July, 2020

• 11 July

  US retailer gets bankruptcy loan with zero interest rate

  

  Bloomberg Competition to buy retailer Brooks Brothers Group Inc will allow the company to fund its reorganisation in bankruptcy with an $80 million loan that carries a zero interest rate and no closing fees. ABG-BB LLC, a partnership between Authentic Brands Group LLC and mall landlord Simon Property Group Inc, will provide the loan. The generous terms reflect competition between ...

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• 11 July

  American warns Boeing it may trim Max order over financing

  

  Bloomberg American Airlines Group Inc has warned Boeing Co it will cancel orders for about a dozen 737 Max jets if negotiations fail to secure additional help to finance the planes, said people familiar with the matter. The discussions involve aircraft for which financing deals have expired because of delivery delays and a handful of other jets for which financial ...

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• 11 July

  Gap plans to compensate suppliers

  Bloomberg Gap Inc will work collaboratively with its vendors to compensate them in full for finished goods and goods in production that were canceled or subject to pack and hold. The owner of the Old Navy and Banana Republic apparel chains has also extended payment terms on certain orders and is providing low-cost financing to suppliers, according to a statement ...

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• 11 July

  Trump vows to sign executive order on US immigration laws

  

  Bloomberg President Donald Trump said he would seek sweeping changes to US immigration policy through an executive order, suggesting he might create a “road to citizenship” for certain migrants brought to the country illegally as children and shift the criteria for new arrivals to a “merit-based” system. The new effort will be unveiled “over the next four weeks,” Trump said ...

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• 11 July

  Trump commutes prison sentence of ally Roger Stone

  

  Bloomberg President Donald Trump has commuted the sentence of Roger Stone, sentenced to more than three years in prison for witness tampering and lying to Congress, in a move that will keep his former campaign adviser from serving time behind bars. The decision, announced in a White House press release, came after Trump had repeatedly criticised the judge, prosecutors, and ...

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• 11 July

  Hong Kong pro-democratic opposition starts voting

  

  Bloomberg Voting started in Hong Kong for the primaries of pro-democracy opposition parties, after police raided a polling body working with the movement the night before. Almost 60,000 people voted in the first three hours, according to organisers of the unofficial primary. They are hoping to get at least 170,000 to take part in the vote and on Sunday and ...

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• 11 July

  Serbia protesters return to violence as Vucic holds Kosovo talks

  

  Bloomberg Serbian police detained more than 70 protesters who tried to storm the parliament building in the capital Belgrade as anti-government demonstrations triggered earlier this week over a planned virus curfew lapsed into violence again. Riot police used tear gas to repel the charge by a radical group following hours of a peaceful, sit-down rally by supporters of opposition parties. ...

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• 11 July

  Johnson urges Britons to resume normal life

  

  Bloomberg UK Prime Minister Boris Johnson said people should wear face coverings in shops and go back to work if they can, as he urged the country to try to resume normal life after lockdown. Medical advice is moving in favor of wearing face coverings in all confined spaces, including on public transport and in stores, and the government was ...

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• 11 July

  Covid-19: UK opts out of EU’s $2.3bn virus vaccine program

  

  Bloomberg The UK ruled out joining the European Union’s 2 billion-euro ($2.3 billion) coronavirus vaccine program, fuelling concern among doctors that a go-it-alone approach after Brexit risks delaying vital medical supplies. Signing up would prevent the UK from pursuing parallel negotiations with potential vaccine suppliers, the UK’s ambassador to the EU, Tim Barrow, wrote in a letter to the European ...

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• 11 July

  Canada adds 1m jobs, but earns only muted cheer

  

  Bloomberg Canada reclaimed almost one million jobs of those lost to the coronavirus pandemic, a promising start to what’s expected to be an arduous recovery. Employment rose by 952,900 in June as lockdown restrictions began to ease, Statistics Canada reported on Friday, adding to the 290,000 jobs created in May. The two-month total represents just over 40% of the 3 ...

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