after the firm beat estimates and said it expects sales to recover from a first half dominated by …

Bloomberg The world’s largest regional free-trade agreement between Asian nations and the ruling out of a national US lockdown boosted sentiment to put Asia Pacific stocks on course to close at an all-time high. The MSCI Asia Pacific Index rallied as much as 1.5% to 187.70, helped by gains in heavyweights like Samsung Electronics Co and Taiwan Semiconductor Manufacturing Co. …

Bloomberg Oil markets may be cheering the prospects of a coronavirus vaccine, but Opec+ can’t celebrate. Crude prices have rallied to a 10-week high on hopes that Pfizer Inc. and BioNTech SE’s breakthrough could soon revive the flights, car journeys and other economic activity that underpin fuel consumption. Nonetheless, the alliance of producers led by Saudi Arabia and Russia is …

Bloomberg State Grid Corp of China will pay 2.57 billion euros ($3 billion) for an electricity network company in Chile, its first overseas deal in almost a year and a move that resumes its expansion abroad. The Spanish natural gas and power company Naturgy Energy Group SA said it agreed to sell its 96% stake in Chilean electricity networks unit …