June, 2020

• 25 June

  Big tech isn’t only loser in Trump’s visa freeze

  The Silicon Valley innovation machine is the envy of the world. It’s where the most ambitious entrepreneurs go to start their world-changing companies. But President Donald Trump’s latest action to restrict immigration may needlessly risk the future of this key strategic asset. Perhaps, instead, we shouldn’t mess with something that is working. Trump signed an executive order that freezes access ...

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• 25 June

  Lufthansa’s biggest investor backs government bailout

  

  Bloomberg Deutsche Lufthansa AG’s biggest stockholder publicly backed a 9 billion-euro ($10 billion) government bailout, giving the rescue plan a major shot of momentum and boosting the airline’s shares and bonds just before a crunch vote. With Heinz Hermann Thiele declaring support after days of frenzied speculation about his intentions, the state rescue appears likely to secure the two-thirds backing ...

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• 25 June

  EasyJet bolsters liquidity by raising $520m in share sale

  

  Bloomberg EasyJet Plc raised about 419 million pounds ($520 million) in a share sale, padding its coffers for the gearing up of flights as the European aviation sector emerges from the coronavirus lockdown. The stock offering, equal to almost 15% of the existing share base, was placed at the price of 703 pence a share, representing a 5% discount to ...

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• 25 June

  Swissport to cut 4,500 UK jobs on travel slump

  

  Bloomberg Swissport International AG plans to cut more than 4,500 jobs in Britain as the world’s biggest provider of airport ground and cargo handling services responds to a collapse in demand for air travel. The Zurich-based company, which is owned by troubled Chinese conglomerate HNA Group Co, needs to reduce employment to cope with a 50% drop in revenue this ...

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• 25 June

  Qantas to raise $1.3b, cut 6,000 jobs to survive virus

  

  Bloomberg Qantas Airways Ltd will raise as much as A$1.9 billion ($1.3 billion) and cut at least 6,000 jobs as the coronavirus pandemic continues to keep carriers around the world largely grounded. The Australian airline said on Thursday also that 15,000 workers will remain furloughed, particularly those tied to international operations. The carrier’s entire fleet of 12 Airbus A380 superjumbos, ...

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• 25 June

  Chuck E Cheese parent files for bankruptcy

  Bloomberg CEC Entertainment Inc, the parent of Chuck E Cheese and Peter Piper Pizza, filed for bankruptcy protection after the coronavirus pandemic shuttered its locations and kept families at home. The filing in the Southern District of Texas US Bankruptcy Court makes CEC the latest in a string of companies upended by Covid-19. Lockdowns have drained revenue, keeping consumers at ...

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• 25 June

  India, China face off at disputed border despite peace deal

  

  Bloomberg Indian and Chinese troops remain in a standoff at their contested Himalayan border, days after both sides promised peace following their worst military clash in 45 years. About 50 square kilometres of land earlier controlled by India in the Pangong Tso area — a glacial lake at about 14,000 feet in the Tibetan plateau — is now being held ...

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• 25 June

  Orban’s asylum policy breaks EU law: Adviser

  

  Bloomberg Hungary is breaking European Union law by thwarting asylum seekers, an adviser to the EU’s top court said, just weeks after its judges issued a separate ruling cutting at the heart of Prime Minister Viktor Orban’s anti-immigrant policy. Hungary “failed to fulfill its obligations” under EU law by not ensuring “effective access to the asylum procedure” and by unlawfully ...

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• 25 June

  Biden leads in six US states key to Trump’s 2016 victory

  

  Bloomberg Joe Biden leads Donald Trump in every one of six key battleground states, all but erasing the advantage with White voters that Trump used to put together a razor-thin victory four years ago. The New York Times/Siena College poll of swing states, together with national polls showing Biden with a double-digit lead, helps to draw an Electoral College map ...

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• 25 June

  ‘Cash for favours’ brings trouble for Johnson

  

  Bloomberg A member of Boris Johnson’s government and a “cash for favors” dispute he’s embroiled in has become the latest political headache for the premier after a difficult few months battling the coronavirus pandemic. Housing Secretary Robert Jenrick, under fire since it emerged that he approved a planning development from businessman Richard Desmond who later donated money to the Conservative ...

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