June, 2020

• 8 June

  Hydroxychloroquine farce has consequences

  Follow the science— these are reassuring words in a pandemic like Covid-19, when widespread fear of a deadly virus can be exploited by unscrupulous politicians, snake-oil salesmen and cranks. Public trust in scientists has risen recently. But we may be hitting the limits of this trust, just as many countries enter the crucial phase of reopening their economies with a ...

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• 8 June

  Airbus’s global footprint now a burden as sector shrinks

  

  Bloomberg Over the past dozen years, Airbus SE has grown from a European planemaker with purely local production into a global manufacturer with assembly lines on three continents that give it more clout to win orders around the world. But as the aviation industry enters its most dramatic downturn ever, the company is finding that broad reach turning from an ...

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• 8 June

  South Korea to pump $828m into Korean Air

  

  Bloomberg South Korea’s financial authorities will provide one trillion won ($828 million) in liquidity to Korean Air Lines Co by issuing government-guaranteed bonds as early as the end of this month, Yonhap News reported. The cash-strapped flag carrier needs the funds to stay afloat as the aftermath of the Covid-19 outbreak is likely to continue to hinder its operations into ...

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• 8 June

  France plans billions of euros to rescue aerospace industry

  

  Bloomberg The French government will present a plan worth billions of euros to rescue its beleaguered aerospace industry, protect key suppliers from Chinese interests and may bring forward some defense orders, the transport minister said. The aid package to be is aimed at European jet manufacturer Airbus SE, engine maker Safran SA, defense group Thales SA, and hundreds of French ...

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• 8 June

  Ann Taylor parent Ascena mulls bankruptcy filing over debt

  

  Bloomberg Ascena Retail Group, the owner of the Ann Taylor and Lane Bryant apparel chains, is discussing a potential bankruptcy filing with lenders after its business was thrown into disarray by the Covid-19 pandemic, according to people with knowledge of the matter. The Chapter 11 filing, which could come as soon as July, would allow the company to keep some ...

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• 8 June

  Covid-19: Singapore Air not to cut jobs for now

  Bloomberg Singapore Airlines Ltd will focus on recovering from the coronavirus outbreak and doesn’t plan to cut jobs at the moment, the Sunday Times reported, citing the carrier’s CEO Goh Choon Phong. Still, the airline will have to review possible job cuts, Goh was quoted as saying in the report, without providing more details. Singapore Airlines has offered its staff ...

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• 8 June

  Heathrow may cut 2000 jobs on UK rules

  Bloomberg London Heathrow airport said it may need to cut one-third of its workforce if the UK government doesn’t indicate soon that it plans to relax a quarantine rule for incoming passengers. Europe’s busiest air hub, which employs 7,000 people, has eliminated a third of operating costs and management posts while resisting permanent job cuts among frontline staff, Chief Executive ...

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• 8 June

  Trump uses ‘defund police’ as political weapon against Biden

  

  Bloomberg President Donald Trump is seeking to tie Joe Biden to activists’ calls to “defund the police” in an attempt to paint his likely 2020 opponent as weak on crime and vilify Democrats pushing for police reform, even though Biden hasn’t embraced the slogan. Two weeks of protests over the death of a black man in Minneapolis police custody have ...

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• 8 June

  Trump hasn’t told Germany that he’s pulling out troops

  

  Bloomberg Chancellor Angela Merkel’s government said it’s received no official word from Washington on plans to withdraw US troops from Germany, the latest sign of deteriorating relations between the two countries. “As of this hour, there is no official confirmation by the appropriate authorities in the United States whether these plans will really be carried out or not,” Defense Minister ...

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• 8 June

  Putin’s plan to extend rule played down in Kremlin vote pitch

  

  Bloomberg Plans for the most sweeping changes to Russia’s constitution since it was adopted nearly 30 years ago include one big one: an amendment that could allow President Vladimir Putin remain in power until 2036. Russian voters could be forgiven for not noticing. In a nationwide ad campaign and the official website that explains the proposed amendments, which are subject ...

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