Bloomberg Korean Air Lines Co plans to sell new shares to raise about 1 trillion won ($817 million) after the coronavirus outbreak wiped out 90% of its flights. The Seoul-based carrier aims to sell about 79.4 million new shares to existing holders in July, it said in a regulatory filing. The price is initially estimated at 12,600 won a share, …

Bloomberg UK Prime Minister Boris Johnson said the global aviation industry needs to limit carbon-dioxide emissions once air travel resumes following the coronavirus crisis. “Inadvertently this year the planet will greatly reduce its CO2 emissions,” Johnson said. “We need to entrench those gains. I don’t want to see us going back to an era of the same kind of emissions …

Bloomberg Brookfield Asset Management Inc and Indian aviation tycoon Rahul Bhatia are considering bids for Virgin Australia Holdings Ltd, joining a score of suitors seeking to capitalise on Asia’s first airline casualty from the coronavirus pandemic, people with knowledge of the matter said. The Canadian investment firm, which manages more than $540 billion, is planning to make its own indicative …

Bloomberg US equity futures dropped ahead of the latest American jobless data and as President Donald Trump floated cutting ties between the world’s two biggest economies. Treasuries gained alongside the dollar. Contracts on the main US equity benchmarks extended declines after Trump said in a TV interview that he doesn’t want to talk to China’s President Xi Jinping “right now.” …

Bloomberg India stocks fell, retreating from Wednesday’s biggest gain in almost two weeks, as investors mulled the detail of a government stimulus package aimed at spurring the economy. The S&P BSE Sensex dropped 1.3% to 31,593.08 as of 9:34 am in Mumbai, while the NSE Nifty 50 Index lost 1.2%. Almost half of the $265 billion rescue package — equivalent …

Bloomberg Yale University’s publicly disclosed US stock portfolio surged in value last quarter as endowment added exchange-traded funds and technology shares during the coronavirus-fuelled market plunge. The endowment’s equities increased to $267.4 million as of the end of March from $62.8 million at the end of last year as Ivy League school greatly expanded its holding in the SPDR S&P …

NEW YORK / WAM The UAE has emphasised that multilateralism and international cooperation remain essential to resolving global challenges at a meeting of the UN Security Council on the 75th anniversary of the end of the Second World War in Europe and lessons learned for preventing future atrocities. “While we commemorate the end of the Second World War on European …

Bloomberg Oil traded near a five-week high as investors weighed the nascent recovery of demand against concerns about a resurgence in coronavirus cases if lockdowns are relaxed too early. The head of the International Energy Agency (IEA) said oil use will be below pre-coronavirus levels for at least a year, highlighting the depth of the collapse in consumption. The top …

Abu Dhabi / WAM The UAE has strongly condemned the terror attack that targeted a hospital in the Afghan capital Kabul and another that targeted a funeral, resulting in numerous deaths and injuries. The Ministry of Foreign Affairs and International Cooperation expressed in a statement its utter denunciation of these criminal acts and rejection of all forms of violence, which …

Bloomberg In China’s latest efforts to pit renewable energy against fossil fuels, it is again betting on size. Resources such as wind and solar don’t stand much of a chance if there isn’t a way to store energy when the wind doesn’t blow and the sun doesn’t shine. So some of China’s biggest state-owned companies are pouring in billions of …