May, 2020

• 20 May

  US, Europen stock futures mixed on vaccine doubts; yields, oil drop

  

  Bloomberg US and European equity futures were mixed along with stocks in Asia as reports on Moderna Inc.’s coronavirus vaccine added to concern that a successful way to beat the pandemic remains a long way off. Treasuries held an overnight advance. Japan and India saw the bulk of gains in a mixed Asian session, with Shanghai and Hong Kong in …

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• 20 May

  India stocks rise for second straight day

  

  Bloomberg Indian stocks rose, set for a second straight day of gains, as some investors bet there’ll be enough liquidity to support the economy as the nation gradually exits from the world’s biggest lockdown. The S&P BSE Sensex climbed 0.7% to 30,410.91 as of 9:42 am in Mumbai, while the NSE Nifty 50 Index rose by a similar magnitude. Both …

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• 20 May

  Luckin’s battered stock faces a renewed wave of selling

  Bloomberg Luckin Coffee Inc.’s battered stock faces a renewed wave of selling on Wednesday, after Nasdaq Inc. said it planned to delist the onetime market darling that shocked investors with revelations of accounting fraud last month. The Chinese coffee chain’s shares, which have been suspended since tumbling more than 80% in April, will resume trading in New York. Luckin announced …

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• 19 May

  Battle over world’s biggest wind turbine is heating up

  

  Bloomberg Siemens Gamesa Renewable Energy SA, the Spanish wind turbine manufacturer, is to build what will be the world’s biggest windmill, by the thinnest of margins. The 14-megawatt machine with a rotor diametre of 222 metres (728 feet) will be just two meters bigger than General Electric Co’s own massive turbine. It’s another sign that size matters when it comes …

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• 19 May

  US shale output set to tumble to 2018 low

  

  Bloomberg Oil production from the top seven shale regions in the US is set to tumble to levels not seen since 2018 as drillers scale back in response to the recent price collapse. Losses will be led by the Permian Basin — which straddles Texas and New Mexico — where output is seen falling by 87,000 barrels a day in …

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• 19 May

  Ovo Energy plans to slash 2,600 workers

  Bloomberg Ovo Energy Ltd plans to cut 2,600 staff as customers use digital tools to contact the energy supplier, cutting the need for people. Since its acquisition of SSE Energy Services last year, Ovo has been planning the integration of the two businesses which “would have always required difficult changes,” the company said. The impact of the coronavirus has accelerated …

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• 19 May

  Spain aims to pass law setting climate targets

  Bloomberg Spain’s government is seeking to pass a law setting its climate targets as part of a drive to achieve carbon neutrality by 2050. A bill was set to be sent by the government to parliament on Tuesday aims to reduce Spain’s greenhouse gas emissions by 20% by 2030, relative to 1990 levels, according to copies of the bill distributed …

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• 19 May

  Over 15,000 HK shops may shut down sans rent relief

  

  Bloomberg From luxury boutiques to mom and pop stores, Hong Kong’s retailers are hurting. Unless landlords can offer more relief, one in four could disappear by December if sales don’t improve, putting an end to the city’s reputation as a shopping hotspot. That’s the gloomy prediction of Hong Kong Retail Management Association Chairman Annie Yau Tse, who says the rent …

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• 19 May

  Qantas says air fares could jump nine fold

  

  Bloomberg Qantas Airways Ltd said putting extra space between passengers on planes could lead to a big increase in airfares and discourage people from flying. “Social distancing on an aircraft isn’t practical,” Qantas Chief Executive Officer Alan Joyce said in a briefing with reporters on Tuesday. If implemented, it could mean there would only be 22 people on a 128-seat …

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• 19 May

  Argentina’s Flybondi bets on local flights to survive virus

  

  Bloomberg Argentina’s discount airline Flybondi is planning to redouble its bet on domestic service once the toughest travel ban in the Americas is lifted. The company will focus on local flights as long as demand for international travel remains tenuous because of the coronavirus pandemic, said Chief Commercial Officer Mauricio Sana in an interview. Flights to Brazil, the hardest-hit country …

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