Bloomberg LVMH countersued Tiffany & Co weeks after pulling out of its $16 billion purchase of the iconic New York-based jeweller, saying the decision was driven by the French government’s request to delay the deal’s closing and Tiffany’s mismanagement during the pandemic. The maker of Louis Vuitton bags contends Tiffany’s business was devastated by the coronavirus outbreak and that provides …

Bloomberg Airbus SE is considering reduced working time in production areas in France over the next two years to help the European planemaker limit job losses prompted by a collapse in global air travel due to Covid-19. The move would help it preserve skills in order to restart single-aisle aircraft production at rates similar to last year between 2023 and …

Bloomberg ANA Holdings tumbled as much as 8.5% in Tokyo trading on September 28, its biggest intraday drop since April 1, after a report the airline is considering raising $1.9 billion via a public share offering. The Japanese carrier is also planning to cut costs by selling aircraft and disposing of non-core businesses, Nikkei reported, without saying where it got …

Bloomberg The end-of-month rebound in global equities faded as investors assessed a scaled-back fiscal stimulus proposal in the US against the rising toll of the coronavirus pandemic. European share declines were led by banks and other cyclical stocks. The pound added to gains amid speculation that successful Brexit trade talks could help shield Britain from a messy rupture with the …

Bloomberg A meteoric rally in an Australian penny stock is fast unravelling after confounding not just market watchers but also the company’s CEO. BrainChip Holdings Ltd., an artificial intelligence-focused startup whose flagship product is yet to be made widely available for commercial use, saw its 2020 gains propel to 1,500% earlier this month. While concerns about overheating have seen the …

Bloomberg India’s benchmark equity index swung between gains and losses as banks and telecom stocks offset the boost provided by software exporters. The S&P BSE sensex was little changed at 37,976.18 after swinging between gains of as much as 0.7% and a decline of 0.3%, as of 10:56 am in Mumbai. The NSE Nifty 50 Index was also steady. The …

Bloomberg Oil has wavered on growing doubts over demand prospects with more potential lockdown measures on the way to combat the virus. The market was earlier buoyed by the dollar’s biggest slide in almost four weeks, which made commodities priced in greenback more attractive, as well as a bounceback in equities. Futures in London as much as 1.2% before paring …

Bloomberg Devon Energy Corp agreed to acquire WPX Energy Inc in a $2.56 billion all-stock deal, creating one of the largest independent US shale producers and answering investor calls for consolidation at a time of crisis for the sector. Devon shareholders will own about 57 percent of the combined company, Devon and WPX said on Monday in a statement. The …

Bloomberg The top US aviation regulator plans to test-fly Boeing Co’s grounded 737 Max in an attempt to show an antsy public that proposed fixes will be safe, according to a notification sent to Congress. Federal Aviation Administration (FAA) chief Steve Dickson, who is licensed to fly the 737 along with several other jetliners from his time as a pilot …

Bloomberg Delta Air Lines Inc warned it would take a pretax accounting charge of $2 billion to $2.5 billion after deciding to remove three aircraft types from its fleet amid an unprecedented collapse in air travel. The noncash impairment will be recorded in third-quarter results, which are due next month, Delta said in a regulatory filing. The company will retire …