Bloomberg Chevron agreed to buy Noble Energy Inc for about $5 billion in shares. The takeover is the first major deal since the coronavirus triggered a severe oil slump. It’s a clear vote of confidence in the future of the US shale industry even as it struggles to adapt to lower crude prices. “Our strong balance sheet and financial discipline …

Bloomberg Airbus SE called for increased UK investment in sustainable aviation to supplement budgets strained by the coronavirus crisis and help safeguard the country’s position as a major player in the industry. Chief Executive Officer Guillaume Faury, speaking on a panel on Monday for the virtual Farnborough Air Show, said Britain has put advances in decarbonisation and digitisation high on …

Bloomberg Even in a world of retail upheaval, J Jill Inc has had a more dramatic ride than most — and that was before the pandemic. Just three years after a highly anticipated initial public offering, J Jill’s stock is flirting with zero and the company is trying to fend off bankruptcy. The women’s clothing chain warned its survival was …

Bloomberg Global airline passenger demand won’t recover to pre-coronavirus pandemic levels until the end of 2023, and only then if effective vaccines and medicines are available, according to Moody’s Investors Service. The recovery for airlines and airports will be largely aligned, followed by aircraft lessors as carriers return fleets to service, Moody’s analysts including Jonathan Root wrote in a report. …

Bloomberg Colombia is scaling back a planned $2.5 billion expansion of one of Latin America’s busiest airports after the Covid-19 pandemic caused a collapse in air travel. Bogota’s El Dorado airport, the country’s biggest, was set for an upgrade to more than double capacity to about 80 million passengers a year by 2050, from the roughly 35 million it saw …

Bloomberg ASOS Plc, Marks & Spencer Group Plc and Walmart Inc’s Asda are among retailers calling for greater protection of garment factory workers in Britain in the wake of labour abuse reports at a site supplying Boohoo Group Plc. More than 90 retailers, lawmakers and investors signed an open letter to Home Secretary Priti Patel urging immediate action. The joint …

Bloomberg Deutsche Lufthansa AG is unlikely to take delivery of all 80 of the jets it’s allowed to accept through 2023 under terms of a $10.3 billion government bailout, according to a person familiar with the matter. The German airline will instead prioritise quick repayment of the aid, said the person, who asked not to be identified discussing confidential matters. …

Bloomberg Global banks including Citigroup Inc. and UBS Group AG are suspending their return-to-office plans in Hong Kong after the city reported a daily record of more than 100 new coronavirus cases. Citigroup, which had already asked as many as 70% of staff to work from home last week, is now asking most people to do so starting Monday, according …

Bloomberg Standard Chartered Plc plans to add more than 1,600 staff over the next three years at a new center in southern China as the nation aims to transform the coastal region near Hong Kong into a high-tech hub to rival California’s Silicon Valley. The London-based bank is investing $40 million in the Standard Chartered Greater Bay Area Centre in …

Bloomberg China’s cash-strapped small lenders are expanding their pile of the riskiest kind of bank debt to shore up their capital levels, bracing against an economic slowdown, rising loan defaults. A total of 19 banks have sold 339.6 billion yuan ($48.5 billion) perpetual bonds, high-yielding subordinated bonds with no maturity dates this year, according to data compiled by Bloomberg. Smaller …