May, 2020

• 5 May

  Frontier to charge $39 for ‘keeping distance’

  

  Bloomberg Frontier Airlines Holdings Inc said it’s going to charge extra for passengers who want to guarantee a spot next to an unoccupied middle seat in the age of social distancing. The carrier aims to generate revenue on the empty seats, charging from $39 to $89 depending on the route. It will have 18 “More Room” assignments available on each …

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• 5 May

  Air Canada says virus impact to linger, major cuts to come

  

  Bloomberg Air Canada said it expects the impact of the coronavirus pandemic to last at least three years and predicted large job cuts as it hunkers down to survive “the darkest period ever” for the industry. The country’s biggest airline, which reported a first-quarter loss, said it expects capacity in the third quarter to be 75% below last year’s level, …

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• 5 May

  Spanish airlines may need more help: Government

  Bloomberg Spain’s transport ministry is seeking to help airlines tap bank state-backed loans but more help may be needed, Minister Jose Luis Abalos said. “I do believe airlines will tap those loans, but it is possible that they may need a reinforcement to those credit-lines, which now are enough to help liquidity only in the short-term,” Abalos said at a …

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• 5 May

  Oil declines as investors shun short-term crude

  

  Bloomberg Oil fell after a three-day rebound as a number of funds shifted away from near-term contracts, fearing a repeat of the meltdown last month that saw prices plunge below zero. Futures fell 8% towards $18 a barrel in New York as investors worried that a massive supply overhang while coronavirus shatters demand will send market tumbling again. The manager …

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• 5 May

  Nuclear getting hammered by green power, pandemic

  

  Bloomberg Generating power without harmful carbon emissions has never been more urgent, yet one of the biggest sources of clean power is struggling to turn a profit. The nuclear industry has been vying for a role as the perfect partner to the surging, but intermittent, renewables sector for years, citing its role as a stable source of emissions-free power. Nations …

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• 5 May

  Pipe-laying ship from Russia reaches Baltic

  

  Bloomberg A Russian pipe-laying ship that could help finish the Nord Stream 2 gas link to Europe has anchored at the Baltic Sea port of Kaliningrad after sailing for three months from the Pacific. The Akademik Cherskiy, which has changed destinations several times on its way, recently signaled it was set to arrive in Kaliningrad, tanker tracking data show. Late …

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• 5 May

  Philippines to hike oil duties by 10%

  Bloomberg The Philippines will impose a temporary 10% increase in the import duties of crude oil and refined petroleum products to raise funds for the government’s coronavirus response. The new rates, which will take effect immediately, shall be reverted when international oil prices increase and hit triggers set by the Department of Energy, according to President Rodrigo Duterte’s May 2 …

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• 4 May

  Stocks fell in most of world with US futures, dollar rises

  

  Bloomberg Stocks fell in most of the world while US index futures edged lower in a sign the risk-off move that hit markets at the start of this month may have further to run. The dollar climbed. The Stoxx Europe 600 slumped at the open, with all 19 industry sectors down. Contracts on the three main American indexes traded in …

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• 4 May

  Bad start to May is a sign of things to come for markets

  

  Bloomberg Sell in May and go away? The negative start to the month raises concern that the partial recovery in April is going to be about as good as it gets for risk assets. For all the optimism stemming from the gradual easing of lockdown measures in some of the biggest economies, there are too many worries on the minds …

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• 4 May

  ECB funding fix to likely push costs down to pre-virus levels

  

  Bloomberg Funding costs in Europe have probably been given the tonic they need to keep easing from the highest level since 2016. Judging by moves in interest-rate futures, the European Central Bank’s (ECB) plan to pump a deluge of cash into the euro area’s banks will drag a key lending rate down on Monday, when most of the region’s markets …

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