July, 2020

• 4 July

  Rolls-Royce explores options to raise funds amid downturn

  

  Bloomberg Rolls-Royce Holdings Plc, the British jet-engine maker, is exploring options to raise funds that would help fortify the company against a downturn in the aerospace industry. The London-based company is in the early stages of reviewing a range of options to strengthen its balance sheet, it said in a statement, confirming a Bloomberg News report. “No decisions have been ...

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• 4 July

  Cheap flights are ‘irresponsible’: Lufthansa

  Bloomberg Ultra low-cost tickets priced at less than 10 euros ($11.25) each are harming the aviation industry’s reputation, Deutsche Lufthansa AG Chief Executive Officer Carsten Spohr said in an interview with Swiss daily Neue Zuercher Zeitung. “Tickets for 9.99 euros are ecologically and economically irresponsible,” Spohr, 53, was quoted as saying. He also said Europe’s largest airline will seek financing ...

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• 4 July

  Covid-19: Lucky Brand files for bankruptcy in US

  Bloomberg Lucky Brand Dungarees and affiliates, known for jeans and other apparel, filed for bankruptcy in Delaware after the coronavirus pandemic scuttled restructuring efforts. The closely-held company has entered into an asset purchase agreement with SPARC Group, which operates brands including Aéropostale and Nautica, for the sale of “substantially all” of its operating assets, according to a company statement. ABG-Lucky, ...

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• 4 July

  Trudeau suspends Hong Kong extradition pact on China law

  

  Bloomberg Prime Minister Justin Trudeau is suspending Canada’s extradition treaty with Hong Kong, making it the first country to break law enforcement links with the former British colony since China tightened its control over the territory. Trudeau announced the measures at a press conference, joining allies in efforts to sanction China. Steps will include a ban on the export of ...

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• 4 July

  US sends navy ships to South China Sea

  

  Bloomberg The US is sending the USS Ronald Reagan and USS Nimitz aircraft carriers to the South China Sea for military exercises as China ramps up its own drills in the area, drawing protests from Washington. Dual carrier operations and exercises are being conducted in “international waters of the South China Sea to support a free and open Indo-Pacific,” the ...

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• 4 July

  Macron is ‘going it alone’ with pick for new premier

  

  Bloomberg In appointing a relatively unknown figure to be his new head of government, Emmanuel Macron is sending out a clear message: his solution to turning around the flagging presidency is more Macron. The mayor of a small southern French town, 55-year-old Jean Castex only started to make a name for himself earlier this year when he was appointed to ...

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• 4 July

  N Korea minister rules out ‘US talks’

  

  Bloomberg North Korea is ruling out more talks with the US, saying the American authorities are using the idea as a mere political tool. “We do not feel any need to sit face-to-face with the US,” North Korea Vice Foreign Minister Choe Son Hui said, according to the official Korean Central News Agency on Saturday. The US does not consider ...

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• 4 July

  Portugal protests UK’s decision on quarantine

  

  Bloomberg Portugal protested the UK requirement that British travellers self-isolate when they return to England from the Iberian nation as “profoundly unfair.” It’s “absurd,” Foreign Minister Augusto Santos Silva said on RTP3 television station. “When a country that has 28 times more deaths from Covid-19 than Portugal wants to impose quarantine rules to passengers from Portugal, I would say that ...

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• 4 July

  US’s nuclear envoy set to visit South Korea, Japan

  Bloomberg US Deputy Secretary of State Stephen Biegun, the Trump administration’s main representative for North Korea, will visit South Korea on Tuesday before heading to Japan, Yonhap reported Saturday, citing unidentified diplomatic sources. Biegun will visit Seoul on July 7, where he is likely to meet South Korean counterpart Lee Do-hoon along with diplomatic officials at the foreign ministry and ...

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• 4 July

  Commerzbank leaders toppled in Cerberus-led investor revolt

  

  Bloomberg Commerzbank AG’s leadership was toppled in a shareholder revolt led by Cerberus Capital Management after failing to turn around a lender that’s struggled since its bailout in the financial crisis. Chief Executive Officer Martin Zielke, in the job for just over four years, has offered to resign, though the bank’s supervisory board still has to accept his resignation and ...

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