Bloomberg South Africa is in the final stage of negotiations with a potential investor for its grounded flag carrier, a move that would give the airline a boost just as it emerges from bankruptcy protection. The deal will bring capital and “much-needed technical and commercial expertise” to South African Airways (SAA), the Department of Public Enterprises (DPE) said in a ...

Bloomberg Fosun Group and an arm of JD.com Inc are among suitors considering investing in domestic operations of HNA Group Co. as the indebted Chinese conglomerate is reorganized after being placed under government control, people with knowledge of the matter said. Ping An Insurance Group Co, Juneyao Airlines Co and Air China Ltd have also been studying HNA’s assets, the ...

Bloomberg International and domestic airlines are adding flights out of India to bring home residents and citizens as the nation’s coronavirus outbreak goes from bad to worse. Air India Ltd plans to increase its weekly frequency of flights to the US to 32 starting May 11, up from the current 29. That compares with about 33 weekly flights before Covid. ...

Bloomberg Facebook Inc and Gucci filed their first joint lawsuit against an alleged online counterfeiter as the web giant and luxury brand move to crack down on the fraudulent practice. Facebook and Kering SA’s Italian fashion brand filed the suit against an individual for breach-of-contract, claiming violations of the social media platform’s terms and the infringement of Gucci’s intellectual property ...

Bloomberg Delayed elections in Somalia amid political infighting has enabled al-Qaeda-linked extremists to make gains in an insurgency, raising the threat of insecurity in eastern Africa. The group, known as al-Shabaab, has taken advantage of the impasse and the withdrawal of US troops from Somalia to recruit fighters, according to people with knowledge of the matter. Authorities have thwarted some ...

Bloomberg The Pentagon said it had cancelled projects related to Donald Trump’s border wall and was returning money the former president directed to the project to defense programs. “The Department of Defense is proceeding with cancelling all border barrier construction projects paid for with funds originally intended for other military missions and functions such as schools for military children, overseas ...

Bloomberg The town of Hartlepool in northeast England is the kind of place a Conservative prime minister would ordinarily struggle to find support. One of the most deprived areas of the UK, the blue-collar port saw its steel industry collapse in the 1970s and 80s and the unemployment rate remains among the highest in the country. Politically, it’s backed the ...

Bloomberg Australia has temporarily banned its citizens from returning from India. The pause on allowing in travellers that were in India within 14 days of arriving will take effect from Monday, Health Minister Greg Hunt said in an emailed statement. Breaches of the ban could lead to a fine of A$66,600 ($51,000), five years imprisonment, or both. As virus cases ...

Bloomberg A strong earthquake off Japan’s northern coast of Miyagi prefecture on Saturday temporarily disrupted bullet train service and prompted utility companies to conduct checks at nuclear power plants. The magnitude 6.8 temblor hit at 10:27 am local time at a depth of 32 miles, the Japan Meteorological Agency said. While the quake shook buildings as far away as Tokyo, ...

Bloomberg China’s biggest banks fell after posting profit gains of below 3% in the first quarter with policy makers leaning on the lenders to contain debt growth as the economy powers out of the pandemic. Industrial & Commercial Bank of China Ltd., (ICBC) the world’s biggest bank by assets reported a 1.46% gain in profit in period. Its smaller rivals ...