June, 2020

• 28 June

  US puts pressure on Hitachi’s UK nuclear site sale to China

  

  Bloomberg US President Donald Trump’s government has put pressure on Japan’s Hitachi Ltd not to sell a nuclear-power project in the UK to China, The Sunday Times reported, without saying where it got the information. Hitachi is weighing options for the Horizon nuclear project in Anglesey, according to the report. The company said in January 2019 that it would halt ...

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• 28 June

  UK’s last big gas plants are being built

  Bloomberg In the north of England about 450 engineers are toiling away to build a new large gas plant. It could be one of Britain’s last. SSE’s 840-megawatt Keadby plant is the latest gas plant under construction in the UK. At the start of June a gas turbine weighing as much as an Airbus A-380 arrived on-site from Germany, keeping ...

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• 28 June

  Ryanair calls Britain’s air bridge plan ‘more idiotic’

  

  Bloomberg Ryanair Holdings Plc dismissed the UK’s plan to relax quarantine requirements for people arriving from France, Greece and Spain as “more idiotic rubbish” and called for the restrictions to be scrapped entirely. The government plans next week to publish a full list of the countries with which it will establish so-called air bridges — exempting incoming travelers from self-isolating ...

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• 28 June

  British Airways reaches deal to slash 350 pilots

  

  Bloomberg British Airways, a unit of International Consolidated Airlines Group, will cut 350 pilots and put another 300 in a “pool” for re-hire when needed as part of a deal reached with cockpit crew, The Sun reported. Most of the pilots facing compulsory redundancies worked from Gatwick airport in London, according to the report, which didn’t say where the information ...

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• 28 June

  Delta Air warns thousands of pilots about possible furloughs

  

  Bloomberg Delta Air Lines Inc will inform almost 2,600 pilots about a possible furlough while encouraging a total of 7,900 eligible aviators to accept an early retirement package, according to a memo sent to staff. “Even with the increased travel demand we’ve seen in recent weeks, we expect revenue to be at only 25% of what it was last summer ...

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• 28 June

  American Air to book full planes, shelve social distancing

  

  Bloomberg American Airlines Group Inc said it would sell flights to capacity starting from July 1, abandoning caps on passenger loads that were designed to promote social distancing amid the coronavirus pandemic. Customers still will be notified when they’re booked on crowded flights and can move their reservations at no cost, the airline said in a statement. Starting from June ...

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• 28 June

  Nike to cut jobs in its push to sell directly to consumers

  Bloomberg Nike Inc is cutting jobs as the world’s largest athletic brand refocuses on selling directly to consumers, pushing further away from a traditional retail channel that’s been ravaged by the pandemic. CEO John Donahoe, a longtime Silicon Valley executive who took the helm at Nike in January, announced a new phase in its e-commerce push called the Consumer Direct ...

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• 28 June

  ‘Fair & Lovely rebrand in India will be costly’

  Bloomberg Hindustan Unilever Ltd’s decision to rename its melanin-suppressing face cream, Fair & Lovely, will probably need a large media campaign to win over consumers which poses short-term risk to its margin in that particular segment, according to Jefferies India Pvt. The product, which earns more than $500 million in annual revenue for Unilever Plc from India alone, will be ...

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• 28 June

  European stocks are entering H2 of 2020 on a strong footing

  

  Bloomberg European stocks are entering the second half of the year on a strong footing. Even after three straight months of gains, a growing number of strategists and investors are turning bullish on the region’s equities. Helping sentiment are reports pointing to an economic bounce, unprecedented stimulus measures and optimism that easing lockdown measures won’t lead to a second wave ...

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• 28 June

  Canada’s stock market faces a rocky road ahead

  

  Bloomberg The wild ride of Canada’s stock market in 2020 shows no signs of abating soon. That’s the message from strategists who are expecting choppy months ahead as investors worry about a second coronavirus wave and plunging corporate profits amid a global recession, trade tensions and US elections. “Now that we’re coming into the summer, it’s going to be more ...

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