June, 2020

• 24 June

  Credit Suisse says Asia stocks set to outperform in H2

  

  Bloomberg Asia excluding Japan stocks are set to outperform other emerging markets in the second half of 2020, supported by a weakening US dollar, improving economic data and monetary policy support, according to Credit Suisse Group AG. “If there is any region that stands to benefit from the beginning of the resumption of normal activities in the world economy, Asia …

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• 24 June

  ‘Only Nasdaq at a record is bad sign for US stocks’

  Bloomberg A combination of fresh highs for tech stocks and still-elevated volatility may signal trouble ahead for the S&P 500 Index, according to BTIG LLC. The Nasdaq-100 reached a record on Tuesday, but its fellow American indexes S&P 500, Dow Jones Industrial Average and Russell 2000 have failed to hit their own new marks, chief equity and derivatives strategist Julian …

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• 23 June

  Oil gains after Trump says China trade deal still on

  

  Bloomberg Oil resumed gains, clinging to a three-month high as signs of improving demand buoyed a market momentarily roiled by confusion over US-China trade. Futures in New York rose 0.4% after President Donald Trump said the deal with Beijing was “fully intact” following remarks from a trade adviser that were interpreted as an end to the agreement. After earlier dropping …

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• 23 June

  India to block Chinese goods with new rules

  

  Bloomberg India has amended rules for purchases by government departments, making it mandatory for suppliers to mention the country of origin in a move to push for local products and keep out Chinese manufacturers. New sellers on Government e-Marketplace, an Amazon-like online procurement platform, will have to register the origin of their products while those already available must meet the …

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• 23 June

  British mall owner Intu warns of administration

  

  Bloomberg Intu Properties Plc warned that some of the UK’s biggest shopping centers may have to close if its survival talks with creditors collapse, putting thousands of jobs at risk just as retailers emerge from the coronavirus lockdown. The landlord has asked banks to waive terms on 600 million pounds ($750 million) of loans until the end of next year. …

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• 23 June

  US restricts charter flights from India

  

  Bloomberg The US government restricted charter flights from India, accusing that nation of “unfair and discriminatory practices” by violating a treaty governing aviation between the two countries. Air India Ltd has been making flights to repatriate its citizens during the travel disruptions caused by the Covid-19 outbreak, but also has been selling tickets to the public, the Transportation Department alleged. …

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• 23 June

  Lufthansa’s fate to affect many German savers holding its debt

  

  Bloomberg The outcome of a proposed bailout of flag carrier Deutsche Lufthansa AG that’s meeting resistance from its largest shareholder, will impact the savings of thousands of German investors who hold its debt. The troubled airline has more than 3.7 billion euros ($4.2 billion) in outstanding bonds, loans and Schuldschein debt mostly held by German savings banks, insurers, commercial lenders …

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• 23 June

  Airbus targets voluntary job cuts before any wider layoffs

  

  Bloomberg Airbus SE plans to pursue voluntary job cuts before seeking forced reductions, as it aims to bring down costs without inciting a political uproar in France and Germany, according to people familiar with the matter. The European planemaker will mandate redundancies only as a last resort after looking at voluntary layoffs and early retirement across its manufacturing operations, said …

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• 23 June

  London City Airport reopens as UK eases

  Bloomberg London City Airport reopened for passenger flights after a three-month shutdown due to Covid-19, according to a statement by the airport. New safety features include temperature checks, signs and floor markings to help with social distancing and crowd-tracking technology so staff can monitor and direct passengers in large crowds to quieter areas. Passengers are also being asked to wear …

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• 23 June

  Valentino sues to end its Fifth Avenue lease

  Bloomberg Luxury fashion retailer Valentino has joined a string of retailers suing their landlords to get out of pricey leases after shoppers vanished in the economic lockdown. The US branch of Valentino SpA filed suit in New York State Supreme Court to force 693 Fifth Owner LLC to let it out of its 15-year Manhattan lease nine years early. It …

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