Data that came out last week illustrated three developments that underscore the need for the US to resume healthy reopenings: worrisome Covid-19 infections, hospitalisations and deaths in a growing number of states; the clear and present risk of significant recurring damage to the economy; and the considerable upside of reversing both trends quickly. What is desirable is also feasible, although ...

The UK’s biggest banks have come a long way since the financial crisis, when taxpayers had to rescue them to the tune of tens of billions of pounds. They’re certainly stronger, with comfortable capital buffers, as they head into what could be the worst recession in three centuries. But with the future of the economic rebound still far from certain, ...

Bloomberg Seven & i Holdings Co, the world’s largest convenience store operator, is betting $21 billion on the future of quick-stop shopping in the US, reviving a once-abandoned deal to make sure the target didn’t fall into the hands of a competitor. The global operator of the 7-Eleven franchise agreed to buy Marathon Petroleum Corp’s gas-station business, adding 3,900 Speedway ...

Bloomberg Japan Airlines Co posted its biggest quarterly net loss in at least eight years and decided to forgo paying an interim dividend as it contends with the devastating impact of the coronavirus. The carrier’s first-quarter loss was 93.7 billion yen ($89 million), the most since it re-listed on the Tokyo stock exchange in 2012 after emerging from bankruptcy. Since ...

Bloomberg Wizz Air Holdings Plc will accelerate the rate of new-plane deliveries from Airbus SE, taking advantage of deferrals from other customers to feed its own expansion. The Hungarian low-cost airline will receive about 30 A321neo jets in 2021, five more than previously planned, Chief Executive Officer Jozsef Varadi said in an interview. Talks with Airbus included commercial arrangements, he ...

Bloomberg A group led by China Resources Capital Management Ltd is close to buying a majority stake in City’super, valuing the high-end Hong Kong supermarket chain at almost $300 million, people with knowledge of the matter said. CR Capital, the alternative investments arm of state-owned conglomerate China Resources Holdings Co, and its co-investors plan to acquire 65% of City Super ...

Bloomberg Shoprite Holdings Ltd’s second-half sales climbed as it gained market share, even as the main lower-income customers of Africa’s largest food retailer battle with the impact of an economic slowdown. Sales in its core South African business rose 9.4% in the last three months of the fiscal year through June, the Cape Town-based supermarket operator said. Still, the grocer ...

Bloomberg Under Armour Inc managed to reach more customers than expected last quarter, even with most of its stores closed — but the road ahead is looking bumpy. The athletic-goods maker’s second-half revenue is likely to fall 20% to 25%, with its recently improved gross margin coming under new pressure, executives warned on a call with analysts. The volatile stock ...

Bloomberg A South Korean court is set to start liquidating assets of a Japanese company to compensate Koreans conscripted to work during colonial occupation, straining ties between two key US partners just as the Trump administration needs their help in countering China. A district court in the eastern city of Pohang will start a process on Tuesday to seize shares ...

Bloomberg Poland’s Supreme Court ruled that the July 12 presidential election won by incumbent Andrzej Duda was valid and that minor irregularities didn’t affect the outcome. The ruling paves the way for Duda to start a new five-year term and defeats a legal challenge from the campaign of opposition-backed Warsaw mayor Rafal Trzaskowski, who lost to the president in the ...