June, 2020

• 11 June

  China power giants prepare for world’s biggest carbon market

  

  Bloomberg China’s state-owned power giants have been asked to prepare reports on historical emissions that officials will use to set up the world’s largest carbon market, according to people familiar with the request. The China Electricity Council has asked firms for submissions by July, said the people, who asked not to be identified because the information isn’t public. The council ...

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• 11 June

  It’s up to US states to prevent vote day fiasco

  

  June 09 was primary day in West Virginia, and the Republican-led state government there did something sensible that other states should embrace: They made it easier to cast absentee votes. All 50 states permit absentee balloting, but they don’t always make it simple. West Virginia is one of about 16 states that require a medical or other excuse. But because ...

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• 11 June

  India’s states are a little too united

  

  While India is just beginning to confront the full economic impact of the Covid-19 pandemic, optimists see reasons to hope. Global manufacturers are looking to diversify supply chains and Indian leaders seem to be trying to attract their business. The recent decision by Uttar Pradesh — India’s biggest state — and a few others to relax stifling labor regulations has ...

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• 11 June

  Zara’s latest fashions will be post-Covid hit

  Don’t be fooled by red replacing black as this season’s colour at Zara-owner Inditex. The Spanish fast-fashion behemoth reported its first loss since it went public in 2001 after shutting stores during Covid-19 lockdowns worldwide. But nimble retailers will still prosper as economies open back up again, and Inditex is among them. In fact, with a big investment plan to ...

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• 11 June

  Schools should open in full this fall in the US

  For all the death and illness the coronavirus has caused, it has done the world one great and surprising favour. It has spared our children. “Influenza almost always selects the weakest in a society to kill, the very young and the very old,” John M Barry wrote in “The Great Influenza,” his definitive account of the 1918 pandemic. But while ...

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• 11 June

  Boeing nears milestone for Max with key flight in June

  

  Bloomberg Boeing Co is closing in on a key milestone towards returning its beleaguered 737 Max to the commercial market, targeting later this month for hosting US regulators on a flight to test the jet’s upgraded systems. The company separately is notifying airlines of an important fix to the grounded jetliner’s wiring, said two people familiar with the planning who ...

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• 11 June

  Garuda wins approval to extend $500m debt

  

  Bloomberg Indonesian flag carrier PT Garuda Indonesia won approval from investors to extend the maturity of a $500 million sukuk, easing a cash squeeze as the airline battles falling passenger demand during the coronavirus pandemic. The state-owned airline, whose passenger traffic fell 91% in April from a year earlier, said in a statement that investors holding 90.88% of the aggregate ...

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• 11 June

  Heathrow cuts front-line posts after UK imposes quarantine

  

  Bloomberg London Heathrow airport said it has begun cutting front-line jobs after a recovery in passenger numbers was delayed by Britain’s introduction this week of a quarantine rule for incoming travellers. Europe’s busiest airport will initially seek voluntary departures after agreeing a severance plan with unions, it said in a statement. The hub has already eliminated 500 management posts. The ...

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• 11 June

  Khazanah mulls providing up to $1.2b Malaysia Airlines aid

  

  Bloomberg Khazanah Nasional Bhd, Malaysia’s sovereign wealth fund, is considering providing as much as 5 billion ringgit ($1.2 billion) to the national flag carrier to see it through the coronavirus-induced slump in bookings, according to people familiar with the matter. Malaysia Airlines Bhd would use the fresh capital to resume some operations it has suspended, the people said. If it ...

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• 11 June

  Ocado raises $1.3b for e-comm growth

  Bloomberg Ocado Group Plc is raising just over 1 billion pounds ($1.3 billion) through a share placement, retail offer and convertible bonds to fund expansion of online grocery shopping in an era of social distancing. The company said on Thursday it’s getting 657 million pounds via the share placement and retail offer and 350 million pounds through the convertible bond ...

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