April, 2020

• 6 April

  Japan’s airlines join global carriers with huge losses

  Bloomberg Japan’s major airlines are on track to see revenue drop by $4.6 billion from February through May, an industry group said, pushing ANA Holdings Inc and Japan Airlines Co closer to the crisis ensnaring other global carriers because of the coronavirus pandemic. Scheduled Airlines Association of Japan’s forecast amplifies its warning from from March 13, when it predicted losses …

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• 6 April

  DoorDash to deliver toilet paper, groceries

  Bloomberg DoorDash Inc, the biggest food delivery app in the US, will start delivering goods from 7-Eleven, Wawa and other convenience stores to Americans who are mostly stuck at home for the foreseeable future. The San Francisco-based startup said it began testing the sale of paper towels and other packaged goods this year and decided to accelerate the rollout due …

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• 5 April

  Saudi Arabia, Russia push negotiations for oil pact

  

  Bloomberg Saudi Arabia, Russia and other large oil producers are negotiating for a deal to stem the historic price rout, even as leaders trade barbs in public. “President Putin and Russian side in general are keen to engage in constructive negotiations, which is the only way to stabilise the international energy market,” Kremlin spokesman Dmitry Peskov said in a pre-recorded …

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• 5 April

  Sinking global economy slammed by dangerous disinflationary shock

  

  Bloomberg The sinking global economy is suffering through a colossal disinflationary shock that could briefly push it into dangerous deflation territory for the first time in decades. With many national economies all but shutting down in an effort to contain the coronavirus, prices on everything from oil and copper to hotel rooms and restaurant take-out are tumbling. “A powerful disinflationary …

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• 5 April

  US regulator who became the face of shale in oil wars

  

  Bloomberg In just a matter of weeks, Ryan Sitton went from being a lame-duck commissioner of an obscure Texas agency to one of the key figures in a global effort to save the oil market from plummeting prices. Sitton, a Republican who lost the primary election for his own seat on the Texas Railroad Commission just one month ago, said …

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• 5 April

  Norway may join oil output cuts for first time since 2002

  

  Bloomberg Norway, the biggest oil producer in western Europe, said it would consider cutting its output if there was a broad international agreement to curb supply. The Nordic nation, whose oil output is set to grow over the next few years, hasn’t been a part of coordinated international cuts to support prices since 2002. Opec and other producing nations are …

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• 5 April

  Egypt cancels wheat tender over virus supply risks

  

  Bloomberg The fallout from the coronavirus crisis is starting to upend wheat tenders in the world’s top importer. In a rare move, Egypt cancelled a tender within hours of announcing it, without giving a reason. The state buyer added a new clause requiring suppliers to replace any cargoes affected by virus-related restrictions with wheat from elsewhere, and bear the difference …

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• 5 April

  US state uses climate cash to cut bills

  Bloomberg California regulators want to use money from the state’s climate change cap-and-trade programme to offset rising utility bills, as the coronavirus forces many residents to stay home. Some of the proceeds from the system — which makes power plants, factories and many businesses pay for the greenhouse gases they emit — go to California residents twice each year as …

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• 5 April

  Alberta to participate in Opec+ call next week

  Bloomberg Alberta Energy Minister Sonya Savage will participate in an Opec+ call next week aimed at resolving the global oil price war and will “keep an open mind” on how the province can participate in a solution, Premier Jason Kenney said. “We cannot have a meaningful impact on global prices because of our landlocked status,” Kenney said in response to …

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• 5 April

  Covid-19: Saudi firm delays $2b debt talks for Vodafone deal

  Bloomberg Saudi Telecom Co has postponed talks to raise debt to fund the acquisition of Vodafone Group Plc’s stake in its Egyptian business because of the coronavirus outbreak, according to people with knowledge of the matter. Work on the acquisition is still continuing and the kingdom’s largest telecoms operator may resume negotiations with banks for a loan of more than …

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