June, 2020

• 1 June

  HK stocks rally after Trump holds fire on retaliation

  

  Bloomberg Hong Kong stocks rose, with the benchmark index capping its best day in more than two months, on speculation the US administration won’t take extreme steps in response to China’s crackdown on the city. The Hang Seng Index closed 3.4% higher, led by real estate firms, after falling almost 7% last month. Shares on the mainland also climbed, with ...

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• 1 June

  MSCI Singapore deletions shave $613m off market value

  Bloomberg Four Singaporean blue-chip stocks lost a combined market capitalisation of $613 million amid record volumes after MSCI Inc. deleted them from its benchmark for the city-state’s largest stocks. Two of the four shares excluded from the MSCI Singapore Index — Singapore Press Holdings Ltd. and Sembcorp Industries Ltd. — became over-sold on a technical indicator, while ComfortDelGro Corp. and ...

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May, 2020

• 31 May

  Opec+ close to deal to bring forward meeting to June 4

  

  Bloomberg Opec+ members are close to a decision to bring forward their next meeting by a few days, according to people familiar with the situation. If confirmed, the move would give the cartel and its allies more room for maneuver to change the current production limits. The existing deal — struck in April as demand collapsed amid the pandemic — ...

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• 31 May

  Thai MPs back $60bn stimulus to fight slump

  

  Bloomberg Thailand’s parliament approved a 1.9 trillion baht ($60 billion) stimulus package to counter a recession but divisions emerged in the ruling coalition over how to monitor the program. Lawmakers on Sunday voted in favour of bills authorising 1 trillion baht of borrowing for government spending and 900 billion baht of steps by the Bank of Thailand. Two key parties ...

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• 31 May

  German coal plant becomes focal point of climate protests

  

  Bloomberg Uniper SE’s controversial new German coal plant is opening at a time when the fuel has never been more unpopular. Datteln-4 has drawn international condemnation from teenage activist Greta Thunberg to Greenpeace at a time when many countries are trying to slash their emissions. The environmentalists aren’t buying the argument that the new plant is more climate friendly than ...

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• 31 May

  Venezuela raises gasoline prices in policy shift

  

  Bloomberg Venezuela’s President Nicolas Maduro said fuel prices would increase starting in June, a historic policy shift after decades of subsidies that have allowed Venezuelans to essentially fill their tanks for free. Gasoline will be sold at 5,000 bolivars (2.5 US cents) per litre at gas stations nationwide starting from Monday, including 200 stations that will sell premium fuel at ...

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• 31 May

  S Africa diesel dearth to lift as refining restarts

  

  Bloomberg A shortage of diesel fuel in South Africa will ease up in a few weeks when about 30% of its refining capacity, idled because of a drop in demand spurred by the Covid-19 lockdown, will return to service. Sasol Ltd and Total SA shut the Natref refinery in April after the government restricted economic activity to curb the spread ...

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• 31 May

  Czech billionaire bets big on Macy’s, Foot Locker

  

  Bloomberg Across the US, sales are cratering, bankruptcies are on the rise, and unemployment has hit unprecedented levels. With consumers glued to the couch watching Netflix or commiserating over Zoom, retailers have been especially hard hit. Yet even as the coronavirus pandemic wreaks havoc on American malls and main streets, a billionaire from Prague sees something in the wreckage: bargains. ...

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• 31 May

  Amazon shuts down hubs near protests

  

  Bloomberg Amazon.com is scaling back deliveries and adjusting routes in a small number of cities including Chicago, Los Angeles and Portland after the death of George Floyd in Minneapolis sparked demonstrations around the country, prompting curfew orders. “We are monitoring the situation closely and in a handful of cities we adjusted routes or scaled back typical operations to ensure the ...

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• 31 May

  Canada’s Brookfield rejoins race to buy Virgin Australia

  

  Bloomberg Brookfield Asset Management rejoined the race to buy Virgin Australia Holdings Ltd, according to a person familiar with the situation, as administrators prepare to narrow the field of suitors for the collapsed carrier. The Canadian asset manager submitted a bid to administrators at Deloitte, said the person, declining to be named since the proposal hasn’t been made public. Deloitte, ...

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