June, 2020

• 20 June

  Spirit fined for calling customers ‘volunteers’

  

  Bloomberg Spirit Airlines Inc misclassified as “volunteers” more than 1,000 people who were denied boarding against their will on oversold flights, the US Transportation Department said in announcing a fine against the carrier. The department said consumer complaints filed with its Office of Aviation Consumer Protection showed the budget carrier required that passengers bumped from flights sign waivers or documents ...

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• 20 June

  Lufthansa says A380s won’t return for at least two years

  

  Bloomberg Deutsche Lufthansa AG’s fleet of Airbus SE A380 jets will be mothballed for at least two years and may never return to service as demand for long-haul travel remains subdued in the wake of the coronavirus outbreak. With Lufthansa already retiring about half of its 14 superjumbos, remaining jets will be relegated to its secondary hub in Munich. Flights ...

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• 20 June

  New York & Co parent RTW preparing for bankruptcy

  

  Bloomberg The parent of New York & Co is preparing for a bankruptcy filing that would include plans to shut all of the discount apparel chain’s stores, according to people with knowledge of the matter. RTW Retailwinds Inc, which also owns Fashion to Figure and Happy x Nature, warned earlier this month that a bankruptcy filing was probable, citing a ...

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• 20 June

  United readies $5b debt sale next week

  Bloomberg A group of banks led by Goldman Sachs Group Inc may launch a $5 billion debt offering for United Airlines Holdings Inc as soon as Monday, according to people with knowledge of the matter. Goldman Sachs has started discussions with investors to gauge their level of interest, said the people, who asked not to be named because the talks ...

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• 20 June

  China confirms security law to override HK legal system

  

  Bloomberg China confirmed that a proposed national security law would allow Beijing to override Hong Kong’s independent legal system, shedding new light on a move that has stoked tensions with the US and threatens the city’s status as a top financial centre. The proposal said the central government will have jurisdiction over an “extremely small” number of national security cases ...

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• 20 June

  Foreign plot foiled: Belarus president

  

  Bloomberg Europe’s longest-serving president said his security forces thwarted a “foreign” plan to foment revolution as protests spread across the country following the arrests of potential challengers to his rule. “We managed to make some pre-emptive steps and disrupt the large-scale plan to destabilise Belarus,” Alexander Lukashenko, who has ruled the post-Soviet nation since 1994, said during a meeting with ...

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• 20 June

  Modi says China isn’t occupying Indian territory after clashes

  

  Bloomberg India’s Prime Minister Narendra Modi has walked into a diplomatic minefield over his nation’s disputed border with China. The hashtag #ModiSurrendersToChina was trending on Twitter on Saturday after Modi stated no one had entered Indian territory or captured any military posts in the deadly clashes that resulted in the death of 20 Indian soldiers and the capture by the ...

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• 20 June

  Biden pledges to fight racial inequities

  

  Bloomberg Democratic nominee Joe Biden commemorated Juneteenth by reiterating his commitment to fighting racial inequities, seeking to strike a contrast with President Donald Trump, who has struggled to address issues of race and justice amid continuing nationwide protests against police brutality. Biden joined top Democrats by video at JusticeCon, a social justice forum organised by Faith For Black Lives in ...

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• 20 June

  China body votes to join global arms sales treaty

  

  Bloomberg China’s top legislative body voted to join a global treaty on arms sales in a move that supports Beijing’s efforts to contrast itself with US President Donald Trump’s “America First” policies. The Standing Committee of the National People’s Congress decided to join the Arms Trade Treaty during a meeting that ended on Saturday, the official Xinhua News Agency said. ...

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• 20 June

  A $21b debt plan in Denmark is leaving bankers confused

  

  Bloomberg The biggest Nordic banks have voiced concerns over how Denmark’s debt office is handling sales of its shortest-dated securities. The debt office in Copenhagen, which is part of the central bank, recently added commercial paper to the list of securities it sells. But bankers at Danske and Nordea, among others, say the office has left them in the dark ...

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