Bloomberg Spain’s government is seeking to pass a law setting its climate targets as part of a drive to achieve carbon neutrality by 2050. A bill was set to be sent by the government to parliament on Tuesday aims to reduce Spain’s greenhouse gas emissions by 20% by 2030, relative to 1990 levels, according to copies of the bill distributed …

Bloomberg From luxury boutiques to mom and pop stores, Hong Kong’s retailers are hurting. Unless landlords can offer more relief, one in four could disappear by December if sales don’t improve, putting an end to the city’s reputation as a shopping hotspot. That’s the gloomy prediction of Hong Kong Retail Management Association Chairman Annie Yau Tse, who says the rent …

Bloomberg Qantas Airways Ltd said putting extra space between passengers on planes could lead to a big increase in airfares and discourage people from flying. “Social distancing on an aircraft isn’t practical,” Qantas Chief Executive Officer Alan Joyce said in a briefing with reporters on Tuesday. If implemented, it could mean there would only be 22 people on a 128-seat …

Bloomberg Argentina’s discount airline Flybondi is planning to redouble its bet on domestic service once the toughest travel ban in the Americas is lifted. The company will focus on local flights as long as demand for international travel remains tenuous because of the coronavirus pandemic, said Chief Commercial Officer Mauricio Sana in an interview. Flights to Brazil, the hardest-hit country …

Bloomberg JC Penney Co, the department-store chain that filed for Chapter 11 bankruptcy last week, said it will close about 29% of its stores. The retailer will reduce its store count to about 604, down from the 846 it currently has across the US, according to a company filing. In fiscal 2019, those locations brought in $9.2 billion in net …

Bloomberg Pier 1 Imports Inc said it would seek bankruptcy court approval to wind down its retail operations after the coronavirus pandemic made it difficult for the US retailer to find a buyer. The company said in a statement on Tuesday it intends to sell its inventory and remaining assets, including its intellectual property and e-commerce business, through the court-supervised …

Bloomberg European stocks turned lower alongside US equity futures on Tuesday as the risk-on mood that kicked-off the week faded. Oil prices rose for a fourth straight session. The Stoxx Europe 600 Index had opened in the green following news that Germany and France have backed a $546 billion, European Union-wide economic recovery fund. But after strong gains on Monday, …

Bloomberg Indian stocks advanced, tracking a regional rally after early vaccine results sparked speculation economies could rebound quickly. The S&P BSE Sensex added 1.6% to 30,514.44 in Mumbai, while the NSE Nifty 50 Index gained by a similar magnitude. Both measures are set to snap three days of losses, their longest losing streak in a month. “The possibility of a …

ABU DHABI / WAM The UAE on Monday welcomed the signing of a power-sharing agreement in Afghanistan between President Ashraf Ghani and Dr Abdullah Abdullah while expressing hope that the deal represents a step towards enhancing stability, peace, and security throughout Afghanistan. In a statement, the Ministry of Foreign Affairs and International Cooperation renewed its call for an immediate ceasefire …

Bloomberg Oil rose to the highest in two months as demand in China returned to near pre-virus level and output curbs continued in the US and elsewhere. Futures in New York climbed as much as 9.8%. Chinese oil use is at 13 million barrels a day, just shy of the levels of a year earlier, traders and executives said. The …