Bloomberg It’s going to take months for oil demand in the world’s third biggest market to get back to pre-virus levels as India faces its deepest recession ever in the wake of its near two-month lockdown. Once the engine of global oil demand growth, India’s fuel consumption collapsed by as much as 70% at one stage last month as it …

Bloomberg Texas has started seeing a slight increase in power use this week in one of the first signs that electricity demand is bouncing back in the US as lockdowns ease. While power use in the Lone Star state is still depressed, the state’s main grid operator noticed a slight improvement in electricity use during early morning hours, according to …

Bloomberg Japanese trading house Mitsui & Co is considering a sale of its majority stake in PT Paiton Energy, one of Indonesia’s biggest independent power producers, people with knowledge of the matter said. Mitsui is working with an adviser on a potential divestment of its 45.5% stake in the power producer, said the people, who asked not to be identified …

Bloomberg Cape Town, South Africa’s second-biggest city, said it could buy its own renewable energy within five to six years if it wins a court case against the government. The city of 4 million people has sued the Energy Ministry and the national power regulator to obtain the right to procure its energy in a case that could pave the …

Bloomberg India’s decision to resume domestic flights from May 25 was a bolt out of the blue for most of the country’s aviation companies. Top executives at three Indian airlines said they learned about the move when the aviation minister tweeted it. The executives asked not to be identified citing rules on speaking to the media. Airline shares surged. Most …

Bloomberg United Airlines Holdings Inc’s new chief executive officer vowed to work with the carrier’s labour unions on “creative” ways to slash labour spending and potentially avoid furloughs if travel demand doesn’t recover by October. Reduced work hours would be one possible approach, Scott Kirby said in an interview with CNBC and again at the United’s annual meeting. His comments …

Bloomberg European Union regulators called on passengers to wear face masks, observe physical distancing and frequently wash their hands in new guidelines for air travel in the age of Covid-19. Significant changes will also be needed for airlines and airports, EU aviation and health agencies said in a statement. Carriers and airport operators must ensure that passengers keep a distance …

Bloomberg EasyJet will resume flights from 22 European airports on June 15, becoming one of the first airlines in the region to begin building up services as the coronavirus lockdown eases. Britain’s biggest discount carrier will start with mainly internal flights in the UK and France before announcing more routes in coming weeks as travel restrictions are lifted and demand …

Bloomberg Walmart Inc plans to expand its members-only warehouse chain, Sam’s Club, in China to 100 stores in the next eight years as it embarks on an ambitious growth plan after the coronavirus pandemic. The local unit of the Bentonville, Arkansas-based company told employees about the goal in a townhall meeting, according to people familiar with the matter, who asked …

Bloomberg Canada’s federal housing agency is considering scaling back mortgage underwriting practices to limit excessive borrowing due to the threat of significant declines in real estate prices and rising debt levels. The combination of higher mortgage debt, declining property prices and increased unemployment is “cause for concern for Canada’s longer-term financial stability,” Evan Siddall, chief executive officer at Canada Mortgage …