August, 2020

• 26 August

  South Korean stocks, won spooked by fears of potential lockdown

  

  Bloomberg South Korean stocks and the currency could come under pressure as policy makers consider stricter social-distancing measures and a lockdown amid a flare-up in Covid-19 cases. Such concerns saw the benchmark Kospi index and the won slip early on Wednesday, although losses were pared after a senior health ministry official denied market rumours that authorities will raise social-distancing rules …

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• 26 August

  Auto stocks rise in India on prospect of lower tax

  Bloomberg Automaker stocks gained in India after the government said it will look into cutting taxes on some vehicles. The overall market was little changed. A measure of automotive stocks climbed 1.5%, the most among 19 industry groups, while the benchmark S&P BSE Sensex Index was little changed as of 11:36 am in Mumbai. Hero Motocorp Ltd. led peers higher, …

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• 25 August

  Octopus aims to lead UK power market

  

  Bloomberg Octopus Energy Ltd, the clean energy provider, plans to add millions of new customers this decade on a pace that could soon make it the UK’s largest energy supplier. Octopus Energy hopes to reach about 5 million households in the UK by 2025, according to Chief Executive Officer Greg Jackson, up from about 1.6 million today. The British energy …

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• 25 August

  Japanese firm to sell bonds with coupons linked to green goals

  Bloomberg A Japanese real estate developer is planning to sell a bond whose coupon increases if it misses environmental targets, in the first issuance of its kind in the nation. Hulic Co plans to offer 10 billion yen ($94 million) of 10-year so-called sustainability-linked bonds in October, according to a filing on Tuesday. If the company isn’t able to meet …

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• 25 August

  China likely to skip winter LNG feast

  Bloomberg Don’t expect an LNG buying binge ahead of winter from the world’s fastest growing consumer of the fuel. China will likely pull back on spot purchases of liquefied natural gas (LNG) before the peak demand season as a flurry of earlier bargain buying nearly maxed out storage space. “There is a big question about whether demand will recover enough …

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• 25 August

  Virgin Atlantic creditors to vote on $1.6b rescue plan

  

  Bloomberg Virgin Atlantic Airways Ltd is set to find out whether it has enough support from creditors for a 1.2 billion-pound ($1.6 billion) rescue or if it will need a judge to overrule them in order to stave off collapse. The UK carrier founded and controlled by billionaire Richard Branson has already secured the backing of three creditor classes and …

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• 25 August

  Qantas Air plans to cut 2,500 more jobs

  

  Bloomberg Qantas Airways Ltd plans to cut as many as 2,500 more jobs by offloading ground operations like baggage handling and aircraft cleaning as the cost of the coronavirus pandemic mounts. The reductions follow previously announced plans to eliminate 6,000 jobs, or 20% of the workforce, the airline said in a statement on Tuesday. “Airlines have to change how they …

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• 25 August

  Seven-day virus killer is cleared for American Air planes

  

  Bloomberg The Trump administration gave American Airlines Group Inc emergency approval to deploy a new weapon against Covid-19: a surface coating that kills coronaviruses for as many as seven days. The Environmental Protection Agency (EPA) issued the emergency declaration for Allied BioScience Inc’s SurfaceWise2 product, allowing it to be used in some American Airlines planes and airport facilities, as well …

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• 25 August

  Itochu aims to take FamilyMart private as tender offer succeeds

  

  Bloomberg Japan’s second-largest convenience store operator FamilyMart Co will become a wholly owned subsidiary of top shareholder Itochu Corp after the trading house succeeded in its tender offer for the retailer’s shares. The deal will lift Itochu’s stake in FamilyMart to 65.7% from 50%, allowing the trading company to begin the process of delisting the convenience store operator from the …

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• 25 August

  Finnair to cut 1,000 jobs due to Covid-19 pandemic

  Bloomberg Finland’s national carrier Finnair Oyj plans to eliminate as much as 15% of its workforce and push through deeper cost cuts in an effort to survive one of the worst crises in aviation history. The airline will slash a maximum of 1,000 jobs and lay off “practically all of its personnel in Finland,” it said on Tuesday. Finnair also …

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