June, 2020

• 28 June

  Bain buys Virgin Australia in bet on shattered industry

  

  Bloomberg Bain Capital LP agreed to buy collapsed airline Virgin Australia Holdings Ltd in one of the biggest single bets on the industry since it was shattered by the coronavirus pandemic. Administrator Deloitte named Bain as the airline’s new owner, hours after rival buyout firm Cyrus Capital Partners LP withdrew its bid. The value of the deal wasn’t disclosed, though ...

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• 27 June

  Nike shares tumble as sales battered

  

  Bloomberg Nike Inc, which touted its ability to navigate the pandemic earlier this year, is finding it’s not so easy. The world’s biggest athletic brand posted a surprise loss and disappointing sales in the fiscal fourth quarter, a sign that shuttered retail stores across the US and much of the world took an even bigger toll than expected. Revenue declined ...

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• 27 June

  South Africa’s Mr Price closes Nigerian business

  Bloomberg Mr Price Group Ltd is closing its Nigerian business after volatility in the West African market and as the retailer favors a stronger focus on its home market of South Africa. The specialist in mid-range clothing, sports goods and homeware has already shuttered four of its five Nigerian stores and expects to close the last one in the coming ...

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• 27 June

  US imposes visa bans on China officials in salvo on Hong Kong

  

  Bloomberg The US State Department imposed visa bans on Chinese Communist Party officials accused of infringing the freedom of Hong Kong citizens, in what a senior official described as the opening salvo in a campaign to force Beijing to back off from new restrictions on the city. Secretary of State Michael Pompeo said in a statement that he was barring ...

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• 27 June

  Trump signs order vowing to protect monuments, statues

  

  Bloomberg President Donald Trump signed an executive order that he says is intended to protect monuments and statues from “anarchists and left-wing extremists.” “My administration will not allow violent mobs incited by a radical fringe to become the arbiters of the aspects of our history that can be celebrated in public spaces,” Trump said in the order, which was released ...

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• 27 June

  Martin takes over as Irish prime minister in grand coalition

  

  Bloomberg Micheal Martin took over as Ireland’s new prime minister at the helm of the nation’s first grand coalition, replacing Leo Varadkar in a rotating premiership. Lawmakers voted by 93 votes to 63 to make Martin, 59, prime minister, more than four months after a general election failed to produce a clear winner. His ascent to power came after the ...

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• 27 June

  Thailand aims its own Covid-19 vaccine

  

  Bloomberg Thailand aims to produce its own Covid-19 vaccine rather than waiting to buy inoculations from abroad, and human trials could start as early as October, according to the scientist leading one project. “We learned a very painful lesson during the H1N1 pandemic when the government signed agreements to buy vaccines, but we didn’t get any until the outbreak was ...

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• 27 June

  Oppn supports Shafie as PM candidate: Mahathir

  

  Bloomberg Some of Malaysia’s opposition parties will back Shafie Apdal as the candidate to become the nation’s next prime minister, former premier Mahathir Mohamad said. The opposition parties are Warisan, DAP and Amanah, Mahathir said in a statement on Saturday. Shafie was picked as he was among political leaders who opposed wrongdoings perpetrated by the Barisan Nasional government that was ...

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• 27 June

  UK firms are geting ready for a no-deal Brexit as time runs out

  

  Bloomberg However much Prime Minister Boris Johnson says he will be able to arrange a trade deal with the European Union by the year-end, firms in Britain are already bracing themselves for the possibility he won’t. Renold Plc, a Manchester-based maker of vehicle chains and gearboxes, is among them. It’s planning to fast-track deliveries to customers in the coming months ...

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• 27 June

  Google to pay publishers for upcoming news service

  Bloomberg Alphabet Inc.’s Google will begin paying select media outlets featured in a yet-to-be released news service later this year, a major business shift for the search engine after years of pressure from media companies and regulators. The licensing deals will start in three countries and Google is in talks with publishers in six more, the company said. The service ...

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