Bloomberg Don’t expect an LNG buying binge ahead of winter from the world’s fastest growing consumer of the fuel. China will likely pull back on spot purchases of liquefied natural gas (LNG) before the peak demand season as a flurry of earlier bargain buying nearly maxed out storage space. “There is a big question about whether demand will recover enough …

Bloomberg Virgin Atlantic Airways Ltd is set to find out whether it has enough support from creditors for a 1.2 billion-pound ($1.6 billion) rescue or if it will need a judge to overrule them in order to stave off collapse. The UK carrier founded and controlled by billionaire Richard Branson has already secured the backing of three creditor classes and …

Bloomberg Qantas Airways Ltd plans to cut as many as 2,500 more jobs by offloading ground operations like baggage handling and aircraft cleaning as the cost of the coronavirus pandemic mounts. The reductions follow previously announced plans to eliminate 6,000 jobs, or 20% of the workforce, the airline said in a statement on Tuesday. “Airlines have to change how they …

Bloomberg The Trump administration gave American Airlines Group Inc emergency approval to deploy a new weapon against Covid-19: a surface coating that kills coronaviruses for as many as seven days. The Environmental Protection Agency (EPA) issued the emergency declaration for Allied BioScience Inc’s SurfaceWise2 product, allowing it to be used in some American Airlines planes and airport facilities, as well …

Bloomberg Japan’s second-largest convenience store operator FamilyMart Co will become a wholly owned subsidiary of top shareholder Itochu Corp after the trading house succeeded in its tender offer for the retailer’s shares. The deal will lift Itochu’s stake in FamilyMart to 65.7% from 50%, allowing the trading company to begin the process of delisting the convenience store operator from the …

Bloomberg Finland’s national carrier Finnair Oyj plans to eliminate as much as 15% of its workforce and push through deeper cost cuts in an effort to survive one of the worst crises in aviation history. The airline will slash a maximum of 1,000 jobs and lay off “practically all of its personnel in Finland,” it said on Tuesday. Finnair also …

Bloomberg Women’s activewear retailer Sweaty Betty is preparing to put itself on the block, according to people with knowledge of the matter. The London-based company could fetch about 400 million pounds ($524 million) in a transaction, according to one of the people, who asked not to be identified because the deliberations are private. Potential suitors could include large retailers or …

Bloomberg China’s mega banks are ramping up their recruitment of fresh graduates as a record number enter the labour market, joining other state-owned firms in boosting employment even as lenders deal with plunging earnings and ballooning bad debt. The four biggest state banks, led by Industrial & Commercial Bank of China Ltd., (ICBC) this month kicked off their autumn campus …

Bloomberg JPMorgan Chase & Co. needs to pay at least 7 billion yuan ($1 billion) if it proceeds to buy out its counterpart in its Chinese mutual fund business, a pricey premium for the US bank that has ambitions to expand in China’s finance sector. JPMorgan’s business partner Shanghai International Trust Co. said it agreed to sell its 49% stake …

Bloomberg India’s central bank said demand in the economy is likely to take more time to mend in the absence of greater fiscal support, even as the government is constrained in its ability to provide more stimulus. “An assessment of aggregate demand during the year so far suggests that the shock to consumption is severe,” the Reserve Bank of India …