Bloomberg IAG SA, owner of British Airways, said it is conducting a review of hedging policy after the coronavirus pandemic sparked a mammoth loss on oil derivatives contracts. The company uses such contracts to try and limit its fuel bill — usually the single biggest expense for airlines — but lost 1.6 billion euros ($1.9 billion) as a result of ...

Bloomberg Steinhoff International Holdings NV former Chief Executive Officer Markus Jooste has been fined more than 162 million rand ($9.9 million) by a South African regulator for insider trading ahead of the retailer’s near collapse almost three years ago. Jooste sent a text message to four people warning them to sell their stock in the company in the days before ...

Bloomberg IndiGo will trim its fleet size over the next two years as the coronavirus pandemic continues to weigh on Asia’s biggest budget airline by market value and other carriers around the world. “Fleet count will be stagnant, go down a little,” CEO Ronojoy Dutta told analysts during a conference call. “In 2022, we will be down slightly, by 2023, ...

Bloomberg The final stretch of the race for the White House between Donald Trump and Joe Biden has been fraught with dramatic twists — a hospitalised president, a resurgent pandemic, the death of an iconic Supreme Court justice, and the rapid confirmation of her successor. Yet none of it appears to have altered the course of the race that was ...

Bloomberg At least seven Hong Kong pro-democracy politicians were arrested on Sunday allegedly in relation to scuffles at a Legislative Council meeting in May, RTHK reported. Democratic Party members Wu Chi-wai, Andrew Wan and Helena Wong were arrested by police, the party said in a Facebook post. Former legislators Eddie Chu and Raymond Chan were also detained, according to their ...

Bloomberg Less than a day after Prime Minister Boris Johnson announced a month-long lockdown for England, one of his top ministers and closest allies signalled the measures might have to be extended if they fail to contain the spread of the coronavirus. “It will get reviewed on December 2, but we’re always driven by what the data show,” Cabinet Office ...

Bloomberg Polls opened in Algeria for a referendum on amendments to the constitution that authorities say will address the causes of long-running unrest in the state. Voting took place nationwide from 8 am to 8 pm on Sunday, with results due on Monday. Unfortunately for a government craving stability, many of the millions who joined mass protests since early 2019 ...

Bloomberg Angela Merkel’s Christian Democratic Union plans to meet in January as the party prepares to select the leader who will take it into next year’s elections. Three candidates are competing for prime position to replace Merkel, who will step down as chancellor after 16 years running Europe’s largest economy. Germany’s ruling party had originally planned to stage an in-person ...

Bloomberg UK Prime Minister Boris Johnson said he was extending the government’s wage support program as part of a new partial four-week lockdown for England and offered home owners more financial reprieve. Under the package announced by the prime minister, state payments will be made to furloughed workers of as much as 80% of their wages through the new lockdown ...

Bloomberg Germany will do “everything necessary” to help cushion the impact of the coronavirus on businesses as the government moves to introduce a partial lockdown on Monday, Chancellor Angela Merkel said. Merkel will meet with industry representatives on Wednesday to discuss how to further help them to ease the burden of coping with the coronavirus. “I assure you, the government ...