April, 2020

• 9 April

  Air France-KLM sees 90% of its capacity to remain suspended

  

  Bloomberg Air France-KLM expects more than 90% of its capacity to remain suspended through the end of May as the coronavirus pandemic paralyses the travel industry worldwide. For the next two months, the airline aims to continue serving only some key city pairs with a “skeleton operation,” according to a statement. Beyond that time frame, the company said, projections are …

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• 9 April

  Air Canada to use Trudeau’s wage subsidy for 36,000 employees

  

  Bloomberg A 75% wage subsidy touted by Canadian Prime Minister Justin Trudeau has caught the interest of the country’s biggest airline, a request that could cost the government as much as C$30.5 million (about $22 million) a week. Air Canada said it will apply for the money to help keep or recall its 36,000 employees based in the country, 16,500 …

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• 9 April

  Costco says curbs on customers, store hours tempered its growth

  

  Bloomberg Costco Wholesale Corp’s sales soared in March, but not as much as expected: Curbs the retailer placed on its operations to cope with coronavirus-related demand slowed the pace in the back half of the month. The shares fell in extended trading. The retailer’s comparable US sales excluding fuel — a key metric watched by analysts — rose 12.1%, it …

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• 9 April

  S African property owners plan relief for retail tenants

  Bloomberg South Africa’s property owners will provide relief to retail tenants hardest hit by a nationwide lockdown to curb the spread of Covid-19. The initiative, which focusses on small-, medium- and micro-sized enterprises, will be rolled out by landlords nationally, the Property Industry Group said in a statement published on the website of the South African Real Estate Investment Trusts …

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• 9 April

  Stocks pare gains with US futures before holiday

  

  Bloomberg European stocks pared their gains alongside US equity futures on Thursday as investors mulled estimates of how soon economies can reboot when the coronavirus outbreak eases. Oil rose after Russia signalled it’s ready to make production cuts. Declines in telecoms and media shares helped trim an earlier advance by the Stoxx Europe 600 Index. American index contracts fluctuated a …

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• 9 April

  Pakistan stocks rise after IMF’s approval for emergency funds

  

  Bloomberg Pakistani stocks rose after the International Monetary Fund (IMF) said it plans to disburse about $1.4 billion in emergency financing next week to help the nation shield its economy hit by the coronavirus outbreak. “The IMF and the Pakistani authorities are working hard for a prompt approval and disbursement” in a single installment, Teresa Daban Sanchez, IMF’s chief in …

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• 9 April

  FX more efficient than stocks at trading swings

  Bloomberg Investors who want to trade big swings in risk sentiment may want to venture outside the typical US stocks play and consider currencies, according to analysts at Standard Chartered Plc. An analysis of how the S&P 500 Index and currencies traded relative to their volatility indicated that some foreign exchanges were more efficient in capturing the shifts through the …

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• 8 April

  Italy moved by UAE’s gesture, compassion during pandemic

  

  ABU DHABI / WAM The Italian envoy to Abu Dhabi has said that Italy’s government and people were “moved” by the sympathy and compassion shown by the UAE during coronavirus pandemic. In a statement to Emirates News Agency (WAM) Ambassador Nicola Lener said that Italy was “deeply impressed” by the UAE initiative that saw the shipment of 10 tonnes of …

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• 8 April

  Oil moves higher with impact of possible output cuts in focus

  

  Bloomberg Oil rose as investors weighed whether output cuts being discussed by the world’s top producers will be enough to offset the demand destruction wrought by the coronavirus. Futures in New York climbed around 3% towards $25 a barrel. Saudi Arabia and Russia are hammering out an agreement that a delegate said will reduce global output by about 10 million …

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• 8 April

  India to buy Middle East oil for strategic reserves

  

  Bloomberg India, the world’s third biggest oil consumer, is set to snap up millions of barrels of Middle East crude for its strategic reserves, signalling its support for global efforts to rescue the energy market. The purchases are aimed at taking advantage of low prices, according to officials with knowledge of the matter. But two of them said they’re also …

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