May, 2020

• 16 May

  Air Canada to cut about 22,800 jobs

  

  Bloomberg Air Canada will cut at least 20,000 jobs, or about half its workforce, amid the Covid-19 pandemic, the Canadian Press reported. The job cuts will be effective from June 7 and could affect as many as 22,800 workers, according to an internal company email seen by the Canadian Press. The downsizing will reduce the airline’s workforce by 50% to ...

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• 16 May

  Nike sales trends outstrip rivals ‘by far’, says Credit Suisse

  

  Bloomberg Nike Inc has been among the chief beneficiaries of a “significant acceleration in athletic apparel/footwear trends” over the past couple of weeks as stores in several states began reopening after the Covid-19 pandemic closed all but essential businesses across the country, according to Credit Suisse Securities analyst Michael Binetti. “Athletic trends looked very bad” at the start of the ...

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• 16 May

  Trump ousts watchdog tangled in Ukraine saga

  

  Bloomberg President Donald Trump moved to replace State Department Inspector General Steve Linick, an Obama administration appointee who featured briefly in the Ukraine impeachment saga, according to a letter he sent to House Speaker Nancy Pelosi. Trump wrote that “it is vital that I have the fullest confidence in the appointees serving as inspectors general.” “That is no longer the ...

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• 16 May

  HK police arrest eight people in mall protest

  

  Bloomberg Hong Kong police arrested eight people protesting in a mall in the New Territories, one of four anti-government demonstrations in shopping centers across the city on Saturday. The protesters were held for unlawful assembly, assaulting officers or obstructing them in the Tseung Kwan O mall, police said in a post on their Facebook page. The demonstrations at the different ...

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• 16 May

  India surpasses China in virus cases

  

  Bloomberg India’s burgeoning coronavirus cases have overtaken China’s tally, making it the latest nation with the dubious distinction of having more infections than the country where the pandemic began. India saw 3,787 new infections on May 15, bringing its total to 85,784, surpassing China’s 84,038 cases. The world’s second-most populous nation now has the 11th-biggest outbreak, according to data compiled ...

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• 16 May

  Duterte flies home to Davao amid extended lockdown

  

  Bloomberg Philippine President Rodrigo Duterte flew from the capital Manila, which remains on lockdown, to his hometown in Davao City on Saturday in a trip his spokesman said was partly for official reasons. The 75-year-old leader went home “for a visit after more than two months of not being able to see his family,” said Jesus Durante, head of Duterte’s ...

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• 16 May

  Brazil’s soccer another field of virus conflict for Bolsonaro

  

  Bloomberg The controversy over President Jair Bolsonaro’s push to resume normal life in Brazil amid the mounting coronavirus death toll has spread to soccer, the country’s most revered sport. Bolsonaro’s drive to resume games as soon as possible has run into opposition from top clubs and players, who prefer to wait until the pandemic has subsided. The clash is yet ...

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• 16 May

  US unveils Space Force flag

  Bloomberg President Donald Trump unveiled the official flag for his Space Force at the White House, touting American military might including the development of what he called “the super-duper missile.” Trump said the US is “building right now incredible military equipment,” including a missile that would travel faster than any other in the world “by a factor of almost three.” ...

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• 16 May

  House passes $3trn Dems stimulus bill

  

  Bloomberg The House passed a $3 trillion Democratic economic stimulus bill that Republicans and President Donald Trump have already rejected and isn’t likely to trigger bipartisan negotiations any time soon. The measure, passed 208-199, would give cash-strapped states and local governments more than $1 trillion while providing most Americans with a new round of $1,200 checks. House Speaker Nancy Pelosi ...

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• 16 May

  Argentina’s top creditors submit new debt scheme

  

  Bloomberg Argentina’s largest creditors sent Alberto Fernandez’s government new counteroffers in an effort to reach a $65 billion restructuring deal in the coming week. A bondholder group that includes BlackRock Inc., Ashmore Group Plc and Fidelity Investments submitted one of the proposals according to people with knowledge of the matter. Another joint plan was presented in separate statements, one by ...

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