June, 2020

• 22 June

  France takes aim at low-cost carriers with short routes ban

  

  Bloomberg France plans to ban commercial air travel on the country’s shortest domestic routes in a bid to prevent low-cost carriers picking up links Air France is being forced to abandon as part of the terms of a bailout package. “If we are asking things of Air France, it’s not so that low-cost companies can come along and start their ...

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• 22 June

  American braces balance sheet with $3.5b in financing

  

  Bloomberg American Airlines Group Inc braced its balance sheet with $3.5 billion in new financing, diverging from its recent reliance on federal aid as the coronavirus pandemic suppresses travel demand. The carrier is selling $750 million of shares and the same amount of senior convertible notes due in 2025, American said in a statement, confirming an earlier Bloomberg News report. ...

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• 22 June

  Bed Bath & Beyond to sell Christmas Tree

  Bloomberg Bed Bath & Beyond Inc is looking to sell its Christmas Tree Shops and Cost Plus World Market chains, according to people familiar with the matter, part of an ongoing makeover of the home-goods company. The people declined to be identified because the process isn’t public. Activist investors pressured the company to oust Chief Executive Officer Steven Temares last ...

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• 22 June

  Putin signals he may run for 5th presidential term in 2024

  

  Bloomberg Vladimir Putin said he’ll consider running for a fifth presidential term in 2024, arguing that the hunt for any successor risks paralysing Russia’s government as the next election nears. “I don’t rule out such a possibility,” if the necessary amendment to the constitution is approved, Putin said in a Rossiya 1 television documentary broadcast. “I haven’t made up my ...

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• 22 June

  South Korea calls Bolton claims on Kim talks ‘distorted’

  

  Bloomberg South Korea’s presidential office said John Bolton painted a distorted picture of diplomacy with North Korean leader Kim Jong-un, joining the Trump administration in criticising a memoir from the US former national security adviser. “It does not depict accurate facts,” Chung Eui-yong, the director of national security, said in a statement on Monday from the office of President Moon ...

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• 22 June

  Trump rally faces reckoning after falling short in Tulsa

  

  Bloomberg President Donald Trump had looked to his first rally in three months as a reset for his campaign. Instead, the sparsely attended event in Tulsa, Oklahoma is stirring fresh questions about both his strategy and the direction of his re-election bid. The most evident shortfall from the rally was attendance, far smaller than the overflow crowd that the president ...

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• 22 June

  Kenya ruling party rift costs leader’s job

  

  Bloomberg Kenya’s ruling party replaced a key parliamentary official on Monday, the latest in a series of leadership changes that have strengthened President Uhuru Kenyatta‘s hold on power and weakened his deputy, William Ruto. Amos Kimunya, a former finance minister, will replace Aden Duale as the Jubilee Party’s majority leader in the National Assembly, Secretary-General Raphael Tuju said in a ...

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• 22 June

  Nigerian doctors suspend strike amid renewed talks

  

  Bloomberg Nigerian doctors suspended a nationwide strike to continue talks with the government over a lack of protective equipment needed to treat Covid-19 patients and other benefits. The medical officers decided to return to work after an intervention from government officials, the Nigerian Association of Resident Doctors said in emailed statement on Monday. The group will “continue negotiations with stakeholders ...

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• 22 June

  Italy will likely seek to widen budget shortfall, says Conte

  

  Bloomberg Italian Prime Minister Giuseppe Conte said his government would likely seek a wider budget gap as he draws up an ambitious reform plan to lobby for European Union (EU) assistance to restart the economy. The government will focus on infrastructure projects including high-speed railways and may approve a value-added tax cut to stem the coronavirus’s impact on the euro-zone’s ...

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• 22 June

  Wirecard fights for survival as missing billions may not exist

  

  Bloomberg Wirecard AG was left fighting for survival after acknowledging that 1.9 billion euros ($2.1 billion) that it had reported as assets probably don’t exist, deepening an accounting scandal that has rattled Germany’s financial industry. The payments processor said it’s in discussions with creditors and considering a full-scale restructuring after pulling its financial results for fiscal 2019 and the first ...

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