Judging by the performance of emerging markets, you’d hardly know the world was suffering from a deadly pandemic. After a horrible March, according to the Institute for International Finance, non-resident portfolio flows into emerging markets increased tenfold to $32.9 billion in June. MSCI’s EM currency index hit a one-month high last week. Even currencies as weak as the South African ...

China is building tens of thousands of 5G base stations every week. Whether it wins technological dominance or not, domestic supply chains may be revived and allow the country to maintain — and advance — its position as the factory floor of the world, even as Covid-19 forces a rethink in how globalisation is done. By the end of this ...

Bloomberg Portugal’s decision to oust the chief executive officer of TAP after a rescue of the nation’s leading airline has created an urgent vacancy to fill at a time when a broad overhaul is needed. As the government agreed to boost its holding in loss-making TAP to 72.5% on July 2, it simultaneously ended the tenure of Antonoaldo Neves after ...

Bloomberg Cathay Pacific Airways Ltd’s shareholders approved a plan to raise HK$39 billion ($5 billion) in a government-backed rescue that includes the sale of preference shares and a rights issue. All resolutions put to vote were approved, the airline said in a statement following an extraordinary general meeting in Hong Kong on Monday. When the recapitalisation plan was announced last ...

Bloomberg A long-awaited equal pay lawsuit at the UK Supreme Court could see thousands of mostly female workers obtain better wages from the largest supermarkets and end up costing the chains as much as 8 billion pounds ($10.1 billion). The Supreme Court was expected to scrutinise a discrimination case brought by more than 15,000 employees who work at Walmart’s Asda ...

Bloomberg Beyond Meat is at risk of being part of a food craze that could potentially sputter and continues to face heightened competition, according to a Citi analyst who initiated coverage with a sell rating. Close to one-quarter of Americans are eating less meat now than last year, but they aren’t doing so out of moral opposition to eating animals ...

Bloomberg Airbus SE failed to secure any aircraft orders for a third month this year, as the collapse in global air travel battered demand for new jetliners. The European planemaker attracted zero purchases in June, according to a company statement. The manufacturer suffered one cancellation, a spokesman confirmed, bringing total net orders to 298 aircraft so far this year. The ...

Bloomberg More than half a million Hong Kong residents defied government warnings and a fresh coronavirus outbreak to vote in an unofficial primary, a strong turnout that signals continued resistance to Beijing’s decision to impose a broad national security law just two weeks ago. More than 610,000 residents — representing more than 13% of registered voters — cast ballots in ...

Bloomberg Russia’s Federal Security Service, the main successor agency to the Soviet-era KGB, charged a prominent former journalist with treason as protests including representatives of state media gathered pace. Ivan Safronov, who regularly broke news on sensitive arms deals while working for the Kommersant newspaper over much of the past decade, denies the accusations against him, his attorney Ivan Pavlov ...

Bloomberg Malaysian Prime Minister Muhyiddin Yassin’s narrow win in a key parliamentary vote on Monday showed that the prospect of snap elections still remains a risk for the country. Just 111 of 221 lawmakers present voted in favour of the premier’s motion to remove speaker Mohamad Ariff Md Yusof, who was appointed by the previous administration, while 109 voted against. ...