Bloomberg China will likely ease the pressure on local governments to shut older, inefficient coal mines as it seeks to meet rising demand of the most-polluting fuel to spur its economic recovery. Government officials are in the midst of preparing the country’s all-important five-year-plan, the guiding document for policy and industrial development from 2021 to 2025. Unlike the previous edition, …

Bloomberg United Airlines Holdings Inc is planning to raise $5 billion by borrowing against its frequent-flyer program, pioneering a new tool for US carriers to boost liquidity amid the Covid-19 pandemic. Goldman Sachs Group Inc, Barclays Plc and Morgan Stanley have committed to provide the financing and arrange syndication, United said in a statement. The deal, which is expected to …

Bloomberg The US government will allow Chinese airlines four flights a week into its airports, an expansion following China’s announcement it would permit the same number of operations by the Americans. In the latest action, after weeks of diplomatic wrangling on passenger flights between the two nations, the Transportation Department issued an order that doubles the number of operations permitted …

Bloomberg American Airlines Group Inc is in talks to raise new financing to help it weather the collapse in travel demand during the pandemic, according to people with knowledge of the matter. The company is working with Citigroup Inc on a potential junk bond offering that may be secured by collateral including airport slots and gates, said the people, who …

Bloomberg The return of Boeing Co’s 737 Max to European skies is at risk of additional delays because US coronavirus travel restrictions have hindered planning for test flights by regulators from the continent. The European Union Aviation Safety Agency (EASA) will perform its flight tests on the grounded Boeing jet after the US Federal Aviation Administration conducts its own, said …

Bloomberg The two largest mall landlords and Authentic Brands Group LLC are in talks to buy bankrupt department-store chain JC Penney Co, according to people familiar with the matter. Authentic Brands may team up with Simon Property Group and Brookfield Property Partners to acquire the retailer as part of its court reorganisation, said the people, who asked not to be …

Bloomberg Stocks advanced alongside US equity futures as plans for more American stimulus revived investor sentiment. A gauge of European corporate debt risk fell the most in two months. Carnival Plc and EasyJet Plc rallied more than 7%, helping lead gains in the Stoxx Europe 600 Index. The dollar weakened against almost all of its major peers. The pound climbed …

Bloomberg Indian equities pared gains, while the rupee and sovereign bonds declined, after a skirmish between the nation’s soldiers and Chinese troops in a border area reignited geopolitical risks. The benchmark S&P BSE Sensex index rose 1.1% as of 2:32 pm in Mumbai, after earlier climbing as much as 2.4% after the Indian army said three soldiers died in the …

Bloomberg Global fund managers are starting to return to Vietnam’s stocks as the Southeast Asian nation emerges relatively little scathed from the coronavirus pandemic. Firms including Ashmore Group Plc and Coeli Asset Management SA have increased holdings in the $174 billion market since March, while foreign investors have been net buyers so far this month — a first since January …

Bloomberg Oil fell again as a fresh coronavirus outbreak in China, and increases in cases elsewhere, spurred concerns that a second wave of the virus will derail a nascent economic recovery. Futures traded near $35 a barrel in New York, sinking in tandem with equity markets, after losing 8.3% last week. Beijing closed the city’s largest fruit and vegetable supply …