The Federal Reserve has responded aggressively to market strains and the sharp drop in the economy caused by the coronavirus pandemic. The central bank cut short-term interest rates nearly to zero, bought hundreds of billions of dollars of Treasuries and mortgage-backed securities and it introduced a plethora of special liquidity facilities designed to support markets. The Fed’s actions have largely ...

Bloomberg The Trump Administration, in the latest move ratcheting up tensions in US-China trade, said that the nation had continued to violate airlines’ rights by restricting flights and ordered new limits on its carriers. Responding to a move by China to limit US passenger airlines to one flight per week each, the US Department of Transportation said it would only ...

Bloomberg An emergency measure allowing Colombia’s government to take equity stakes in private companies opens the door for a bailout of the nation’s largest airline, Avianca Holdings SA, which declared bankruptcy last month amid an unprecedented downturn in travel. The new regulation, which permits the government to take minority positions in companies that have been impacted by the sharp economic ...

Bloomberg Delta Air Lines Inc will drop service to 11 midsize US cities next month amid weak demand because of the Covid-19 pandemic, a reminder of the industry’s fragility after a record stock rally. The service suspensions affecting cities from Aspen, Colorado, to Bangor, Maine, will help lower costs, Delta said in a statement. The affected airports are among 75 ...

Bloomberg Boeing Co is heading for its best week in more than two months as surprise job gains and airline bookings signal that demand for air travel — and jetliners — is poised to recover from a historic plunge. The US planemaker’s status among investors has recently flipped to darling from market pariah, although analysts caution that Boeing still faces ...

Bloomberg Victoria’s Secret UK arm is appointing an administrator to help overhaul its business, amid plunging sales across the retail sector. The unit of Ohio-based L Brands Inc, which operates 25 stores in the country, will appoint Deloitte to renegotiate leases or sell the stores, Stuart Burgdoerfer, the unit’s interim chief executive officer, said in an emailed statement. Victoria’s Secret ...

Bloomberg German Chancellor Angela Merkel was caught off guard by US President Donald Trump’s decision to pull 9,500 US troops out of Germany by September. The government wasn’t officially notified by the US about Trump’s plan, and it has so far only found out about the matter from media reports, a German government official said on Saturday, declining to comment ...

Bloomberg Joe Biden has formally clinched the Democratic presidential nomination, according to the Associated Press tally, officially setting off his general election campaign to unseat President Donald Trump. The former vice president passed the milestone after collecting 1,993 delegates to the national convention, two more than the 1,991 needed to become the nominee. Mail-in ballots from Indiana, Pennsylvania and Rhode ...

Bloomberg India will insist that China demolish recent construction and withdraw soldiers from a disputed border area as the two neighbours begin talks to end a stalemate that began in April, officials with knowledge of the matter said. The South Asian nation, at a meeting of senior defense officials on Saturday, will offer to remove construction done at the border ...

Bloomberg Venezuela’s Nicolas Maduro is seeking to use the Supreme Court to accelerate the appointment of electoral officials mainly loyal to his government, laying the groundwork for congressional elections in December, according to seven people familiar with matter. Maduro’s administration is preparing to appoint an all-new board to the electoral body known as CNE through a Supreme Court ruling as ...